Honda Federal Credit Union Mortgage Rates, Fees & Info

Torrance, CA

LEI: 549300VBY3NBKUNMKL64

Tax ID: 95-3036119

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

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Mortgage Data

Review & Overview

Honda Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Honda Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Los Angeles, Bellefontaine, Sidney, and Birmingham among others. We have data for 91 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% 3/28/24
30 Year Conventional Purchase 6.08% 3/28/24
30 Year Conventional Refi 6.00% 3/28/24
30 Year Cash-out Refi 6.33% 3/28/24
15 Year Conventional Purchase 6.16% 3/28/24
15 Year Conventional Refi 5.49% 3/28/24
15 Year Cash-out Refi 5.49% 3/28/24
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.

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

1,174

Origination Dollar Volume (All Markets)

$183,090,000

Awards

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

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) 283 $42,145,000 $148,922 $2,961 3.27%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 86 $26,290,000 $305,698 $4,772 3.40%
Bellefontaine, OH (FHA|USDA|VA) 150 $17,810,000 $118,733 $2,891 3.25%
Outside of Metro Areas 72 $8,980,000 $124,722 $2,935 3.51%
Sidney, OH (FHA|USDA|VA) 58 $7,410,000 $127,759 $2,790 3.29%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 44 $6,770,000 $153,864 $2,321 3.49%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 34 $6,290,000 $185,000 $5,029 3.38%
Urbana, OH (FHA|USDA|VA) 50 $5,680,000 $113,600 $2,377 3.43%
Wapakoneta, OH (FHA|USDA|VA) 34 $4,230,000 $124,412 $2,715 3.32%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 29 $3,395,000 $117,069 $2,195 3.55%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 16 $2,980,000 $186,250 $2,738 2.98%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 27 $2,905,000 $107,593 $2,501 3.44%
FLORENCE, SC (FHA|USDA|VA) 19 $2,785,000 $146,579 $4,478 3.22%
SPRINGFIELD, OH (FHA|USDA|VA) 23 $2,635,000 $114,565 $2,896 3.07%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 7 $2,415,000 $345,000 $7,156 3.73%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 6 $2,280,000 $380,000 $10,288 2.54%
Greensburg, IN (FHA|USDA|VA) 19 $2,175,000 $114,474 $2,042 3.16%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 15 $2,105,000 $140,333 $2,596 3.42%
Marion, OH (FHA|USDA|VA) 21 $1,965,000 $93,571 $2,673 3.26%
GADSDEN, AL (FHA|USDA|VA) 15 $1,885,000 $125,667 $2,670 3.63%
DAYTON-KETTERING, OH (FHA|USDA|VA) 15 $1,655,000 $110,333 $2,980 3.27%
Talladega-Sylacauga, AL (FHA|USDA|VA) 12 $1,610,000 $134,167 $3,429 3.30%
LIMA, OH (FHA|USDA|VA) 12 $1,370,000 $114,167 $2,455 3.72%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 3 $1,255,000 $418,333 $3,351 2.83%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $1,245,000 $1,245,000 $4,761 3.00%
Celina, OH (FHA|USDA|VA) 11 $975,000 $88,636 $2,855 3.11%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $900,000 $450,000 $3,722 2.94%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 3 $885,000 $295,000 $4,214 3.75%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 4 $870,000 $217,500 $3,029 4.03%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $820,000 $410,000 $7,108 2.88%
COLUMBUS, IN (FHA|USDA|VA) 7 $785,000 $112,143 $1,560 4.70%
Albertville, AL (FHA|USDA|VA) 3 $775,000 $258,333 $2,956 2.83%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $775,000 $258,333 $7,527 2.63%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $725,000 $241,667 $6,298 2.50%
RICHMOND, VA (FHA|USDA|VA) 2 $650,000 $325,000 $6,878 2.63%
BURLINGTON, NC (FHA|USDA|VA) 5 $615,000 $123,000 $2,569 3.05%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $600,000 $300,000 $3,120 3.63%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $550,000 $275,000 $7,433 2.69%
