First Community Credit Union Mortgage Rates, Fees & Info
Houston, TXLEI: 549300F52SJSXL6QRM73
Tax ID: 74-1212168
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Mortgage Data
Review & Overview
First Community Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. First Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Austin, San Antonio, Dallas, and El Campo among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)First Community 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. First Community 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.07% | 4/22/24 |
| 30 Year Conventional Refi | 6.24% | 4/22/24 |
| 30 Year Cash-out Refi | 6.51% | 4/22/24 |
| 30 Year FHA Purchase | 6.27% | 4/22/24 |
| 30 Year VA Refi | 6.27% | 4/22/24 |
| 15 Year Conventional Purchase | 5.61% | 4/22/24 |
| 15 Year Conventional Refi | 5.84% | 4/22/24 |
| 15 Year Cash-out Refi | 5.84% | 4/22/24 |
| 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. | ||
First Community Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
676Origination Dollar Volume (All Markets)
$142,750,000Top 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 |
|---|---|---|---|---|---|
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 653 | $137,995,000 | $211,325 | $5,365 | 2.99% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $6,384 | 3.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $5,307 | 2.92% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $6,068 | 3.06% |
| El Campo, TX (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $4,733 | 2.88% |
| Outside of Metro Areas | 4 | $440,000 | $110,000 | $3,724 | 3.72% |
| Brenham, TX (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $4,847 | 2.81% |
| Kerrville, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $7,261 | 2.88% |
| Bay City, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,105 | 2.88% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,759 | 3.00% |
| Huntsville, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,134 | 4.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,352 | 2.88% |
| Rockport, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,319 | 3.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against FIRST COMMUNITY CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 675 | $142,705,000 | $211,415 | $5,360 | 2.99% |
| HELOC | 1 | $45,000 | $45,000 | n/a | 6.49% |
For 2021, First Community Credit Union's most frequently originated type of loan was Conventional, with 675 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2021, First Community Credit Union's most frequently cited loan purpose was Refi, with 252 originations. The 2nd most popular reason was Cash Out Refi, with 238 originations.
Loan Duration/Length
For 2021, First Community Credit Union's most frequently cited loan duration was 30 Year, with 404 originations. The 2nd most popular length was 15 Year, with 202 originations.
Origination Fees/Closing Costs
First Community Credit Union's average total fees were $5,729, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 381 originations.
Interest Rates
During 2021, First Community Credit Union's average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was 2.5-3%, with 324 originations.
Loan Sizing
2021 saw First Community Credit Union place emphasis on $100k-200k loans with 313 originations, totaling $47,015,000 in origination value.
Applicant Income
First Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 181 originations. The second most popular income band? $50k-75k, with 163 originations.
Applicant Debt to Income Ratio
First Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 155 originations. The next most common DTI ratio? 30-36%, with 140 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.67%
First Community Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination54.44%
First Community 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 | 676 | $142,750,000 | $211,169 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| First Technology Federal Credit Union | FHA mortgage | Struggling to pay mortgage | 1 | 14.3% |
| First Technology Federal Credit Union | Conventional home mortgage | Incorrect information on your report | 1 | 14.3% |
| First Technology Federal Credit Union | Other type of mortgage | Trouble during payment process | 1 | 14.3% |
| First Technology Federal Credit Union | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
| First Technology Federal Credit Union | Conventional home mortgage | Trouble during payment process | 2 | 28.6% |
| First Technology Federal Credit Union | Conventional home mortgage | Closing on a mortgage | 1 | 14.3% |