Credit Union Of Texas Mortgage Rates, Fees & Info
Plano, TXLEI: 254900Z5QRSHW4Y8CR51
Tax ID: 75-0225045
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Mortgage Data
Review & Overview
Credit Union Of Texas is a smaller credit union specializing in Cash Out Refi loans. Credit Union Of Texas has a low ratio of conventional loans. Their top markets by origination volume include: Dallas, Houston, Austin, San Antonio, and Longview among others. We have data for 42 markets. (Some data included below & more in-depth data is available with an active subscription.)Credit Union Of Texas 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. Credit Union Of Texas 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) | 6.72% | 5/25/25 |
| 30 Year Conventional Purchase | 7.22% | 5/25/25 |
| 30 Year Cash-out Refi | 6.53% | 5/25/25 |
| 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. | ||
Credit Union Of Texas 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
2,502Origination Dollar Volume (All Markets)
$309,920,000Relative Rate
Credit Union Of Texas's average 30 year fixed mortgage rate was
6.63%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.08%.
Relative Fees (Closing Costs)
Credit Union Of Texas's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,589.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2,054 | $257,520,000 | $125,375 | $0 | 9.07% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 147 | $17,735,000 | $120,646 | $0 | 9.14% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 46 | $6,630,000 | $144,130 | $0 | 8.94% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 27 | $3,075,000 | $113,889 | $0 | 9.29% |
| LONGVIEW, TX (FHA|USDA|VA) | 34 | $2,950,000 | $86,765 | $0 | 9.09% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 24 | $2,610,000 | $108,750 | $0 | 9.09% |
| Outside of Metro Areas | 26 | $2,330,000 | $89,615 | $0 | 8.90% |
| TYLER, TX (FHA|USDA|VA) | 23 | $2,235,000 | $97,174 | $0 | 9.08% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $1,555,000 | $1,555,000 | $5,176 | 6.15% |
| EL PASO, TX (FHA|USDA|VA) | 13 | $1,295,000 | $99,615 | $0 | 9.22% |
| MIDLAND, TX (FHA|USDA|VA) | 6 | $1,080,000 | $180,000 | $0 | 9.16% |
| Bonham, TX (FHA|USDA|VA) | 10 | $1,010,000 | $101,000 | $0 | 9.09% |
| Paris, TX (FHA|USDA|VA) | 12 | $1,000,000 | $83,333 | $0 | 9.48% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 7 | $615,000 | $87,857 | $0 | 9.53% |
| TULSA, OK (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $5,590 | 7.25% |
| Mount Pleasant, TX (FHA|USDA|VA) | 7 | $545,000 | $77,857 | $0 | 9.14% |
| VICTORIA, TX (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $0 | 8.85% |
| Granbury, TX (FHA|USDA|VA) | 4 | $480,000 | $120,000 | $0 | 8.99% |
| WACO, TX (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $0 | 8.40% |
| Athens, TX (FHA|USDA|VA) | 6 | $430,000 | $71,667 | $0 | 8.80% |
| Corsicana, TX (FHA|USDA|VA) | 6 | $430,000 | $71,667 | $0 | 9.21% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 5 | $415,000 | $83,000 | $0 | 9.43% |
| TEXARKANA, TX-AR (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $0 | 9.90% |
| Fredericksburg, TX (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 8.85% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $0 | 8.70% |
| LUBBOCK, TX (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 8.28% |
| Brenham, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 8.20% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 3 | $295,000 | $98,333 | $0 | 9.40% |
| LAREDO, TX (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $0 | 8.95% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 8.55% |
| SAN ANGELO, TX (FHA|USDA|VA) | 3 | $185,000 | $61,667 | $0 | 9.32% |
| Mineral Wells, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 8.95% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 6.50% |
| Gainesville, TX (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 9.50% |
| ABILENE, TX (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 9.33% |
| Nacogdoches, TX (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 9.38% |
| ODESSA, TX (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $0 | 9.40% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 9.00% |
| Sulphur Springs, TX (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 9.90% |
| AMARILLO, TX (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 9.93% |
| WICHITA FALLS, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 9.40% |
| Lufkin, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 8.85% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 2,497 | $307,265,000 | $123,054 | n/a | 9.08% |
| Conventional | 5 | $2,655,000 | $531,000 | $3,589 | 7.70% |
For 2024, Credit Union Of Texas's most frequently originated type of loan was HELOC, with 2,497 originations. Their 2nd most popular type was Conventional, with 5 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 2,493 | $308,615,000 | $123,793 | $2,588 | 9.08% |
| Home Purchase | 9 | $1,305,000 | $145,000 | $5,590 | 8.92% |
For 2024, Credit Union Of Texas's most frequently cited loan purpose was Cash Out Refi, with 2,493 originations. The 2nd most popular reason was Home Purchase, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 2,499 | $307,615,000 | $123,095 | $0 | 9.08% |
| 30 Year | 3 | $2,305,000 | $768,333 | $3,589 | 6.63% |
For 2024, Credit Union Of Texas's most frequently cited loan duration was Other, with 2,499 originations. The 2nd most popular length was 30 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 3 | $535,000 | $178,333 |
| $1k-2k | 2 | $2,120,000 | $1,060,000 |
Credit Union Of Texas's average total fees were $3,589, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 2,394 | $287,130,000 | $119,937 |
| 7-8% | 103 | $20,565,000 | $199,660 |
| 6-7% | 3 | $1,855,000 | $618,333 |
| 5-6% | 1 | $245,000 | $245,000 |
During 2024, Credit Union Of Texas's average interest rate for loans was 6.63%, while their most frequently originated rate bucket for loans was Over 8%, with 2,394 originations.
Loan Sizing
2024 saw Credit Union Of Texas place emphasis on $100,000 or less loans with 1,261 originations, totaling $77,125,000 in origination value.
Applicant Income
Credit Union Of Texas lent most frequently to those with incomes in the $150k-250k range, with 634 originations. The second most popular income band? $100k-150k, with 633 originations.
Applicant Debt to Income Ratio
Credit Union Of Texas lent most frequently to those with DTI ratios of 30-36%, with 408 originations. The next most common DTI ratio? 20-30%, with 355 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications70.83%
Credit Union Of Texas has a below average approval rate.
Pick Rate
Approvals leading to origination64.87%
Credit Union Of Texas 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 |
|---|---|---|---|
| 0.0 | 2,497 | $307,185,000 | $123,022 |
| NA | 5 | $2,735,000 | $547,000 |