Efcu Financial Mortgage Rates, Fees & Info
Baton Rouge, LALEI: 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
86Origination Dollar Volume (All Markets)
$18,310,000Top 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% |
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
2019 saw Efcu Financial place emphasis on $100k-200k loans with 39 originations, totaling $5,895,000 in origination value.
Applicant Income
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 applications97.94%
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 origination90.70%
Efcu Financial has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 86 | $18,310,000 | $212,907 |