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 Cash Out Refi, Home Purchase, and 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, and Fort Polk South among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)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 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% | 5/5/24 |
| 30 Year Conventional Refi | 10.53% | 5/5/24 |
| 30 Year Cash-out Refi | 7.83% | 5/5/24 |
| 15 Year Conventional Purchase | 5.68% | 5/5/24 |
| 15 Year Conventional Refi | 5.66% | 5/5/24 |
| 15 Year Cash-out Refi | 5.66% | 5/5/24 |
| 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
26Origination Dollar Volume (All Markets)
$4,860,000Top 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) | 21 | $4,285,000 | $204,048 | $0 | 4.36% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 4 | $350,000 | $87,500 | $0 | 5.34% |
| Fort Polk South, LA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 3.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 26 | $4,860,000 | $186,923 | $0 | 4.47% |
For 2022, Louisiana Usa Federal Credit Union's most frequently originated type of loan was Conventional, with 26 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 12 | $1,890,000 | $157,500 | $0 | 4.49% |
| Home Purchase | 8 | $1,930,000 | $241,250 | $0 | 4.86% |
| Refi | 6 | $1,040,000 | $173,333 | $0 | 3.92% |
For 2022, Louisiana Usa Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 12 originations. The 2nd most popular reason was Home Purchase, with 8 originations.
Loan Duration/Length
For 2022, Louisiana Usa Federal Credit Union's most frequently cited loan duration was 30 Year, with 15 originations. The 2nd most popular length was 15 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 21 | $3,765,000 | $179,286 |
| $1k-2k | 4 | $940,000 | $235,000 |
| $3k-4k | 1 | $155,000 | $155,000 |
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 21 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 9 | $1,795,000 | $199,444 |
| 4-5% | 8 | $1,610,000 | $201,250 |
| 5-6% | 6 | $990,000 | $165,000 |
| 6-7% | 2 | $340,000 | $170,000 |
| 2.5-3% | 1 | $125,000 | $125,000 |
During 2022, Louisiana Usa Federal Credit Union's average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 3-4%, with 9 originations.
Loan Sizing
2022 saw Louisiana Usa Federal Credit Union place emphasis on $100k-200k loans with 10 originations, totaling $1,710,000 in origination value.
Applicant Income
Louisiana Usa Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $50k or less, with 7 originations.
Applicant Debt to Income Ratio
Louisiana Usa Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 30-36%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 20 | $4,080,000 | $204,000 | $0 | 4.44% |
| Black | 6 | $780,000 | $130,000 | $0 | 4.58% |
Approval Rates
Total approvals of all applications91.84%
Louisiana Usa Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination88.46%
Louisiana Usa Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 26 | $4,860,000 | $186,923 |