First Basin Credit Union Mortgage Rates, Fees & Info
Odessa, TXLEI: 25490031FYE1X5QNTK83
Tax ID: 75-1084210
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
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.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.73% | 11/23/24 |
| 30 Year Conventional Refi | 6.27% | 11/23/24 |
| 30 Year Cash-out Refi | 6.27% | 11/23/24 |
| 15 Year Conventional Purchase | 5.78% | 11/23/24 |
| 15 Year Conventional Refi | 5.68% | 11/23/24 |
| 15 Year Cash-out Refi | 5.68% | 11/23/24 |
| 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
34Origination Dollar Volume (All Markets)
$5,600,000Top 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 |
|---|---|---|---|---|---|
| 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% |
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
2018 saw First Basin Credit Union place emphasis on $100k-200k loans with 13 originations, totaling $1,915,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications59.63%
First Basin Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination11.76%
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% |