Abilene Teachers Federal Credit Union Mortgage Rates, Fees & Info
Abilene, TXLEI: 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, Dallas, Houston, Pecos, and Levelland among others. We have data for 12 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. 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
187Origination Dollar Volume (All Markets)
$16,315,000Top 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 |
|---|---|---|---|---|---|
| ABILENE, TX (FHA|USDA|VA) | 155 | $13,115,000 | $84,613 | $811 | 3.99% |
| Outside of Metro Areas | 20 | $1,760,000 | $88,000 | $1,217 | 3.68% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $1,064 | 3.70% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $1,042 | 3.65% |
| Pecos, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,516 | 3.85% |
| Levelland, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,255 | 3.65% |
| Sweetwater, TX (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $756 | 3.85% |
| Brownwood, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $728 | 3.65% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,186 | 5.75% |
| Paris, TX (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $809 | 5.65% |
| Snyder, TX (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $712 | 3.85% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $746 | 5.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 187 | $16,315,000 | $87,246 | $865 | 3.97% |
For 2021, Abilene Teachers Federal Credit Union's most frequently originated type of loan was Conventional, with 187 originations.
Loan Reason
For 2021, Abilene Teachers Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 109 originations. The 2nd most popular reason was Home Improvement, with 69 originations.
Loan Duration/Length
For 2021, Abilene Teachers Federal Credit Union's most frequently cited loan duration was 20 Year, with 113 originations. The 2nd most popular length was 15 Year, with 36 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 184 | $15,820,000 | $85,978 |
| $1k-2k | 2 | $190,000 | $95,000 |
| $4k-5k | 1 | $305,000 | $305,000 |
Abilene Teachers Federal Credit Union's average total fees were $3,460, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 184 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 166 | $14,970,000 | $90,181 |
| 5-6% | 17 | $825,000 | $48,529 |
| 2.5-3% | 3 | $495,000 | $165,000 |
| 6-7% | 1 | $25,000 | $25,000 |
During 2021, Abilene Teachers Federal Credit Union's average interest rate for loans was 2.75%, while their most frequently originated rate bucket for loans was 3-4%, with 166 originations.
Loan Sizing
2021 saw Abilene Teachers Federal Credit Union place emphasis on $100,000 or less loans with 149 originations, totaling $9,535,000 in origination value.
Applicant Income
Abilene Teachers Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 56 originations. The second most popular income band? $100k-150k, with 46 originations.
Applicant Debt to Income Ratio
Abilene Teachers Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 39 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.25%
Abilene Teachers Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination89.84%
Abilene Teachers Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 187 | $16,315,000 | $87,246 |