Educational Employees Credit Union Mortgage Rates, Fees & Info

Fresno, CA

LEI: 2549004OC91L41W9XR37

Tax ID: 94-1031345

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Educational Employees Credit Union is a smaller credit union specializing in 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 14 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.43% 12/16/24
    30 Year Conventional Refi 5.81% 12/16/24
    30 Year Cash-out Refi 6.45% 12/16/24
    15 Year Conventional Purchase 4.58% 12/16/24
    15 Year Conventional Refi 5.71% 12/16/24
    15 Year Cash-out Refi 5.71% 12/16/24
    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.

    Educational Employees Credit Union Mortgage Calculator






    Your Estimates

    Estimated 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.


    Originations

    362

    Origination Dollar Volume (All Markets)

    $64,760,000
    Show all (5) awards

    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
    FRESNO, CA (FHA|USDA|VA) 252 $44,870,000 $178,056 $1,631 4.67%
    VISALIA, CA (FHA|USDA|VA) 46 $7,400,000 $160,870 $1,731 4.51%
    MADERA, CA (FHA|USDA|VA) 25 $4,425,000 $177,000 $1,620 4.52%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 20 $3,650,000 $182,500 $1,558 4.50%
    MERCED, CA (FHA|USDA|VA) 6 $920,000 $153,333 $1,766 4.60%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $640,000 $320,000 $1,451 4.50%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 3 $575,000 $191,667 $976 5.29%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $575,000 $575,000 $0 5.13%
    Outside of Metro Areas 2 $550,000 $275,000 $3,035 4.81%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $515,000 $515,000 $1,580 4.50%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $325,000 $325,000 $1,816 4.75%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $125,000 $125,000 $166 5.13%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $115,000 $115,000 $3,251 3.38%
    Susanville, CA (FHA|USDA|VA) 1 $75,000 $75,000 $1,770 3.63%
    Educational Employees Credit Union's top markets include Fresno, Visalia, Madera, Hanford, and Merced among others.

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

    • Similar Lenders

    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.

    COASTHILLS
    Similarity Rank: 48
    FAMILIES AND SCHOOLS TOGETHER FEDERAL CREDIT UNION
    Similarity Rank: 52
    SESLOC
    Similarity Rank: 70
    Educational Employees Credit Union
    Similarity Rank: 308
    KD CAPITAL MORTGAGE CORPORATION
    Similarity Rank: 351
    PACIFIC SERVICE
    Similarity Rank: 374
    Shea Mortgage Inc.
    Similarity Rank: 504
    Rabobank, N.A.
    Similarity Rank: 832
    DIGNIFIED HOME LOANS, LLC
    Similarity Rank: 1008
    The Mortgage House, Inc.
    Similarity Rank: 1008

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 362 $64,760,000 $178,895 $1,645 4.63%

    For 2018, Educational Employees Credit Union's most frequently originated type of loan was Conventional, with 362 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 224 $40,810,000 $182,188 $1,570 4.54%
    Home Purchase 82 $18,700,000 $228,049 $2,317 4.69%
    Home Improvement 46 $4,510,000 $98,043 $1,062 4.89%
    Other 10 $740,000 $74,000 $864 4.78%

    For 2018, Educational Employees Credit Union's most frequently cited loan purpose was Refi, with 224 originations. The 2nd most popular reason was Home Purchase, with 82 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 185 $40,895,000 $221,054 $1,952 4.81%
    15 Year 106 $14,040,000 $132,453 $1,221 4.57%
    20 Year 39 $6,195,000 $158,846 $1,612 4.48%
    10 Year 32 $3,630,000 $113,438 $1,646 3.93%

    For 2018, Educational Employees Credit Union's most frequently cited loan duration was 30 Year, with 185 originations. The 2nd most popular length was 15 Year, with 106 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 326 $60,070,000 $184,264
    $2k-3k 1 $345,000 $345,000

    Educational Employees Credit Union's average total fees were $1,952, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 326 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 257 $52,545,000 $204,455
    5-6% 56 $5,780,000 $103,214
    3-4% 42 $6,140,000 $146,190
    6-7% 7 $295,000 $42,143

    During 2018, Educational Employees Credit Union's average interest rate for loans was 4.81%, while their most frequently originated rate bucket for loans was 4-5%, with 257 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 139 $20,515,000 $147,590 $1,609 4.54%
    $200k-400k 100 $26,270,000 $262,700 $1,986 4.57%
    $100,000 or less 99 $6,225,000 $62,879 $1,126 4.81%
    $400k-600k 21 $9,875,000 $470,238 $2,249 4.56%
    $600k-1MM 3 $1,875,000 $625,000 $2,122 4.67%

    2018 saw Educational Employees Credit Union place emphasis on $100k-200k loans with 139 originations, totaling $20,515,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 101 $19,475,000 $192,822 $1,710 4.59%
    $50k-75k 69 $9,295,000 $134,710 $1,650 4.65%
    $75k-100k 62 $9,490,000 $153,065 $1,589 4.60%
    $150k-250k 54 $13,370,000 $247,593 $1,491 4.74%
    $50k or less 48 $5,100,000 $106,250 $1,689 4.49%
    $250k+ 16 $4,780,000 $298,750 $1,671 4.74%

    Educational Employees Credit Union lent most frequently to those with incomes in the $100k-150k range, with 101 originations. The second most popular income band? $50k-75k, with 69 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 120 $20,460,000 $170,500 $1,540 4.69%
    30-36% 94 $17,530,000 $186,489 $1,564 4.57%
    <20% 47 $6,855,000 $145,851 $1,687 4.56%
    36% 16 $2,760,000 $172,500 $1,790 4.64%
    37% 15 $2,835,000 $189,000 $1,728 4.55%
    39% 13 $2,885,000 $221,923 $1,856 4.48%
    40% 13 $2,805,000 $215,769 $2,100 4.51%
    42% 12 $2,030,000 $169,167 $1,636 4.73%
    41% 11 $1,865,000 $169,545 $1,505 4.59%
    38% 11 $2,075,000 $188,636 $2,199 4.59%
    48% 3 $645,000 $215,000 $2,502 5.25%
    44% 2 $530,000 $265,000 $1,952 4.88%
    46% 2 $710,000 $355,000 $1,745 4.69%
    45% 1 $325,000 $325,000 $1,841 4.50%
    50-60% 1 $325,000 $325,000 $1,660 5.00%
    >60% 1 $125,000 $125,000 $0 5.50%

    Educational Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 120 originations. The next most common DTI ratio? 30-36%, with 94 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 207 $34,865,000 $168,430 $1,581 4.65%
    Not provided 127 $23,885,000 $188,071 $1,744 4.60%
    Asian 17 $4,025,000 $236,765 $1,835 4.43%
    American Indian 6 $880,000 $146,667 $1,260 4.85%
    Black 4 $750,000 $187,500 $1,636 4.69%
    Other Asian 1 $355,000 $355,000 $1,685 4.50%

    Approval Rates

    Total approvals of all applications
    62.14%

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

    Pick Rate

    Approvals leading to origination
    81.22%

    Educational Employees Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 362 $64,760,000 $178,895

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 362 $64,760,000 $178,895

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 65 $5,985,000 $92,077 $1,359 4.60%
    40-60% 67 $10,495,000 $156,642 $1,687 4.43%
    60-80% 165 $38,385,000 $232,636 $1,828 4.60%
    80-100% 30 $8,070,000 $269,000 $2,257 4.64%
    Under 20% 35 $1,825,000 $52,143 $634 5.18%