Educational Employees Credit Union Mortgage Rates, Fees & InfoFresno, CA
Tax ID: 94-1031345
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewEducational Employees Credit Union is a smaller credit union specializing in Home Improvement, Refi, and Home Purchase loans. Educational Employees Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Fresno, Visalia, Madera, Hanford, and Merced among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)
Educational Employees 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. Educational Employees Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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.
|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||5.43%||12/4/23|
|30 Year Conventional Refi||5.81%||12/4/23|
|30 Year Cash-out Refi||6.45%||12/4/23|
|15 Year Conventional Purchase||4.58%||12/4/23|
|15 Year Conventional Refi||5.71%||12/4/23|
|15 Year Cash-out Refi||5.71%||12/4/23|
|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.|
Educational Employees Credit Union Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Educational Employees 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.
Origination Dollar Volume (All Markets)$178,735,000
Educational Employees Credit Union - 2022
Educational Employees Credit Union is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
Work for Educational Employees Credit Union?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Educational Employees Credit Union's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.23%.
Relative Fees (Closing Costs)
Educational Employees Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,345.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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|
|FRESNO, CA (FHA|USDA|VA)||905||$117,365,000||$129,685||$1,700||4.13%|
|VISALIA, CA (FHA|USDA|VA)||187||$21,675,000||$115,909||$1,289||4.20%|
|MADERA, CA (FHA|USDA|VA)||82||$11,550,000||$140,854||$1,823||4.16%|
|HANFORD-CORCORAN, CA (FHA|USDA|VA)||46||$5,970,000||$129,783||$1,546||4.12%|
|MERCED, CA (FHA|USDA|VA)||39||$5,875,000||$150,641||$2,004||4.25%|
|SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA)||9||$3,775,000||$419,444||$3,198||4.21%|
|SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA)||10||$2,090,000||$209,000||$2,180||4.03%|
|MODESTO, CA (FHA|USDA|VA)||4||$1,430,000||$357,500||$2,050||3.53%|
|SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA)||2||$1,380,000||$690,000||$2,972||4.31%|
|SALINAS, CA (FHA|USDA|VA)||4||$1,340,000||$335,000||$2,365||3.81%|
|STOCKTON, CA (FHA|USDA|VA)||5||$1,325,000||$265,000||$2,377||4.60%|
|BAKERSFIELD, CA (FHA|USDA|VA)||8||$1,320,000||$165,000||$2,673||4.31%|
|San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA)||5||$925,000||$185,000||$0||4.20%|
|Outside of Metro Areas||6||$780,000||$130,000||$2,506||4.38%|
|SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA)||2||$430,000||$215,000||$2,386||4.75%|
|Sonora, CA (FHA|USDA|VA)||2||$400,000||$200,000||$1,174||3.63%|
|RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA)||3||$365,000||$121,667||$0||4.00%|
|SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA)||2||$260,000||$130,000||$0||4.00%|
|Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA)||3||$165,000||$55,000||$0||4.00%|
|COLUMBUS, OH (FHA|USDA|VA)||1||$165,000||$165,000||$3,119||4.75%|
|SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA)||2||$150,000||$75,000||$0||4.00%|
We use machine learning to identify the top lenders compared against Educational Employees Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 200
Similarity Rank: 228
Similarity Rank: 435
Similarity Rank: 841
Similarity Rank: 1125
Similarity Rank: 1505
Similarity Rank: 1530
Similarity Rank: 1800
Similarity Rank: 2756
Similarity Rank: 2847
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Educational Employees Credit Union's most frequently originated type of loan was HELOC, with 916 originations. Their 2nd most popular type was Conventional, with 411 originations.
For 2022, Educational Employees Credit Union's most frequently cited loan purpose was Home Improvement, with 619 originations. The 2nd most popular reason was Other, with 320 originations.
For 2022, Educational Employees Credit Union's most frequently cited loan duration was Other, with 916 originations. The 2nd most popular length was 30 Year, with 208 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Educational Employees Credit Union's average total fees were $2,345, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 384 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Educational Employees Credit Union's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 3-4%, with 821 originations.
2022 saw Educational Employees Credit Union place emphasis on $100,000 or less loans with 716 originations, totaling $39,800,000 in origination value.
Educational Employees Credit Union lent most frequently to those with incomes in the $150k-250k range, with 422 originations. The second most popular income band? $100k-150k, with 395 originations.
Applicant Debt to Income Ratio
Educational Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 470 originations. The next most common DTI ratio? 30-36%, with 340 originations.
Approval RatesTotal approvals of all applications
Educational Employees Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick RateApprovals leading to origination
Educational Employees Credit Union has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|