WINSTON-SALEM, NC (FHA|USDA|VA) 4 $530,000 $132,500 $1,407 4.53%
TOLEDO, OH (FHA|USDA|VA) 2 $510,000 $255,000 $3,745 2.94%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 3 $465,000 $155,000 $2,575 4.42%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $455,000 $455,000 $0 3.50%
Greenville, OH (FHA|USDA|VA) 3 $425,000 $141,667 $3,076 3.13%
New Castle, IN (FHA|USDA|VA) 3 $425,000 $141,667 $1,846 4.50%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $400,000 $200,000 $2,736 2.75%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 3 $385,000 $128,333 $2,372 3.42%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $375,000 $375,000 $14,676 2.25%
Frankfort, KY (FHA|USDA|VA) 1 $355,000 $355,000 $3,311 2.38%
SAVANNAH, GA (FHA|USDA|VA) 1 $355,000 $355,000 $3,563 3.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $345,000 $345,000 $3,485 2.75%
Findlay, OH (FHA|USDA|VA) 3 $345,000 $115,000 $1,602 3.75%
Sevierville, TN (FHA|USDA|VA) 1 $345,000 $345,000 $3,485 3.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $335,000 $335,000 $4,153 2.75%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $335,000 $335,000 $4,196 3.00%
MANSFIELD, OH (FHA|USDA|VA) 1 $325,000 $325,000 $3,163 2.00%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $315,000 $315,000 $2,853 3.00%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $315,000 $315,000 $2,849 3.50%
COLUMBIA, SC (FHA|USDA|VA) 1 $305,000 $305,000 $3,218 3.00%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $295,000 $295,000 $11,946 2.25%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $285,000 $285,000 $10,102 2.75%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $260,000 $130,000 $1,807 4.38%
FORT WAYNE, IN (FHA|USDA|VA) 1 $245,000 $245,000 $2,290 2.75%
Connersville, IN (FHA|USDA|VA) 3 $235,000 $78,333 $2,587 3.17%
Seneca, SC (FHA|USDA|VA) 1 $235,000 $235,000 $3,291 2.38%
BOISE CITY, ID (FHA|USDA|VA) 1 $215,000 $215,000 $3,941 3.00%
CANTON-MASSILLON, OH (FHA|USDA|VA) 3 $215,000 $71,667 $1,580 3.75%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $215,000 $215,000 $2,991 2.50%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $205,000 $205,000 $4,290 3.00%
Point Pleasant, WV-OH (FHA|USDA|VA) 1 $205,000 $205,000 $3,183 3.25%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $205,000 $205,000 $2,430 3.00%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,173 3.00%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $185,000 $185,000 $2,570 3.25%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,994 3.50%
SUMTER, SC (FHA|USDA|VA) 1 $145,000 $145,000 $2,987 3.25%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $145,000 $145,000 $3,101 3.13%
Alexander City, AL (FHA|USDA|VA) 1 $135,000 $135,000 $2,563 2.63%
Norwalk, OH (FHA|USDA|VA) 1 $135,000 $135,000 $2,836 2.63%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $130,000 $65,000 $0 3.50%
Athens, OH (FHA|USDA|VA) 1 $125,000 $125,000 $3,192 2.38%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $125,000 $125,000 $2,705 3.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $125,000 $125,000 $2,227 2.38%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $115,000 $115,000 $2,879 2.75%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $115,000 $115,000 $2,810 2.50%
Van Wert, OH (FHA|USDA|VA) 1 $105,000 $105,000 $3,058 3.00%
Richmond, IN (FHA|USDA|VA) 1 $95,000 $95,000 $2,070 3.38%
Cedartown, GA (FHA|USDA|VA) 1 $85,000 $85,000 $2,755 2.38%
Mount Vernon, OH (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.50%
AKRON, OH (FHA|USDA|VA) 1 $65,000 $65,000 $3,009 2.50%
VALDOSTA, GA (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.50%
STOCKTON, CA (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.50%
Hillsdale, MI (FHA|USDA|VA) 1 $45,000 $45,000 $2,310 2.88%
Honda Federal Credit Union's top markets include Columbus, Los Angeles, Bellefontaine, Sidney, and Birmingham among others.

