Educational Employees Credit Union Mortgage Rates, Fees & Info
Fresno, CALEI: 2549004OC91L41W9XR37
Tax ID: 94-1031345
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Educational Employees Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. Educational Employees Credit Union has a high proportion of conventional loans. Their top markets include Fresno, Visalia, Madera, Hanford, and Merced among others. Educational Employees Credit Union has a below average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Educational Employees Credit Union is typically a low fee lendor.Originations
1,275Origination Dollar Volume (All Markets)
$162,155,000Awards
Educational Employees Credit Union - 2021
Educational Employees Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Educational Employees Credit Union's average 30 year fixed rate mortgage of loans were
3.32%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.17%.
Relative Fees
Educational Employees Credit Union's average total fees for a 30 year fixed rate
mortgage are $1,874.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| FRESNO, CA (FHA|USDA|VA) | 901 | $117,955,000 | $130,916 | $1,655 | 3.62% |
| VISALIA, CA (FHA|USDA|VA) | 174 | $18,950,000 | $108,908 | $1,508 | 3.67% |
| MADERA, CA (FHA|USDA|VA) | 61 | $8,055,000 | $132,049 | $1,639 | 3.56% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 47 | $4,825,000 | $102,660 | $1,514 | 3.68% |
| MERCED, CA (FHA|USDA|VA) | 36 | $4,400,000 | $122,222 | $1,841 | 3.64% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 8 | $2,030,000 | $253,750 | $2,031 | 3.52% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 8 | $1,490,000 | $186,250 | $1,855 | 3.56% |
| MODESTO, CA (FHA|USDA|VA) | 9 | $1,125,000 | $125,000 | $1,228 | 3.70% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $0 | 4.00% |
| Outside of Metro Areas | 3 | $495,000 | $165,000 | $2,549 | 3.75% |
| SALINAS, CA (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $0 | 4.00% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 4 | $250,000 | $62,500 | $0 | 4.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 3 | $245,000 | $81,667 | $3,460 | 3.33% |
| RENO, NV (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,115 | 2.38% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 4.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 3 | $185,000 | $61,667 | $0 | 4.00% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,364 | 2.38% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 4.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 4.00% |
| YUBA CITY, CA (FHA|USDA|VA) | 3 | $115,000 | $38,333 | $0 | 4.00% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 4.00% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.00% |
Educational Employees Credit Union's top markets include Fresno, Visalia, Madera, Hanford, and Merced among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,275 | $162,155,000 | $127,180 | $1,657 | 3.63% |
For the 2021 period, Educational Employees Credit Union's most frequently originated loan type of loans were Conventional, with 1,275 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Improvement | 582 | $45,440,000 | $78,076 | $959 | 3.98% |
| Refi | 463 | $91,805,000 | $198,283 | $1,589 | 3.08% |
| Other | 186 | $14,440,000 | $77,634 | $116 | 4.00% |
| Home Purchase | 33 | $8,695,000 | $263,485 | $3,173 | 3.18% |
| Cash Out Refi | 11 | $1,775,000 | $161,364 | $1,703 | 3.32% |
For the 2021, Educational Employees Credit Union's most frequently cited loan purpose of loans were Home Improvement, with 582 originations. The 2nd most popular reason of loans were Refi, with 463 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 752 | $57,240,000 | $76,117 | $0 | 4.00% |
| 30 Year | 234 | $56,220,000 | $240,256 | $1,874 | 3.32% |
| 15 Year | 149 | $23,355,000 | $156,745 | $1,341 | 3.02% |
| 10 Year | 77 | $11,455,000 | $148,766 | $1,657 | 2.63% |
| 20 Year | 63 | $13,885,000 | $220,397 | $1,656 | 3.11% |
For the 2021, Educational Employees Credit Union's most frequently cited loan length of loans were Other, with 752 originations. The 2nd most popular length of loans were 30 Year, with 234 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 496 | $100,890,000 | $203,407 |
| $1k-2k | 5 | $835,000 | $167,000 |
| $2k-3k | 3 | $975,000 | $325,000 |
