Wymar Federal Credit Union Mortgage Rates, Fees & Info
Geismar, LALEI: 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
148Origination Dollar Volume (All Markets)
$20,190,000Top 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) | 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% |
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
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
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
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
Approval Rates
Total approvals of all applications95.34%
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 origination76.35%
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 |