First Basin Credit Union Mortgage Rates, Fees & Info

Odessa, TX

LEI: 25490031FYE1X5QNTK83

Tax ID: 75-1084210

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    First Basin Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. First Basin Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Odessa, Midland, Andrews, Granbury, and Lubbock among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Basin Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.73% 4/28/24
    30 Year Conventional Refi 6.27% 4/28/24
    30 Year Cash-out Refi 6.27% 4/28/24
    15 Year Conventional Purchase 5.78% 4/28/24
    15 Year Conventional Refi 5.68% 4/28/24
    15 Year Cash-out Refi 5.68% 4/28/24
    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.

    First Basin Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from First Basin Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    34

    Origination Dollar Volume (All Markets)

    $5,600,000

    Top 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
    ODESSA, TX (FHA|USDA|VA) 17 $2,845,000 $167,353 $0 0.00%
    MIDLAND, TX (FHA|USDA|VA) 10 $1,720,000 $172,000 $0 0.00%
    Andrews, TX (FHA|USDA|VA) 3 $535,000 $178,333 $0 0.00%
    Granbury, TX (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    LUBBOCK, TX (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Outside of Metro Areas 1 $105,000 $105,000 $0 0.00%
    Snyder, TX (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    First Basin Credit Union's top markets include Odessa, Midland, Andrews, Granbury, and Lubbock among others.

    Their top states include:
  • Texas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 34 $5,600,000 $164,706 $0 0.00%

    For 2018, First Basin Credit Union's most frequently originated type of loan was Conventional, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 17 $3,255,000 $191,471 $0 0.00%
    Cash Out Refi 10 $1,370,000 $137,000 $0 0.00%
    Refi 7 $975,000 $139,286 $0 0.00%

    For 2018, First Basin Credit Union's most frequently cited loan purpose was Home Purchase, with 17 originations. The 2nd most popular reason was Cash Out Refi, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 34 $5,600,000 $164,706 $0 0.00%

    For 2018, First Basin Credit Union's most frequently cited loan duration was Other, with 34 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 13 $1,915,000 $147,308 $0 0.00%
    $100,000 or less 12 $760,000 $63,333 $0 0.00%
    $200k-400k 6 $1,390,000 $231,667 $0 0.00%
    $400k-600k 2 $860,000 $430,000 $0 0.00%
    $600k-1MM 1 $675,000 $675,000 $0 0.00%

    2018 saw First Basin Credit Union place emphasis on $100k-200k loans with 13 originations, totaling $1,915,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 10 $1,730,000 $173,000 $0 0.00%
    $75k-100k 8 $1,060,000 $132,500 $0 0.00%
    $150k-250k 6 $710,000 $118,333 $0 0.00%
    $50k-75k 6 $890,000 $148,333 $0 0.00%
    $250k+ 2 $1,080,000 $540,000 $0 0.00%
    $50k or less 2 $130,000 $65,000 $0 0.00%

    First Basin Credit Union lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $75k-100k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 34 $5,600,000 $164,706 $0 0.00%

    First Basin Credit Union lent most frequently to those with DTI ratios of Exempt%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 22 $3,760,000 $170,909 $0 0.00%
    American Indian 11 $1,735,000 $157,727 $0 0.00%
    Black 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    59.63%

    First Basin Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    11.76%

    First Basin Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 34 $5,600,000 $164,706

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $220,000 $110,000
    Single Family (1-4 Units):Site-Built 32 $5,380,000 $168,125

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    First Technology Federal Credit Union Other type of mortgage Trouble during payment process 1 50.0%
    First Technology Federal Credit Union Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%