Aneca Federal Credit Union Mortgage Rates, Fees & Info
Shreveport, LALEI: 89450088V2BYQUO61B62
Tax ID: 72-0427045
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Mortgage Data
Review & Overview
Aneca Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Aneca Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Shreveport, Seattle, and Minden among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Aneca 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. Aneca Federal Credit Union is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 11.42% | 12/16/24 |
| 30 Year Conventional Refi | 11.80% | 12/16/24 |
| 15 Year Conventional Purchase | 5.68% | 12/16/24 |
| 15 Year Conventional Refi | 10.03% | 12/16/24 |
| 15 Year Cash-out Refi | 10.03% | 12/16/24 |
| 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. | ||
Aneca 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
32Origination Dollar Volume (All Markets)
$5,150,000Top 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 |
|---|---|---|---|---|---|
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 29 | $4,435,000 | $152,931 | $3,460 | 5.82% |
| Outside of Metro Areas | 1 | $375,000 | $375,000 | $8,018 | 5.25% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 4.88% |
| Minden, LA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,447 | 6.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against ANECA Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 23 | $4,315,000 | $187,609 | $3,657 | 5.68% |
| HELOC | 9 | $835,000 | $92,778 | n/a | 6.08% |
For 2018, Aneca Federal Credit Union's most frequently originated type of loan was Conventional, with 23 originations. Their 2nd most popular type was HELOC, with 9 originations.
Loan Reason
For 2018, Aneca Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 20 originations. The 2nd most popular reason was Home Purchase, with 8 originations.
Loan Duration/Length
For 2018, Aneca Federal Credit Union's most frequently cited loan duration was 15 Year, with 10 originations. The 2nd most popular length was 30 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 10 | $540,000 | $54,000 |
| $1k-2k | 4 | $480,000 | $120,000 |
| $2k-3k | 1 | $185,000 | $185,000 |
| $4k-5k | 1 | $435,000 | $435,000 |
| $5k+ | 1 | $785,000 | $785,000 |
Aneca Federal Credit Union's average total fees were $6,250, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 20 | $3,170,000 | $158,500 |
| 4-5% | 4 | $640,000 | $160,000 |
| 6-7% | 4 | $250,000 | $62,500 |
| 7-8% | 3 | $135,000 | $45,000 |
During 2018, Aneca Federal Credit Union's average interest rate for loans was 5.03%, while their most frequently originated rate bucket for loans was 5-6%, with 20 originations.
Loan Sizing
2018 saw Aneca Federal Credit Union place emphasis on $100,000 or less loans with 18 originations, totaling $830,000 in origination value.
Applicant Income
Aneca Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 11 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
Aneca Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 7 originations. The next most common DTI ratio? 20-30%, with 7 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 28 | $4,840,000 | $172,857 | $3,732 | 5.84% |
| Black | 4 | $310,000 | $77,500 | $2,379 | 5.53% |
Approval Rates
Total approvals of all applications90.00%
Aneca Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination78.13%
Aneca Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 32 | $5,150,000 | $160,938 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 32 | $5,150,000 | $160,938 |