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 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.
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Originations
3Origination Dollar Volume (All Markets)
$485,000Top 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) | 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 |