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 Refi loans. Resource One Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Houston, Austin, Mount Pleasant, and Athens among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Resource One 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. Resource One 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 7.08% | 12/16/24 |
| 30 Year Conventional Refi | 6.47% | 12/16/24 |
| 15 Year Conventional Refi | 5.68% | 12/16/24 |
| 15 Year Cash-out Refi | 5.68% | 12/16/24 |
| 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
239Origination Dollar Volume (All Markets)
$43,875,000Top 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) | 191 | $33,695,000 | $176,414 | $3,845 | 3.31% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 40 | $8,580,000 | $214,500 | $4,428 | 3.15% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $8,557 | 3.63% |
| Outside of Metro Areas | 2 | $280,000 | $140,000 | $2,616 | 3.06% |
| Mount Pleasant, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,999 | 3.13% |
| Athens, TX (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $2,780 | 3.00% |
| Bonham, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,608 | 4.25% |
| TYLER, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,561 | 2.38% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 239 | $43,875,000 | $183,577 | $3,939 | 3.28% |
For 2020, Resource One Credit Union's most frequently originated type of loan was Conventional, with 239 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 202 | $36,980,000 | $183,069 | $3,909 | 3.20% |
| Home Purchase | 37 | $6,895,000 | $186,351 | $4,101 | 3.73% |
For 2020, Resource One Credit Union's most frequently cited loan purpose was Refi, with 202 originations. The 2nd most popular reason was Home Purchase, with 37 originations.
Loan Duration/Length
For 2020, Resource One Credit Union's most frequently cited loan duration was 30 Year, with 127 originations. The 2nd most popular length was 15 Year, with 59 originations.
Origination Fees/Closing Costs
Resource One Credit Union's average total fees were $4,520, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 92 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 131 | $26,145,000 | $199,580 |
| 2.5-3% | 75 | $12,735,000 | $169,800 |
| <2.5% | 15 | $3,035,000 | $202,333 |
| 4-5% | 15 | $1,705,000 | $113,667 |
| 5-6% | 3 | $255,000 | $85,000 |
During 2020, Resource One Credit Union's average interest rate for loans was 3.37%, while their most frequently originated rate bucket for loans was 3-4%, with 131 originations.
Loan Sizing
2020 saw Resource One Credit Union place emphasis on $100k-200k loans with 97 originations, totaling $14,495,000 in origination value.
Applicant Income
Resource One Credit Union lent most frequently to those with incomes in the $50k-75k range, with 61 originations. The second most popular income band? $75k-100k, with 61 originations.
Applicant Debt to Income Ratio
Resource One Credit Union lent most frequently to those with DTI ratios of 20-30%, with 42 originations. The next most common DTI ratio? 30-36%, with 38 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications75.38%
Resource One Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination13.39%
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 | 239 | $43,875,000 | $183,577 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 239 | $43,875,000 | $183,577 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Resurgent Capital Services L.P. | Conventional home mortgage | Trouble during payment process | 1 | 33.3% |
| Resurgent Capital Services L.P. | Other type of mortgage | Trouble during payment process | 2 | 66.7% |