Credit Union Of Texas Mortgage Rates, Fees & Info

Plano, TX

LEI: 254900Z5QRSHW4Y8CR51

Tax ID: 75-0225045

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Credit Union Of Texas is a smaller credit union specializing in Cash Out Refi loans. Credit Union Of Texas has a high proportion of conventional loans. Their top markets include Dallas, Austin, Houston, San Antonio, and Sherman among others. Credit Union Of Texas has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

1,716

Origination Dollar Volume (All Markets)

$199,640,000

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1,470 $165,140,000 $112,340 $0 5.41%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 66 $12,190,000 $184,697 $0 4.96%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 79 $10,995,000 $139,177 $0 5.28%
Outside of Metro Areas 28 $3,300,000 $117,857 $0 5.29%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 10 $2,090,000 $209,000 $0 4.77%
SHERMAN-DENISON, TX (FHA|USDA|VA) 6 $760,000 $126,667 $0 5.62%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 5 $575,000 $115,000 $0 5.98%
EL PASO, TX (FHA|USDA|VA) 6 $500,000 $83,333 $0 5.46%
Granbury, TX (FHA|USDA|VA) 5 $485,000 $97,000 $0 5.24%
CORPUS CHRISTI, TX (FHA|USDA|VA) 4 $400,000 $100,000 $0 5.41%
LONGVIEW, TX (FHA|USDA|VA) 2 $400,000 $200,000 $0 4.75%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 2 $380,000 $190,000 $0 4.88%
Mount Pleasant, TX (FHA|USDA|VA) 4 $370,000 $92,500 $0 5.93%
TYLER, TX (FHA|USDA|VA) 5 $325,000 $65,000 $0 5.27%
WACO, TX (FHA|USDA|VA) 3 $255,000 $85,000 $0 6.37%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 3 $185,000 $61,667 $0 5.58%
Gainesville, TX (FHA|USDA|VA) 1 $175,000 $175,000 $0 4.20%
Pecos, TX (FHA|USDA|VA) 1 $145,000 $145,000 $0 6.25%
LAREDO, TX (FHA|USDA|VA) 1 $135,000 $135,000 $0 6.25%
MIDLAND, TX (FHA|USDA|VA) 2 $100,000 $50,000 $0 5.95%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.25%
Levelland, TX (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.25%
Big Spring, TX (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.75%
Athens, TX (FHA|USDA|VA) 2 $80,000 $40,000 $0 6.83%
ABILENE, TX (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.75%
Corsicana, TX (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.75%
AMARILLO, TX (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.50%
VICTORIA, TX (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.70%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.70%
Bonham, TX (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.95%
Brenham, TX (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.95%
SAN ANGELO, TX (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.45%

Credit Union Of Texas's top markets include Dallas, Austin, Houston, San Antonio, and Sherman among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,716 $199,640,000 $116,340 $0 5.39%

For the 2021 period, Credit Union Of Texas's most frequently originated loan type of loans were Conventional, with 1,716 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 1,714 $199,410,000 $116,342 $0 5.39%
Home Purchase 2 $230,000 $115,000 $0 4.85%

For the 2021, Credit Union Of Texas's most frequently cited loan purpose of loans were Cash Out Refi, with 1,714 originations. The 2nd most popular reason of loans were Home Purchase, with 2 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 1,716 $199,640,000 $116,340 $0 5.39%

For the 2021, Credit Union Of Texas's most frequently cited loan length of loans were Other, with 1,716 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
5-6% 727 $79,555,000 $109,429
4-5% 482 $63,810,000 $132,386
6-7% 253 $19,635,000 $77,609
3-4% 152 $32,970,000 $216,908
7-8% 101 $3,515,000 $34,802
2.5-3% 1 $155,000 $155,000

