First Community Credit Union Mortgage Rates, Fees & Info

Houston, TX

LEI: 549300F52SJSXL6QRM73

Tax ID: 74-1212168

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    First Community Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. First Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Dallas, College Station, San Antonio, and Athens among others. We have data for 15 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.07% 4/28/24
    30 Year Conventional Refi 6.24% 4/28/24
    30 Year Cash-out Refi 6.51% 4/28/24
    30 Year FHA Purchase 6.27% 4/28/24
    30 Year VA Refi 6.27% 4/28/24
    15 Year Conventional Purchase 5.61% 4/28/24
    15 Year Conventional Refi 5.84% 4/28/24
    15 Year Cash-out Refi 5.84% 4/28/24
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from First Community Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    577

    Origination Dollar Volume (All Markets)

    $159,475,000

    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
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 543 $149,335,000 $275,018 $6,821 4.45%
    Outside of Metro Areas 8 $2,000,000 $250,000 $6,467 4.80%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 6 $1,880,000 $313,333 $7,324 4.90%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 4 $1,100,000 $275,000 $7,611 4.94%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $1,015,000 $338,333 $7,555 3.46%
    Athens, TX (FHA|USDA|VA) 2 $830,000 $415,000 $9,949 4.31%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $750,000 $375,000 $8,499 4.50%
    Bay City, TX (FHA|USDA|VA) 2 $680,000 $340,000 $7,223 5.06%
    Huntsville, TX (FHA|USDA|VA) 1 $475,000 $475,000 $8,276 4.13%
    WACO, TX (FHA|USDA|VA) 1 $415,000 $415,000 $7,934 3.88%
    Brenham, TX (FHA|USDA|VA) 1 $275,000 $275,000 $5,967 4.38%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $235,000 $235,000 $5,826 5.25%
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $185,000 $185,000 $4,732 5.50%
    EL PASO, TX (FHA|USDA|VA) 1 $165,000 $165,000 $5,174 4.75%
    Kingsville, TX (FHA|USDA|VA) 1 $135,000 $135,000 $6,588 3.38%
    First Community Credit Union's top markets include Houston, Dallas, College Station, San Antonio, and Athens among others.

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

    • 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.

    PRIMEWAY
    Similarity Rank: 249
    AMOCO
    Similarity Rank: 510
    A+ Federal Credit Union
    Similarity Rank: 858
    FIRST CONTINENTAL MORTGAGE, LTD.
    Similarity Rank: 860
    TEXAS BAY
    Similarity Rank: 957
    CAPITAL PLUS FINANCIAL, LLC
    Similarity Rank: 1032
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 1074
    AAXY L.L.C.
    Similarity Rank: 1344
    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 1482
    JSC
    Similarity Rank: 1924

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 577 $159,475,000 $276,386 $6,843 4.46%

    For 2022, First Community Credit Union's most frequently originated type of loan was Conventional, with 577 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 329 $112,845,000 $342,994 $8,015 4.68%
    Cash Out Refi 174 $31,900,000 $183,333 $5,335 4.42%
    Refi 66 $13,870,000 $210,152 $5,242 3.28%
    Home Improvement 8 $860,000 $107,500 $3,891 6.15%

    For 2022, First Community Credit Union's most frequently cited loan purpose was Home Purchase, with 329 originations. The 2nd most popular reason was Cash Out Refi, with 174 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 411 $128,855,000 $313,516 $7,524 4.66%
    15 Year 113 $21,755,000 $192,522 $5,378 3.57%
    20 Year 38 $7,300,000 $192,105 $4,735 5.03%
    10 Year 12 $1,180,000 $98,333 $3,945 3.97%
    5 Year 2 $110,000 $55,000 $1,753 5.87%
    30+ year 1 $275,000 $275,000 $14,506 6.50%

    For 2022, First Community Credit Union's most frequently cited loan duration was 30 Year, with 411 originations. The 2nd most popular length was 15 Year, with 113 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 218 $51,900,000 $238,073
    $3k-4k 113 $40,375,000 $357,301
    $1k-2k 98 $12,360,000 $126,122
    $5k+ 69 $29,835,000 $432,391
    $4k-5k 54 $22,050,000 $408,333
    $<1k 25 $2,955,000 $118,200

