Wichita Falls Teachers Federal Credit Union Mortgage Rates, Fees & Info
Wichita Falls, TXLEI: 549300DCAVODU8W5UW13
Tax ID: 75-0861333
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Mortgage Data
Review & Overview
Wichita Falls Teachers Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Home Improvement, and Other loans. Wichita Falls Teachers Federal Credit Union has a high proportion of conventional loans. Their top two markets are Wichita Falls and Vernon .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
33Origination Dollar Volume (All Markets)
$2,085,000Top 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 |
|---|---|---|---|---|---|
| WICHITA FALLS, TX (FHA|USDA|VA) | 32 | $2,040,000 | $63,750 | $495 | 5.11% |
| Vernon, TX (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $222 | 5.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 33 | $2,085,000 | $63,182 | $487 | 5.11% |
For 2019, Wichita Falls Teachers Federal Credit Union's most frequently originated type of loan was Conventional, with 33 originations.
Loan Reason
For 2019, Wichita Falls Teachers Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 14 originations. The 2nd most popular reason was Home Improvement, with 10 originations.
Loan Duration/Length
For 2019, Wichita Falls Teachers Federal Credit Union's most frequently cited loan duration was 15 Year, with 13 originations. The 2nd most popular length was 10 Year, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 25 | $1,515,000 | $60,600 |
| 5-6% | 7 | $535,000 | $76,429 |
| 6-7% | 1 | $35,000 | $35,000 |
During 2019, 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 25 originations.
Loan Sizing
2019 saw Wichita Falls Teachers Federal Credit Union place emphasis on $100,000 or less loans with 29 originations, totaling $1,365,000 in origination value.
Applicant Income
Wichita Falls Teachers Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $50k or less, with 7 originations.
Applicant Debt to Income Ratio
Wichita Falls Teachers Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? <20%, with 7 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 33 | $2,085,000 | $63,182 |