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 Refi loans. Efcu Financial has a high proportion of conventional loans. Their top markets by origination volume include: Baton Rouge, Hammond, New Orleans, Daphne, and Lake Charles among others. We have data for 11 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
302Origination Dollar Volume (All Markets)
$62,240,000Top 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) | 286 | $59,050,000 | $206,469 | $0 | 0.00% |
| HAMMOND, LA (FHA|USDA|VA) | 5 | $865,000 | $173,000 | $0 | 0.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| LAFAYETTE, LA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $115,000 | $115,000 | $0 | 0.00% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 302 | $62,240,000 | $206,093 | $0 | 0.00% |
For 2020, Efcu Financial's most frequently originated type of loan was Conventional, with 302 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 173 | $39,365,000 | $227,543 | $0 | 0.00% |
| Home Purchase | 69 | $12,345,000 | $178,913 | $0 | 0.00% |
| Cash Out Refi | 60 | $10,530,000 | $175,500 | $0 | 0.00% |
For 2020, Efcu Financial's most frequently cited loan purpose was Refi, with 173 originations. The 2nd most popular reason was Home Purchase, with 69 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 302 | $62,240,000 | $206,093 | $0 | 0.00% |
For 2020, Efcu Financial's most frequently cited loan duration was Other, with 302 originations.
Loan Sizing
2020 saw Efcu Financial place emphasis on $100k-200k loans with 157 originations, totaling $23,285,000 in origination value.
Applicant Income
Efcu Financial lent most frequently to those with incomes in the $100k-150k range, with 94 originations. The second most popular income band? $50k-75k, with 66 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 302 | $62,240,000 | $206,093 | $0 | 0.00% |
Efcu Financial lent most frequently to those with DTI ratios of Exempt%, with 302 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 263 | $53,805,000 | $204,582 | $0 | 0.00% |
| Black | 36 | $7,880,000 | $218,889 | $0 | 0.00% |
| Asian | 3 | $555,000 | $185,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.05%
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 origination91.39%
Efcu Financial has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 302 | $62,240,000 | $206,093 |