Members Choice Credit Union Mortgage Rates, Fees & Info
Houston, TXLEI: 5493008EOM1VM8BBK206
Tax ID: 74-1886524
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Mortgage Data
Review & Overview
Members Choice Credit Union is a smaller credit union specializing in Other loans. Members Choice Credit Union has a high proportion of conventional loans. Their top (well, only) market is Houston.Members Choice 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.80% | 4/28/24 |
| 30 Year Conventional Refi | 3.71% | 4/28/24 |
| 30 Year Cash-out Refi | 5.50% | 4/28/24 |
| 15 Year Conventional Purchase | 7.44% | 4/28/24 |
| 15 Year Conventional Refi | 4.65% | 4/28/24 |
| 15 Year Cash-out Refi | 4.65% | 4/28/24 |
| 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. | ||
Members Choice Credit Union Mortgage Calculator
Your Estimates
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This is not an official calculator from Members Choice 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
1Origination Dollar Volume (All Markets)
$95,000Top 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) | 1 | $95,000 | $95,000 | $0 | 2.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against MEMBERS CHOICE Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 291
Similarity Rank: 360
Similarity Rank: 456
Similarity Rank: 678
Similarity Rank: 729
Similarity Rank: 900
Similarity Rank: 980
Similarity Rank: 1840
Similarity Rank: 1848
Similarity Rank: 1862
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1 | $95,000 | $95,000 | $0 | 2.99% |
For 2018, Members Choice Credit Union's most frequently originated type of loan was Conventional, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 1 | $95,000 | $95,000 | $0 | 2.99% |
For 2018, Members Choice Credit Union's most frequently cited loan purpose was Other, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 1 | $95,000 | $95,000 | $0 | 2.99% |
For 2018, Members Choice Credit Union's most frequently cited loan duration was 15 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $95,000 | $95,000 |
Members Choice 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 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 1 | $95,000 | $95,000 |
During 2018, Members Choice Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 1 | $95,000 | $95,000 | $0 | 2.99% |
2018 saw Members Choice Credit Union place emphasis on $100,000 or less loans with 1 originations, totaling $95,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 1 | $95,000 | $95,000 | $0 | 2.99% |
Members Choice Credit Union lent most frequently to those with incomes in the $50k-75k range, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30-36% | 1 | $95,000 | $95,000 | $0 | 2.99% |
Members Choice Credit Union lent most frequently to those with DTI ratios of 30-36%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1 | $95,000 | $95,000 | $0 | 2.99% |
Approval Rates
Total approvals of all applications100.00%
Members Choice 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 | 1 | $95,000 | $95,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1 | $95,000 | $95,000 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 40-60% | 1 | $95,000 | $95,000 | $0 | 2.99% |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER FIRST MORTGAGE, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |