Datcu Mortgage Rates, Fees & Info
Corinth, TXLEI: 549300FOPGYPVP42FW34
Tax ID: 75-0813379
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Mortgage Data
Review & Overview
Datcu is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Datcu has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Dallas, Gainesville, Houston, Tyler, and Sherman among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Datcu 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. Datcu is typically a low 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 | 6.53% | 4/21/24 |
| 30 Year Conventional Refi | 6.34% | 4/21/24 |
| 30 Year Cash-out Refi | 6.50% | 4/21/24 |
| 30 Year FHA Purchase | 7.01% | 4/21/24 |
| 15 Year Conventional Purchase | 6.13% | 4/21/24 |
| 15 Year Conventional Refi | 6.13% | 4/21/24 |
| 15 Year Cash-out Refi | 6.13% | 4/21/24 |
| 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. | ||
Datcu Mortgage Calculator
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Originations
644Origination Dollar Volume (All Markets)
$114,600,000Awards
DATCU - 2020
DATCU is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 602 | $106,670,000 | $177,193 | $2,989 | 3.44% |
| Gainesville, TX (FHA|USDA|VA) | 14 | $2,940,000 | $210,000 | $3,295 | 3.47% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 6 | $1,250,000 | $208,333 | $3,394 | 3.10% |
| TYLER, TX (FHA|USDA|VA) | 4 | $1,190,000 | $297,500 | $4,021 | 2.84% |
| Outside of Metro Areas | 6 | $1,040,000 | $173,333 | $3,592 | 3.06% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 7 | $895,000 | $127,857 | $2,542 | 3.46% |
| Granbury, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,516 | 3.00% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,896 | 3.75% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,138 | 2.88% |
| WICHITA FALLS, TX (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $3,287 | 3.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against DATCU 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 | 593 | $109,955,000 | $185,422 | $2,935 | 3.35% |
| HELOC | 44 | $2,560,000 | $58,182 | n/a | 4.49% |
| FHA | 7 | $2,085,000 | $297,857 | $9,354 | 3.21% |
For 2020, Datcu's most frequently originated type of loan was Conventional, with 593 originations. Their 2nd most popular type was HELOC, with 44 originations.
Loan Reason
For 2020, Datcu's most frequently cited loan purpose was Refi, with 309 originations. The 2nd most popular reason was Cash Out Refi, with 236 originations.
Loan Duration/Length
For 2020, Datcu's most frequently cited loan duration was 30 Year, with 298 originations. The 2nd most popular length was 15 Year, with 248 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 598 | $111,710,000 | $186,806 |
| $1k-2k | 2 | $330,000 | $165,000 |
Datcu's average total fees were $3,641, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 598 originations.
Interest Rates
During 2020, Datcu's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 3-4%, with 269 originations.
Loan Sizing
2020 saw Datcu place emphasis on $200k-400k loans with 234 originations, totaling $62,680,000 in origination value.
Applicant Income
Datcu lent most frequently to those with incomes in the $100k-150k range, with 197 originations. The second most popular income band? $150k-250k, with 138 originations.
Applicant Debt to Income Ratio
Datcu lent most frequently to those with DTI ratios of <20%, with 327 originations. The next most common DTI ratio? 20-30%, with 193 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.13%
Datcu has a below average approval rate.
Pick Rate
Approvals leading to origination43.48%
Datcu 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 | 644 | $114,600,000 | $177,950 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 644 | $114,600,000 | $177,950 |