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 Refi, Home Purchase, 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, Lafayette, Hammond, and Gulfport 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.

    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

    221

    Origination Dollar Volume (All Markets)

    $48,695,000

    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) 207 $45,755,000 $221,039 $0 0.00%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 9 $2,085,000 $231,667 $0 0.00%
    LAFAYETTE, LA (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    HAMMOND, LA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    Outside of Metro Areas 2 $210,000 $105,000 $0 0.00%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Efcu Financial's top markets include Baton Rouge, New Orleans, Lafayette, Hammond, and Gulfport among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 221 $48,695,000 $220,339 $0 0.00%

    For 2021, Efcu Financial's most frequently originated type of loan was Conventional, with 221 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 108 $24,210,000 $224,167 $0 0.00%
    Home Purchase 61 $14,185,000 $232,541 $0 0.00%
    Cash Out Refi 52 $10,300,000 $198,077 $0 0.00%

    For 2021, Efcu Financial's most frequently cited loan purpose was Refi, with 108 originations. The 2nd most popular reason was Home Purchase, with 61 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 221 $48,695,000 $220,339 $0 0.00%

    For 2021, Efcu Financial's most frequently cited loan duration was Other, with 221 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 92 $24,200,000 $263,043 $0 0.00%
    $100k-200k 86 $12,990,000 $151,047 $0 0.00%
    $100,000 or less 22 $1,610,000 $73,182 $0 0.00%
    $400k-600k 21 $9,895,000 $471,190 $0 0.00%

    2021 saw Efcu Financial place emphasis on $200k-400k loans with 92 originations, totaling $24,200,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 58 $14,580,000 $251,379 $0 0.00%
    $50k-75k 54 $9,150,000 $169,444 $0 0.00%
    $75k-100k 49 $10,005,000 $204,184 $0 0.00%
    $150k-250k 30 $9,500,000 $316,667 $0 0.00%
    $50k or less 22 $2,740,000 $124,545 $0 0.00%
    $250k+ 8 $2,720,000 $340,000 $0 0.00%

    Efcu Financial lent most frequently to those with incomes in the $100k-150k range, with 58 originations. The second most popular income band? $50k-75k, with 54 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 221 $48,695,000 $220,339 $0 0.00%

    Efcu Financial lent most frequently to those with DTI ratios of Exempt%, with 221 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 192 $43,260,000 $225,313 $0 0.00%
    Black 27 $5,105,000 $189,074 $0 0.00%
    Vietnamese 1 $245,000 $245,000 $0 0.00%
    Not provided 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.40%

    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
    91.86%

    Efcu Financial has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 221 $48,695,000 $220,339

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    221 $48,695,000 $220,339