Transportation Federal Credit Union Mortgage Rates, Fees & Info
Washington, DCLEI: 254900UD8AEXTVCVAF72
Tax ID: 53-0201494
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Mortgage Data
Review & Overview
Transportation Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Other, and Home Improvement loans. Transportation Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Cincinnati, Chicago, Baltimore, and Miami among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)Transportation 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.
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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 | 6.27% | 11/17/24 |
| 30 Year Cash-out Refi | 6.27% | 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. | ||
Transportation Federal Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
79Origination Dollar Volume (All Markets)
$6,425,000Top 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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 25 | $2,645,000 | $105,800 | $1,641 | 7.86% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 5 | $525,000 | $105,000 | $1,964 | 7.20% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 5 | $375,000 | $75,000 | $1,519 | 8.20% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 5 | $295,000 | $59,000 | $1,665 | 8.05% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 8.50% |
| Outside of Metro Areas | 3 | $225,000 | $75,000 | $1,587 | 8.58% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $1,416 | 7.50% |
| APPLETON, WI (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $1,486 | 8.38% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 3 | $145,000 | $48,333 | $1,747 | 8.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $1,911 | 8.88% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $1,526 | 6.63% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 7.75% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,670 | 5.50% |
| Stevens Point, WI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $1,526 | 6.75% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,650 | 5.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,565 | 5.50% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,028 | 8.75% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,139 | 9.00% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,749 | 6.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,357 | 8.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,386 | 7.00% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,551 | 9.00% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,616 | 9.00% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,726 | 8.50% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,468 | 6.50% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,939 | 8.75% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,466 | 9.00% |
| Branson, MO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,191 | 8.75% |
| JOPLIN, MO (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,175 | 8.50% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,866 | 6.50% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,670 | 9.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,526 | 5.50% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,797 | 8.75% |
| Palatka, FL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,316 | 9.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 71 | $5,085,000 | $71,620 | $1,625 | 7.76% |
| HELOC | 8 | $1,340,000 | $167,500 | n/a | 8.47% |
For 2023, Transportation Federal Credit Union's most frequently originated type of loan was Conventional, with 71 originations. Their 2nd most popular type was HELOC, with 8 originations.
Loan Reason
For 2023, Transportation Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 41 originations. The 2nd most popular reason was Other, with 19 originations.
Loan Duration/Length
For 2023, Transportation Federal Credit Union's most frequently cited loan duration was 20 Year, with 37 originations. The 2nd most popular length was 10 Year, with 26 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 70 | $5,000,000 | $71,429 |
Transportation Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 70 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 43 | $3,695,000 | $85,930 |
| 6-7% | 15 | $935,000 | $62,333 |
| 7-8% | 12 | $1,170,000 | $97,500 |
| 5-6% | 9 | $625,000 | $69,444 |
During 2023, Transportation Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 43 originations.
Loan Sizing
2023 saw Transportation Federal Credit Union place emphasis on $100,000 or less loans with 60 originations, totaling $3,650,000 in origination value.
Applicant Income
Transportation Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 27 originations. The second most popular income band? $150k-250k, with 23 originations.
Applicant Debt to Income Ratio
Transportation Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 18 originations. The next most common DTI ratio? 20-30%, with 11 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications77.30%
Transportation Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination54.43%
Transportation Federal 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 | 79 | $6,425,000 | $81,329 |