    First Community Credit Union's average total fees were $7,524, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 218 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 225 $72,135,000 $320,600
    3-4% 120 $29,580,000 $246,500
    5-6% 113 $30,955,000 $273,938
    2.5-3% 54 $12,980,000 $240,370
    6-7% 36 $8,310,000 $230,833
    <2.5% 23 $4,935,000 $214,565
    7-8% 6 $580,000 $96,667

    During 2022, First Community Credit Union's average interest rate for loans was 4.66%, while their most frequently originated rate bucket for loans was 4-5%, with 225 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 279 $82,165,000 $294,498 $7,116 4.50%
    $100k-200k 161 $23,445,000 $145,621 $5,046 4.09%
    $400k-600k 87 $41,525,000 $477,299 $9,871 4.71%
    $100,000 or less 35 $2,435,000 $69,571 $2,797 5.27%
    $600k-1MM 15 $9,905,000 $660,333 $12,696 4.53%

    2022 saw First Community Credit Union place emphasis on $200k-400k loans with 279 originations, totaling $82,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 170 $50,960,000 $299,765 $7,176 4.46%
    $150k-250k 126 $46,360,000 $367,937 $8,155 4.55%
    $50k-75k 108 $18,570,000 $171,944 $5,268 4.34%
    $75k-100k 95 $21,885,000 $230,368 $6,294 4.23%
    $250k+ 42 $17,680,000 $420,952 $9,091 4.79%
    $50k or less 36 $4,020,000 $111,667 $4,282 4.78%

    First Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 170 originations. The second most popular income band? $150k-250k, with 126 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 124 $34,430,000 $277,661 $6,929 4.47%
    20-30% 111 $30,735,000 $276,892 $6,840 4.03%
    <20% 39 $9,335,000 $239,359 $6,391 4.52%
    42% 37 $10,555,000 $285,270 $7,007 4.92%
    38% 34 $9,950,000 $292,647 $6,745 4.50%
    43% 26 $6,890,000 $265,000 $6,224 4.47%
    44% 25 $7,125,000 $285,000 $6,943 4.36%
    41% 24 $6,300,000 $262,500 $6,605 4.75%
    39% 24 $6,470,000 $269,583 $7,891 4.46%
    37% 22 $7,360,000 $334,545 $7,039 4.77%
    36% 20 $4,720,000 $236,000 $6,334 4.59%
    40% 19 $4,445,000 $233,947 $6,201 4.32%
    48% 19 $5,585,000 $293,947 $6,839 4.99%
    49% 14 $4,330,000 $309,286 $7,885 4.83%
    45% 14 $3,960,000 $282,857 $7,076 4.24%
    47% 14 $4,180,000 $298,571 $6,897 4.73%
    46% 11 $3,105,000 $282,273 $6,534 4.47%

    First Community Credit Union lent most frequently to those with DTI ratios of 30-36%, with 124 originations. The next most common DTI ratio? 20-30%, with 111 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 295 $77,115,000 $261,407 $6,623 4.41%
    Not provided 150 $41,850,000 $279,000 $6,804 4.54%
    Black 81 $24,325,000 $300,309 $7,072 4.52%
    Asian 46 $14,720,000 $320,000 $7,880 4.48%
    American Indian 3 $745,000 $248,333 $7,028 4.58%
    Native Hawaiian or Islander 1 $425,000 $425,000 $8,504 4.00%
    Other Asian 1 $295,000 $295,000 $8,821 3.25%

    Approval Rates

    Total approvals of all applications
    89.28%

    First Community Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    48.53%

    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 577 $159,475,000 $276,386

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    577 $159,475,000 $276,386

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 47 $5,505,000 $117,128 $4,276 4.51%
    40-60% 89 $16,505,000 $185,449 $5,564 4.16%
    60-80% 195 $56,785,000 $291,205 $6,935 4.26%
    80-100% 234 $79,840,000 $341,197 $7,976 4.65%
    Under 20% 12 $840,000 $70,000 $2,369 6.21%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST GUARANTY MORTGAGE CORP Conventional home mortgage Struggling to pay mortgage 1 100.0%