Excite Credit Union Mortgage Rates, Fees & Info

San Jose, CA

LEI: 549300DFCG6GF21KOW34

Tax ID: 94-1243656

5 stars - out of 5 stars, based on 16 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Excite Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. Excite Credit Union has a high proportion of conventional loans. Their top markets include San Jose, Wilmington, San Francisco, Sacramento, and Oxnard among others. Excite Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Excite Credit Union is typically an average fee lendor.


Originations

257

Origination Dollar Volume (All Markets)

$83,425,000

Awards

EXCITE Credit Union 30 Year Conventional Loans bronze EXCITE Credit Union 30 Year Conventional Loans silver EXCITE Credit Union 30 Year Conventional Loans bronze
Show all (3) awards

Relative Rate

Excite Credit Union's average 30 year fixed rate mortgage of loans were 3%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.15%.

Relative Fees

Excite Credit Union's average total fees for a 30 year fixed rate mortgage are $4,017.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 82 $35,360,000 $431,220 $4,113 2.85%
WILMINGTON, NC (FHA|USDA|VA) 96 $17,280,000 $180,000 $3,290 3.04%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 16 $10,230,000 $639,375 $4,440 2.77%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 8 $4,430,000 $553,750 $5,404 2.75%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 3 $2,845,000 $948,333 $7,474 2.54%
STOCKTON, CA (FHA|USDA|VA) 6 $2,520,000 $420,000 $4,518 3.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 11 $2,105,000 $191,364 $3,323 3.03%
Outside of Metro Areas 6 $1,220,000 $203,333 $4,291 2.96%
SALINAS, CA (FHA|USDA|VA) 3 $1,165,000 $388,333 $5,710 2.71%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $980,000 $490,000 $6,292 2.75%
MODESTO, CA (FHA|USDA|VA) 3 $955,000 $318,333 $3,034 3.33%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 3 $805,000 $268,333 $2,376 4.12%
VALLEJO, CA (FHA|USDA|VA) 3 $725,000 $241,667 $2,855 2.79%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 4 $580,000 $145,000 $3,298 2.88%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $440,000 $220,000 $3,440 2.63%
FRESNO, CA (FHA|USDA|VA) 2 $430,000 $215,000 $3,987 2.94%
MERCED, CA (FHA|USDA|VA) 2 $420,000 $210,000 $3,192 2.81%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $405,000 $405,000 $3,579 3.25%
ASHEVILLE, NC (FHA|USDA|VA) 1 $215,000 $215,000 $4,083 2.75%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $135,000 $135,000 $3,158 3.00%
NEW BERN, NC (FHA|USDA|VA) 1 $105,000 $105,000 $3,581 2.75%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $75,000 $75,000 $3,135 3.75%

Excite Credit Union's top markets include San Jose, Wilmington, San Francisco, Sacramento, and Oxnard among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 257 $83,425,000 $324,611 $3,841 2.94%

For the 2021 period, Excite Credit Union's most frequently originated loan type of loans were Conventional, with 257 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 112 $33,910,000 $302,768 $3,517 2.87%
Cash Out Refi 99 $34,505,000 $348,535 $4,092 2.90%
Home Purchase 36 $12,830,000 $356,389 $4,471 3.07%
Home Improvement 9 $2,135,000 $237,222 $3,083 3.43%
Other 1 $45,000 $45,000 $0 5.99%

For the 2021, Excite Credit Union's most frequently cited loan purpose of loans were Refi, with 112 originations. The 2nd most popular reason of loans were Cash Out Refi, with 99 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 193 $69,765,000 $361,477 $4,017 3.00%
15 Year 43 $8,215,000 $191,047 $3,138 2.73%
20 Year 21 $5,445,000 $259,286 $3,651 2.88%

For the 2021, Excite Credit Union's most frequently cited loan length of loans were 30 Year, with 193 originations. The 2nd most popular length of loans were 15 Year, with 43 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 134 $39,180,000 $292,388
$2k-3k 46 $11,550,000 $251,087
$3k-4k 33 $15,995,000 $484,697
$<1k 26 $7,510,000 $288,846
$5k+ 14 $8,510,000 $607,857

