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. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.41% | 10/31/24 |
| 30 Year Conventional Refi | 6.27% | 10/31/24 |
| 30 Year Cash-out Refi | 6.27% | 10/31/24 |
| 30 Year FHA Purchase | 6.27% | 10/31/24 |
| 30 Year FHA Refi | 7.55% | 10/31/24 |
| 15 Year Conventional Purchase | 5.68% | 10/31/24 |
| 15 Year Conventional Refi | 5.94% | 10/31/24 |
| 15 Year Cash-out Refi | 5.94% | 10/31/24 |
| 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
8Origination Dollar Volume (All Markets)
$2,290,000Top 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 | $2,065,000 | $295,000 | $7,803 | 3.93% |
| Kerrville, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,070 | 4.25% |
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
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
2022 saw Investex Credit Union place emphasis on $200k-400k loans with 5 originations, totaling $1,315,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications78.95%
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 |