Credit Union Of Texas Mortgage Rates, Fees & Info
Plano, TXLEI: 254900Z5QRSHW4Y8CR51
Tax ID: 75-0225045
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
30 Year Conventional Purchase | 7.53% | 12/16/24 |
30 Year Conventional Refi | 6.27% | 12/16/24 |
15 Year Conventional Purchase | 3.89% | 12/16/24 |
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
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Credit Union Of Texas. 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
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 |