Texell Credit Union Mortgage Rates, Fees & Info
Temple, TXLEI: 549300BDFK1ZR5QSYO15
Tax ID: 74-1109882
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Mortgage Data
Review & Overview
Texell Credit Union is a smaller credit union specializing in Cash Out Refi loans. Texell Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Killeen, Austin, Waco, Rockport, and Houston among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Texell 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. Texell 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 relatively high rates.
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 | 6.74% | 11/17/24 |
| 30 Year FHA Purchase | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 5.68% | 11/17/24 |
| 15 Year Conventional Refi | 6.71% | 11/17/24 |
| 15 Year Cash-out Refi | 6.71% | 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. | ||
Texell Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Texell Credit Union. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
283Origination Dollar Volume (All Markets)
$25,145,000Relative Rate
Texell Credit Union's average 30 year fixed mortgage rate was
6.77%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.29%.
Relative Fees (Closing Costs)
Texell Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,696.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 200 | $16,910,000 | $84,550 | $511 | 6.91% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 28 | $3,010,000 | $107,500 | $733 | 6.94% |
| WACO, TX (FHA|USDA|VA) | 24 | $1,870,000 | $77,917 | $698 | 6.66% |
| Outside of Metro Areas | 11 | $1,075,000 | $97,727 | $1,344 | 6.96% |
| Rockport, TX (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $6,850 | 6.24% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 5 | $455,000 | $91,000 | $1,190 | 7.30% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,302 | 7.25% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $2,656 | 6.87% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $1,002 | 6.91% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,747 | 5.38% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 6.20% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 5.94% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 6.20% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 7.99% |
| Brownwood, TX (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 5.94% |
| LONGVIEW, TX (FHA|USDA|VA) | 2 | $40,000 | $20,000 | $0 | 5.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against TEXELL Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 136
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 282 | $24,860,000 | $88,156 | $682 | 6.87% |
| FHA | 1 | $285,000 | $285,000 | $0 | 7.25% |
For 2023, Texell Credit Union's most frequently originated type of loan was Conventional, with 282 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2023, Texell Credit Union's most frequently cited loan purpose was Cash Out Refi, with 223 originations. The 2nd most popular reason was Other, with 27 originations.
Loan Duration/Length
For 2023, Texell Credit Union's most frequently cited loan duration was 15 Year, with 154 originations. The 2nd most popular length was 10 Year, with 48 originations.
Origination Fees/Closing Costs
Texell Credit Union's average total fees were $4,696, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 258 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 114 | $10,890,000 | $95,526 |
| 5-6% | 89 | $7,225,000 | $81,180 |
| 7-8% | 52 | $5,480,000 | $105,385 |
| Over 8% | 27 | $1,485,000 | $55,000 |
| 3-4% | 1 | $65,000 | $65,000 |
During 2023, Texell Credit Union's average interest rate for loans was 6.77%, while their most frequently originated rate bucket for loans was 6-7%, with 114 originations.
Loan Sizing
2023 saw Texell Credit Union place emphasis on $100,000 or less loans with 193 originations, totaling $10,675,000 in origination value.
Applicant Income
Texell Credit Union lent most frequently to those with incomes in the $100k-150k range, with 78 originations. The second most popular income band? $50k-75k, with 58 originations.
Applicant Debt to Income Ratio
Texell Credit Union lent most frequently to those with DTI ratios of 30-36%, with 52 originations. The next most common DTI ratio? 20-30%, with 48 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications71.54%
Texell Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination37.46%
Texell 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 | 283 | $25,145,000 | $88,852 |