Carter Federal Credit Union Mortgage Rates, Fees & Info
Springhill, LALEI: 549300CKG3JGNHH34D61
Tax ID: 72-0476576
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Mortgage Data
Review & Overview
Carter Federal Credit Union is a smaller credit union specializing in Home Purchase, Cash Out Refi, and Refi loans. Carter Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Shreveport, Austin, Minden, Dallas, and Lubbock among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Carter Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
61Origination Dollar Volume (All Markets)
$10,585,000Top 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 |
|---|---|---|---|---|---|
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 42 | $7,690,000 | $183,095 | $0 | 0.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| Minden, LA (FHA|USDA|VA) | 4 | $410,000 | $102,500 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $395,000 | $131,667 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Natchitoches, LA (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 0.00% |
| Magnolia, AR (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| TEXARKANA, TX-AR (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| MONROE, LA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| Ardmore, OK (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against CARTER FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 61 | $10,585,000 | $173,525 | $0 | 0.00% |
For 2020, Carter Federal Credit Union's most frequently originated type of loan was Conventional, with 61 originations.
Loan Reason
For 2020, Carter Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Cash Out Refi, with 18 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 61 | $10,585,000 | $173,525 | $0 | 0.00% |
For 2020, Carter Federal Credit Union's most frequently cited loan duration was Other, with 61 originations.
Loan Sizing
2020 saw Carter Federal Credit Union place emphasis on $100,000 or less loans with 30 originations, totaling $1,680,000 in origination value.
Applicant Income
Carter Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 11 originations. The second most popular income band? $50k or less, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 61 | $10,585,000 | $173,525 | $0 | 0.00% |
Carter Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 61 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.65%
Carter Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination98.36%
Carter 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 |
|---|---|---|---|
| Exempt | 61 | $10,585,000 | $173,525 |