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.They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Dallas, Houston, Austin, San Antonio, and Longview among others. We have data for 40 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 high 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 relatively high 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% | 11/17/24 |
| 30 Year Conventional Purchase | 7.53% | 11/17/24 |
| 30 Year Conventional Refi | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 3.89% | 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. | ||
Credit Union Of Texas Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,868Origination Dollar Volume (All Markets)
$329,510,000Relative Rate
Credit Union Of Texas's average 30 year fixed mortgage rate was
7.63%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 1.15%.
Relative Fees (Closing Costs)
Credit Union Of Texas's average total fees/closing costs for a 30 year fixed rate
mortgage were $11,399.
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 $9,089.
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) | 2,410 | $276,130,000 | $114,577 | $0 | 10.17% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 137 | $16,255,000 | $118,650 | $0 | 10.23% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 62 | $9,460,000 | $152,581 | $0 | 9.96% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 36 | $4,420,000 | $122,778 | $0 | 9.78% |
| Outside of Metro Areas | 32 | $3,620,000 | $113,125 | $11,399 | 9.98% |
| LONGVIEW, TX (FHA|USDA|VA) | 37 | $2,845,000 | $76,892 | $0 | 10.58% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 26 | $2,230,000 | $85,769 | $0 | 10.69% |
| TYLER, TX (FHA|USDA|VA) | 18 | $2,060,000 | $114,444 | $0 | 10.34% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 16 | $1,700,000 | $106,250 | $0 | 10.51% |
| WACO, TX (FHA|USDA|VA) | 6 | $1,150,000 | $191,667 | $0 | 10.06% |
| EL PASO, TX (FHA|USDA|VA) | 11 | $1,015,000 | $92,273 | $0 | 10.35% |
| Athens, TX (FHA|USDA|VA) | 8 | $790,000 | $98,750 | $0 | 10.09% |
| Sulphur Springs, TX (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $0 | 8.25% |
| WICHITA FALLS, TX (FHA|USDA|VA) | 5 | $575,000 | $115,000 | $0 | 10.68% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $0 | 10.33% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 6 | $520,000 | $86,667 | $0 | 10.25% |
| Fredericksburg, TX (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $0 | 10.00% |
| LAREDO, TX (FHA|USDA|VA) | 4 | $460,000 | $115,000 | $0 | 9.80% |
| Gainesville, TX (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $0 | 9.72% |
| Jacksonville, TX (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 9.50% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 4 | $390,000 | $97,500 | $0 | 9.70% |
| Granbury, TX (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $0 | 9.98% |
| LUBBOCK, TX (FHA|USDA|VA) | 5 | $325,000 | $65,000 | $0 | 11.03% |
| MIDLAND, TX (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $0 | 9.50% |
| Paris, TX (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $0 | 10.80% |
| Huntsville, TX (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 10.85% |
| Mount Pleasant, TX (FHA|USDA|VA) | 3 | $245,000 | $81,667 | $0 | 9.83% |
| ABILENE, TX (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $0 | 11.50% |
| Corsicana, TX (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 9.98% |
| Brownwood, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 9.50% |
| ODESSA, TX (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $0 | 10.82% |
| TEXARKANA, TX-AR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 9.00% |
| Brenham, TX (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 10.10% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 11.38% |
| Bay City, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 11.25% |
| Bonham, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 10.85% |
| VICTORIA, TX (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 9.93% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 11.20% |
| Plainview, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 11.70% |
| Palestine, TX (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 11.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 2,864 | $327,940,000 | $114,504 | n/a | 10.18% |
| Conventional | 3 | $1,465,000 | $488,333 | $11,399 | 7.88% |
| FHA | 1 | $105,000 | $105,000 | $0 | 10.40% |
For 2023, Credit Union Of Texas's most frequently originated type of loan was HELOC, with 2,864 originations. Their 2nd most popular type was Conventional, with 3 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 2,867 | $329,465,000 | $114,916 | $11,399 | 10.18% |
| Other | 1 | $45,000 | $45,000 | $0 | 10.95% |
For 2023, Credit Union Of Texas's most frequently cited loan purpose was Cash Out Refi, with 2,867 originations. The 2nd most popular reason was Other, with 1 originations.
Loan Duration/Length
For 2023, Credit Union Of Texas's most frequently cited loan duration was Other, with 2,865 originations. The 2nd most popular length was 1 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 1 | $515,000 | $515,000 |
Credit Union Of Texas's average total fees were $11,399, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 2,670 | $295,730,000 | $110,760 |
| 7-8% | 180 | $28,890,000 | $160,500 |
| 6-7% | 16 | $4,750,000 | $296,875 |
| <2.5% | 1 | $125,000 | $125,000 |
During 2023, Credit Union Of Texas's average interest rate for loans was 7.63%, while their most frequently originated rate bucket for loans was Over 8%, with 2,670 originations.
Loan Sizing
2023 saw Credit Union Of Texas place emphasis on $100,000 or less loans with 1,611 originations, totaling $98,555,000 in origination value.
Applicant Income
Credit Union Of Texas lent most frequently to those with incomes in the $100k-150k range, with 800 originations. The second most popular income band? $150k-250k, with 692 originations.
Applicant Debt to Income Ratio
Credit Union Of Texas lent most frequently to those with DTI ratios of 20-30%, with 478 originations. The next most common DTI ratio? 30-36%, with 435 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications73.75%
Credit Union Of Texas has a below average approval rate.
Pick Rate
Approvals leading to origination66.98%
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 | 780 | $86,280,000 | $110,615 |
| NA | 2,088 | $243,230,000 | $116,489 |