Efcu Financial Mortgage Rates, Fees & Info

Baton Rouge, LA

LEI: 549300U18MOAH5F95P15

Tax ID: 72-0433727

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Efcu Financial is a smaller credit union specializing in Home Purchase, Refi, and Cash Out Refi loans. Efcu Financial has a high proportion of conventional loans. Their top markets by origination volume include: Baton Rouge, New Orleans, Daphne, and Hammond among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Efcu Financial has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

    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.

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    Originations

    72

    Origination Dollar Volume (All Markets)

    $17,440,000

    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
    BATON ROUGE, LA (FHA|USDA|VA) 67 $15,585,000 $232,612 $0 0.00%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 3 $1,205,000 $401,667 $0 0.00%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
    HAMMOND, LA (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    Efcu Financial's top markets include Baton Rouge, New Orleans, Daphne, and Hammond among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 72 $17,440,000 $242,222 $0 0.00%

    For 2018, Efcu Financial's most frequently originated type of loan was Conventional, with 72 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 28 $6,030,000 $215,357 $0 0.00%
    Refi 27 $6,915,000 $256,111 $0 0.00%
    Cash Out Refi 16 $4,330,000 $270,625 $0 0.00%
    Other 1 $165,000 $165,000 $0 0.00%

    For 2018, Efcu Financial's most frequently cited loan purpose was Home Purchase, with 28 originations. The 2nd most popular reason was Refi, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 72 $17,440,000 $242,222 $0 0.00%

    For 2018, Efcu Financial's most frequently cited loan duration was Other, with 72 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 31 $4,825,000 $155,645 $0 0.00%
    $200k-400k 24 $6,670,000 $277,917 $0 0.00%
    $400k-600k 10 $4,500,000 $450,000 $0 0.00%
    $100,000 or less 6 $480,000 $80,000 $0 0.00%
    $600k-1MM 1 $965,000 $965,000 $0 0.00%

    2018 saw Efcu Financial place emphasis on $100k-200k loans with 31 originations, totaling $4,825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 22 $5,750,000 $261,364 $0 0.00%
    $50k-75k 13 $1,995,000 $153,462 $0 0.00%
    $75k-100k 12 $2,870,000 $239,167 $0 0.00%
    $50k or less 11 $1,545,000 $140,455 $0 0.00%
    $150k-250k 10 $3,100,000 $310,000 $0 0.00%
    $250k+ 4 $2,180,000 $545,000 $0 0.00%

    Efcu Financial lent most frequently to those with incomes in the $100k-150k range, with 22 originations. The second most popular income band? $50k-75k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 72 $17,440,000 $242,222 $0 0.00%

    Efcu Financial lent most frequently to those with DTI ratios of Exempt%, with 72 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 58 $14,800,000 $255,172 $0 0.00%
    Black 13 $2,375,000 $182,692 $0 0.00%
    Asian 1 $265,000 $265,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.34%

    Efcu Financial has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    90.28%

    Efcu Financial has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 72 $17,440,000 $242,222

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $125,000 $125,000
    Single Family (1-4 Units):Site-Built 71 $17,315,000 $243,873