Texell Credit Union Mortgage Rates, Fees & Info

Temple, TX

LEI: 549300BDFK1ZR5QSYO15

Tax ID: 74-1109882

5 stars - Updated: 3/27/24 - out of 5 stars, based on 17 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

Jump to:

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.74% 3/27/24
30 Year FHA Purchase 6.27% 3/27/24
15 Year Conventional Purchase 5.68% 3/27/24
15 Year Conventional Refi 6.71% 3/27/24
15 Year Cash-out Refi 6.71% 3/27/24
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

283

Origination Dollar Volume (All Markets)

$25,145,000

Relative 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 $4,750.

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%
Texell Credit Union's top markets include Killeen, Austin, Waco, Rockport, and Houston among others.

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

    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 136
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 220
    Extraco Banks
    Similarity Rank: 336
    FC LENDING, LTD.
    Similarity Rank: 385
    ADVISA MORTGAGE SERVICES, LTD.
    Similarity Rank: 575
    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 588
    AAXY L.L.C.
    Similarity Rank: 616
    FIRST EQUITY MORTGAGE INCORPORATED
    Similarity Rank: 896

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 223 $17,685,000 $79,305 $267 6.88%
    Other 27 $2,255,000 $83,519 $507 7.18%
    Home Purchase 21 $4,345,000 $206,905 $5,385 6.69%
    Refi 9 $575,000 $63,889 $670 6.58%
    Home Improvement 3 $285,000 $95,000 $0 5.94%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 154 $12,700,000 $82,468 $246 7.10%
    10 Year 48 $2,890,000 $60,208 $162 6.73%
    20 Year 36 $4,690,000 $130,278 $1,074 6.54%
    30 Year 23 $4,045,000 $175,870 $4,696 6.77%
    5 Year 22 $820,000 $37,273 $0 6.27%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 258 $20,330,000 $78,798
    $1k-2k 15 $2,295,000 $153,000
    $2k-3k 7 $1,385,000 $197,857
    $3k-4k 1 $205,000 $205,000
    $4k-5k 1 $385,000 $385,000
    $5k+ 1 $545,000 $545,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 193 $10,675,000 $55,311 $167 6.99%
    $100k-200k 73 $9,955,000 $136,370 $1,033 6.63%
    $200k-400k 16 $3,970,000 $248,125 $4,562 6.66%
    $400k-600k 1 $545,000 $545,000 $11,636 5.88%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 78 $6,550,000 $83,974 $427 6.89%
    $50k-75k 58 $4,830,000 $83,276 $840 6.92%
    $75k-100k 52 $4,190,000 $80,577 $540 7.05%
    $150k-250k 44 $5,440,000 $123,636 $879 6.91%
    $50k or less 40 $2,680,000 $67,000 $860 6.50%
    $250k+ 10 $1,400,000 $140,000 $919 6.90%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 52 $4,380,000 $84,231 $371 6.66%
    20-30% 48 $4,000,000 $83,333 $420 6.84%
    42% 23 $2,095,000 $91,087 $1,292 7.41%
    44% 23 $2,315,000 $100,652 $946 7.23%
    40% 19 $1,885,000 $99,211 $1,178 6.82%
    37% 16 $950,000 $59,375 $826 6.92%
    39% 16 $1,410,000 $88,125 $350 6.51%
    43% 16 $1,280,000 $80,000 $40 7.11%
    36% 12 $980,000 $81,667 $800 6.38%
    41% 12 $760,000 $63,333 $58 6.94%
    <20% 11 $735,000 $66,818 $0 6.18%
    38% 11 $1,545,000 $140,455 $1,680 7.68%
    45% 10 $1,000,000 $100,000 $545 6.46%
    46% 5 $745,000 $149,000 $2,162 7.34%
    47% 5 $335,000 $67,000 $128 7.22%
    48% 2 $360,000 $180,000 $2,976 7.37%
    50-60% 2 $370,000 $185,000 $3,962 5.79%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 217 $18,615,000 $85,783 $612 6.80%
    Not provided 42 $3,810,000 $90,714 $821 7.21%
    Black 12 $1,640,000 $136,667 $1,022 6.52%
    Asian 7 $685,000 $97,857 $1,425 7.78%
    American Indian 4 $280,000 $70,000 $707 6.69%
    Native Hawaiian or Islander 1 $115,000 $115,000 $0 7.46%

    Approval Rates

    Total approvals of all applications
    71.54%

    Texell Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    37.46%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    283 $25,145,000 $88,852

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 91 $7,735,000 $85,000 $314 6.91%
    40-60% 27 $3,475,000 $128,704 $1,344 6.49%
    60-80% 29 $4,615,000 $159,138 $1,974 6.60%
    80-100% 15 $2,845,000 $189,667 $4,109 6.74%
    Under 20% 121 $6,475,000 $53,512 $71 7.02%