Is Justice Federal Credit Union An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Justice Federal Credit Union with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (+0.04%)
Loan Related Closing Costs: lower than average (-$721)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, Justice Federal Credit Union originated 301 mortgages, a national market share of 0.0%. It was most active in WV (0.1% market share), DC (0.1% market share), and VA (0.0% market share).

On average, Justice Federal Credit Union’s interest rates were similar to those of comparable mortgages at other lenders (+0.04%).¹The comparable mortgages control for Justice Federal 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 county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $2966, which was lower than those of comparable mortgages at $3687, with a difference of -$721. Overall, we estimate that Justice Federal Credit Union tends to be an average cost lender, with a cost-adjusted-rate difference of -0.05% compared to comparable mortgages at other lenders.²Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Justice Federal Credit Union.

Justice Federal Credit Union originated Conforming mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Based on the table above, Justice Federal Credit Union is similar to other lenders for Conforming purchase mortgages.

Based on the table above, Justice Federal Credit Union is cheap for Conforming mortgage refinance.

Other information about Justice Federal Credit Union:

Regulator: National Credit Union Administration (NCUA) 
Registered city and state: Chantilly, VA, 20151