Louisiana Usa Federal Credit Union Mortgage Rates, Fees & Info
Baton Rouge, LALEI: 549300U55IW4J0F8P008
Tax ID: 72-0433985
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Mortgage Data
Review & Overview
Louisiana Usa Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Louisiana Usa Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Baton Rouge, New Orleans, Laurel, and Hammond among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Louisiana Usa Federal Credit Union has an 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 about average 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% | 4/28/24 |
| 30 Year Conventional Refi | 10.53% | 4/28/24 |
| 30 Year Cash-out Refi | 7.83% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 4/28/24 |
| 15 Year Conventional Refi | 5.66% | 4/28/24 |
| 15 Year Cash-out Refi | 5.66% | 4/28/24 |
| 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
41Origination Dollar Volume (All Markets)
$6,195,000Top 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) | 35 | $5,265,000 | $150,429 | $0 | 5.48% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $0 | 5.16% |
| Laurel, MS (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 5.00% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 4.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 41 | $6,195,000 | $151,098 | $0 | 5.42% |
For 2018, Louisiana Usa Federal Credit Union's most frequently originated type of loan was Conventional, with 41 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 21 | $3,735,000 | $177,857 | $0 | 5.13% |
| Cash Out Refi | 15 | $1,565,000 | $104,333 | $0 | 5.90% |
| Refi | 5 | $895,000 | $179,000 | $0 | 5.19% |
For 2018, Louisiana Usa Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 21 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.
Loan Duration/Length
For 2018, Louisiana Usa Federal Credit Union's most frequently cited loan duration was 15 Year, with 17 originations. The 2nd most popular length was 30 Year, with 15 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 41 | $6,195,000 | $151,098 |
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 41 originations.
Interest Rates
During 2018, Louisiana Usa Federal Credit Union's average interest rate for loans was 4.98%, while their most frequently originated rate bucket for loans was 4-5%, with 18 originations.
Loan Sizing
2018 saw Louisiana Usa Federal Credit Union place emphasis on $100k-200k loans with 16 originations, totaling $2,440,000 in origination value.
Applicant Income
Louisiana Usa Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 11 originations. The second most popular income band? $100k-150k, with 9 originations.
Applicant Debt to Income Ratio
Louisiana Usa Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? 42%, with 6 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 29 | $4,995,000 | $172,241 | $0 | 5.28% |
| Black | 9 | $935,000 | $103,889 | $0 | 5.93% |
| Not provided | 3 | $265,000 | $88,333 | $0 | 5.21% |
Approval Rates
Total approvals of all applications84.04%
Louisiana Usa Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination46.34%
Louisiana Usa Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 41 | $6,195,000 | $151,098 |