Cooperative Teachers Credit Union Mortgage Rates, Fees & Info
Tyler, TXLEI: 254900D4M439MIWMBX82
Tax ID: 75-0905956
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Mortgage Data
Review & Overview
Cooperative Teachers Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Cooperative Teachers Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Tyler, Dallas, Jacksonville, Athens, and Gainesville among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Cooperative Teachers Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. They typically have relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.74% | 11/17/24 |
| 30 Year Cash-out Refi | 6.62% | 11/17/24 |
| 15 Year Conventional Purchase | 6.39% | 11/17/24 |
| 15 Year Conventional Refi | 6.17% | 11/17/24 |
| 15 Year Cash-out Refi | 6.17% | 11/17/24 |
| 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. | ||
Cooperative Teachers 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
45Origination Dollar Volume (All Markets)
$9,725,000Relative Rate
Cooperative Teachers Credit Union's average 30 year fixed mortgage rate was
6.5%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.02%.
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) | 20 | $4,790,000 | $239,500 | $0 | 6.75% |
| Outside of Metro Areas | 7 | $1,635,000 | $233,571 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $0 | 0.00% |
| Jacksonville, TX (FHA|USDA|VA) | 5 | $775,000 | $155,000 | $0 | 0.00% |
| Athens, TX (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $0 | 0.00% |
| Gainesville, TX (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| Palestine, TX (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $0 | 6.88% |
| LONGVIEW, TX (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $0 | 0.00% |
| WACO, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Cooperative Teachers 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 | 45 | $9,725,000 | $216,111 | $0 | 6.78% |
For 2023, Cooperative Teachers Credit Union's most frequently originated type of loan was Conventional, with 45 originations.
Loan Reason
For 2023, Cooperative Teachers Credit Union's most frequently cited loan purpose was Cash Out Refi, with 27 originations. The 2nd most popular reason was Home Purchase, with 14 originations.
Loan Duration/Length
For 2023, Cooperative Teachers Credit Union's most frequently cited loan duration was Other, with 23 originations. The 2nd most popular length was 30 Year, with 13 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $2k-3k | 1 | $285,000 | $285,000 |
Cooperative Teachers Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 2 | $440,000 | $220,000 |
| 5-6% | 1 | $245,000 | $245,000 |
| 6-7% | 1 | $215,000 | $215,000 |
During 2023, Cooperative Teachers Credit Union's average interest rate for loans was 6.50%, while their most frequently originated rate bucket for loans was 7-8%, with 2 originations.
Loan Sizing
2023 saw Cooperative Teachers Credit Union place emphasis on $100k-200k loans with 16 originations, totaling $2,300,000 in origination value.
Applicant Income
Cooperative Teachers Credit Union lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $75k-100k, with 15 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30-36% | 1 | $285,000 | $285,000 | $0 | 7.63% |
Cooperative Teachers Credit Union lent most frequently to those with DTI ratios of 30-36%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.86%
Cooperative Teachers Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination64.44%
Cooperative Teachers 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 | 45 | $9,725,000 | $216,111 |