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. Their top two markets are Dallas and Sherman .Credit Union Of Texas has a below average approval rate when compared to the average across all lenders.
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% | 4/21/24 |
| 30 Year Conventional Purchase | 7.53% | 4/21/24 |
| 30 Year Conventional Refi | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 3.89% | 4/21/24 |
| 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
2Origination Dollar Volume (All Markets)
$100,000Top 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) | 1 | $75,000 | $75,000 | $0 | 4.95% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 6.70% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 2 | $100,000 | $50,000 | n/a | 5.83% |
For 2019, Credit Union Of Texas's most frequently originated type of loan was HELOC, with 2 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 2 | $100,000 | $50,000 | $0 | 5.83% |
For 2019, Credit Union Of Texas's most frequently cited loan purpose was Cash Out Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 10 Year | 1 | $75,000 | $75,000 | $0 | 4.95% |
| 5 Year | 1 | $25,000 | $25,000 | $0 | 6.70% |
For 2019, Credit Union Of Texas's most frequently cited loan duration was 10 Year, with 1 originations. The 2nd most popular length was 5 Year, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 1 | $75,000 | $75,000 |
| 6-7% | 1 | $25,000 | $25,000 |
During 2019, Credit Union Of Texas's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 2 | $100,000 | $50,000 | $0 | 5.83% |
2019 saw Credit Union Of Texas place emphasis on $100,000 or less loans with 2 originations, totaling $100,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 1 | $75,000 | $75,000 | $0 | 4.95% |
| $50k-75k | 1 | $25,000 | $25,000 | $0 | 6.70% |
Credit Union Of Texas lent most frequently to those with incomes in the $100k-150k range, with 1 originations. The second most popular income band? $50k-75k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| <20% | 2 | $100,000 | $50,000 | $0 | 5.83% |
Credit Union Of Texas lent most frequently to those with DTI ratios of <20%, with 2 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 2 | $100,000 | $50,000 | $0 | 5.83% |
Approval Rates
Total approvals of all applications22.22%
Credit Union Of Texas has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2 | $100,000 | $50,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 2 | $100,000 | $50,000 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Under 20% | 2 | $100,000 | $50,000 | $0 | 5.83% |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Credit Technologies, Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| Credit Technologies, Inc. | Conventional home mortgage | Improper use of your report | 1 | 33.3% |
| Credit Technologies, Inc. | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |