Shell Federal Credit Union Mortgage Rates, Fees & Info

Deer Park, TX

LEI: 549300CYYO0YQ3EVCV77

Tax ID: 74-1132577

5 stars

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Shell Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Shell Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Austin, Beaumont, College Station, and San Antonio among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Shell 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. Shell Federal Credit Union is typically an average 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.

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.

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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.03%	3/23/23
30 Year Conventional Refi	5.91%	3/23/23
30 Year Cash-out Refi	6.27%	3/23/23
15 Year Conventional Purchase	4.80%	3/23/23
15 Year Conventional Refi	6.18%	3/23/23
15 Year Cash-out Refi	6.18%	3/23/23
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.

Originations

838

Origination Dollar Volume (All Markets)

$109,040,000

Relative Rate

Shell Federal Credit Union's average 30 year fixed mortgage rate was 5.04%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.28%.

Relative Fees (Closing Costs)

Shell Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,560.

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
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA\|USDA\|VA)	809	$103,235,000	$127,608	$1,764	5.07%
Outside of Metro Areas	11	$1,695,000	$154,091	$3,196	4.63%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA\|USDA\|VA)	3	$1,095,000	$365,000	$6,848	3.94%
BEAUMONT-PORT ARTHUR, TX (FHA\|USDA\|VA)	5	$1,035,000	$207,000	$5,259	4.98%
COLLEGE STATION-BRYAN, TX (FHA\|USDA\|VA)	2	$720,000	$360,000	$8,739	5.59%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA\|USDA\|VA)	2	$610,000	$305,000	$5,006	6.57%
MCALLEN-EDINBURG-MISSION, TX (FHA\|USDA\|VA)	1	$195,000	$195,000	$5,373	4.13%
Lufkin, TX (FHA\|USDA\|VA)	1	$145,000	$145,000	$4,041	4.38%
Bonham, TX (FHA\|USDA\|VA)	1	$95,000	$95,000	$285	6.25%
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	1	$95,000	$95,000	$278	5.13%
Brenham, TX (FHA\|USDA\|VA)	1	$95,000	$95,000	$281	5.63%
Rio Grande City-Roma, TX (FHA\|USDA\|VA)	1	$25,000	$25,000	$280	3.75%

Shell Federal Credit Union's top markets include Houston, Austin, Beaumont, College Station, and San Antonio among others.

Their top states include:

Texas (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against SHELL FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

U S WIDE FINANCIAL LLC
Similarity Rank: 336

WESTSTAR MORTGAGE CORPORATION
Similarity Rank: 385

AAXY L.L.C.
Similarity Rank: 432

AMOCO
Similarity Rank: 810

SCHLUMBERGER EMPLOYEES CREDIT UNION
Similarity Rank: 960

PRIMEWAY
Similarity Rank: 1050

CAPITAL PLUS FINANCIAL, LLC
Similarity Rank: 1104

LOANFLIGHT LENDING, LLC
Similarity Rank: 1170

Credence Funding Corporation
Similarity Rank: 1264

TEXAS BAY
Similarity Rank: 1557

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	838	$109,040,000	$130,119	$1,847	5.06%

For 2022, Shell Federal Credit Union's most frequently originated type of loan was Conventional, with 838 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Cash Out Refi	255	$36,695,000	$143,902	$1,231	4.78%
Other	232	$19,600,000	$84,483	$675	5.82%
Home Improvement	132	$9,120,000	$69,091	$552	5.57%
Home Purchase	114	$28,010,000	$245,702	$5,773	4.98%
Refi	105	$15,615,000	$148,714	$3,346	3.53%

For 2022, Shell Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 255 originations. The 2nd most popular reason was Other, with 232 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
15 Year	332	$37,370,000	$112,560	$1,476	4.82%
20 Year	247	$34,945,000	$141,478	$1,410	5.40%
10 Year	118	$8,500,000	$72,034	$638	5.08%
30 Year	113	$26,985,000	$238,805	$5,560	5.04%
5 Year	23	$855,000	$37,174	$207	4.91%
Other	5	$385,000	$77,000	$697	5.08%

For 2022, Shell Federal Credit Union's most frequently cited loan duration was 15 Year, with 332 originations. The 2nd most popular length was 20 Year, with 247 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	664	$69,550,000	$104,744
$1k-2k	84	$12,720,000	$151,429
$2k-3k	60	$14,600,000	$243,333
$3k-4k	16	$5,660,000	$353,750
$4k-5k	9	$4,075,000	$452,778
$5k+	5	$2,435,000	$487,000