During 2021, Credit Union Of Texas's average interest rate of loans were 0.00%, while their most frequently originated rate bucket of loans were 5-6%, with 727 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 981 $60,695,000 $61,871 $0 5.71%
$100k-200k 489 $66,265,000 $135,511 $0 5.12%
$200k-400k 232 $64,040,000 $276,034 $0 4.65%
$400k-600k 9 $4,265,000 $473,889 $0 4.63%
$600k-1MM 4 $3,170,000 $792,500 $0 4.06%
$1MM+ 1 $1,205,000 $1,205,000 $0 5.00%

2021 saw Credit Union Of Texas place emphasis on $100,000 or less loans with 981 originations, totaling $60,695,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 395 $42,815,000 $108,392 $0 5.37%
$150k-250k 383 $56,875,000 $148,499 $0 5.09%
$50k-75k 338 $29,900,000 $88,462 $0 5.59%
$75k-100k 298 $28,420,000 $95,369 $0 5.63%
$250k+ 171 $32,085,000 $187,632 $0 4.91%
$50k or less 130 $9,340,000 $71,846 $0 5.87%

Credit Union Of Texas lent most frequently to those with incomes in the $100k-150k range, with 395 originations. The second most popular income band? $150k-250k, with 383 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 398 $45,220,000 $113,618 $0 5.29%
30-36% 318 $35,800,000 $112,579 $0 5.40%
<20% 239 $26,615,000 $111,360 $0 5.17%
44% 65 $7,775,000 $119,615 $0 5.46%
45% 60 $8,530,000 $142,167 $0 5.62%
49% 57 $8,875,000 $155,702 $0 5.37%
37% 57 $7,025,000 $123,246 $0 5.27%
39% 55 $5,765,000 $104,818 $0 5.52%
36% 54 $6,160,000 $114,074 $0 5.42%
47% 51 $5,815,000 $114,020 $0 5.36%
50-60% 49 $5,515,000 $112,551 $0 5.93%
48% 47 $5,545,000 $117,979 $0 5.50%
46% 46 $5,830,000 $126,739 $0 5.58%
41% 45 $4,445,000 $98,778 $0 5.82%
43% 44 $5,700,000 $129,545 $0 5.58%
38% 43 $4,645,000 $108,023 $0 5.30%
42% 42 $4,320,000 $102,857 $0 5.50%
40% 42 $5,620,000 $133,810 $0 5.23%
>60% 3 $235,000 $78,333 $0 6.62%

Credit Union Of Texas lent most frequently to those with DTI ratios of 20-30%, with 398 originations. The next most common DTI ratio? 30-36%, with 318 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,047 $122,275,000 $116,786 $0 5.36%
Black 334 $31,020,000 $92,874 $0 5.74%
Not provided 158 $18,700,000 $118,354 $0 5.41%
Asian Indian 73 $11,225,000 $153,767 $0 4.83%
Asian 39 $6,915,000 $177,308 $0 4.56%
Chinese 12 $2,440,000 $203,333 $0 4.61%
American Indian 16 $1,480,000 $92,500 $0 5.63%
Filipino 6 $1,450,000 $241,667 $0 5.06%
Not applicable 4 $1,080,000 $270,000 $0 4.59%
Vietnamese 7 $975,000 $139,286 $0 4.73%
Other Asian 10 $900,000 $90,000 $0 5.44%
Korean 4 $770,000 $192,500 $0 4.65%
Native Hawaiian 5 $365,000 $73,000 $0 5.60%
Native Hawiian 1 $45,000 $45,000 $0 7.45%

Approval Rates

Total approvals of all applications
82.32%

Credit Union Of Texas has a below average approval rate.

Pick Rate

Approvals leading to origination
83.48%

Credit Union Of Texas has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,716 $199,640,000 $116,340

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,716 $199,640,000 $116,340

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 670 $74,910,000 $111,806 $0 5.32%
40-60% 226 $35,980,000 $159,204 $0 5.18%
60-80% 188 $39,000,000 $207,447 $0 5.06%
80-100% 50 $11,180,000 $223,600 $0 4.83%
Under 20% 582 $38,570,000 $66,271 $0 5.70%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Credit Union Mortgage Association, Inc. Conventional home mortgage Trouble during payment process 1 100.0%