Louisiana Usa Federal Credit Union Mortgage Rates, Fees & Info
Baton Rouge, LALEI: 549300U55IW4J0F8P008
Tax ID: 72-0433985
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Louisiana Usa Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Louisiana Usa Federal Credit Union has a high proportion of conventional loans. Their top two markets are Baton Rouge and New Orleans .Louisiana Usa Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. They typically have relatively high rates.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.92% | 4/21/24 |
| 30 Year Conventional Refi | 10.53% | 4/21/24 |
| 30 Year Cash-out Refi | 7.83% | 4/21/24 |
| 15 Year Conventional Purchase | 5.68% | 4/21/24 |
| 15 Year Conventional Refi | 5.66% | 4/21/24 |
| 15 Year Cash-out Refi | 5.66% | 4/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Louisiana Usa Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
14Origination Dollar Volume (All Markets)
$3,570,000Relative Rate
Louisiana Usa Federal Credit Union's average 30 year fixed mortgage rate was
7.2%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.72%.
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) | 13 | $3,245,000 | $249,615 | $0 | 7.16% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 7.63% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 14 | $3,570,000 | $255,000 | $0 | 7.20% |
For 2023, Louisiana Usa Federal Credit Union's most frequently originated type of loan was Conventional, with 14 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 8 | $1,840,000 | $230,000 | $0 | 6.95% |
| Refi | 4 | $1,450,000 | $362,500 | $0 | 7.88% |
| Cash Out Refi | 2 | $280,000 | $140,000 | $0 | 6.81% |
For 2023, Louisiana Usa Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 8 originations. The 2nd most popular reason was Refi, with 4 originations.
Loan Duration/Length
For 2023, Louisiana Usa Federal Credit Union's most frequently cited loan duration was 30 Year, with 8 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 12 | $3,430,000 | $285,833 |
| $1k-2k | 2 | $140,000 | $70,000 |
Louisiana Usa Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 12 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 7 | $2,315,000 | $330,714 |
| 6-7% | 6 | $1,190,000 | $198,333 |
| Over 8% | 1 | $65,000 | $65,000 |
During 2023, Louisiana Usa Federal Credit Union's average interest rate for loans was 7.20%, while their most frequently originated rate bucket for loans was 7-8%, with 7 originations.
Loan Sizing
2023 saw Louisiana Usa Federal Credit Union place emphasis on $200k-400k loans with 8 originations, totaling $2,130,000 in origination value.
Applicant Income
Louisiana Usa Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 5 originations. The second most popular income band? $250k+, with 2 originations.
Applicant Debt to Income Ratio
Louisiana Usa Federal Credit Union lent most frequently to those with DTI ratios of 41%, with 3 originations. The next most common DTI ratio? 20-30%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 13 | $3,505,000 | $269,615 | $0 | 7.20% |
| Black | 1 | $65,000 | $65,000 | $0 | 7.13% |
Approval Rates
Total approvals of all applications96.67%
Louisiana Usa Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination78.57%
Louisiana Usa Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 14 | $3,570,000 | $255,000 |