Resource One Credit Union Mortgage Rates, Fees & Info
Dallas, TXLEI: 254900QC7DVGIYVGB494
Tax ID: 75-0821285
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Mortgage Data
Review & Overview
Resource One Credit Union is a smaller credit union specializing in Cash Out Refi loans. Their top (well, only) market is Dallas.Resource One Credit Union has a below 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/17/24 |
| 30 Year Conventional Purchase | 7.08% | 11/17/24 |
| 30 Year Conventional Refi | 6.47% | 11/17/24 |
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 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. | ||
Resource One 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
1Origination Dollar Volume (All Markets)
$55,000Top 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 |
|---|---|---|---|---|---|
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.17% |
Similar Lenders
We use machine learning to identify the top lenders compared against Resource One Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 258
Similarity Rank: 360
Similarity Rank: 714
Similarity Rank: 770
Similarity Rank: 981
Similarity Rank: 1048
Similarity Rank: 1050
Similarity Rank: 1050
Similarity Rank: 1054
Similarity Rank: 1275
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 1 | $55,000 | $55,000 | n/a | 7.17% |
For 2023, Resource One Credit Union's most frequently originated type of loan was HELOC, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 1 | $55,000 | $55,000 | $0 | 7.17% |
For 2023, Resource One Credit Union's most frequently cited loan purpose was Cash Out Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20 Year | 1 | $55,000 | $55,000 | $0 | 7.17% |
For 2023, Resource One Credit Union's most frequently cited loan duration was 20 Year, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 1 | $55,000 | $55,000 |
During 2023, Resource One Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 1 | $55,000 | $55,000 | $0 | 7.17% |
2023 saw Resource One Credit Union place emphasis on $100,000 or less loans with 1 originations, totaling $55,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 1 | $55,000 | $55,000 | $0 | 7.17% |
Resource One Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 42% | 1 | $55,000 | $55,000 | $0 | 7.17% |
Resource One Credit Union lent most frequently to those with DTI ratios of 42%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1 | $55,000 | $55,000 | $0 | 7.17% |
Approval Rates
Total approvals of all applications50.35%
Resource One Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination-4,400.00%
Resource One 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 | 1 | $55,000 | $55,000 |