Transportation Federal Credit Union Mortgage Rates, Fees & Info

Washington, DC

LEI: 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.

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% 3/28/24
30 Year Conventional Purchase 6.27% 3/28/24
30 Year Cash-out Refi 6.27% 3/28/24
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

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

This is not an official calculator from Transportation 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

79

Origination Dollar Volume (All Markets)

$6,425,000

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
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%
Transportation Federal Credit Union's top markets include Washington, Cincinnati, Chicago, Baltimore, and Miami among others.

Their top states include:
  • Maryland (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 41 $2,795,000 $68,171 $1,616 7.74%
    Other 19 $1,835,000 $96,579 $1,688 7.89%
    Home Improvement 17 $1,685,000 $99,118 $1,559 7.97%
    Refi 2 $110,000 $55,000 $1,586 8.00%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 37 $2,725,000 $73,649 $1,640 8.61%
    10 Year 26 $1,850,000 $71,154 $1,601 6.63%
    15 Year 13 $1,685,000 $129,615 $1,704 8.23%
    5 Year 3 $165,000 $55,000 $1,501 7.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 60 $3,650,000 $60,833 $1,597 7.75%
    $100k-200k 16 $2,020,000 $126,250 $1,756 8.08%
    $200k-400k 3 $755,000 $251,667 $0 8.33%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 27 $1,885,000 $69,815 $1,620 7.52%
    $150k-250k 23 $2,305,000 $100,217 $1,614 7.99%
    $50k-75k 12 $700,000 $58,333 $1,634 7.83%
    $75k-100k 10 $630,000 $63,000 $1,631 8.03%
    $250k+ 7 $905,000 $129,286 $1,666 8.29%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 18 $1,380,000 $76,667 $1,701 7.46%
    20-30% 11 $995,000 $90,455 $1,559 7.80%
    40% 8 $700,000 $87,500 $1,554 8.66%
    44% 6 $480,000 $80,000 $1,750 7.63%
    37% 6 $400,000 $66,667 $1,541 8.13%
    41% 6 $520,000 $86,667 $1,682 8.25%
    39% 6 $610,000 $101,667 $1,532 7.83%
    42% 5 $365,000 $73,000 $1,572 8.15%
    36% 4 $300,000 $75,000 $1,607 8.13%
    38% 3 $235,000 $78,333 $1,668 7.42%
    45% 2 $170,000 $85,000 $1,812 8.63%
    43% 2 $140,000 $70,000 $1,514 6.00%
    <20% 2 $130,000 $65,000 $1,501 7.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 44 $3,750,000 $85,227 $1,665 7.67%
    Not provided 21 $1,545,000 $73,571 $1,593 8.12%
    Black 13 $985,000 $75,769 $1,518 7.85%
    Asian 1 $145,000 $145,000 $0 9.00%

    Approval Rates

    Total approvals of all applications
    77.30%

    Transportation Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    54.43%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    79 $6,425,000 $81,329

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 40 $3,420,000 $85,500 $1,644 8.01%
    60-80% 1 $95,000 $95,000 $1,561 8.75%
    Under 20% 38 $2,910,000 $76,579 $1,604 7.63%