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 loans. Investex Credit Union has a high proportion of conventional loans. Their top (well, only) market is Houston.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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.41% | 11/1/24 |
| 30 Year Conventional Refi | 6.27% | 11/1/24 |
| 30 Year Cash-out Refi | 6.27% | 11/1/24 |
| 30 Year FHA Purchase | 6.27% | 11/1/24 |
| 30 Year FHA Refi | 7.55% | 11/1/24 |
| 15 Year Conventional Purchase | 5.68% | 11/1/24 |
| 15 Year Conventional Refi | 5.94% | 11/1/24 |
| 15 Year Cash-out Refi | 5.94% | 11/1/24 |
| 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
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This is not an official calculator from Investex Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2Origination Dollar Volume (All Markets)
$240,000Top 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) | 2 | $240,000 | $120,000 | $5,886 | 5.00% |
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 | 2 | $240,000 | $120,000 | $5,886 | 5.00% |
For 2019, Investex Credit Union's most frequently originated type of loan was Conventional, with 2 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 2 | $240,000 | $120,000 | $5,886 | 5.00% |
For 2019, Investex Credit Union's most frequently cited loan purpose was Home Purchase, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 2 | $240,000 | $120,000 | $5,886 | 5.00% |
For 2019, Investex Credit Union's most frequently cited loan duration was 30 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $3k-4k | 1 | $175,000 | $175,000 |
Investex Credit Union's average total fees were $5,886, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 1 | $175,000 | $175,000 |
| 5-6% | 1 | $65,000 | $65,000 |
During 2019, Investex Credit Union's average interest rate for loans was 5.00%, while their most frequently originated rate bucket for loans was 4-5%, with 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 1 | $65,000 | $65,000 | $0 | 5.75% |
| $100k-200k | 1 | $175,000 | $175,000 | $5,886 | 4.25% |
2019 saw Investex Credit Union place emphasis on $100,000 or less loans with 1 originations, totaling $65,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 1 | $175,000 | $175,000 | $5,886 | 4.25% |
| $50k-75k | 1 | $65,000 | $65,000 | $0 | 5.75% |
Investex Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1 originations. The second most popular income band? $50k-75k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 40% | 1 | $175,000 | $175,000 | $5,886 | 4.25% |
| 48% | 1 | $65,000 | $65,000 | $0 | 5.75% |
Investex Credit Union lent most frequently to those with DTI ratios of 40%, with 1 originations. The next most common DTI ratio? 48%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1 | $175,000 | $175,000 | $5,886 | 4.25% |
| Asian | 1 | $65,000 | $65,000 | $0 | 5.75% |
Approval Rates
Total approvals of all applications50.00%
Investex Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination0.00%
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 | 2 | $240,000 | $120,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 2 | $240,000 | $120,000 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 60-80% | 1 | $65,000 | $65,000 | $0 | 5.75% |
| 80-100% | 1 | $175,000 | $175,000 | $5,886 | 4.25% |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| INVESTORS BANK | Conventional home mortgage | Trouble during payment process | 4 | 40.0% |
| INVESTORS BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 10.0% |
| INVESTORS BANK | Conventional home mortgage | Closing on a mortgage | 1 | 10.0% |
| INVESTORS BANK | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 10.0% |
| INVESTORS BANK | Other type of mortgage | Trouble during payment process | 2 | 20.0% |
| INVESTORS BANK | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 10.0% |