Envision Credit Union Mortgage Rates, Fees & Info
Tallahassee, FLLEI: 2549006RTCWYNJPDX013
Tax ID: 59-0873652
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Mortgage Data
Review & Overview
Envision Credit Union is a smaller credit union specializing in Home Improvement and Other loans. Envision Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Tallahassee, Thomasville, and Bainbridge among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Envision 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/18/24 |
| 30 Year Conventional Purchase | 7.12% | 4/18/24 |
| 30 Year Conventional Refi | 6.85% | 4/18/24 |
| 30 Year Cash-out Refi | 7.15% | 4/18/24 |
| 15 Year Conventional Purchase | 6.18% | 4/18/24 |
| 15 Year Conventional Refi | 6.42% | 4/18/24 |
| 15 Year Cash-out Refi | 6.42% | 4/18/24 |
| 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. | ||
Envision Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
54Origination Dollar Volume (All Markets)
$2,710,000Top 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 |
|---|---|---|---|---|---|
| TALLAHASSEE, FL (FHA|USDA|VA) | 39 | $1,995,000 | $51,154 | $0 | 6.07% |
| Outside of Metro Areas | 10 | $530,000 | $53,000 | $0 | 4.84% |
| Thomasville, GA (FHA|USDA|VA) | 4 | $130,000 | $32,500 | $0 | 6.55% |
| Bainbridge, GA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.24% |
Similar Lenders
We use machine learning to identify the top lenders compared against Envision Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 54 | $2,710,000 | $50,185 | $0 | 5.84% |
For 2018, Envision Credit Union's most frequently originated type of loan was Conventional, with 54 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 27 | $1,315,000 | $48,704 | $0 | 5.96% |
| Other | 21 | $1,125,000 | $53,571 | $0 | 5.97% |
| Refi | 6 | $270,000 | $45,000 | $0 | 4.86% |
For 2018, Envision Credit Union's most frequently cited loan purpose was Home Improvement, with 27 originations. The 2nd most popular reason was Other, with 21 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 10 Year | 29 | $1,585,000 | $54,655 | $0 | 5.73% |
| 15 Year | 13 | $745,000 | $57,308 | $0 | 7.27% |
| 5 Year | 12 | $380,000 | $31,667 | $0 | 4.57% |
For 2018, Envision Credit Union's most frequently cited loan duration was 10 Year, with 29 originations. The 2nd most popular length was 15 Year, with 13 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 17 | $935,000 | $55,000 |
| 6-7% | 13 | $705,000 | $54,231 |
| 7-8% | 12 | $530,000 | $44,167 |
| 5-6% | 8 | $360,000 | $45,000 |
| 3-4% | 3 | $125,000 | $41,667 |
| <2.5% | 1 | $55,000 | $55,000 |
During 2018, Envision Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 17 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 52 | $2,270,000 | $43,654 | $0 | 5.84% |
| $200k-400k | 2 | $440,000 | $220,000 | $0 | 5.99% |
2018 saw Envision Credit Union place emphasis on $100,000 or less loans with 52 originations, totaling $2,270,000 in origination value.
Applicant Income
Envision Credit Union lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $100k-150k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 43% | 1 | $45,000 | $45,000 | $0 | 6.75% |
Envision Credit Union lent most frequently to those with DTI ratios of 43%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not provided | 45 | $2,295,000 | $51,000 | $0 | 5.82% |
| Native Hawaiian or Islander | 9 | $415,000 | $46,111 | $0 | 5.98% |
Approval Rates
Total approvals of all applications67.36%
Envision Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination46.30%
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 |
|---|---|---|---|
| Exempt | 54 | $2,710,000 | $50,185 |