Abilene Teachers Federal Credit Union Mortgage Rates, Fees & Info

Abilene, TX

LEI: 549300A8TEVE8WYT0T29

Tax ID: 75-0888860

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Mortgage Data

Review & Overview

Abilene Teachers Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Improvement loans. Abilene Teachers Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Abilene, Sweetwater, Austin, Brownwood, and Snyder among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Abilene Teachers Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Abilene Teachers Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

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Originations

191

Origination Dollar Volume (All Markets)

$14,505,000

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) 164 $12,740,000 $77,683 $843 4.40%
Outside of Metro Areas 16 $1,040,000 $65,000 $775 4.23%
Sweetwater, TX (FHA|USDA|VA) 6 $300,000 $50,000 $763 4.29%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $230,000 $115,000 $892 5.10%
Brownwood, TX (FHA|USDA|VA) 2 $150,000 $75,000 $764 4.55%
Snyder, TX (FHA|USDA|VA) 1 $45,000 $45,000 $710 4.00%
Abilene Teachers Federal Credit Union's top markets include Abilene, Sweetwater, Austin, Brownwood, and Snyder among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 191 $14,505,000 $75,942 $834 4.39%

    For 2020, Abilene Teachers Federal Credit Union's most frequently originated type of loan was Conventional, with 191 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 130 $10,070,000 $77,462 $814 4.41%
    Home Improvement 51 $3,245,000 $63,627 $768 4.35%
    Refi 7 $475,000 $67,857 $944 4.46%
    Home Purchase 3 $715,000 $238,333 $2,587 4.00%

    For 2020, Abilene Teachers Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 130 originations. The 2nd most popular reason was Home Improvement, with 51 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 125 $10,205,000 $81,640 $805 4.39%
    10 Year 34 $1,550,000 $45,588 $768 4.25%
    15 Year 28 $1,870,000 $66,786 $714 4.58%
    30 Year 4 $880,000 $220,000 $3,123 4.22%

    For 2020, Abilene Teachers Federal Credit Union's most frequently cited loan duration was 20 Year, with 125 originations. The 2nd most popular length was 10 Year, with 34 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 187 $13,715,000 $73,342
    $1k-2k 1 $315,000 $315,000
    $2k-3k 1 $165,000 $165,000
    $3k-4k 1 $215,000 $215,000

    Abilene Teachers Federal Credit Union's average total fees were $3,123, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 187 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 105 $8,465,000 $80,619
    3-4% 72 $5,440,000 $75,556
    6-7% 9 $345,000 $38,333
    5-6% 5 $255,000 $51,000

    During 2020, Abilene Teachers Federal Credit Union's average interest rate for loans was 4.22%, while their most frequently originated rate bucket for loans was 4-5%, with 105 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 162 $9,300,000 $57,407 $721 4.42%
    $100k-200k 19 $2,685,000 $141,316 $1,334 4.23%
    $200k-400k 10 $2,520,000 $252,000 $1,703 4.15%

    2020 saw Abilene Teachers Federal Credit Union place emphasis on $100,000 or less loans with 162 originations, totaling $9,300,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 58 $3,200,000 $55,172 $725 4.29%
    $100k-150k 45 $4,135,000 $91,889 $929 4.56%
    $50k-75k 44 $3,000,000 $68,182 $776 4.34%
    $75k-100k 34 $2,910,000 $85,588 $832 4.45%
    $150k-250k 7 $935,000 $133,571 $1,417 4.23%
    $250k+ 3 $325,000 $108,333 $1,023 4.02%

    Abilene Teachers Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 58 originations. The second most popular income band? $100k-150k, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 45 $3,565,000 $79,222 $944 4.34%
    30-36% 38 $2,670,000 $70,263 $749 4.39%
    <20% 27 $1,855,000 $68,704 $734 4.16%
    46% 10 $920,000 $92,000 $860 4.35%
    50-60% 9 $725,000 $80,556 $763 4.32%
    41% 8 $460,000 $57,500 $713 4.43%
    47% 8 $490,000 $61,250 $914 4.97%
    40% 7 $435,000 $62,143 $769 4.94%
    >60% 6 $310,000 $51,667 $896 3.98%
    43% 6 $630,000 $105,000 $929 4.59%
    45% 6 $410,000 $68,333 $799 4.28%
    37% 5 $405,000 $81,000 $760 4.51%
    39% 5 $605,000 $121,000 $1,229 4.64%
    36% 4 $640,000 $160,000 $1,015 4.64%
    38% 3 $165,000 $55,000 $703 4.37%
    48% 2 $80,000 $40,000 $691 4.18%
    42% 1 $75,000 $75,000 $609 4.70%
    44% 1 $65,000 $65,000 $763 4.35%

    Abilene Teachers Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 180 $13,620,000 $75,667 $841 4.39%
    Black 5 $385,000 $77,000 $760 4.25%
    American Indian 4 $240,000 $60,000 $726 4.55%
    Not provided 1 $185,000 $185,000 $583 4.00%
    Asian 1 $75,000 $75,000 $673 4.20%

    Approval Rates

    Total approvals of all applications
    91.63%

    Abilene Teachers Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.91%

    Abilene Teachers Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 191 $14,505,000 $75,942

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 191 $14,505,000 $75,942

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 46 $2,120,000 $46,087 $684 4.51%
    40-60% 32 $2,050,000 $64,063 $778 4.30%
    60-80% 67 $6,355,000 $94,851 $837 4.27%
    80-100% 27 $3,175,000 $117,593 $1,235 4.26%
    Over 100% 2 $130,000 $65,000 $776 4.35%
    Under 20% 17 $675,000 $39,706 $728 4.91%