Envision Credit Union Mortgage Rates, Fees & Info

Tallahassee, FL

LEI: 2549006RTCWYNJPDX013

Tax ID: 59-0873652

5 stars - out of 5 stars, based on 23 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Envision Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Envision Credit Union has a high proportion of conventional loans. Their top markets include Tallahassee, Thomasville, Bainbridge, Orlando, and Panama City among others. Envision Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Envision Credit Union is typically an average fee lendor.


Originations

523

Origination Dollar Volume (All Markets)

$93,715,000

Awards

Envision Credit Union 30 Year Conventional Loans silver Envision Credit Union 30 Year Conventional Loans bronze Envision Credit Union 30 Year Conventional Loans silver
Show all (3) awards

Relative Rate

Envision Credit Union's average 30 year fixed rate mortgage of loans were 3.01%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.14%.

Relative Fees

Envision Credit Union's average total fees for a 30 year fixed rate mortgage are $4,043.

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
TALLAHASSEE, FL (FHA|USDA|VA) 401 $73,405,000 $183,055 $3,947 2.98%
Outside of Metro Areas 43 $5,695,000 $132,442 $3,706 3.30%
Thomasville, GA (FHA|USDA|VA) 31 $4,945,000 $159,516 $3,627 3.03%
Bainbridge, GA (FHA|USDA|VA) 15 $3,425,000 $228,333 $3,945 3.09%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 6 $1,430,000 $238,333 $3,981 3.08%
PANAMA CITY, FL (FHA|USDA|VA) 5 $945,000 $189,000 $3,730 2.47%
VALDOSTA, GA (FHA|USDA|VA) 4 $760,000 $190,000 $3,688 3.64%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 4 $580,000 $145,000 $3,132 2.63%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $555,000 $185,000 $3,672 3.14%
GAINESVILLE, FL (FHA|USDA|VA) 2 $410,000 $205,000 $3,652 2.80%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $410,000 $205,000 $3,499 3.91%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $405,000 $405,000 $4,876 2.50%
THE VILLAGES, FL (FHA|USDA|VA) 1 $215,000 $215,000 $4,310 3.25%
Americus, GA (FHA|USDA|VA) 1 $205,000 $205,000 $3,743 2.05%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 2 $160,000 $80,000 $3,222 2.95%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $95,000 $95,000 $3,219 2.13%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $75,000 $75,000 $3,091 3.35%

Envision Credit Union's top markets include Tallahassee, Thomasville, Bainbridge, Orlando, and Panama City among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 523 $93,715,000 $179,187 $3,891 3.01%

For the 2021 period, Envision Credit Union's most frequently originated loan type of loans were Conventional, with 523 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 208 $39,500,000 $189,904 $3,898 2.88%
Refi 153 $26,215,000 $171,340 $3,531 2.68%
Home Purchase 136 $26,890,000 $197,721 $4,285 3.30%
Other 16 $680,000 $42,500 $0 4.50%
Home Improvement 10 $430,000 $43,000 $0 4.70%

For the 2021, Envision Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 208 originations. The 2nd most popular reason of loans were Refi, with 153 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 273 $54,705,000 $200,385 $4,043 3.01%
15 Year 131 $21,035,000 $160,573 $3,597 2.47%
20 Year 67 $13,715,000 $204,701 $4,140 3.69%
10 Year 43 $3,555,000 $82,674 $3,342 3.40%
Other 5 $585,000 $117,000 $2,583 3.61%
5 Year 4 $120,000 $30,000 $655 4.36%

For the 2021, Envision Credit Union's most frequently cited loan length of loans were 30 Year, with 273 originations. The 2nd most popular length of loans were 15 Year, with 131 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 488 $91,040,000 $186,557
$<1k 3 $255,000 $85,000
$2k-3k 2 $240,000 $120,000
$3k-4k 2 $410,000 $205,000
$5k+ 2 $660,000 $330,000

