Bp Federal Credit Union Mortgage Rates, Fees & Info
HOUSTON, TXLEI: 54930076PACNHY6U9F09
Tax ID: 74-1110193
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Bp Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Bp Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Chicago, Washington, Seattle, and Provo among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Bp Federal Credit Union has an above average approval rate when compared to the average across all lenders.
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Originations
46Origination Dollar Volume (All Markets)
$10,220,000Top 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) | 40 | $8,270,000 | $206,750 | $0 | 6.83% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 5.88% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $0 | 6.25% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 7.50% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 6.50% |
| TULSA, OK (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.50% |
| Outside of Metro Areas | 1 | $75,000 | $75,000 | $0 | 6.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 46 | $10,220,000 | $222,174 | $0 | 6.79% |
For 2023, Bp Federal Credit Union's most frequently originated type of loan was Conventional, with 46 originations.
Loan Reason
For 2023, Bp Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 44 | $10,060,000 | $228,636 | $0 | 6.75% |
| 15 Year | 1 | $95,000 | $95,000 | $0 | 7.15% |
| 20 Year | 1 | $65,000 | $65,000 | $0 | 7.99% |
For 2023, Bp Federal Credit Union's most frequently cited loan duration was Other, with 44 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
Bp Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 17 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 21 | $4,815,000 | $229,286 |
| 7-8% | 16 | $2,630,000 | $164,375 |
| 5-6% | 8 | $2,540,000 | $317,500 |
| 4-5% | 1 | $235,000 | $235,000 |
During 2023, Bp Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 21 originations.
Loan Sizing
2023 saw Bp Federal Credit Union place emphasis on $100,000 or less loans with 15 originations, totaling $1,045,000 in origination value.
Applicant Income
Bp Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 17 originations. The second most popular income band? $250k+, with 14 originations.
Applicant Debt to Income Ratio
Bp Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 15 originations. The next most common DTI ratio? 20-30%, with 11 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Bp 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 46 | $10,220,000 | $222,174 |