Bp Federal Credit Union Mortgage Rates, Fees & Info

HOUSTON, TX

LEI: 54930076PACNHY6U9F09

Tax ID: 74-1110193

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Bp Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Bp Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Heber, Boston, College Station, and New York among others. We have data for 11 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.

    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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    Originations

    49

    Origination Dollar Volume (All Markets)

    $11,465,000

    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) 38 $7,040,000 $185,263 $0 4.98%
    Heber, UT (FHA|USDA|VA) 1 $1,965,000 $1,965,000 $0 4.38%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $885,000 $885,000 $1,457 4.38%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $335,000 $335,000 $0 587.50%
    SANTA FE, NM (FHA|USDA|VA) 1 $265,000 $265,000 $0 2.13%
    JACKSON, MS (FHA|USDA|VA) 1 $175,000 $175,000 $0 3.13%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 5.75%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $130,000 $65,000 $0 5.93%
    BATON ROUGE, LA (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.50%
    Outside of Metro Areas 1 $35,000 $35,000 $0 7.99%
    Bp Federal Credit Union's top markets include Houston, Heber, Boston, College Station, and New York among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 49 $11,465,000 $233,980 $1,457 17.10%

    For 2022, Bp Federal Credit Union's most frequently originated type of loan was Conventional, with 49 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 17 $2,025,000 $119,118 $0 5.45%
    Refi 14 $2,370,000 $169,286 $0 4.32%
    Home Purchase 13 $6,645,000 $511,154 $1,457 53.38%
    Home Improvement 5 $425,000 $85,000 $0 5.50%

    For 2022, Bp Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 17 originations. The 2nd most popular reason was Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 49 $11,465,000 $233,980 $1,457 17.10%

    For 2022, Bp Federal Credit Union's most frequently cited loan duration was Other, with 49 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 22 $1,630,000 $74,091
    $2k-3k 9 $1,495,000 $166,111
    $5k+ 8 $2,840,000 $355,000
    $1k-2k 3 $565,000 $188,333
    $3k-4k 3 $1,235,000 $411,667
    $4k-5k 3 $2,815,000 $938,333

    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 22 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 19 $5,835,000 $307,105
    5-6% 16 $2,920,000 $182,500
    6-7% 4 $220,000 $55,000
    3-4% 4 $1,190,000 $297,500
    <2.5% 2 $370,000 $185,000
    2.5-3% 1 $185,000 $185,000
    7-8% 1 $35,000 $35,000
    Over 8% 1 $335,000 $335,000

    During 2022, Bp Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 19 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 19 $1,135,000 $59,737 $0 5.52%
    $100k-200k 13 $1,885,000 $145,000 $0 4.57%
    $200k-400k 11 $3,175,000 $288,636 $0 62.98%
    $400k-600k 3 $1,615,000 $538,333 $0 4.29%
    $600k-1MM 2 $1,690,000 $845,000 $1,457 4.81%
    $1MM+ 1 $1,965,000 $1,965,000 $0 4.38%

    2022 saw Bp Federal Credit Union place emphasis on $100,000 or less loans with 19 originations, totaling $1,135,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 21 $4,135,000 $196,905 $0 5.22%
    $250k+ 12 $4,560,000 $380,000 $1,457 4.94%
    $100k-150k 7 $1,445,000 $206,429 $0 4.88%
    $50k-75k 5 $525,000 $105,000 $0 3.98%
    $75k-100k 3 $615,000 $205,000 $0 199.53%
    $50k or less 1 $185,000 $185,000 $0 4.50%

    Bp Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 21 originations. The second most popular income band? $250k+, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 11 $1,065,000 $96,818 $0 5.05%
    <20% 9 $1,495,000 $166,111 $0 5.16%
    50-60% 5 $855,000 $171,000 $0 3.23%
    30-36% 4 $1,760,000 $440,000 $1,457 4.88%
    38% 4 $310,000 $77,500 $0 5.51%
    47% 4 $2,870,000 $717,500 $0 4.88%
    42% 3 $305,000 $101,667 $0 5.97%
    36% 2 $620,000 $310,000 $0 5.88%
    45% 2 $640,000 $320,000 $0 296.31%
    37% 1 $105,000 $105,000 $0 5.25%
    41% 1 $35,000 $35,000 $0 5.75%
    48% 1 $805,000 $805,000 $0 5.25%
    49% 1 $545,000 $545,000 $0 4.38%
    43% 1 $55,000 $55,000 $0 4.88%

    Bp Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? <20%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 39 $9,775,000 $250,641 $1,457 20.27%
    Black 6 $1,280,000 $213,333 $0 4.82%
    Asian Indian 3 $315,000 $105,000 $0 4.96%
    Vietnamese 1 $95,000 $95,000 $0 7.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 49 $11,465,000 $233,980

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    49 $11,465,000 $233,980

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $560,000 $93,333 $0 5.27%
    40-60% 11 $2,315,000 $210,455 $0 4.45%
    60-80% 11 $4,695,000 $426,818 $1,457 57.73%
    80-100% 5 $2,915,000 $583,000 $0 4.19%
    Under 20% 16 $980,000 $61,250 $0 5.55%