Mtcu Mortgage Rates, Fees & Info

Midland, TX

LEI: 549300G5VZZVVGOY0N31

Tax ID: 75-1100957

5 stars - Updated: 4/5/25 - out of 5 stars, based on 7 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Mtcu is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Mtcu has a high proportion of conventional loans. Their top two markets are Midland and Odessa .

    Mtcu has an above average approval rate when compared to the average across all lenders. Mtcu 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.

    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 6.72% 4/5/25
    30 Year Cash-out Refi 6.72% 4/5/25
    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.

    Mtcu Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Mtcu. 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

    55

    Origination Dollar Volume (All Markets)

    $9,325,000

    Awards

    MTCU 30 Year Conventional Loans bronze MTCU 30 Year Conventional Loans gold MTCU 30 Year Conventional Loans gold
    Show all (3) awards

    Relative Rate

    Mtcu's average 30 year fixed mortgage rate was 5.95%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.6%.

    Relative Fees (Closing Costs)

    Mtcu's average total fees/closing costs for a 30 year fixed rate mortgage were $6,201.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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
    MIDLAND, TX (FHA|USDA|VA) 52 $8,480,000 $163,077 $4,480 6.07%
    ODESSA, TX (FHA|USDA|VA) 3 $845,000 $281,667 $7,560 6.44%
    Mtcu's top markets include Midland and Odessa among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against MTCU based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    MTCU
    Similarity Rank: 16
    Frost Bank
    Similarity Rank: 506
    LRS FINANCIAL NETWORK, INC.
    Similarity Rank: 630
    DIRECTIONS EQUITY, LLC
    Similarity Rank: 924
    Prosperity Bank
    Similarity Rank: 1125
    CHEVRON
    Similarity Rank: 1240
    City Bank
    Similarity Rank: 2145
    DHI MORTGAGE COMPANY, LTD.
    Similarity Rank: 2430
    GUARANTEED RATE AFFINITY, LLC
    Similarity Rank: 3591
    PREMIA MORTGAGE, LLC
    Similarity Rank: 3936

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 55 $9,325,000 $169,545 $4,648 6.09%

    For 2024, Mtcu's most frequently originated type of loan was Conventional, with 55 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 45 $7,095,000 $157,667 $4,468 5.95%
    Home Purchase 7 $1,985,000 $283,571 $6,549 6.84%
    Refi 3 $245,000 $81,667 $2,911 6.41%

    For 2024, Mtcu's most frequently cited loan purpose was Cash Out Refi, with 45 originations. The 2nd most popular reason was Home Purchase, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 24 $6,070,000 $252,917 $6,201 5.95%
    15 Year 17 $1,945,000 $114,412 $3,641 5.92%
    20 Year 11 $1,125,000 $102,273 $3,352 6.69%
    10 Year 3 $185,000 $61,667 $2,677 6.02%

    For 2024, Mtcu's most frequently cited loan duration was 30 Year, with 24 originations. The 2nd most popular length was 15 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 19 $2,825,000 $148,684
    $<1k 18 $1,010,000 $56,111
    $2k-3k 13 $3,185,000 $245,000
    $4k-5k 3 $1,435,000 $478,333
    $3k-4k 1 $305,000 $305,000
    $5k+ 1 $565,000 $565,000

    Mtcu's average total fees were $6,201, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 19 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 26 $5,090,000 $195,769
    6-7% 25 $3,435,000 $137,400
    4-5% 2 $460,000 $230,000
    7-8% 2 $340,000 $170,000

    During 2024, Mtcu's average interest rate for loans was 5.95%, while their most frequently originated rate bucket for loans was 5-6%, with 26 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 19 $2,795,000 $147,105 $4,338 5.92%
    $100,000 or less 18 $1,010,000 $56,111 $2,453 6.36%
    $200k-400k 14 $3,520,000 $251,429 $6,226 6.07%
    $400k-600k 4 $2,000,000 $500,000 $10,473 5.75%

    2024 saw Mtcu place emphasis on $100k-200k loans with 19 originations, totaling $2,795,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 19 $3,345,000 $176,053 $4,723 6.34%
    $150k-250k 13 $2,325,000 $178,846 $4,848 6.16%
    $75k-100k 8 $1,270,000 $158,750 $4,122 5.79%
    $250k+ 6 $1,460,000 $243,333 $6,783 6.06%
    $50k-75k 5 $625,000 $125,000 $3,571 5.81%
    $50k or less 4 $300,000 $75,000 $2,833 5.68%

    Mtcu lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $150k-250k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 11 $1,895,000 $172,273 $4,309 6.23%
    30-36% 11 $1,475,000 $134,091 $4,099 6.14%
    42% 8 $1,830,000 $228,750 $5,847 6.01%
    39% 6 $1,190,000 $198,333 $4,999 5.87%
    <20% 5 $855,000 $171,000 $5,384 6.13%
    40% 4 $990,000 $247,500 $6,423 5.70%
    37% 3 $565,000 $188,333 $4,311 6.06%
    41% 3 $285,000 $95,000 $3,340 6.41%
    38% 2 $150,000 $75,000 $3,143 6.33%
    36% 2 $90,000 $45,000 $2,254 6.07%

    Mtcu lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? 30-36%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 46 $8,490,000 $184,565 $4,997 6.02%
    Asian 3 $485,000 $161,667 $3,650 6.44%
    Black 6 $350,000 $58,333 $2,472 6.44%

    Approval Rates

    Total approvals of all applications
    96.49%

    Mtcu has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 55 $9,325,000 $169,545

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    55 $9,325,000 $169,545

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $1,050,000 $87,500 $3,208 6.41%
    40-60% 3 $445,000 $148,333 $4,012 5.71%
    60-80% 18 $4,330,000 $240,556 $5,789 5.63%
    80-100% 10 $2,540,000 $254,000 $6,123 6.17%
    Under 20% 12 $960,000 $80,000 $3,305 6.48%