Energy Capital Credit Union Mortgage Rates, Fees & Info
Houston, TXLEI: 5493007X0QZ825CCEZ27
Tax ID: 74-1110016
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Energy Capital Credit Union is a smaller credit union specializing in Other, Home Improvement, and Home Purchase loans. Energy Capital Credit Union has a high proportion of conventional loans. Their top (well, only) market is Houston.Energy Capital 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.40% | 11/17/24 |
| 15 Year Conventional Purchase | 6.62% | 11/17/24 |
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 11/17/24 |
| 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. | ||
Energy Capital 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
42Origination Dollar Volume (All Markets)
$4,120,000Top 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 | $3,950,000 | $98,750 | $1,756 | 7.69% |
| Outside of Metro Areas | 2 | $170,000 | $85,000 | $448 | 6.54% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 42 | $4,120,000 | $98,095 | $1,720 | 7.63% |
For 2023, Energy Capital Credit Union's most frequently originated type of loan was Conventional, with 42 originations.
Loan Reason
For 2023, Energy Capital Credit Union's most frequently cited loan purpose was Other, with 22 originations. The 2nd most popular reason was Home Improvement, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 37 | $3,855,000 | $104,189 | $1,816 | 7.70% |
| 10 Year | 3 | $215,000 | $71,667 | $1,625 | 7.04% |
| 5 Year | 2 | $50,000 | $25,000 | $361 | 7.29% |
For 2023, Energy Capital Credit Union's most frequently cited loan duration was 15 Year, with 37 originations. The 2nd most popular length was 10 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 31 | $2,155,000 | $69,516 |
| $1k-2k | 4 | $590,000 | $147,500 |
| $5k+ | 1 | $515,000 | $515,000 |
Energy Capital 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 31 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 16 | $1,590,000 | $99,375 |
| 7-8% | 15 | $1,435,000 | $95,667 |
| 6-7% | 11 | $1,095,000 | $99,545 |
During 2023, Energy Capital Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 16 originations.
Loan Sizing
2023 saw Energy Capital Credit Union place emphasis on $100,000 or less loans with 33 originations, totaling $2,255,000 in origination value.
Applicant Income
Energy Capital Credit Union lent most frequently to those with incomes in the $250k+ range, with 13 originations. The second most popular income band? $100k-150k, with 9 originations.
Applicant Debt to Income Ratio
Energy Capital Credit Union lent most frequently to those with DTI ratios of <20%, with 12 originations. The next most common DTI ratio? 20-30%, with 7 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications73.00%
Energy Capital Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination26.19%
Energy Capital 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 | 42 | $4,120,000 | $98,095 |