Telco Plus Credit Union Mortgage Rates, Fees & Info

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LEI: 2549008CUN0J8JKWUL22

Tax ID: 75-0853180

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

Jump to:

  • 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

    Telco Plus Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Telco Plus Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Tyler, Longview, Jacksonville, Waco, and Dallas among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Telco Plus Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Telco Plus 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 6.41% 5/4/24
    30 Year Conventional Refi 5.86% 5/4/24
    30 Year FHA Purchase 6.27% 5/4/24
    15 Year Conventional Purchase 6.97% 5/4/24
    15 Year Conventional Refi 5.30% 5/4/24
    15 Year Cash-out Refi 5.30% 5/4/24
    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.

    Telco Plus Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Telco Plus 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

    69

    Origination Dollar Volume (All Markets)

    $14,725,000

    Awards

    Telco Plus Credit Union 30 Year Conventional Loans silver Telco Plus Credit Union 30 Year Conventional Loans gold Telco Plus Credit Union 30 Year Conventional Loans silver
    Show all (3) 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
    TYLER, TX (FHA|USDA|VA) 34 $7,960,000 $234,118 $3,763 4.07%
    LONGVIEW, TX (FHA|USDA|VA) 24 $3,760,000 $156,667 $2,749 4.45%
    Outside of Metro Areas 5 $1,755,000 $351,000 $5,262 3.93%
    Jacksonville, TX (FHA|USDA|VA) 4 $940,000 $235,000 $6,162 3.92%
    WACO, TX (FHA|USDA|VA) 1 $205,000 $205,000 $4,954 3.94%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $105,000 $105,000 $1,846 2.75%
    Telco Plus Credit Union's top markets include Tyler, Longview, Jacksonville, Waco, and Dallas among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Telco Plus Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Telco Plus Credit Union
    Similarity Rank: 60
    KELLY COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 180
    VeraBank
    Similarity Rank: 462
    Texas Bank and Trust Company
    Similarity Rank: 513
    Austin Bank, Texas
    Similarity Rank: 525
    TIB The Independent Bankersbank
    Similarity Rank: 594
    Texas Mortgage Lending, LLC
    Similarity Rank: 825
    Southside Bank
    Similarity Rank: 1363
    INTEGRITY MORTGAGE CORPORATION OF TEXAS
    Similarity Rank: 1876
    Prosperity Bank
    Similarity Rank: 2430

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 69 $14,725,000 $213,406 $3,672 4.16%

    For 2022, Telco Plus Credit Union's most frequently originated type of loan was Conventional, with 69 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 26 $5,430,000 $208,846 $2,432 3.92%
    Home Purchase 23 $6,225,000 $270,652 $5,644 4.57%
    Other 12 $1,040,000 $86,667 $827 3.74%
    Home Improvement 5 $1,865,000 $373,000 $8,711 3.53%
    Cash Out Refi 3 $165,000 $55,000 $624 5.88%

    For 2022, Telco Plus Credit Union's most frequently cited loan purpose was Refi, with 26 originations. The 2nd most popular reason was Home Purchase, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 26 $6,820,000 $262,308 $4,238 4.42%
    15 Year 25 $3,575,000 $143,000 $1,713 3.86%
    1 Year 6 $2,610,000 $435,000 $9,636 3.36%
    10 Year 4 $210,000 $52,500 $812 4.19%
    20 Year 4 $480,000 $120,000 $3,155 3.77%
    Other 4 $1,030,000 $257,500 $5,330 6.00%

    For 2022, Telco Plus Credit Union's most frequently cited loan duration was 30 Year, with 26 originations. The 2nd most popular length was 15 Year, with 25 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 32 $3,900,000 $121,875
    $1k-2k 12 $1,920,000 $160,000
    $4k-5k 7 $3,155,000 $450,714
    $2k-3k 6 $1,430,000 $238,333
    $3k-4k 5 $1,715,000 $343,000
    $5k+ 3 $1,805,000 $601,667

    Telco Plus Credit Union's average total fees were $4,238, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 32 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 20 $4,580,000 $229,000
    4-5% 13 $3,075,000 $236,538
    5-6% 11 $1,465,000 $133,182
    2.5-3% 10 $2,530,000 $253,000
    <2.5% 8 $1,310,000 $163,750
    6-7% 6 $1,700,000 $283,333
    Over 8% 1 $65,000 $65,000

    During 2022, Telco Plus Credit Union's average interest rate for loans was 4.42%, while their most frequently originated rate bucket for loans was 3-4%, with 20 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 22 $1,510,000 $68,636 $732 4.27%
    $200k-400k 21 $5,785,000 $275,476 $4,381 3.95%
    $100k-200k 16 $2,470,000 $154,375 $3,099 4.20%
    $400k-600k 8 $3,660,000 $457,500 $8,437 4.58%
    $600k-1MM 2 $1,300,000 $650,000 $11,854 3.37%

    2022 saw Telco Plus Credit Union place emphasis on $100,000 or less loans with 22 originations, totaling $1,510,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 15 $4,135,000 $275,667 $5,594 4.10%
    $150k-250k 15 $4,565,000 $304,333 $4,399 3.34%
    $50k or less 13 $1,205,000 $92,692 $1,649 4.77%
    $75k-100k 13 $2,655,000 $204,231 $3,212 4.22%
    $50k-75k 11 $1,185,000 $107,727 $2,233 4.34%
    $250k+ 2 $980,000 $490,000 $9,711 5.58%

    Telco Plus Credit Union lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $150k-250k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 18 $3,980,000 $221,111 $3,278 4.64%
    20-30% 12 $2,810,000 $234,167 $4,401 3.09%
    <20% 7 $985,000 $140,714 $1,758 2.85%
    39% 5 $1,135,000 $227,000 $2,582 5.19%
    45% 4 $910,000 $227,500 $2,701 4.58%
    48% 4 $540,000 $135,000 $2,292 4.54%
    43% 3 $1,095,000 $365,000 $8,025 5.07%
    38% 3 $305,000 $101,667 $2,357 4.54%
    37% 2 $710,000 $355,000 $5,196 3.37%
    36% 2 $480,000 $240,000 $9,550 4.25%
    44% 2 $590,000 $295,000 $7,030 4.22%
    50-60% 1 $85,000 $85,000 $1,826 5.29%
    40% 1 $205,000 $205,000 $4,954 3.94%
    41% 1 $155,000 $155,000 $3,326 4.00%
    42% 1 $185,000 $185,000 $4,070 4.13%
    46% 1 $355,000 $355,000 $8,974 2.74%
    47% 1 $85,000 $85,000 $244 5.22%
    49% 1 $115,000 $115,000 $1,860 6.58%

    Telco Plus Credit Union lent most frequently to those with DTI ratios of 30-36%, with 18 originations. The next most common DTI ratio? 20-30%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 52 $10,870,000 $209,038 $3,656 4.13%
    Black 17 $3,855,000 $226,765 $3,718 4.26%

    Approval Rates

    Total approvals of all applications
    93.67%

    Telco Plus Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.10%

    Telco Plus Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $395,000 $395,000
    417.03 1 $55,000 $55,000
    NA 67 $14,275,000 $213,060

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    69 $14,725,000 $213,406

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $385,000 $55,000 $241 4.04%
    40-60% 16 $2,270,000 $141,875 $2,421 4.07%
    60-80% 23 $5,555,000 $241,522 $4,059 3.97%
    80-100% 23 $6,515,000 $283,261 $5,246 4.46%