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 and Refi loans. Concho Educators Federal Credit Union has a high proportion of conventional loans. Their top two markets are San Angelo and Waco .Concho Educators Federal 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. Concho Educators Federal 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
25Origination Dollar Volume (All Markets)
$1,505,000Top 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) | 24 | $1,430,000 | $59,583 | $765 | 4.47% |
| WACO, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,873 | 4.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 25 | $1,505,000 | $60,200 | $809 | 4.48% |
For 2018, Concho Educators Federal Credit Union's most frequently originated type of loan was Conventional, with 25 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 19 | $1,025,000 | $53,947 | $765 | 4.46% |
| Refi | 5 | $405,000 | $81,000 | $765 | 4.50% |
| Home Purchase | 1 | $75,000 | $75,000 | $1,873 | 4.75% |
For 2018, Concho Educators Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 19 originations. The 2nd most popular reason was Refi, with 5 originations.
Loan Duration/Length
For 2018, Concho Educators Federal Credit Union's most frequently cited loan duration was 10 Year, with 10 originations. The 2nd most popular length was 5 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $75,000 | $75,000 |
Concho Educators Federal Credit Union's average total fees were $1,873, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 24 | $1,460,000 | $60,833 |
| 3-4% | 1 | $45,000 | $45,000 |
During 2018, Concho Educators Federal Credit Union's average interest rate for loans was 4.75%, while their most frequently originated rate bucket for loans was 4-5%, with 24 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 22 | $1,080,000 | $49,091 | $815 | 4.43% |
| $100k-200k | 3 | $425,000 | $141,667 | $765 | 4.83% |
2018 saw Concho Educators Federal Credit Union place emphasis on $100,000 or less loans with 22 originations, totaling $1,080,000 in origination value.
Applicant Income
Concho Educators Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 8 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
Concho Educators Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? 30-36%, with 4 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 25 | $1,505,000 | $60,200 | $809 | 4.48% |
Approval Rates
Total approvals of all applications96.30%
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 origination96.00%
Concho Educators Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 25 | $1,505,000 | $60,200 |