Wichita Falls Teachers Federal Credit Union Mortgage Rates, Fees & Info

Wichita Falls, TX

LEI: 549300DCAVODU8W5UW13

Tax ID: 75-0861333

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Wichita Falls Teachers Federal Credit Union is a smaller credit union specializing in Home Improvement, Other, and Cash Out Refi loans. Wichita Falls Teachers Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Wichita Falls.

    Wichita Falls Teachers Federal Credit Union has an above average approval rate when compared to the average across all lenders.

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    Originations

    56

    Origination Dollar Volume (All Markets)

    $3,910,000

    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
    WICHITA FALLS, TX (FHA|USDA|VA) 55 $3,875,000 $70,455 $531 5.09%
    Outside of Metro Areas 1 $35,000 $35,000 $212 6.75%
    Wichita Falls Teachers Federal Credit Union's top markets include and Wichita Falls among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 56 $3,910,000 $69,821 $525 5.12%

    For 2023, Wichita Falls Teachers Federal Credit Union's most frequently originated type of loan was Conventional, with 56 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 20 $1,350,000 $67,500 $525 4.78%
    Other 15 $855,000 $57,000 $298 5.33%
    Cash Out Refi 14 $990,000 $70,714 $587 5.13%
    Refi 6 $520,000 $86,667 $579 5.46%
    NA 1 $195,000 $195,000 $2,587 6.75%

    For 2023, Wichita Falls Teachers Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 20 originations. The 2nd most popular reason was Other, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 36 $3,160,000 $87,778 $663 5.28%
    10 Year 13 $465,000 $35,769 $318 5.12%
    5 Year 7 $285,000 $40,714 $212 4.32%

    For 2023, Wichita Falls Teachers Federal Credit Union's most frequently cited loan duration was 15 Year, with 36 originations. The 2nd most popular length was 10 Year, with 13 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 35 $2,515,000 $71,857
    6-7% 11 $695,000 $63,182
    5-6% 6 $390,000 $65,000
    3-4% 4 $310,000 $77,500

    During 2023, Wichita Falls Teachers Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 35 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 47 $2,515,000 $53,511 $293 5.12%
    $100k-200k 8 $1,120,000 $140,000 $1,615 5.16%
    $200k-400k 1 $275,000 $275,000 $3,357 4.75%

    2023 saw Wichita Falls Teachers Federal Credit Union place emphasis on $100,000 or less loans with 47 originations, totaling $2,515,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 16 $990,000 $61,875 $454 5.53%
    $75k-100k 14 $1,040,000 $74,286 $537 5.00%
    $150k-250k 9 $935,000 $103,889 $886 4.67%
    $100k-150k 8 $550,000 $68,750 $556 5.09%
    $50k or less 7 $305,000 $43,571 $212 5.21%
    $250k+ 1 $55,000 $55,000 $212 4.25%

    Wichita Falls Teachers Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 16 originations. The second most popular income band? $75k-100k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 12 $870,000 $72,500 $646 4.81%
    20-30% 11 $685,000 $62,273 $398 5.43%
    <20% 11 $555,000 $50,455 $353 4.91%
    50-60% 6 $540,000 $90,000 $791 5.79%
    37% 3 $495,000 $165,000 $1,794 4.75%
    >60% 2 $150,000 $75,000 $212 5.63%
    40% 2 $170,000 $85,000 $212 4.50%
    36% 1 $35,000 $35,000 $212 4.50%
    43% 1 $35,000 $35,000 $0 4.50%
    45% 1 $35,000 $35,000 $212 4.75%
    46% 1 $35,000 $35,000 $212 4.25%
    48% 1 $65,000 $65,000 $212 5.75%
    49% 1 $95,000 $95,000 $212 5.75%
    38% 1 $75,000 $75,000 $212 7.00%
    39% 1 $35,000 $35,000 $212 4.75%

    Wichita Falls Teachers Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 12 originations. The next most common DTI ratio? 20-30%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 51 $3,635,000 $71,275 $558 5.06%
    Not provided 1 $95,000 $95,000 $212 7.00%
    Black 2 $90,000 $45,000 $212 5.13%
    American Indian 1 $55,000 $55,000 $212 6.75%
    Asian 1 $35,000 $35,000 $212 4.75%

    Approval Rates

    Total approvals of all applications
    100.00%

    Wichita Falls Teachers Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 56 $3,910,000 $69,821

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    56 $3,910,000 $69,821

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $880,000 $62,857 $512 5.05%
    40-60% 18 $1,550,000 $86,111 $693 4.72%
    60-80% 10 $880,000 $88,000 $592 5.78%
    80-100% 1 $95,000 $95,000 $212 7.00%
    Under 20% 13 $505,000 $38,846 $310 5.10%