$4,043 of loans were Envision Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 488 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 176 $33,920,000 $192,727
<2.5% 158 $26,420,000 $167,215
3-4% 132 $24,840,000 $188,182
4-5% 51 $8,255,000 $161,863
5-6% 5 $255,000 $51,000
6-7% 1 $25,000 $25,000

During 2021, Envision Credit Union's average interest rate of loans were 3.01%, while their most frequently originated rate bucket of loans were 2.5-3%, with 176 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 264 $39,380,000 $149,167 $3,660 2.92%
$200k-400k 137 $37,255,000 $271,934 $4,460 2.99%
$100,000 or less 103 $7,045,000 $68,398 $3,257 3.30%
$400k-600k 16 $7,380,000 $461,250 $5,311 2.76%
$600k-1MM 2 $1,250,000 $625,000 $6,546 3.58%
$1MM+ 1 $1,405,000 $1,405,000 $8,601 4.75%

2021 saw Envision Credit Union place emphasis on $100k-200k loans with 264 originations, totaling $39,380,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 156 $25,450,000 $163,141 $3,959 3.08%
$100k-150k 124 $24,470,000 $197,339 $4,028 2.92%
$50k or less 92 $10,410,000 $113,152 $3,586 3.14%
$75k-100k 86 $15,850,000 $184,302 $3,714 2.99%
$150k-250k 49 $11,925,000 $243,367 $4,005 2.86%
$250k+ 16 $5,610,000 $350,625 $4,513 2.92%

Envision Credit Union lent most frequently to those with incomes in the $50k-75k range, with 156 originations. The second most popular income band? $100k-150k, with 124 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 136 $24,700,000 $181,618 $3,795 2.83%
30-36% 119 $21,465,000 $180,378 $4,134 3.11%
<20% 60 $10,110,000 $168,500 $3,603 2.61%
40% 29 $5,885,000 $202,931 $4,118 3.29%
38% 23 $3,525,000 $153,261 $4,339 3.24%
41% 18 $2,580,000 $143,333 $3,720 3.31%
36% 18 $3,220,000 $178,889 $3,821 3.18%
43% 18 $3,830,000 $212,778 $4,002 3.11%
39% 16 $3,290,000 $205,625 $4,099 3.17%
42% 15 $2,325,000 $155,000 $4,019 3.31%
37% 12 $1,970,000 $164,167 $3,692 2.94%
44% 12 $2,650,000 $220,833 $3,774 2.98%
>60% 9 $1,475,000 $163,889 $3,539 3.99%
46% 8 $1,290,000 $161,250 $3,539 3.01%
49% 8 $1,200,000 $150,000 $3,686 2.91%
50-60% 8 $1,900,000 $237,500 $3,973 3.46%
45% 7 $1,105,000 $157,857 $3,528 2.65%
47% 4 $710,000 $177,500 $3,578 3.09%
48% 3 $485,000 $161,667 $3,585 2.60%

Envision Credit Union lent most frequently to those with DTI ratios of 20-30%, with 136 originations. The next most common DTI ratio? 30-36%, with 119 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 393 $72,315,000 $184,008 $3,887 2.91%
Black 117 $20,005,000 $170,983 $3,914 3.33%
Asian 4 $650,000 $162,500 $3,952 2.50%
American Indian 4 $440,000 $110,000 $3,567 2.58%
Native Hawaiian 1 $155,000 $155,000 $3,727 2.20%
Not provided 4 $150,000 $37,500 $0 4.68%

Approval Rates

Total approvals of all applications
85.09%

Envision Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
68.39%

Envision 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
NA 523 $93,715,000 $179,187

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
523 $93,715,000 $179,187

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 36 $3,500,000 $97,222 $3,650 3.25%
40-60% 120 $19,630,000 $163,583 $3,575 2.62%
60-80% 207 $39,855,000 $192,536 $3,841 2.92%
80-100% 149 $30,335,000 $203,591 $4,263 3.35%
Under 20% 11 $395,000 $35,909 $2,949 3.71%