Pelican State Credit Union Mortgage Interest Rate and Cost Review

Is Pelican State Credit Union a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Pelican State Credit Union to those of other lenders for a comparable set of borrowers. Here is our review of Pelican State Credit Union nationally:

On average, Pelican State Credit Union’s interest rates were higher than those of other lenders (+0.25%). On the other hand, its loan related closing costs were similar to those of other lenders, with a difference of -$176. Overall, combining interest rates and closing costs we estimate that Pelican State Credit Union tends to be an expensive lender, and give it a National Rate and Closing Costs Rating of 2.5 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Pelican State Credit Union, check out its website at: https://www.pelicanstatecu.com.

Pelican State Credit Union’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Pelican State Credit Union was most active in:

1. Baton Rouge, LA
2. Lafayette, LA
3. Lake Charles, LA
4. Alexandria, LA
5. Shreveport, LA

Pelican State Credit Union’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Pelican State Credit Union originated Conforming mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

As a summary, Pelican State Credit Union is more expensive than other lenders for Conforming purchase mortgages. For refinancing, Pelican State Credit Union is more expensive than other lenders for Conforming mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Pelican State Credit Union:

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Pelican State Credit Union’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.