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 Home Purchase, Cash Out Refi, and Refi loans. Aneca Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Shreveport, San Antonio, Austin, 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 an above 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% | 5/4/24 |
| 30 Year Conventional Refi | 11.80% | 5/4/24 |
| 15 Year Conventional Purchase | 5.68% | 5/4/24 |
| 15 Year Conventional Refi | 10.03% | 5/4/24 |
| 15 Year Cash-out Refi | 10.03% | 5/4/24 |
| 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
24Origination Dollar Volume (All Markets)
$5,180,000Top 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) | 21 | $4,775,000 | $227,381 | $4,863 | 4.17% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,516 | 2.88% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,697 | 3.50% |
| Minden, LA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $2,531 | 4.25% |
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 | 24 | $5,180,000 | $215,833 | $4,652 | 4.09% |
For 2020, Aneca Federal Credit Union's most frequently originated type of loan was Conventional, with 24 originations.
Loan Reason
For 2020, Aneca Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 13 originations. The 2nd most popular reason was Cash Out Refi, with 8 originations.
Loan Duration/Length
For 2020, Aneca Federal Credit Union's most frequently cited loan duration was 30 Year, with 11 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 8 | $910,000 | $113,750 |
| $<1k | 7 | $905,000 | $129,286 |
| $2k-3k | 6 | $1,260,000 | $210,000 |
| $5k+ | 3 | $2,105,000 | $701,667 |
Aneca Federal Credit Union's average total fees were $6,100, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 8 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 12 | $3,280,000 | $273,333 |
| 3-4% | 7 | $1,115,000 | $159,286 |
| 5-6% | 3 | $305,000 | $101,667 |
| <2.5% | 1 | $205,000 | $205,000 |
| 2.5-3% | 1 | $275,000 | $275,000 |
During 2020, Aneca Federal Credit Union's average interest rate for loans was 4.09%, while their most frequently originated rate bucket for loans was 4-5%, with 12 originations.
Loan Sizing
2020 saw Aneca Federal Credit Union place emphasis on $100k-200k loans with 8 originations, totaling $1,080,000 in origination value.
Applicant Income
Aneca Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $50k or less, with 6 originations.
Applicant Debt to Income Ratio
Aneca Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? <20%, with 6 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 22 | $4,840,000 | $220,000 | $4,703 | 4.10% |
| Asian | 2 | $340,000 | $170,000 | $3,532 | 4.06% |
Approval Rates
Total approvals of all applications100.00%
Aneca 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 origination95.83%
Aneca Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 24 | $5,180,000 | $215,833 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $250,000 | $125,000 |
| Single Family (1-4 Units):Site-Built | 22 | $4,930,000 | $224,091 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Amos Financial LLC | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 2 | 50.0% |
| Amos Financial LLC | Other type of mortgage | Closing on a mortgage | 1 | 25.0% |
| Amos Financial LLC | Other type of mortgage | Struggling to pay mortgage | 1 | 25.0% |