Concho Educators Federal Credit Union Mortgage Rates, Fees & Info

San Angelo, TX

LEI: 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.

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Originations

19

Origination Dollar Volume (All Markets)

$1,355,000

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
SAN ANGELO, TX (FHA|USDA|VA) 15 $1,195,000 $79,667 $1,245 3.99%
Outside of Metro Areas 4 $160,000 $40,000 $949 3.75%
Concho Educators Federal Credit Union's top markets include and San Angelo among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 19 $1,355,000 $71,316 $1,183 3.94%

    For 2021, Concho Educators Federal Credit Union's most frequently originated type of loan was Conventional, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 18 $1,220,000 $67,778 $1,035 4.02%
    Home Purchase 1 $135,000 $135,000 $3,851 2.50%

    For 2021, Concho Educators Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 18 originations. The 2nd most popular reason was Home Purchase, with 1 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 6 $370,000 $61,667 $1,338 3.75%
    15 Year 5 $365,000 $73,000 $1,423 4.18%
    20 Year 4 $480,000 $120,000 $803 4.38%
    5 Year 4 $140,000 $35,000 $1,031 3.50%

    For 2021, Concho Educators Federal Credit Union's most frequently cited loan duration was 10 Year, with 6 originations. The 2nd most popular length was 15 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1 $125,000 $125,000
    $2k-3k 1 $135,000 $135,000

    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-2k bucket, with 1 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 10 $660,000 $66,000
    4-5% 7 $505,000 $72,143
    <2.5% 1 $135,000 $135,000
    2.5-3% 1 $55,000 $55,000

    During 2021, Concho Educators Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 10 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 14 $670,000 $47,857 $905 3.96%
    $100k-200k 4 $470,000 $117,500 $2,262 3.84%
    $200k-400k 1 $215,000 $215,000 $765 4.00%

    2021 saw Concho Educators Federal Credit Union place emphasis on $100,000 or less loans with 14 originations, totaling $670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 7 $435,000 $62,143 $812 4.21%
    $50k or less 4 $140,000 $35,000 $847 3.94%
    $75k-100k 4 $310,000 $77,500 $1,714 3.75%
    $100k-150k 2 $180,000 $90,000 $2,509 3.31%
    $150k-250k 2 $290,000 $145,000 $765 4.00%

    Concho Educators Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $50k or less, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 5 $295,000 $59,000 $983 3.90%
    20-30% 3 $305,000 $101,667 $867 4.08%
    41% 3 $225,000 $75,000 $815 4.25%
    30-36% 3 $215,000 $71,667 $1,809 3.96%
    42% 1 $25,000 $25,000 $765 3.75%
    45% 1 $135,000 $135,000 $3,851 2.50%
    36% 1 $35,000 $35,000 $941 4.00%
    38% 1 $45,000 $45,000 $765 4.25%
    39% 1 $75,000 $75,000 $765 4.00%

    Concho Educators Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 5 originations. The next most common DTI ratio? 20-30%, with 3 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 17 $1,165,000 $68,529 $1,037 4.01%
    Not provided 1 $135,000 $135,000 $3,851 2.50%
    Black 1 $55,000 $55,000 $995 4.25%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 19 $1,355,000 $71,316

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    19 $1,355,000 $71,316

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $160,000 $40,000 $1,031 3.63%
    40-60% 5 $355,000 $71,000 $1,453 3.85%
    60-80% 4 $250,000 $62,500 $1,511 4.03%
    80-100% 4 $500,000 $125,000 $803 4.25%
    Under 20% 2 $90,000 $45,000 $918 4.00%