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 an above average pick rate when compared to similar lenders. They typically have relatively high rates.
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Originations
23Origination Dollar Volume (All Markets)
$1,685,000Top 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) | 21 | $1,555,000 | $74,048 | $765 | 4.64% |
| Outside of Metro Areas | 2 | $130,000 | $65,000 | $765 | 4.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 23 | $1,685,000 | $73,261 | $765 | 4.65% |
For 2019, Concho Educators Federal Credit Union's most frequently originated type of loan was Conventional, with 23 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 22 | $1,570,000 | $71,364 | $765 | 4.63% |
| Refi | 1 | $115,000 | $115,000 | $0 | 5.25% |
For 2019, Concho Educators Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 22 originations. The 2nd most popular reason was Refi, with 1 originations.
Loan Duration/Length
For 2019, Concho Educators Federal Credit Union's most frequently cited loan duration was 15 Year, with 11 originations. The 2nd most popular length was 10 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 22 | $1,570,000 | $71,364 |
Concho Educators Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 22 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 22 | $1,570,000 | $71,364 |
| 5-6% | 1 | $115,000 | $115,000 |
During 2019, Concho Educators Federal Credit Union's average interest rate for loans was 5.25%, while their most frequently originated rate bucket for loans was 4-5%, with 22 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 16 | $790,000 | $49,375 | $765 | 4.58% |
| $100k-200k | 7 | $895,000 | $127,857 | $765 | 4.82% |
2019 saw Concho Educators Federal Credit Union place emphasis on $100,000 or less loans with 16 originations, totaling $790,000 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 5 originations.
Applicant Debt to Income Ratio
Concho Educators Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 6 originations. The next most common DTI ratio? 20-30%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 22 | $1,570,000 | $71,364 | $765 | 4.63% |
| Not provided | 1 | $115,000 | $115,000 | $0 | 5.25% |
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 origination95.65%
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 | 23 | $1,685,000 | $73,261 |