Credit Union Of Texas Mortgage Rates, Fees & Info

Plano, TX

LEI: 254900Z5QRSHW4Y8CR51

Tax ID: 75-0225045

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Credit Union Of Texas is a smaller credit union specializing in Cash Out Refi and Refi loans. Credit Union Of Texas has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Waco, and Athens among others. We have data for 4 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 4/14/24
    30 Year Conventional Purchase 7.53% 4/14/24
    30 Year Conventional Refi 6.27% 4/14/24
    15 Year Conventional Purchase 3.89% 4/14/24
    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

    97

    Origination Dollar Volume (All Markets)

    $7,875,000

    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
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 94 $7,690,000 $81,809 $270 4.77%
    WACO, TX (FHA|USDA|VA) 1 $95,000 $95,000 $635 4.50%
    Outside of Metro Areas 1 $75,000 $75,000 $0 4.50%
    Athens, TX (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.00%
    Credit Union Of Texas's top markets include Dallas, Waco, and Athens among others.

    Their top states include:
  • Texas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 97 $7,875,000 $81,186 $276 4.75%

    For 2018, Credit Union Of Texas's most frequently originated type of loan was Conventional, with 97 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 62 $5,170,000 $83,387 $0 4.78%
    Home Improvement 19 $895,000 $47,105 $391 4.98%
    Refi 16 $1,810,000 $113,125 $468 4.39%

    For 2018, Credit Union Of Texas's most frequently cited loan purpose was Cash Out Refi, with 62 originations. The 2nd most popular reason was Home Improvement, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 24 $2,240,000 $93,333 $124 4.25%
    30 Year 23 $3,175,000 $138,043 $414 4.50%
    10 Year 21 $775,000 $36,905 $175 4.93%
    20 Year 17 $1,015,000 $59,706 $321 5.48%
    Other 8 $470,000 $58,750 $370 5.12%
    3 Year 2 $130,000 $65,000 $614 5.00%
    5 Year 2 $70,000 $35,000 $182 4.00%

    For 2018, Credit Union Of Texas's most frequently cited loan duration was 15 Year, with 24 originations. The 2nd most popular length was 30 Year, with 23 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 34 $1,310,000 $38,529
    3-4% 32 $2,590,000 $80,938
    4-5% 31 $3,975,000 $128,226

    During 2018, Credit Union Of Texas's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was 5-6%, with 34 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 68 $3,320,000 $48,824 $259 4.92%
    $100k-200k 22 $2,990,000 $135,909 $331 4.40%
    $200k-400k 7 $1,565,000 $223,571 $307 4.29%

    2018 saw Credit Union Of Texas place emphasis on $100,000 or less loans with 68 originations, totaling $3,320,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 22 $2,130,000 $96,818 $383 5.01%
    $75k-100k 21 $1,705,000 $81,190 $288 4.78%
    $50k-75k 20 $1,750,000 $87,500 $329 4.74%
    $50k or less 18 $1,030,000 $57,222 $179 4.18%
    $150k-250k 16 $1,260,000 $78,750 $182 5.03%

    Credit Union Of Texas lent most frequently to those with incomes in the $100k-150k range, with 22 originations. The second most popular income band? $75k-100k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 30 $2,170,000 $72,333 $354 4.84%
    20-30% 17 $1,455,000 $85,588 $129 4.62%
    <20% 9 $585,000 $65,000 $127 4.69%
    40% 7 $705,000 $100,714 $271 4.68%
    36% 7 $665,000 $95,000 $339 5.00%
    42% 3 $145,000 $48,333 $91 4.00%
    39% 3 $335,000 $111,667 $614 4.33%
    41% 3 $165,000 $55,000 $0 5.33%
    43% 3 $325,000 $108,333 $640 5.33%
    44% 3 $265,000 $88,333 $91 4.83%
    45% 3 $225,000 $75,000 $182 4.83%
    46% 3 $215,000 $71,667 $205 4.66%
    38% 2 $120,000 $60,000 $614 4.25%
    48% 2 $270,000 $135,000 $614 5.25%
    >60% 1 $125,000 $125,000 $614 4.50%
    49% 1 $105,000 $105,000 $0 4.00%

    Credit Union Of Texas lent most frequently to those with DTI ratios of 30-36%, with 30 originations. The next most common DTI ratio? 20-30%, with 17 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 74 $5,750,000 $77,703 $233 4.73%
    Black 14 $1,280,000 $91,429 $317 4.86%
    Not provided 8 $770,000 $96,250 $550 4.69%
    Asian 1 $75,000 $75,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    79.61%

    Credit Union Of Texas has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    75.26%

    Credit Union Of Texas has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $105,000 $105,000
    NA 96 $7,770,000 $80,938

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 97 $7,875,000 $81,186

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $1,040,000 $57,778 $182 4.73%
    40-60% 22 $2,120,000 $96,364 $123 4.22%
    60-80% 20 $2,790,000 $139,500 $517 4.41%
    80-100% 6 $950,000 $158,333 $409 4.42%
    Under 20% 31 $975,000 $31,452 $303 5.43%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Credit Union Mortgage Association, Inc. Conventional home mortgage Closing on a mortgage 1 50.0%
    Credit Union Mortgage Association, Inc. Conventional home mortgage Trouble during payment process 1 50.0%