Concho Educators Federal Credit Union Mortgage Rates, Fees & Info
San Angelo, TXLEI: 5493004TN1RD20MW1Y08
Tax ID: 75-0803279
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Mortgage Data
Review & Overview
Concho Educators Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Concho Educators Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is San Angelo.Concho Educators 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.
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Originations
9Origination Dollar Volume (All Markets)
$1,025,000Top 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 |
|---|---|---|---|---|---|
| SAN ANGELO, TX (FHA|USDA|VA) | 8 | $960,000 | $120,000 | $828 | 5.88% |
| Outside of Metro Areas | 1 | $65,000 | $65,000 | $765 | 6.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 9 | $1,025,000 | $113,889 | $821 | 5.89% |
For 2023, Concho Educators Federal Credit Union's most frequently originated type of loan was Conventional, with 9 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 9 | $1,025,000 | $113,889 | $821 | 5.89% |
For 2023, Concho Educators Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20 Year | 5 | $525,000 | $105,000 | $765 | 6.00% |
| 15 Year | 3 | $445,000 | $148,333 | $932 | 5.75% |
| 10 Year | 1 | $55,000 | $55,000 | $765 | 5.75% |
For 2023, Concho Educators Federal Credit Union's most frequently cited loan duration was 20 Year, with 5 originations. The 2nd most popular length was 15 Year, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 9 | $1,025,000 | $113,889 |
During 2023, Concho Educators Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 9 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 7 | $905,000 | $129,286 | $836 | 5.89% |
| $100,000 or less | 2 | $120,000 | $60,000 | $765 | 5.88% |
2023 saw Concho Educators Federal Credit Union place emphasis on $100k-200k loans with 7 originations, totaling $905,000 in origination value.
Applicant Income
Concho Educators Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 4 originations. The second most popular income band? $150k-250k, with 3 originations.
Applicant Debt to Income Ratio
Concho Educators Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 3 originations. The next most common DTI ratio? 42%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 9 | $1,025,000 | $113,889 | $821 | 5.89% |
Approval Rates
Total approvals of all applications100.00%
Concho Educators Federal 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 origination88.89%
Concho Educators Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 9 | $1,025,000 | $113,889 |