Cooperative Teachers Credit Union Mortgage Rates, Fees & Info

Tyler, TX

LEI: 254900D4M439MIWMBX82

Tax ID: 75-0905956

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

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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% 3/28/24
30 Year Cash-out Refi 6.62% 3/28/24
15 Year Conventional Purchase 6.39% 3/28/24
15 Year Conventional Refi 6.17% 3/28/24
15 Year Cash-out Refi 6.17% 3/28/24
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






Your Estimates

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

This is not an official calculator from Cooperative Teachers 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

45

Origination Dollar Volume (All Markets)

$9,725,000

Relative 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%
Cooperative Teachers Credit Union's top markets include Tyler, Dallas, Jacksonville, Athens, and Gainesville among others.

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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 27 $4,305,000 $159,444 $0 6.78%
    Home Purchase 14 $4,300,000 $307,143 $0 0.00%
    Refi 2 $650,000 $325,000 $0 0.00%
    Home Improvement 1 $45,000 $45,000 $0 0.00%
    NA 1 $425,000 $425,000 $0 0.00%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 23 $3,665,000 $159,348 $0 0.00%
    30 Year 13 $4,885,000 $375,769 $0 6.50%
    15 Year 7 $925,000 $132,143 $0 7.63%
    20 Year 2 $250,000 $125,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 16 $2,300,000 $143,750 $0 7.13%
    $100,000 or less 12 $860,000 $71,667 $0 0.00%
    $200k-400k 12 $3,710,000 $309,167 $0 6.67%
    $400k-600k 3 $1,395,000 $465,000 $0 0.00%
    $600k-1MM 2 $1,460,000 $730,000 $0 0.00%

    2023 saw Cooperative Teachers Credit Union place emphasis on $100k-200k loans with 16 originations, totaling $2,300,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 15 $2,905,000 $193,667 $0 0.00%
    $75k-100k 15 $2,615,000 $174,333 $0 6.50%
    $150k-250k 7 $2,055,000 $293,571 $0 0.00%
    $250k+ 4 $1,730,000 $432,500 $0 7.63%
    $50k-75k 3 $325,000 $108,333 $0 0.00%
    $50k or less 1 $95,000 $95,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 38 $8,420,000 $221,579 $0 6.78%
    American Indian 2 $790,000 $395,000 $0 0.00%
    Black 3 $185,000 $61,667 $0 0.00%
    Not provided 1 $175,000 $175,000 $0 0.00%
    Asian 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.86%

    Cooperative Teachers Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    64.44%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    45 $9,725,000 $216,111

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $1,000,000 $100,000 $0 0.00%
    40-60% 7 $1,155,000 $165,000 $0 0.00%
    60-80% 14 $3,740,000 $267,143 $0 6.50%
    80-100% 9 $3,495,000 $388,333 $0 7.63%
    Under 20% 5 $335,000 $67,000 $0 0.00%