Shell Federal Credit Union's average total fees were $5,560, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 664 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	209	$32,275,000	$154,426
4-5%	184	$24,130,000	$131,141
5-6%	180	$24,400,000	$135,556
6-7%	156	$16,390,000	$105,064
7-8%	50	$3,990,000	$79,800
<2.5%	27	$4,175,000	$154,630
Over 8%	19	$1,295,000	$68,158
2.5-3%	13	$2,385,000	$183,462

During 2022, Shell Federal Credit Union's average interest rate for loans was 5.04%, while their most frequently originated rate bucket for loans was 3-4%, with 209 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	436	$28,870,000	$66,216	$502	5.48%
$100k-200k	253	$37,475,000	$148,123	$2,391	4.57%
$200k-400k	131	$33,755,000	$257,672	$4,467	4.71%
$400k-600k	17	$8,055,000	$473,824	$8,212	4.63%
$600k-1MM	1	$885,000	$885,000	$0	3.93%

2022 saw Shell Federal Credit Union place emphasis on $100,000 or less loans with 436 originations, totaling $28,870,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	194	$27,320,000	$140,825	$2,104	5.29%
$75k-100k	185	$22,645,000	$122,405	$1,703	4.91%
$50k-75k	184	$20,590,000	$111,902	$1,667	4.84%
$150k-250k	149	$24,405,000	$163,792	$2,227	5.49%
$50k or less	88	$6,880,000	$78,182	$1,201	4.52%
$250k+	32	$6,450,000	$201,563	$2,270	5.24%

Shell Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 194 originations. The second most popular income band? $75k-100k, with 185 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	176	$20,750,000	$117,898	$1,487	5.18%
30-36%	163	$20,385,000	$125,061	$1,778	4.99%
<20%	64	$7,170,000	$112,031	$1,148	5.00%
38%	36	$4,500,000	$125,000	$2,033	4.92%
40%	36	$5,160,000	$143,333	$2,158	5.06%
43%	35	$6,115,000	$174,714	$3,002	4.64%
36%	35	$4,315,000	$123,286	$1,924	5.04%
41%	35	$4,635,000	$132,429	$1,614	5.17%
44%	30	$4,530,000	$151,000	$2,696	4.98%
50-60%	30	$3,690,000	$123,000	$1,132	5.23%
39%	30	$3,070,000	$102,333	$1,296	5.39%
42%	26	$3,510,000	$135,000	$1,904	5.01%
48%	24	$3,140,000	$130,833	$2,502	4.93%
37%	24	$2,840,000	$118,333	$1,807	5.49%
46%	23	$3,955,000	$171,957	$1,989	4.55%
47%	20	$3,210,000	$160,500	$2,549	5.44%
45%	20	$4,080,000	$204,000	$4,135	4.82%
49%	20	$2,700,000	$135,000	$1,989	5.31%
>60%	11	$1,285,000	$116,818	$1,590	4.97%

Shell Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 176 originations. The next most common DTI ratio? 30-36%, with 163 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	702	$90,820,000	$129,373	$1,841	5.04%
Black	58	$8,280,000	$142,759	$1,754	5.03%
Not provided	42	$5,690,000	$135,476	$2,138	5.53%
Asian	16	$2,010,000	$125,625	$1,630	4.69%
American Indian	13	$1,275,000	$98,077	$1,893	5.26%
Other Asian	3	$505,000	$168,333	$1,725	4.71%
Native Hawaiian or Islander	1	$265,000	$265,000	$6,213	5.25%
Asian Indian	1	$95,000	$95,000	$921	6.50%
Other Pacific Islander	1	$55,000	$55,000	$301	7.75%
Korean	1	$45,000	$45,000	$281	5.88%

Approval Rates

Total approvals of all applications
73.21%

Shell Federal Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
54.06%

Shell Federal 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	838	$109,040,000	$130,119

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	838	$109,040,000	$130,119

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	208	$17,210,000	$82,740	$718	5.45%
40-60%	145	$16,395,000	$113,069	$1,404	4.53%
60-80%	229	$40,295,000	$175,961	$2,567	4.54%
80-100%	126	$29,170,000	$231,508	$4,371	4.87%
Under 20%	130	$5,970,000	$45,923	$446	6.14%