$1,874 of loans were Educational Employees Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 496 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1,030 | $115,800,000 | $112,427 |
| 2.5-3% | 174 | $34,500,000 | $198,276 |
| <2.5% | 65 | $11,455,000 | $176,231 |
| 4-5% | 4 | $160,000 | $40,000 |
During 2021, Educational Employees Credit Union's average interest rate of loans were 3.32%, while their most frequently originated rate bucket of loans were 3-4%, with 1,030 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 635 | $33,145,000 | $52,197 | $1,152 | 3.88% |
| $100k-200k | 352 | $48,260,000 | $137,102 | $1,641 | 3.53% |
| $200k-400k | 265 | $69,145,000 | $260,925 | $1,843 | 3.21% |
| $400k-600k | 19 | $8,905,000 | $468,684 | $1,902 | 3.15% |
| $600k-1MM | 4 | $2,700,000 | $675,000 | $2,580 | 3.28% |
2021 saw Educational Employees Credit Union place emphasis on $100,000 or less loans with 635 originations, totaling $33,145,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 378 | $48,120,000 | $127,302 | $1,691 | 3.67% |
| $150k-250k | 324 | $44,470,000 | $137,253 | $1,675 | 3.74% |
| $75k-100k | 202 | $24,950,000 | $123,515 | $1,626 | 3.55% |
| $50k-75k | 186 | $19,530,000 | $105,000 | $1,641 | 3.49% |
| $250k+ | 98 | $16,190,000 | $165,204 | $1,630 | 3.78% |
| $50k or less | 79 | $7,225,000 | $91,456 | $1,630 | 3.44% |
Educational Employees Credit Union lent most frequently to those with incomes in the $100k-150k range, with 378 originations. The second most popular income band? $150k-250k, with 324 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 460 | $59,590,000 | $129,543 | $1,626 | 3.59% |
| <20% | 266 | $35,210,000 | $132,368 | $1,681 | 3.60% |
| 30-36% | 255 | $31,825,000 | $124,804 | $1,599 | 3.66% |
| 36% | 38 | $5,430,000 | $142,895 | $1,702 | 3.59% |
| 38% | 38 | $5,300,000 | $139,474 | $1,613 | 3.65% |
| 39% | 33 | $4,425,000 | $134,091 | $1,513 | 3.66% |
| 41% | 33 | $4,565,000 | $138,333 | $1,647 | 3.55% |
| 42% | 31 | $4,155,000 | $134,032 | $1,985 | 3.61% |
| 40% | 26 | $3,430,000 | $131,923 | $1,686 | 3.65% |
| 37% | 25 | $3,055,000 | $122,200 | $1,622 | 3.68% |
| 43% | 17 | $1,195,000 | $70,294 | $0 | 4.00% |
| 44% | 13 | $895,000 | $68,846 | $0 | 4.00% |
| 47% | 10 | $640,000 | $64,000 | $6,896 | 3.94% |
| 45% | 10 | $660,000 | $66,000 | $0 | 4.00% |
| 46% | 5 | $315,000 | $63,000 | $0 | 4.00% |
| 50-60% | 5 | $455,000 | $91,000 | $0 | 4.00% |
| >60% | 4 | $250,000 | $62,500 | $0 | 4.00% |
| 48% | 4 | $700,000 | $175,000 | $3,039 | 3.78% |
| 49% | 2 | $60,000 | $30,000 | $0 | 4.00% |
Educational Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 460 originations. The next most common DTI ratio? <20%, with 266 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 727 | $89,605,000 | $123,253 | $1,654 | 3.63% |
| Not provided | 453 | $59,675,000 | $131,733 | $1,671 | 3.64% |
| Asian | 37 | $5,705,000 | $154,189 | $1,587 | 3.50% |
| American Indian | 19 | $3,025,000 | $159,211 | $1,640 | 3.38% |
| Black | 15 | $1,925,000 | $128,333 | $1,658 | 3.50% |
| Other Asian | 4 | $630,000 | $157,500 | $1,661 | 3.84% |
| Filipino | 6 | $420,000 | $70,000 | $0 | 4.00% |
| Native Hawaiian | 2 | $370,000 | $185,000 | $1,636 | 3.69% |
| 4 | $280,000 | $70,000 | $0 | 4.00% | |
| Japanese | 1 | $105,000 | $105,000 | $0 | 4.00% |
| Chinese | 2 | $100,000 | $50,000 | $0 | 4.00% |
| Asian Indian | 1 | $75,000 | $75,000 | $0 | 4.00% |
| Korean | 1 | $65,000 | $65,000 | $0 | 4.00% |
| Vietnamese | 1 | $65,000 | $65,000 | $0 | 4.00% |
| Not applicable | 1 | $55,000 | $55,000 | $0 | 4.00% |
| Native Hawiian | 1 | $55,000 | $55,000 | $0 | 4.00% |
Approval Rates
Total approvals of all applications60.39%
Educational Employees Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination83.91%
Educational Employees Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 91 | $6,955,000 | $76,429 |
| NA | 1,184 | $155,200,000 | $131,081 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,275 | $162,155,000 | $127,180 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 289 | $36,095,000 | $124,896 | $1,585 | 3.55% |
| 40-60% | 183 | $38,625,000 | $211,066 | $1,733 | 3.16% |
| 60-80% | 179 | $47,595,000 | $265,894 | $1,758 | 3.22% |
| 80-100% | 18 | $5,440,000 | $302,222 | $3,104 | 3.11% |
| Under 20% | 606 | $34,400,000 | $56,766 | $715 | 3.95% |