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

    Western Ohio Mortgage Corporation
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 844 $154,230,000 $182,737 $3,183 3.15%
    HELOC 330 $28,860,000 $87,455 n/a 3.77%

    For 2021, Honda Federal Credit Union's most frequently originated type of loan was Conventional, with 844 originations. Their 2nd most popular type was HELOC, with 330 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 572 $75,240,000 $131,538 $2,655 3.51%
    Home Purchase 256 $57,670,000 $225,273 $4,236 3.08%
    Refi 241 $39,095,000 $162,220 $3,018 2.89%
    Other 75 $5,115,000 $68,200 $401 4.29%
    Home Improvement 30 $5,970,000 $199,000 $2,936 2.98%

    For 2021, Honda Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 572 originations. The 2nd most popular reason was Home Purchase, with 256 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 524 $60,630,000 $115,706 $2,689 3.62%
    30 Year 325 $79,275,000 $243,923 $4,048 3.10%
    15 Year 226 $30,910,000 $136,770 $2,825 2.83%
    10 Year 63 $4,745,000 $75,317 $1,641 3.89%
    Other 30 $7,310,000 $243,667 $3,206 2.67%
    5 Year 6 $220,000 $36,667 $312 5.04%

    For 2021, Honda Federal Credit Union's most frequently cited loan duration was 20 Year, with 524 originations. The 2nd most popular length was 30 Year, with 325 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 827 $147,645,000 $178,531
    $1k-2k 10 $4,500,000 $450,000
    $3k-4k 2 $470,000 $235,000
    $4k-5k 2 $540,000 $270,000
    $5k+ 2 $900,000 $450,000
    $2k-3k 1 $175,000 $175,000

    Honda Federal Credit Union's average total fees were $4,048, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 827 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 483 $64,265,000 $133,054
    2.5-3% 281 $58,825,000 $209,342
    <2.5% 279 $52,295,000 $187,437
    5-6% 62 $3,930,000 $63,387
    4-5% 33 $2,105,000 $63,788
    6-7% 28 $1,350,000 $48,214
    7-8% 6 $270,000 $45,000
    Over 8% 2 $50,000 $25,000

    During 2021, Honda Federal Credit Union's average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was 3-4%, with 483 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 440 $63,130,000 $143,477 $2,917 2.98%
    $100,000 or less 435 $23,445,000 $53,897 $1,685 3.94%
    $200k-400k 243 $65,105,000 $267,922 $3,868 2.95%
    $400k-600k 41 $19,225,000 $468,902 $7,501 2.91%
    $600k-1MM 13 $9,475,000 $728,846 $10,749 2.79%
    $1MM+ 2 $2,710,000 $1,355,000 $6,618 3.00%

    2021 saw Honda Federal Credit Union place emphasis on $100k-200k loans with 440 originations, totaling $63,130,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 320 $38,420,000 $120,063 $2,803 3.24%
    $100k-150k 289 $49,375,000 $170,848 $3,290 3.32%
    $75k-100k 233 $36,355,000 $156,030 $3,325 3.32%
    $50k or less 154 $15,760,000 $102,338 $2,379 3.48%
    $150k-250k 127 $29,765,000 $234,370 $4,322 3.31%
    $250k+ 32 $10,180,000 $318,125 $5,987 3.49%

    Honda Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 320 originations. The second most popular income band? $100k-150k, with 289 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 342 $54,720,000 $160,000 $3,439 3.11%
    30-36% 205 $32,245,000 $157,293 $3,039 3.30%
    <20% 152 $21,620,000 $142,237 $3,266 3.12%
    40% 47 $6,445,000 $137,128 $2,399 3.56%
    36% 44 $6,240,000 $141,818 $3,594 3.45%
    50-60% 42 $7,030,000 $167,381 $3,529 3.73%
    38% 39 $7,045,000 $180,641 $3,269 3.30%
    41% 37 $5,435,000 $146,892 $3,341 3.32%
    39% 34 $5,390,000 $158,529 $3,647 3.51%
    44% 31 $3,895,000 $125,645 $2,017 3.74%
    37% 31 $4,925,000 $158,871 $2,873 3.52%
    42% 28 $3,950,000 $141,071 $3,692 3.58%
    46% 26 $4,940,000 $190,000 $3,032 3.33%
    43% 25 $3,425,000 $137,000 $2,552 3.80%
    45% 24 $4,470,000 $186,250 $3,112 3.53%
    48% 22 $3,230,000 $146,818 $2,735 3.66%
    49% 19 $3,455,000 $181,842 $2,608 3.82%
    47% 16 $2,270,000 $141,875 $2,309 3.77%
    >60% 9 $2,155,000 $239,444 $3,557 3.40%

    Honda Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 342 originations. The next most common DTI ratio? 30-36%, with 205 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 883 $129,125,000 $146,234 $3,119 3.28%
    Not provided 172 $28,880,000 $167,907 $3,069 3.51%
    Asian 40 $11,020,000 $275,500 $4,338 3.00%
    Black 58 $9,610,000 $165,690 $3,492 3.48%
    Japanese 6 $1,340,000 $223,333 $3,483 2.96%
    American Indian 6 $950,000 $158,333 $2,926 4.00%
    Asian Indian 3 $905,000 $301,667 $9,979 3.08%
    Filipino 4 $900,000 $225,000 $1,587 3.69%
    Chinese 1 $335,000 $335,000 $2,888 3.25%
    Native Hawaiian or Islander 1 $25,000 $25,000 $325 5.50%

    Approval Rates

    Total approvals of all applications
    93.06%

    Honda Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.22%

    Honda Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,174 $183,090,000 $155,954

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,174 $183,090,000 $155,954

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 194 $20,280,000 $104,536 $2,871 3.65%
    40-60% 190 $33,280,000 $175,158 $3,366 2.91%
    60-80% 372 $73,860,000 $198,548 $3,563 2.89%
    80-100% 193 $44,105,000 $228,523 $3,528 3.04%
    Under 20% 225 $11,565,000 $51,400 $489 4.34%