Investex Credit Union Mortgage Rates, Fees & Info
Humble, TXLEI: 54930051L9BKHSHDSD90
Tax ID: 74-1325622
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Mortgage Data
Review & Overview
Investex Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Investex Credit Union has a high proportion of conventional loans. Their top two markets are Houston and Garden City .Investex Credit Union has a below 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 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.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.41% | 10/30/24 |
| 30 Year Conventional Refi | 6.27% | 10/30/24 |
| 30 Year Cash-out Refi | 6.27% | 10/30/24 |
| 30 Year FHA Purchase | 6.27% | 10/30/24 |
| 30 Year FHA Refi | 7.55% | 10/30/24 |
| 15 Year Conventional Purchase | 5.68% | 10/30/24 |
| 15 Year Conventional Refi | 5.94% | 10/30/24 |
| 15 Year Cash-out Refi | 5.94% | 10/30/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
8Origination Dollar Volume (All Markets)
$880,000Top 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 |
|---|---|---|---|---|---|
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 7 | $795,000 | $113,571 | $3,595 | 4.34% |
| Garden City, KS (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,080 | 3.50% |
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 | 8 | $880,000 | $110,000 | $3,530 | 4.23% |
For 2018, Investex Credit Union's most frequently originated type of loan was Conventional, with 8 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 5 | $585,000 | $117,000 | $3,191 | 4.65% |
| Refi | 2 | $190,000 | $95,000 | $3,690 | 3.38% |
| Cash Out Refi | 1 | $105,000 | $105,000 | $4,908 | 3.88% |
For 2018, 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 | 4 | $500,000 | $125,000 | $3,210 | 4.59% |
| 15 Year | 3 | $295,000 | $98,333 | $4,096 | 3.54% |
| 20 Year | 1 | $85,000 | $85,000 | $3,114 | 4.88% |
For 2018, Investex Credit Union's most frequently cited loan duration was 30 Year, with 4 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $2k-3k | 4 | $460,000 | $115,000 |
| $1k-2k | 3 | $295,000 | $98,333 |
| $<1k | 1 | $125,000 | $125,000 |
Investex Credit Union's average total fees were $3,210, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 5 | $585,000 | $117,000 |
| 3-4% | 3 | $295,000 | $98,333 |
During 2018, Investex Credit Union's average interest rate for loans was 4.59%, while their most frequently originated rate bucket for loans was 4-5%, with 5 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 6 | $710,000 | $118,333 | $3,675 | 4.25% |
| $100,000 or less | 2 | $170,000 | $85,000 | $3,097 | 4.19% |
2018 saw Investex Credit Union place emphasis on $100k-200k loans with 6 originations, totaling $710,000 in origination value.
Applicant Income
Investex Credit Union lent most frequently to those with incomes in the $100k-150k range, with 3 originations. The second most popular income band? $50k-75k, with 2 originations.
Applicant Debt to Income Ratio
Investex Credit Union lent most frequently to those with DTI ratios of 43%, with 2 originations. The next most common DTI ratio? 45%, with 2 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 7 | $775,000 | $110,714 | $3,420 | 4.38% |
| Black | 1 | $105,000 | $105,000 | $4,301 | 3.25% |
Approval Rates
Total approvals of all applications60.61%
Investex Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination-37.50%
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 | $880,000 | $110,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 8 | $880,000 | $110,000 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 40-60% | 1 | $105,000 | $105,000 | $4,908 | 3.88% |
| 60-80% | 3 | $295,000 | $98,333 | $3,648 | 3.88% |
| 80-100% | 4 | $480,000 | $120,000 | $3,098 | 4.59% |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| INVESTORS BANK | Conventional home mortgage | Trouble during payment process | 2 | 50.0% |
| INVESTORS BANK | FHA mortgage | Trouble during payment process | 1 | 25.0% |
| INVESTORS BANK | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 25.0% |