Teg Federal Credit Union Mortgage Rates, Fees & Info
Poughkeepsie, NYLEI: 254900MWCJLSHMSYCL19
Tax ID: 14-6077731
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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, Kingston, New York, Bridgeport, and Glens Falls among others. We have data for 9 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.
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 | 6.67% | 4/18/24 |
| 30 Year Conventional Refi | 6.81% | 4/18/24 |
| 30 Year Cash-out Refi | 6.81% | 4/18/24 |
| 15 Year Conventional Purchase | 6.17% | 4/18/24 |
| 15 Year Conventional Refi | 6.53% | 4/18/24 |
| 15 Year Cash-out Refi | 6.53% | 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. | ||
Teg Federal Credit Union Mortgage Calculator
Your Estimates
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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
225Origination Dollar Volume (All Markets)
$52,545,000Top 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 |
|---|---|---|---|---|---|
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 192 | $45,340,000 | $236,146 | $0 | 0.00% |
| KINGSTON, NY (FHA|USDA|VA) | 18 | $3,950,000 | $219,444 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 7 | $1,985,000 | $283,571 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $405,000 | $135,000 | $0 | 0.00% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| GLENS FALLS, NY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Torrington, CT (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 225 | $52,545,000 | $233,533 | $0 | 0.00% |
For 2018, Teg Federal Credit Union's most frequently originated type of loan was Conventional, with 225 originations.
Loan Reason
For 2018, Teg Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 155 originations. The 2nd most popular reason was Cash Out Refi, with 40 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 225 | $52,545,000 | $233,533 | $0 | 0.00% |
For 2018, Teg Federal Credit Union's most frequently cited loan duration was Other, with 225 originations.
Loan Sizing
2018 saw Teg Federal Credit Union place emphasis on $200k-400k loans with 120 originations, totaling $32,100,000 in origination value.
Applicant Income
Teg Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 74 originations. The second most popular income band? $150k-250k, with 48 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 225 | $52,545,000 | $233,533 | $0 | 0.00% |
Teg Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 225 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.93%
Teg Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination74.22%
Teg Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 225 | $52,545,000 | $233,533 |