$4,017 of loans were Excite Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 134 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 133 $48,025,000 $361,090
3-4% 81 $21,525,000 $265,741
<2.5% 39 $13,255,000 $339,872
4-5% 2 $470,000 $235,000
5-6% 2 $150,000 $75,000

During 2021, Excite Credit Union's average interest rate of loans were 3.00%, while their most frequently originated rate bucket of loans were 2.5-3%, with 133 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 89 $25,945,000 $291,517 $3,966 2.89%
$100k-200k 83 $11,955,000 $144,036 $3,103 3.00%
$400k-600k 37 $17,775,000 $480,405 $4,507 2.97%
$600k-1MM 22 $16,370,000 $744,091 $5,461 2.85%
$100,000 or less 19 $1,455,000 $76,579 $2,702 3.11%
$1MM+ 7 $9,925,000 $1,417,857 $5,113 2.64%

2021 saw Excite Credit Union place emphasis on $200k-400k loans with 89 originations, totaling $25,945,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 54 $19,660,000 $364,074 $4,154 2.95%
$150k-250k 52 $21,760,000 $418,462 $4,608 2.88%
$75k-100k 47 $10,975,000 $233,511 $3,699 3.01%
$50k-75k 44 $8,390,000 $190,682 $3,300 3.01%
$50k or less 33 $4,645,000 $140,758 $3,143 2.93%
$250k+ 20 $16,230,000 $811,500 $4,492 2.74%

Excite Credit Union lent most frequently to those with incomes in the $100k-150k range, with 54 originations. The second most popular income band? $150k-250k, with 52 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 71 $20,695,000 $291,479 $3,622 2.97%
30-36% 48 $16,270,000 $338,958 $3,937 2.94%
<20% 29 $6,725,000 $231,897 $3,285 2.79%
42% 18 $5,090,000 $282,778 $3,883 3.10%
36% 11 $4,805,000 $436,818 $3,825 3.04%
43% 10 $5,710,000 $571,000 $5,906 2.66%
39% 10 $4,880,000 $488,000 $3,574 2.93%
40% 9 $2,285,000 $253,889 $3,649 3.00%
37% 9 $3,035,000 $337,222 $4,682 2.88%
44% 7 $1,915,000 $273,571 $3,272 3.27%
41% 7 $1,925,000 $275,000 $4,800 3.07%
38% 6 $1,170,000 $195,000 $3,717 3.06%
49% 5 $835,000 $167,000 $3,394 2.68%
47% 4 $2,850,000 $712,500 $3,554 2.91%
45% 4 $2,710,000 $677,500 $5,607 3.06%
48% 2 $660,000 $330,000 $6,492 2.69%
46% 2 $520,000 $260,000 $3,027 3.06%
50-60% 2 $450,000 $225,000 $3,067 2.69%

Excite Credit Union lent most frequently to those with DTI ratios of 20-30%, with 71 originations. The next most common DTI ratio? 30-36%, with 48 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 182 $52,720,000 $289,670 $3,821 2.96%
Not provided 32 $13,250,000 $414,063 $3,803 2.90%
Asian 21 $11,575,000 $551,190 $4,397 2.88%
Black 22 $5,880,000 $267,273 $3,554 2.90%

Approval Rates

Total approvals of all applications
80.77%

Excite Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
80.04%

Excite Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 257 $83,425,000 $324,611

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
257 $83,425,000 $324,611

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 55 $14,485,000 $263,364 $3,429 2.82%
40-60% 75 $24,215,000 $322,867 $3,781 2.90%
60-80% 77 $29,335,000 $380,974 $4,269 3.00%
80-100% 30 $12,130,000 $404,333 $4,333 3.05%
Under 20% 19 $3,145,000 $165,526 $2,824 3.11%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
EUSTIS MORTGAGE CORPORATION FHA mortgage Closing on a mortgage 1 100.0%