Abilene Teachers Federal Credit Union Mortgage Rates, Fees & Info

Abilene, TX

LEI: 549300A8TEVE8WYT0T29

Tax ID: 75-0888860

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

    Abilene Teachers Federal Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Abilene Teachers Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Abilene, Dallas, Granbury, Lubbock, and Sweetwater among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Abilene Teachers Federal 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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    Originations

    139

    Origination Dollar Volume (All Markets)

    $10,815,000

    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
    ABILENE, TX (FHA|USDA|VA) 114 $7,730,000 $67,807 $1,099 8.05%
    Outside of Metro Areas 11 $1,015,000 $92,273 $1,536 7.55%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 5 $805,000 $161,000 $1,261 7.82%
    Granbury, TX (FHA|USDA|VA) 1 $405,000 $405,000 $2,073 7.10%
    LUBBOCK, TX (FHA|USDA|VA) 2 $330,000 $165,000 $1,185 7.83%
    Sweetwater, TX (FHA|USDA|VA) 3 $235,000 $78,333 $1,488 8.17%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $135,000 $135,000 $1,292 8.00%
    MIDLAND, TX (FHA|USDA|VA) 1 $95,000 $95,000 $1,114 7.60%
    SAN ANGELO, TX (FHA|USDA|VA) 1 $65,000 $65,000 $871 8.95%
    Abilene Teachers Federal Credit Union's top markets include Abilene, Dallas, Granbury, Lubbock, and Sweetwater among others.

    Their top states include:
  • Texas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 139 $10,815,000 $77,806 $1,156 8.00%

    For 2023, Abilene Teachers Federal Credit Union's most frequently originated type of loan was Conventional, with 139 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 57 $4,685,000 $82,193 $1,217 7.95%
    Cash Out Refi 57 $4,845,000 $85,000 $1,136 7.66%
    Other 25 $1,285,000 $51,400 $1,061 8.88%

    For 2023, Abilene Teachers Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 57 originations. The 2nd most popular reason was Cash Out Refi, with 57 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 88 $7,670,000 $87,159 $1,210 8.03%
    15 Year 33 $2,055,000 $62,273 $1,069 8.05%
    10 Year 18 $1,090,000 $60,556 $1,051 7.71%

    For 2023, Abilene Teachers Federal Credit Union's most frequently cited loan duration was 20 Year, with 88 originations. The 2nd most popular length was 15 Year, with 33 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 139 $10,815,000 $77,806

    Abilene Teachers 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 139 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 69 $4,115,000 $59,638
    7-8% 43 $4,125,000 $95,930
    6-7% 27 $2,575,000 $95,370

    During 2023, Abilene Teachers Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 69 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 116 $6,500,000 $56,034 $1,030 8.12%
    $100k-200k 16 $2,360,000 $147,500 $1,861 7.39%
    $200k-400k 6 $1,550,000 $258,333 $1,548 7.41%
    $400k-600k 1 $405,000 $405,000 $2,073 7.10%

    2023 saw Abilene Teachers Federal Credit Union place emphasis on $100,000 or less loans with 116 originations, totaling $6,500,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 31 $1,615,000 $52,097 $1,022 7.84%
    $100k-150k 30 $2,680,000 $89,333 $1,172 8.04%
    $50k-75k 28 $1,620,000 $57,857 $995 7.85%
    $150k-250k 27 $3,175,000 $117,593 $1,419 7.97%
    $75k-100k 22 $1,560,000 $70,909 $1,189 8.37%

    Abilene Teachers Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 31 originations. The second most popular income band? $100k-150k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 36 $2,910,000 $80,833 $1,107 7.97%
    30-36% 27 $1,825,000 $67,593 $1,131 8.23%
    <20% 14 $950,000 $67,857 $1,130 7.63%
    43% 9 $635,000 $70,556 $1,156 7.96%
    46% 7 $555,000 $79,286 $1,078 7.46%
    38% 6 $710,000 $118,333 $1,289 8.03%
    50-60% 5 $265,000 $53,000 $1,170 8.86%
    47% 5 $245,000 $49,000 $850 7.92%
    42% 4 $170,000 $42,500 $1,247 7.68%
    37% 4 $190,000 $47,500 $1,019 8.35%
    41% 4 $650,000 $162,500 $1,343 7.74%
    44% 4 $650,000 $162,500 $1,686 7.34%
    40% 3 $285,000 $95,000 $2,001 7.27%
    45% 3 $205,000 $68,333 $1,257 7.75%
    36% 2 $110,000 $55,000 $878 8.98%
    39% 2 $140,000 $70,000 $950 8.70%
    49% 2 $110,000 $55,000 $873 8.50%
    48% 1 $85,000 $85,000 $850 9.00%
    >60% 1 $125,000 $125,000 $1,467 8.45%

    Abilene Teachers Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 36 originations. The next most common DTI ratio? 30-36%, with 27 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 122 $9,530,000 $78,115 $1,155 8.00%
    Not provided 10 $830,000 $83,000 $1,273 7.74%
    Black 3 $275,000 $91,667 $1,177 8.35%
    Asian 2 $110,000 $55,000 $878 8.80%
    American Indian 2 $70,000 $35,000 $863 7.88%

    Approval Rates

    Total approvals of all applications
    81.31%

    Abilene Teachers Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    30.94%

    Abilene Teachers Federal 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 139 $10,815,000 $77,806

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    139 $10,815,000 $77,806

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 56 $3,900,000 $69,643 $1,093 8.33%
    40-60% 23 $1,805,000 $78,478 $1,024 7.65%
    60-80% 18 $2,250,000 $125,000 $1,493 7.23%
    80-100% 11 $1,495,000 $135,909 $1,516 7.30%
    Under 20% 31 $1,365,000 $44,032 $1,043 8.35%