Honda Federal Credit Union Mortgage Rates, Fees & Info

Torrance, CA

LEI: 549300VBY3NBKUNMKL64

Tax ID: 95-3036119

5 stars - Updated: 3/3/24 - out of 5 stars, based on 32 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Honda Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Honda Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Bellefontaine, Los Angeles, Sidney, and Atlanta among others. We have data for 96 markets. (Some data included below & more in-depth data is available with an active subscription.)

Honda 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. Honda Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 4.61% 3/3/24
30 Year Conventional Purchase 6.08% 3/3/24
30 Year Conventional Refi 6.00% 3/3/24
30 Year Cash-out Refi 6.33% 3/3/24
15 Year Conventional Purchase 6.16% 3/3/24
15 Year Conventional Refi 5.49% 3/3/24
15 Year Cash-out Refi 5.49% 3/3/24
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.

Honda Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Honda Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

1,027

Origination Dollar Volume (All Markets)

$147,115,000

Awards

HONDA Federal Credit Union 30 Year Conventional Loans gold HONDA Federal Credit Union 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Honda Federal Credit Union's average 30 year fixed mortgage rate was 4.68%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.08%.

Relative Fees (Closing Costs)

Honda Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,582.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

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
COLUMBUS, OH (FHA|USDA|VA) 264 $36,050,000 $136,553 $2,952 4.35%
Bellefontaine, OH (FHA|USDA|VA) 140 $15,770,000 $112,643 $2,882 4.44%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 61 $15,605,000 $255,820 $4,731 3.86%
Sidney, OH (FHA|USDA|VA) 65 $8,495,000 $130,692 $2,951 4.53%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 40 $8,000,000 $200,000 $4,465 4.70%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 39 $5,195,000 $133,205 $2,027 5.08%
Urbana, OH (FHA|USDA|VA) 48 $5,040,000 $105,000 $2,860 4.26%
Wapakoneta, OH (FHA|USDA|VA) 34 $3,770,000 $110,882 $2,337 4.89%
Outside of Metro Areas 41 $3,525,000 $85,976 $2,217 4.48%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 15 $2,425,000 $161,667 $2,489 4.87%
LIMA, OH (FHA|USDA|VA) 19 $2,325,000 $122,368 $3,370 4.24%
Talladega-Sylacauga, AL (FHA|USDA|VA) 21 $2,015,000 $95,952 $1,434 5.22%
Marion, OH (FHA|USDA|VA) 20 $2,010,000 $100,500 $2,447 3.92%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 5 $1,965,000 $393,000 $8,359 3.48%
FLORENCE, SC (FHA|USDA|VA) 12 $1,700,000 $141,667 $3,150 4.96%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $1,630,000 $815,000 $6,347 4.25%
Greensburg, IN (FHA|USDA|VA) 13 $1,595,000 $122,692 $1,709 4.80%
DAYTON-KETTERING, OH (FHA|USDA|VA) 11 $1,495,000 $135,909 $2,294 5.15%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 13 $1,365,000 $105,000 $1,791 4.77%
Celina, OH (FHA|USDA|VA) 12 $1,280,000 $106,667 $2,929 4.10%
SPRINGFIELD, OH (FHA|USDA|VA) 13 $1,175,000 $90,385 $1,300 5.38%
GADSDEN, AL (FHA|USDA|VA) 14 $1,110,000 $79,286 $1,790 4.04%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 9 $1,065,000 $118,333 $2,368 5.38%
RALEIGH-CARY, NC (FHA|USDA|VA) 3 $1,065,000 $355,000 $4,655 5.21%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 10 $990,000 $99,000 $1,788 5.25%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $955,000 $955,000 $26,523 2.38%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 8 $940,000 $117,500 $1,063 4.64%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $885,000 $295,000 $7,390 3.92%
WINSTON-SALEM, NC (FHA|USDA|VA) 3 $735,000 $245,000 $2,162 4.08%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $705,000 $235,000 $5,071 5.50%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $700,000 $350,000 $2,811 3.69%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $645,000 $645,000 $5,756 2.63%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $640,000 $320,000 $3,702 4.25%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $520,000 $260,000 $3,127 3.88%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $495,000 $495,000 $3,188 4.63%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $475,000 $475,000 $3,621 3.13%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $465,000 $465,000 $18,058 3.13%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $465,000 $465,000 $14,152 4.25%
Greenville, OH (FHA|USDA|VA) 1 $455,000 $455,000 $0 3.50%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $430,000 $215,000 $0 4.25%
SAVANNAH, GA (FHA|USDA|VA) 1 $415,000 $415,000 $4,097 4.50%
Kendallville, IN (FHA|USDA|VA) 1 $405,000 $405,000 $3,027 3.50%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $390,000 $195,000 $1,509 5.00%
Connersville, IN (FHA|USDA|VA) 4 $380,000 $95,000 $2,223 4.00%
SPRINGFIELD, MA (FHA|USDA|VA) 2 $380,000 $190,000 $5,320 3.75%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $375,000 $375,000 $5,629 2.63%
North Vernon, IN (FHA|USDA|VA) 1 $355,000 $355,000 $9,580 3.50%
Outside of Metro Areas 1 $355,000 $355,000 $4,722 3.13%
READING, PA (FHA|USDA|VA) 2 $340,000 $170,000 $2,113 6.19%
DECATUR, AL (FHA|USDA|VA) 2 $330,000 $165,000 $2,906 4.88%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $325,000 $325,000 $14,152 4.38%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $305,000 $305,000 $11,150 5.00%
Findlay, OH (FHA|USDA|VA) 1 $295,000 $295,000 $3,620 5.13%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $295,000 $295,000 $9,222 5.38%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $275,000 $275,000 $3,959 6.75%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $270,000 $135,000 $1,615 4.13%
GAINESVILLE, GA (FHA|USDA|VA) 1 $255,000 $255,000 $3,571 5.75%
COLUMBUS, IN (FHA|USDA|VA) 3 $255,000 $85,000 $2,206 4.63%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $255,000 $255,000 $7,478 2.00%
LOUISVILLE, KY (FHA|USDA|VA) 1 $245,000 $245,000 $2,701 3.25%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $245,000 $245,000 $3,102 2.38%
FLINT, MI (FHA|USDA|VA) 1 $235,000 $235,000 $2,905 3.88%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $215,000 $215,000 $3,635 5.00%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $215,000 $215,000 $3,820 3.13%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,577 5.88%
Whitewater, WI (FHA|USDA|VA) 1 $205,000 $205,000 $2,830 5.13%
COLUMBIA, SC (FHA|USDA|VA) 2 $200,000 $100,000 $2,625 3.88%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $195,000 $195,000 $10,981 3.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,711 2.38%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $185,000 $185,000 $0 5.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $165,000 $165,000 $3,905 6.38%
Madison, IN (FHA|USDA|VA) 1 $145,000 $145,000 $2,232 4.13%
BURLINGTON, NC (FHA|USDA|VA) 2 $140,000 $70,000 $0 5.88%
SUMTER, SC (FHA|USDA|VA) 2 $140,000 $70,000 $0 7.50%
GREENVILLE, NC (FHA|USDA|VA) 1 $125,000 $125,000 $2,802 4.25%
BRUNSWICK, GA (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.50%
RICHMOND, VA (FHA|USDA|VA) 1 $125,000 $125,000 $2,708 3.38%
Norwalk, OH (FHA|USDA|VA) 1 $125,000 $125,000 $2,735 3.50%
Palatka, FL (FHA|USDA|VA) 1 $115,000 $115,000 $2,369 2.88%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $105,000 $105,000 $2,683 5.50%
KNOXVILLE, TN (FHA|USDA|VA) 1 $105,000 $105,000 $2,527 3.50%
Martinsville, VA (FHA|USDA|VA) 1 $95,000 $95,000 $2,602 2.88%
Alexander City, AL (FHA|USDA|VA) 1 $95,000 $95,000 $0 5.50%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $90,000 $45,000 $0 4.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $85,000 $85,000 $2,655 2.38%
HATTIESBURG, MS (FHA|USDA|VA) 1 $75,000 $75,000 $2,802 2.63%
Van Wert, OH (FHA|USDA|VA) 1 $75,000 $75,000 $2,759 5.13%
Seneca, SC (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.00%
EspaƱola, NM (FHA|USDA|VA) 1 $65,000 $65,000 $2,753 4.88%
Milledgeville, GA (FHA|USDA|VA) 1 $65,000 $65,000 $2,671 3.13%
Point Pleasant, WV-OH (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.50%
Richmond, IN (FHA|USDA|VA) 2 $60,000 $30,000 $0 6.75%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.75%
Wilmington, OH (FHA|USDA|VA) 1 $25,000 $25,000 $0 6.25%
Marietta, OH (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.25%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $15,000 $15,000 $0 5.88%
Honda Federal Credit Union's top markets include Columbus, Bellefontaine, Los Angeles, Sidney, and Atlanta among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against HONDA Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Liberty Mortgage Corporation
    Similarity Rank: 315
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    EDUCATION FIRST CREDIT UNION, INC.
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 564 $100,240,000 $177,730 $3,049 4.72%
    HELOC 463 $46,875,000 $101,242 n/a 4.17%

    For 2022, Honda Federal Credit Union's most frequently originated type of loan was Conventional, with 564 originations. Their 2nd most popular type was HELOC, with 463 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 662 $70,210,000 $106,057 $1,617 4.48%
    Home Purchase 249 $61,915,000 $248,655 $4,616 4.66%
    Home Improvement 78 $8,480,000 $108,718 $2,234 4.39%
    Refi 38 $6,510,000 $171,316 $3,261 3.28%

    For 2022, Honda Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 662 originations. The 2nd most popular reason was Home Purchase, with 249 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 439 $46,765,000 $106,526 $1,707 4.23%
    30 Year 378 $76,610,000 $202,672 $4,582 4.68%
    15 Year 121 $14,395,000 $118,967 $2,095 4.57%
    10 Year 55 $3,885,000 $70,636 $1,022 4.82%
    Other 19 $4,835,000 $254,474 $4,870 3.84%
    5 Year 15 $625,000 $41,667 $38 5.44%

