Mobility Credit Union Mortgage Rates, Fees & Info
Irving, TXLEI: 5493000321W4GKLZ1Y10
Tax ID: 75-1248359
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Mortgage Data
Review & Overview
Mobility Credit Union is a smaller credit union specializing in Home Purchase loans. Mobility Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Houston, Austin, San Antonio, and Tyler among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Mobility Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Mobility Credit Union is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.99% | 12/17/24 |
| 30 Year Conventional Refi | 6.05% | 12/17/24 |
| 30 Year Cash-out Refi | 6.66% | 12/17/24 |
| 15 Year Conventional Purchase | 5.77% | 12/17/24 |
| 15 Year Conventional Refi | 5.68% | 12/17/24 |
| 15 Year Cash-out Refi | 5.68% | 12/17/24 |
| 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. | ||
Mobility Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Mobility Credit Union. 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
217Origination Dollar Volume (All Markets)
$37,315,000Top 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) | 162 | $24,840,000 | $153,333 | $5,035 | 2.86% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 19 | $5,275,000 | $277,632 | $6,255 | 3.56% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 20 | $4,250,000 | $212,500 | $4,227 | 2.75% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 7 | $1,625,000 | $232,143 | $4,850 | 3.00% |
| TYLER, TX (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $4,490 | 2.94% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $210,000 | $105,000 | $3,920 | 2.75% |
| Granbury, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,401 | 3.25% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Athens, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,197 | 2.50% |
| Mineral Wells, TX (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against MOBILITY Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 217 | $37,315,000 | $171,959 | $4,976 | 2.94% |
For 2021, Mobility Credit Union's most frequently originated type of loan was Conventional, with 217 originations.
Loan Reason
For 2021, Mobility Credit Union's most frequently cited loan purpose was Home Purchase, with 151 originations. The 2nd most popular reason was Refi, with 36 originations.
Loan Duration/Length
For 2021, Mobility Credit Union's most frequently cited loan duration was Other, with 181 originations. The 2nd most popular length was 30 Year, with 18 originations.
Origination Fees/Closing Costs
Mobility Credit Union's average total fees were $5,676, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 23 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 22 | $5,940,000 | $270,000 |
| 3-4% | 6 | $1,570,000 | $261,667 |
| <2.5% | 5 | $1,135,000 | $227,000 |
| 4-5% | 1 | $105,000 | $105,000 |
During 2021, Mobility Credit Union's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 2.5-3%, with 22 originations.
Loan Sizing
2021 saw Mobility Credit Union place emphasis on $100k-200k loans with 80 originations, totaling $11,590,000 in origination value.
Applicant Income
Mobility Credit Union lent most frequently to those with incomes in the $250k+ range, with 89 originations. The second most popular income band? $150k-250k, with 87 originations.
Applicant Debt to Income Ratio
Mobility Credit Union lent most frequently to those with DTI ratios of Exempt%, with 183 originations. The next most common DTI ratio? 20-30%, with 9 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.99%
Mobility Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination91.24%
Mobility Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 183 | $28,615,000 | $156,366 |
| NA | 34 | $8,700,000 | $255,882 |