Teg Federal Credit Union Mortgage Rates, Fees & Info

Poughkeepsie, NY

LEI: 254900MWCJLSHMSYCL19

Tax ID: 14-6077731

5 stars - Updated: 6/22/25 - out of 5 stars, based on 14 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Teg Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Teg Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Poughkeepsie, New York, Kingston, Hudson, and Deltona among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Teg Federal 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. Teg Federal 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 6.90% 6/22/25
    30 Year Conventional Refi 6.42% 6/22/25
    30 Year Cash-out Refi 6.82% 6/22/25
    30 Year FHA Purchase 6.72% 6/22/25
    15 Year Conventional Purchase 6.23% 6/22/25
    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.

    Teg Federal Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Teg Federal 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

    194

    Origination Dollar Volume (All Markets)

    $61,940,000

    Awards

    TEG Federal Credit Union 30 Year Conventional Loans gold TEG Federal Credit Union 30 Year Conventional Loans gold
    Show all (2) awards

    Relative Rate

    Teg Federal Credit Union's average 30 year fixed mortgage rate was 6.7%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.15%.

    Relative Fees (Closing Costs)

    Teg Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,804.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 155 $50,155,000 $323,581 $3,113 7.47%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 17 $7,055,000 $415,000 $5,195 7.23%
    KINGSTON, NY (FHA|USDA|VA) 13 $2,355,000 $181,154 $1,651 8.98%
    Outside of Metro Areas 5 $1,355,000 $271,000 $5,380 6.90%
    Hudson, NY (FHA|USDA|VA) 3 $675,000 $225,000 $1,767 8.08%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $345,000 $345,000 $9,976 7.63%
    Teg Federal Credit Union's top markets include Poughkeepsie, New York, Kingston, Hudson, and Deltona among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)

    • Similar Lenders

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

    Columbia Bank
    Similarity Rank: 64
    N C P D Federal Credit Union
    Similarity Rank: 126
    BNB Bank
    Similarity Rank: 154
    Rhinebeck Bank
    Similarity Rank: 156
    ISLAND
    Similarity Rank: 260
    PCSB Bank
    Similarity Rank: 384
    Bogota Savings Bank
    Similarity Rank: 450
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 504
    Nassau Educators Federal Credit Union
    Similarity Rank: 504
    POLISH & SLAVIC FEDERAL CREDIT UNION
    Similarity Rank: 506

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 194 $61,940,000 $319,278 $3,257 7.55%

    For 2024, Teg Federal Credit Union's most frequently originated type of loan was Conventional, with 194 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 144 $54,730,000 $380,069 $4,055 6.74%
    Other 29 $2,975,000 $102,586 $620 10.44%
    Cash Out Refi 14 $3,120,000 $222,857 $1,574 8.28%
    Home Improvement 6 $390,000 $65,000 $83 11.42%
    Refi 1 $725,000 $725,000 $3,743 5.75%

    For 2024, Teg Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 144 originations. The 2nd most popular reason was Other, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 132 $49,230,000 $372,955 $3,804 6.70%
    15 Year 30 $6,690,000 $223,000 $1,764 8.95%
    10 Year 19 $1,195,000 $62,895 $26 10.54%
    30+ year 8 $4,600,000 $575,000 $7,475 6.92%
    5 Year 4 $190,000 $47,500 $0 11.31%
    Other 1 $35,000 $35,000 $0 10.25%

    For 2024, Teg Federal Credit Union's most frequently cited loan duration was 30 Year, with 132 originations. The 2nd most popular length was 15 Year, with 30 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 179 $56,235,000 $314,162

    Teg Federal Credit Union's average total fees were $3,804, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 179 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 106 $40,430,000 $381,415
    7-8% 44 $14,690,000 $333,864
    Over 8% 33 $1,955,000 $59,242
    5-6% 11 $4,865,000 $442,273

    During 2024, Teg Federal Credit Union's average interest rate for loans was 6.70%, while their most frequently originated rate bucket for loans was 6-7%, with 106 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 76 $22,480,000 $295,789 $4,095 6.84%
    $400k-600k 47 $22,705,000 $483,085 $3,881 6.75%
    $100,000 or less 37 $2,075,000 $56,081 $291 10.50%
    $600k-1MM 18 $12,230,000 $679,444 $4,806 6.63%
    $100k-200k 16 $2,450,000 $153,125 $2,984 7.44%

    2024 saw Teg Federal Credit Union place emphasis on $200k-400k loans with 76 originations, totaling $22,480,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 59 $21,645,000 $366,864 $3,294 7.67%
    $100k-150k 44 $13,000,000 $295,455 $3,119 7.25%
    $75k-100k 42 $8,730,000 $207,857 $2,821 8.00%
    $250k+ 24 $12,670,000 $527,917 $4,470 7.16%
    $50k-75k 12 $1,860,000 $155,000 $2,962 6.88%
    $50k or less 2 $120,000 $60,000 $1,561 11.50%

    Teg Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 59 originations. The second most popular income band? $100k-150k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 33 $10,145,000 $307,424 $3,265 7.18%
    20-30% 24 $8,520,000 $355,000 $3,608 6.84%
    36% 15 $3,105,000 $207,000 $2,587 8.43%
    49% 13 $4,375,000 $336,538 $3,020 7.57%
    42% 13 $3,345,000 $257,308 $3,217 7.67%
    41% 12 $3,720,000 $310,000 $1,984 8.91%
    39% 12 $4,070,000 $339,167 $4,002 7.76%
    48% 9 $2,995,000 $332,778 $3,233 7.93%
    38% 9 $3,395,000 $377,222 $3,989 6.63%
    43% 7 $2,305,000 $329,286 $2,568 7.79%
    37% 7 $3,235,000 $462,143 $4,990 6.57%
    46% 6 $2,100,000 $350,000 $4,499 7.50%
    <20% 5 $685,000 $137,000 $2,450 7.40%
    40% 5 $1,915,000 $383,000 $2,970 7.43%
    45% 5 $1,665,000 $333,000 $4,761 6.90%
    47% 5 $1,355,000 $271,000 $1,692 9.00%
    44% 2 $630,000 $315,000 $1,479 10.94%
    50-60% 1 $465,000 $465,000 $2,738 7.25%

    Teg Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 33 originations. The next most common DTI ratio? 20-30%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 135 $42,705,000 $316,333 $3,110 7.57%
    Not provided 25 $7,375,000 $295,000 $3,275 7.95%
    Black 12 $3,950,000 $329,167 $4,200 7.19%
    Not applicable 11 $3,915,000 $355,909 $0 7.18%
    Asian 6 $2,320,000 $386,667 $3,270 7.00%
    Asian Indian 2 $640,000 $320,000 $3,761 7.19%
    American Indian 1 $555,000 $555,000 $4,402 7.13%
    Chinese 1 $345,000 $345,000 $7,461 7.63%
    Other Asian 1 $135,000 $135,000 $4,818 6.38%

    Approval Rates

    Total approvals of all applications
    89.27%

    Teg Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.14%

    Teg Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 194 $61,940,000 $319,278

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    194 $61,940,000 $319,278

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $980,000 $122,500 $798 9.58%
    40-60% 14 $3,740,000 $267,143 $3,560 6.73%
    60-80% 62 $25,940,000 $418,387 $4,388 6.79%
    80-100% 75 $28,795,000 $383,933 $3,939 6.77%
    Under 20% 35 $2,485,000 $71,000 $307 10.41%