First Basin Credit Union Mortgage Rates, Fees & Info
Odessa, TXLEI: 25490031FYE1X5QNTK83
Tax ID: 75-1084210
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Mortgage Data
Review & Overview
First Basin Credit Union is a smaller credit union specializing in Home Purchase loans. First Basin Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Midland, Odessa, and Rockport among others. We have data for 3 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.73% | 11/17/24 |
| 30 Year Conventional Refi | 6.27% | 11/17/24 |
| 30 Year Cash-out Refi | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 5.78% | 11/17/24 |
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
7Origination Dollar Volume (All Markets)
$1,375,000Top 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 |
|---|---|---|---|---|---|
| MIDLAND, TX (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $0 | 0.00% |
| ODESSA, TX (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $0 | 0.00% |
| Rockport, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 7 | $1,375,000 | $196,429 | $0 | 0.00% |
For 2019, First Basin Credit Union's most frequently originated type of loan was Conventional, with 7 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 5 | $1,135,000 | $227,000 | $0 | 0.00% |
| Cash Out Refi | 2 | $240,000 | $120,000 | $0 | 0.00% |
For 2019, First Basin Credit Union's most frequently cited loan purpose was Home Purchase, with 5 originations. The 2nd most popular reason was Cash Out Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 7 | $1,375,000 | $196,429 | $0 | 0.00% |
For 2019, First Basin Credit Union's most frequently cited loan duration was Other, with 7 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 4 | $1,030,000 | $257,500 | $0 | 0.00% |
| $100k-200k | 2 | $260,000 | $130,000 | $0 | 0.00% |
| $100,000 or less | 1 | $85,000 | $85,000 | $0 | 0.00% |
2019 saw First Basin Credit Union place emphasis on $200k-400k loans with 4 originations, totaling $1,030,000 in origination value.
Applicant Income
First Basin Credit Union lent most frequently to those with incomes in the $150k-250k range, with 2 originations. The second most popular income band? $75k-100k, with 2 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 7 | $1,375,000 | $196,429 | $0 | 0.00% |
First Basin Credit Union lent most frequently to those with DTI ratios of Exempt%, with 7 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 7 | $1,375,000 | $196,429 | $0 | 0.00% |
Approval Rates
Total approvals of all applications44.00%
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-357.14%
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 | 7 | $1,375,000 | $196,429 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 7 | $1,375,000 | $196,429 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| First Technology Federal Credit Union | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
| First Technology Federal Credit Union | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
| First Technology Federal Credit Union | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 14.3% |
| First Technology Federal Credit Union | Conventional home mortgage | Trouble during payment process | 4 | 57.1% |