Nizari Progressive Federal Credit Union Mortgage Rates, Fees & Info
SUGAR LAND, TXLEI: 54930047YAX7UHRKN043
Tax ID: 76-0286049
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Mortgage Data
Review & Overview
Nizari Progressive Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Nizari Progressive Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Dallas, Austin, Los Angeles, and San Francisco among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Nizari Progressive Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Nizari Progressive Federal Credit Union is typically a high 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.
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Originations
75Origination Dollar Volume (All Markets)
$42,745,000Awards
Nizari Progressive Federal Credit Union - 2023
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For 2023, less than of lenders were eligible for this award.
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Relative Rate
Nizari Progressive Federal Credit Union's average 30 year fixed mortgage rate was
6.48%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0%.
Relative Fees (Closing Costs)
Nizari Progressive Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $15,187.
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 $9,089.
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 |
|---|---|---|---|---|---|
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 47 | $25,055,000 | $533,085 | $15,218 | 6.53% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 12 | $7,400,000 | $616,667 | $14,735 | 6.41% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 9 | $5,325,000 | $591,667 | $14,610 | 6.22% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $19,959 | 6.13% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $855,000 | $855,000 | $16,453 | 6.25% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $17,799 | 6.63% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $13,155 | 5.75% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $9,792 | 7.38% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 7.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $8,725 | 5.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against Nizari Progressive Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 258
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 75 | $42,745,000 | $569,933 | $14,929 | 6.47% |
For 2023, Nizari Progressive Federal Credit Union's most frequently originated type of loan was Conventional, with 75 originations.
Loan Reason
For 2023, Nizari Progressive Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 63 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.
Loan Duration/Length
For 2023, Nizari Progressive Federal Credit Union's most frequently cited loan duration was 30 Year, with 68 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 50 | $35,090,000 | $701,800 |
| $2k-3k | 2 | $590,000 | $295,000 |
| $4k-5k | 2 | $450,000 | $225,000 |
Nizari Progressive Federal Credit Union's average total fees were $15,187, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 50 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 44 | $22,450,000 | $510,227 |
| 5-6% | 22 | $14,090,000 | $640,455 |
| 7-8% | 8 | $6,000,000 | $750,000 |
| 3-4% | 1 | $205,000 | $205,000 |
During 2023, Nizari Progressive Federal Credit Union's average interest rate for loans was 6.48%, while their most frequently originated rate bucket for loans was 6-7%, with 44 originations.
Loan Sizing
2023 saw Nizari Progressive Federal Credit Union place emphasis on $200k-400k loans with 28 originations, totaling $9,070,000 in origination value.
Applicant Income
Nizari Progressive Federal Credit Union lent most frequently to those with incomes in the $250k+ range, with 31 originations. The second most popular income band? $150k-250k, with 23 originations.
Applicant Debt to Income Ratio
Nizari Progressive Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 12 originations. The next most common DTI ratio? 20-30%, with 10 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.18%
Nizari Progressive Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination52.00%
Nizari Progressive Federal 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 | 75 | $42,745,000 | $569,933 |