I.l.w.u. Credit Union Mortgage Rates, Fees & Info

Long Beach, CA

LEI: 549300THBFHMP4WJ0323

Tax ID: 95-1786417

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    I.l.w.u. Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. I.l.w.u. Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, San Francisco, Riverside, San Diego, and Vallejo among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    I.l.w.u. Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. I.l.w.u. Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.96% 5/4/24
    30 Year Conventional Refi 6.39% 5/4/24
    30 Year Cash-out Refi 6.26% 5/4/24
    15 Year Conventional Purchase 5.68% 5/4/24
    15 Year Conventional Refi 5.68% 5/4/24
    15 Year Cash-out Refi 5.68% 5/4/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    I.l.w.u. Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from I.l.w.u. Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    76

    Origination Dollar Volume (All Markets)

    $32,020,000

    Awards

    I.L.W.U. CREDIT UNION 30 Year Conventional Loans gold
    Show all (1) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 56 $23,670,000 $422,679 $3,418 4.20%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 9 $4,465,000 $496,111 $3,681 4.01%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 4 $1,630,000 $407,500 $3,284 5.44%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $970,000 $485,000 $3,405 4.19%
    VALLEJO, CA (FHA|USDA|VA) 2 $700,000 $350,000 $3,294 5.63%
    Red Bluff, CA (FHA|USDA|VA) 1 $255,000 $255,000 $3,220 3.25%
    STOCKTON, CA (FHA|USDA|VA) 1 $245,000 $245,000 $5,933 4.38%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $85,000 $85,000 $3,276 4.63%
    I.l.w.u. Credit Union's top markets include Los Angeles, San Francisco, Riverside, San Diego, and Vallejo among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against I.L.W.U. CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Christian Community Credit Union
    Similarity Rank: 220
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 290
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 374
    SOUTHLAND CREDIT UNION
    Similarity Rank: 464
    LBS FINANCIAL
    Similarity Rank: 546
    LA Financial Federal Credit Union
    Similarity Rank: 951
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 1050
    MONARCH FUNDING CORP.
    Similarity Rank: 1295
    Water and Power Community Credit Union
    Similarity Rank: 1296
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 1302

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 76 $32,020,000 $421,316 $3,469 4.27%

    For 2019, I.l.w.u. Credit Union's most frequently originated type of loan was Conventional, with 76 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 56 $23,050,000 $411,607 $3,371 4.33%
    Refi 14 $6,910,000 $493,571 $3,232 4.11%
    Home Purchase 5 $1,765,000 $353,000 $5,143 4.18%
    Home Improvement 1 $295,000 $295,000 $3,482 4.13%

    For 2019, I.l.w.u. Credit Union's most frequently cited loan purpose was Cash Out Refi, with 56 originations. The 2nd most popular reason was Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 68 $30,820,000 $453,235 $3,500 4.20%
    15 Year 6 $800,000 $133,333 $3,173 5.25%
    20 Year 2 $400,000 $200,000 $3,025 3.88%

    For 2019, I.l.w.u. Credit Union's most frequently cited loan duration was 30 Year, with 68 originations. The 2nd most popular length was 15 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 71 $31,115,000 $438,239
    $3k-4k 1 $245,000 $245,000
    $4k-5k 1 $375,000 $375,000

    I.l.w.u. Credit Union's average total fees were $3,500, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 71 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 36 $14,910,000 $414,167
    3-4% 34 $15,850,000 $466,176
    7-8% 2 $570,000 $285,000
    Over 8% 2 $100,000 $50,000
    5-6% 1 $185,000 $185,000
    6-7% 1 $405,000 $405,000

    During 2019, I.l.w.u. Credit Union's average interest rate for loans was 4.20%, while their most frequently originated rate bucket for loans was 4-5%, with 36 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 32 $15,950,000 $498,438 $3,392 4.10%
    $200k-400k 22 $6,300,000 $286,364 $3,663 4.35%
    $600k-1MM 12 $8,550,000 $712,500 $3,607 4.00%
    $100k-200k 7 $1,035,000 $147,857 $2,927 4.14%
    $100,000 or less 3 $185,000 $61,667 $3,276 7.04%

    2019 saw I.l.w.u. Credit Union place emphasis on $400k-600k loans with 32 originations, totaling $15,950,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 29 $12,295,000 $423,966 $3,511 4.18%
    $100k-150k 25 $9,345,000 $373,800 $3,580 4.47%
    $250k+ 9 $5,915,000 $657,222 $3,351 3.97%
    $75k-100k 7 $2,505,000 $357,857 $3,247 4.48%
    $50k-75k 3 $645,000 $215,000 $3,075 4.00%
    $50k or less 1 $185,000 $185,000 $0 5.13%

    I.l.w.u. Credit Union lent most frequently to those with incomes in the $150k-250k range, with 29 originations. The second most popular income band? $100k-150k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 20 $8,270,000 $413,500 $3,510 4.18%
    30-36% 16 $6,930,000 $433,125 $3,319 4.39%
    <20% 10 $3,270,000 $327,000 $3,263 3.99%
    39% 5 $1,575,000 $315,000 $3,179 4.63%
    36% 5 $2,315,000 $463,000 $4,050 4.63%
    44% 4 $1,890,000 $472,500 $4,171 5.09%
    49% 4 $1,600,000 $400,000 $3,296 4.03%
    50-60% 2 $800,000 $400,000 $3,425 4.63%
    37% 2 $1,240,000 $620,000 $3,450 4.00%
    40% 2 $1,420,000 $710,000 $3,430 4.00%
    42% 2 $980,000 $490,000 $3,220 3.88%
    43% 1 $425,000 $425,000 $3,220 3.88%
    47% 1 $525,000 $525,000 $6,643 3.88%
    41% 1 $375,000 $375,000 $3,220 3.88%
    38% 1 $405,000 $405,000 $2,075 3.88%

    I.l.w.u. Credit Union lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 37 $15,975,000 $431,757 $3,497 4.41%
    Not provided 29 $12,615,000 $435,000 $3,484 4.16%
    Black 6 $1,800,000 $300,000 $3,250 4.10%
    Asian 3 $1,115,000 $371,667 $3,265 4.08%
    Native Hawaiian or Islander 1 $515,000 $515,000 $4,030 4.13%

    Approval Rates

    Total approvals of all applications
    94.39%

    I.l.w.u. Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    67.11%

    I.l.w.u. Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 76 $32,020,000 $421,316

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 76 $32,020,000 $421,316

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $1,520,000 $190,000 $3,022 4.55%
    40-60% 11 $3,835,000 $348,636 $3,809 4.17%
    60-80% 45 $22,575,000 $501,667 $3,369 4.09%
    80-100% 8 $3,760,000 $470,000 $4,081 4.34%
    Under 20% 4 $330,000 $82,500 $2,962 6.00%