    For 2022, Honda Federal Credit Union's most frequently cited loan duration was 20 Year, with 439 originations. The 2nd most popular length was 30 Year, with 378 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 541 $95,035,000 $175,665
    $2k-3k 7 $1,325,000 $189,286
    $4k-5k 6 $1,590,000 $265,000
    $5k+ 5 $1,425,000 $285,000
    $1k-2k 2 $190,000 $95,000
    $3k-4k 2 $640,000 $320,000

    Honda Federal Credit Union's average total fees were $4,582, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 541 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 444 $63,160,000 $142,252
    4-5% 191 $32,585,000 $170,602
    5-6% 172 $22,090,000 $128,430
    6-7% 92 $9,420,000 $102,391
    2.5-3% 49 $10,565,000 $215,612
    <2.5% 38 $6,920,000 $182,105
    7-8% 32 $2,000,000 $62,500
    Over 8% 9 $375,000 $41,667

    During 2022, Honda Federal Credit Union's average interest rate for loans was 4.68%, while their most frequently originated rate bucket for loans was 3-4%, with 444 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 480 $25,000,000 $52,083 $940 4.80%
    $100k-200k 295 $40,905,000 $138,661 $2,949 4.21%
    $200k-400k 202 $55,550,000 $275,000 $4,603 4.24%
    $400k-600k 43 $19,975,000 $464,535 $7,101 3.90%
    $600k-1MM 6 $4,240,000 $706,667 $10,803 3.19%
    $1MM+ 1 $1,445,000 $1,445,000 $6,347 4.50%

    2022 saw Honda Federal Credit Union place emphasis on $100,000 or less loans with 480 originations, totaling $25,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 268 $28,420,000 $106,045 $2,387 4.48%
    $100k-150k 238 $38,560,000 $162,017 $3,687 4.52%
    $75k-100k 217 $32,335,000 $149,009 $3,284 4.54%
    $150k-250k 152 $31,890,000 $209,803 $3,662 4.38%
    $50k or less 118 $8,910,000 $75,508 $2,200 4.44%
    $250k+ 17 $5,345,000 $314,412 $3,878 3.90%

    Honda Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 268 originations. The second most popular income band? $100k-150k, with 238 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 232 $31,830,000 $137,198 $3,243 4.26%
    30-36% 178 $29,360,000 $164,944 $3,222 4.51%
    <20% 130 $15,780,000 $121,385 $2,750 4.29%
    37% 50 $6,380,000 $127,600 $2,157 4.69%
    50-60% 43 $7,465,000 $173,605 $3,356 4.38%
    41% 41 $5,125,000 $125,000 $2,225 4.74%
    44% 40 $5,140,000 $128,500 $2,784 4.88%
    36% 38 $4,980,000 $131,053 $2,761 4.31%
    42% 33 $3,765,000 $114,091 $2,426 4.79%
    43% 33 $4,485,000 $135,909 $4,027 4.52%
    38% 32 $3,330,000 $104,063 $1,720 4.98%
    39% 31 $4,905,000 $158,226 $4,293 4.60%
    40% 25 $3,965,000 $158,600 $2,292 4.69%
    46% 24 $4,350,000 $181,250 $4,059 4.16%
    47% 23 $3,015,000 $131,087 $3,933 4.03%
    45% 21 $3,435,000 $163,571 $3,218 4.64%
    48% 16 $2,120,000 $132,500 $1,264 5.31%
    49% 12 $1,940,000 $161,667 $2,643 4.90%
    >60% 9 $2,475,000 $275,000 $3,116 4.22%

    Honda Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 232 originations. The next most common DTI ratio? 30-36%, with 178 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 756 $107,450,000 $142,130 $3,094 4.48%
    Not provided 176 $25,070,000 $142,443 $2,898 4.36%
    Black 56 $5,820,000 $103,929 $2,151 5.04%
    Asian 19 $4,495,000 $236,579 $4,818 3.89%
    American Indian 5 $1,045,000 $209,000 $2,409 4.75%
    Other Asian 3 $725,000 $241,667 $2,935 4.75%
    Japanese 2 $670,000 $335,000 $8,233 2.13%
    Native Hawaiian or Islander 2 $570,000 $285,000 $6,820 4.69%
    Korean 2 $530,000 $265,000 $0 4.25%
    Asian Indian 3 $395,000 $131,667 $3,241 4.00%
    Samoan 2 $240,000 $120,000 $0 3.75%
    Filipino 1 $105,000 $105,000 $0 6.50%

    Approval Rates

    Total approvals of all applications
    93.05%

    Honda Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.14%

    Honda Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,027 $147,115,000 $143,247

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,027 $147,115,000 $143,247

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 259 $25,795,000 $99,595 $1,269 4.62%
    40-60% 131 $22,235,000 $169,733 $3,910 4.14%
    60-80% 198 $45,510,000 $229,848 $4,170 4.10%
    80-100% 155 $38,375,000 $247,581 $4,187 4.43%
    Under 20% 284 $15,200,000 $53,521 $190 4.79%