Efcu Financial Mortgage Rates, Fees & Info

Baton Rouge, LA

LEI: 549300U18MOAH5F95P15

Tax ID: 72-0433727

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Mortgage Data

Review & Overview

Efcu Financial is a smaller credit union specializing in Home Purchase, Cash Out Refi, and Refi loans. Efcu Financial has a high proportion of conventional loans. Their top markets by origination volume include: Baton Rouge, New Orleans, Hammond, Denver, and Lafayette among others. We have data for 6 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.

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Originations

86

Origination Dollar Volume (All Markets)

$18,310,000

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) 77 $17,065,000 $221,623 $0 0.00%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 5 $675,000 $135,000 $0 0.00%
HAMMOND, LA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
LAFAYETTE, LA (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Outside of Metro Areas 1 $75,000 $75,000 $0 0.00%
Efcu Financial's top markets include Baton Rouge, New Orleans, Hammond, Denver, and Lafayette among others.

Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 86 $18,310,000 $212,907 $0 0.00%

    For 2019, Efcu Financial's most frequently originated type of loan was Conventional, with 86 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 41 $7,985,000 $194,756 $0 0.00%
    Cash Out Refi 26 $5,930,000 $228,077 $0 0.00%
    Refi 19 $4,395,000 $231,316 $0 0.00%

    For 2019, Efcu Financial's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Cash Out Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 86 $18,310,000 $212,907 $0 0.00%

    For 2019, Efcu Financial's most frequently cited loan duration was Other, with 86 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 39 $5,895,000 $151,154 $0 0.00%
    $200k-400k 29 $7,755,000 $267,414 $0 0.00%
    $100,000 or less 10 $730,000 $73,000 $0 0.00%
    $400k-600k 8 $3,930,000 $491,250 $0 0.00%

    2019 saw Efcu Financial place emphasis on $100k-200k loans with 39 originations, totaling $5,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 23 $5,195,000 $225,870 $0 0.00%
    $150k-250k 20 $5,240,000 $262,000 $0 0.00%
    $50k-75k 16 $2,260,000 $141,250 $0 0.00%
    $75k-100k 12 $2,580,000 $215,000 $0 0.00%
    $50k or less 10 $1,280,000 $128,000 $0 0.00%
    $250k+ 5 $1,755,000 $351,000 $0 0.00%

    Efcu Financial lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $150k-250k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 86 $18,310,000 $212,907 $0 0.00%

    Efcu Financial lent most frequently to those with DTI ratios of Exempt%, with 86 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 76 $16,400,000 $215,789 $0 0.00%
    Black 10 $1,910,000 $191,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.94%

    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
    90.70%

    Efcu Financial has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 86 $18,310,000 $212,907

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $115,000 $115,000
    Single Family (1-4 Units):Site-Built 85 $18,195,000 $214,059