Wymar Federal Credit Union Mortgage Rates, Fees & Info

Geismar, LA

LEI: 549300ZTLWGMV712KR44

Tax ID: 72-0551662

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Mortgage Data

Review & Overview

Wymar Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Wymar Federal Credit Union has a high proportion of conventional loans. Wymar Federal Credit Union has a low ratio of conventional loans. Their top markets by origination volume include: Baton Rouge, New Orleans, Lafayette, and Hammond among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Wymar 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. Wymar 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.

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Originations

148

Origination Dollar Volume (All Markets)

$20,190,000

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) 140 $18,940,000 $135,286 $2,527 5.25%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 4 $680,000 $170,000 $0 0.00%
LAFAYETTE, LA (FHA|USDA|VA) 3 $395,000 $131,667 $0 0.00%
HAMMOND, LA (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
Wymar Federal Credit Union's top markets include Baton Rouge, New Orleans, Lafayette, and Hammond among others.

Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 144 $19,830,000 $137,708 $0 0.00%
    HELOC 2 $160,000 $80,000 n/a 5.00%
    Conventional 2 $200,000 $100,000 $2,527 5.50%

    For 2018, Wymar Federal Credit Union's most frequently originated type of loan was Conventional, with 144 originations. Their 2nd most popular type was HELOC, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 104 $14,150,000 $136,058 $878 5.50%
    Home Purchase 36 $4,330,000 $120,278 $4,176 4.50%
    Cash Out Refi 6 $1,460,000 $243,333 $0 0.00%
    NA 2 $250,000 $125,000 $0 0.00%

    For 2018, Wymar Federal Credit Union's most frequently cited loan purpose was Refi, with 104 originations. The 2nd most popular reason was Home Purchase, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 144 $19,830,000 $137,708 $0 0.00%
    20 Year 3 $195,000 $65,000 $878 5.50%
    30 Year 1 $165,000 $165,000 $4,176 4.50%

    For 2018, Wymar Federal Credit Union's most frequently cited loan duration was Other, with 144 originations. The 2nd most popular length was 20 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1 $35,000 $35,000
    $1k-2k 1 $165,000 $165,000

    Wymar Federal Credit Union's average total fees were $4,176, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 2 $270,000 $135,000
    5-6% 1 $55,000 $55,000
    6-7% 1 $35,000 $35,000

    During 2018, Wymar Federal Credit Union's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was 4-5%, with 2 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 68 $3,240,000 $47,647 $878 5.88%
    $100k-200k 47 $6,575,000 $139,894 $4,176 4.63%
    $200k-400k 27 $7,565,000 $280,185 $0 0.00%
    $400k-600k 5 $2,165,000 $433,000 $0 0.00%
    $600k-1MM 1 $645,000 $645,000 $0 0.00%

    2018 saw Wymar Federal Credit Union place emphasis on $100,000 or less loans with 68 originations, totaling $3,240,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 54 $8,540,000 $158,148 $4,176 4.88%
    $150k-250k 46 $6,080,000 $132,174 $878 6.50%
    $50k or less 18 $2,210,000 $122,778 $0 4.75%
    $250k+ 12 $1,480,000 $123,333 $0 0.00%
    $50k-75k 9 $965,000 $107,222 $0 0.00%
    $75k-100k 9 $915,000 $101,667 $0 0.00%

    Wymar Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 54 originations. The second most popular income band? $150k-250k, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 144 $19,830,000 $137,708 $0 0.00%
    20-30% 3 $325,000 $108,333 $4,176 4.83%
    30-36% 1 $35,000 $35,000 $878 6.50%

    Wymar Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 144 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 125 $17,035,000 $136,280 $2,527 5.25%
    Black 17 $2,485,000 $146,176 $0 0.00%
    Not provided 5 $375,000 $75,000 $0 0.00%
    Asian 1 $295,000 $295,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.34%

    Wymar 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 origination
    76.35%

    Wymar Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 144 $19,830,000 $137,708
    NA 4 $360,000 $90,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 15 $1,175,000 $78,333
    Single Family (1-4 Units):Site-Built 133 $19,015,000 $142,970

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $55,000 $55,000 $0 5.25%
    60-80% 2 $270,000 $135,000 $4,176 4.63%
    Under 20% 1 $35,000 $35,000 $878 6.50%