Memphis City Employees Credit Union Mortgage Rates, Fees & Info
Memphis, TNLEI: 549300DU662K57XBSH20
Tax ID: 62-0630690
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Memphis City Employees Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Memphis City Employees Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Memphis, Nashville, Oxford, Little Rock, and Birmingham among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Memphis City Employees Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.
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Originations
117Origination Dollar Volume (All Markets)
$16,485,000Top 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 |
|---|---|---|---|---|---|
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 105 | $14,215,000 | $135,381 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $1,005,000 | $335,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $575,000 | $191,667 | $0 | 0.00% |
| Oxford, MS (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 0.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Corinth, MS (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Brownsville, TN (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 117 | $16,485,000 | $140,897 | $0 | 0.00% |
For 2024, Memphis City Employees Credit Union's most frequently originated type of loan was Conventional, with 117 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 94 | $10,330,000 | $109,894 | $0 | 0.00% |
| Home Purchase | 19 | $5,295,000 | $278,684 | $0 | 0.00% |
| Refi | 4 | $860,000 | $215,000 | $0 | 0.00% |
For 2024, Memphis City Employees Credit Union's most frequently cited loan purpose was Cash Out Refi, with 94 originations. The 2nd most popular reason was Home Purchase, with 19 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 117 | $16,485,000 | $140,897 | $0 | 0.00% |
For 2024, Memphis City Employees Credit Union's most frequently cited loan duration was Other, with 117 originations.
Loan Sizing
2024 saw Memphis City Employees Credit Union place emphasis on $100,000 or less loans with 68 originations, totaling $3,860,000 in origination value.
Applicant Income
Memphis City Employees Credit Union lent most frequently to those with incomes in the $100k-150k range, with 36 originations. The second most popular income band? $75k-100k, with 24 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 117 | $16,485,000 | $140,897 | $0 | 0.00% |
Memphis City Employees Credit Union lent most frequently to those with DTI ratios of Exempt%, with 117 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.12%
Memphis City Employees Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination93.16%
Memphis City Employees Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 117 | $16,485,000 | $140,897 |