Relyon Credit Union Mortgage Rates, Fees & Info
Dallas, TXLEI: 5493001F41HG4FRUKK25
Tax ID: 75-0926100
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Mortgage Data
Review & Overview
Relyon Credit Union is a smaller credit union specializing in Cash Out Refi loans. Relyon Credit Union has a high proportion of conventional loans. Their top two markets are Dallas and Athens .Relyon Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Relyon 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 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 3/25/24 |
| 30 Year Conventional Refi | 6.27% | 3/25/24 |
| 30 Year Cash-out Refi | 7.35% | 3/25/24 |
| 15 Year Conventional Refi | 5.68% | 3/25/24 |
| 15 Year Cash-out Refi | 5.68% | 3/25/24 |
| 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. | ||
Relyon Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
3Origination Dollar Volume (All Markets)
$485,000Relative Rate
Relyon Credit Union's average 30 year fixed mortgage rate was
5.81%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 1.05%.
Relative Fees (Closing Costs)
Relyon Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,548.
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 $4,750.
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 | $370,000 | $185,000 | $5,137 | 4.13% |
| Athens, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,412 | 6.13% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 3 | $485,000 | $161,667 | $5,229 | 4.79% |
For 2022, Relyon Credit Union's most frequently originated type of loan was Conventional, with 3 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 3 | $485,000 | $161,667 | $5,229 | 4.79% |
For 2022, Relyon Credit Union's most frequently cited loan purpose was Cash Out Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 2 | $340,000 | $170,000 | $5,548 | 5.81% |
| 15 Year | 1 | $145,000 | $145,000 | $4,590 | 2.75% |
For 2022, Relyon Credit Union's most frequently cited loan duration was 30 Year, with 2 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 2 | $260,000 | $130,000 |
| $2k-3k | 1 | $225,000 | $225,000 |
Relyon Credit Union's average total fees were $5,548, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 1 | $145,000 | $145,000 |
| 5-6% | 1 | $225,000 | $225,000 |
| 6-7% | 1 | $115,000 | $115,000 |
During 2022, Relyon Credit Union's average interest rate for loans was 5.81%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 2 | $260,000 | $130,000 | $5,001 | 4.44% |
| $200k-400k | 1 | $225,000 | $225,000 | $5,683 | 5.50% |
2022 saw Relyon Credit Union place emphasis on $100k-200k loans with 2 originations, totaling $260,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 2 | $260,000 | $130,000 | $5,001 | 4.44% |
| $150k-250k | 1 | $225,000 | $225,000 | $5,683 | 5.50% |
Relyon Credit Union lent most frequently to those with incomes in the $50k-75k range, with 2 originations. The second most popular income band? $150k-250k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 41% | 2 | $340,000 | $170,000 | $5,548 | 5.81% |
| 20-30% | 1 | $145,000 | $145,000 | $4,590 | 2.75% |
Relyon Credit Union lent most frequently to those with DTI ratios of 41%, with 2 originations. The next most common DTI ratio? 20-30%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 3 | $485,000 | $161,667 | $5,229 | 4.79% |
Approval Rates
Total approvals of all applications58.82%
Relyon Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination33.33%
Relyon Credit Union 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 |
|---|---|---|---|
| NA | 3 | $485,000 | $161,667 |