Investex Credit Union Mortgage Rates, Fees & Info

Humble, TX

LEI: 54930051L9BKHSHDSD90

Tax ID: 74-1325622

4.7 stars - Updated: 3/24/24 - out of 5 stars, based on 3 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Investex Credit Union is a smaller credit union specializing in Home Purchase loans. Investex Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top two markets are Houston and Kerrville .

Investex Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Investex Credit Union is typically an average 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.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.41% 3/24/24
30 Year Conventional Refi 6.27% 3/24/24
30 Year Cash-out Refi 6.27% 3/24/24
30 Year FHA Purchase 6.27% 3/24/24
30 Year FHA Refi 7.55% 3/24/24
15 Year Conventional Purchase 5.68% 3/24/24
15 Year Conventional Refi 5.94% 3/24/24
15 Year Cash-out Refi 5.94% 3/24/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Investex Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Investex Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

8

Origination Dollar Volume (All Markets)

$2,290,000

Relative Rate

Investex Credit Union's average 30 year fixed mortgage rate was 4.35%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.41%.

Relative Fees (Closing Costs)

Investex Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $8,094.

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 $4,750.

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) 7 $2,065,000 $295,000 $7,803 3.93%
Kerrville, TX (FHA|USDA|VA) 1 $225,000 $225,000 $6,070 4.25%
Investex Credit Union's top markets include Houston and Kerrville among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against INVESTEX CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 7 $2,225,000 $317,857 $7,848 3.75%
    FHA 1 $65,000 $65,000 $5,753 5.50%

    For 2022, Investex Credit Union's most frequently originated type of loan was Conventional, with 7 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 5 $1,755,000 $351,000 $8,563 4.13%
    Refi 2 $300,000 $150,000 $5,643 3.94%
    Cash Out Refi 1 $235,000 $235,000 $6,591 3.25%

    For 2022, Investex Credit Union's most frequently cited loan purpose was Home Purchase, with 5 originations. The 2nd most popular reason was Refi, with 2 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 6 $1,820,000 $303,333 $8,094 4.35%
    15 Year 2 $470,000 $235,000 $6,062 2.81%

    For 2022, Investex Credit Union's most frequently cited loan duration was 30 Year, with 6 originations. The 2nd most popular length was 15 Year, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 3 $695,000 $231,667
    $4k-5k 2 $620,000 $310,000
    $5k+ 2 $910,000 $455,000
    $1k-2k 1 $65,000 $65,000

    Investex Credit Union's average total fees were $8,094, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 3 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 4 $1,500,000 $375,000
    5-6% 2 $330,000 $165,000
    <2.5% 1 $235,000 $235,000
    4-5% 1 $225,000 $225,000

    During 2022, Investex Credit Union's average interest rate for loans was 4.35%, while their most frequently originated rate bucket for loans was 3-4%, with 4 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 5 $1,315,000 $263,000 $6,846 3.70%
    $400k-600k 2 $910,000 $455,000 $10,354 3.88%
    $100,000 or less 1 $65,000 $65,000 $5,753 5.50%

    2022 saw Investex Credit Union place emphasis on $200k-400k loans with 5 originations, totaling $1,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 3 $1,015,000 $338,333 $8,219 3.46%
    $100k-150k 2 $750,000 $375,000 $9,338 4.63%
    $50k-75k 2 $460,000 $230,000 $5,802 3.31%
    $50k or less 1 $65,000 $65,000 $5,753 5.50%

    Investex Credit Union lent most frequently to those with incomes in the $150k-250k range, with 3 originations. The second most popular income band? $100k-150k, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 3 $715,000 $238,333 $7,156 4.50%
    20-30% 1 $265,000 $265,000 $7,612 5.25%
    38% 1 $235,000 $235,000 $6,591 3.25%
    39% 1 $355,000 $355,000 $8,422 3.38%
    41% 1 $485,000 $485,000 $11,064 4.00%
    48% 1 $235,000 $235,000 $5,533 2.38%

    Investex Credit Union lent most frequently to those with DTI ratios of 30-36%, with 3 originations. The next most common DTI ratio? 20-30%, with 1 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4 $1,400,000 $350,000 $8,598 4.31%
    Not provided 2 $590,000 $295,000 $6,978 2.88%
    Black 2 $300,000 $150,000 $6,172 4.38%

    Approval Rates

    Total approvals of all applications
    78.95%

    Investex Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    -50.00%

    Investex 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 8 $2,290,000 $286,250

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    8 $2,290,000 $286,250

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $65,000 $65,000 $5,753 5.50%
    60-80% 4 $1,310,000 $327,500 $7,902 3.25%
    80-100% 3 $915,000 $305,000 $7,776 4.42%