Mct Credit Union Mortgage Rates, Fees & Info

Port Neches, TX

LEI: 549300GV8F4RLYWAB272

Tax ID: 74-1255147

5 stars - Updated: 4/5/25 - out of 5 stars, based on 11 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

    Mct Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Mct Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Beaumont, Houston, San Antonio, and College Station among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mct 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. Mct Credit Union 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.01% 4/5/25
    15 Year Conventional Purchase 6.38% 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.

    Mct Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Mct 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

    131

    Origination Dollar Volume (All Markets)

    $17,525,000

    Relative Rate

    Mct Credit Union's average 30 year fixed mortgage rate was 6.66%.

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

    This yields a difference of 0.11%.

    Relative Fees (Closing Costs)

    Mct Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,522.

    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
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 113 $14,305,000 $126,593 $1,886 6.45%
    Outside of Metro Areas 12 $1,700,000 $141,667 $2,348 6.55%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 4 $920,000 $230,000 $3,452 6.78%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $525,000 $525,000 $10,519 7.38%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $75,000 $75,000 $781 6.75%
    Mct Credit Union's top markets include Beaumont, Houston, San Antonio, and College Station among others.

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

    • Similar Lenders

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

    MCT Credit Union
    Similarity Rank: 70
    NECHES
    Similarity Rank: 72
    DSLD MORTGAGE, LLC
    Similarity Rank: 147
    MOBILOIL
    Similarity Rank: 176
    Hamilton Mortgage Corporation
    Similarity Rank: 1189
    City Bank
    Similarity Rank: 2340
    DHI MORTGAGE COMPANY, LTD.
    Similarity Rank: 3159
    First Financial Bank
    Similarity Rank: 3577
    NATIONS RELIABLE LENDING, LLC
    Similarity Rank: 4114
    Network Funding, L.P.
    Similarity Rank: 5358

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 131 $17,525,000 $133,779 $2,039 6.48%

    For 2024, Mct Credit Union's most frequently originated type of loan was Conventional, with 131 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 39 $8,885,000 $227,821 $5,044 6.70%
    Home Improvement 39 $2,935,000 $75,256 $859 6.47%
    Cash Out Refi 34 $4,200,000 $123,529 $1,001 6.32%
    Other 19 $1,505,000 $79,211 $732 6.32%

    For 2024, Mct Credit Union's most frequently cited loan purpose was Home Purchase, with 39 originations. The 2nd most popular reason was Home Improvement, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 68 $7,030,000 $103,382 $977 6.49%
    30 Year 27 $6,835,000 $253,148 $5,522 6.66%
    10 Year 17 $1,155,000 $67,941 $760 6.00%
    15 Year 11 $1,395,000 $126,818 $2,396 6.20%
    5 Year 6 $830,000 $138,333 $627 7.67%
    Other 2 $280,000 $140,000 $756 5.75%

    For 2024, Mct Credit Union's most frequently cited loan duration was 20 Year, with 68 originations. The 2nd most popular length was 30 Year, with 27 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 100 $11,290,000 $112,900
    $1k-2k 9 $855,000 $95,000
    $2k-3k 9 $1,665,000 $185,000
    $3k-4k 5 $1,445,000 $289,000
    $5k+ 2 $1,130,000 $565,000
    $4k-5k 1 $365,000 $365,000

    Mct Credit Union's average total fees were $5,522, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 100 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 91 $10,955,000 $120,385
    5-6% 22 $3,180,000 $144,545
    7-8% 16 $3,170,000 $198,125
    Over 8% 2 $220,000 $110,000

    During 2024, Mct Credit Union's average interest rate for loans was 6.66%, while their most frequently originated rate bucket for loans was 6-7%, with 91 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 66 $3,750,000 $56,818 $1,023 6.44%
    $100k-200k 40 $5,750,000 $143,750 $2,162 6.52%
    $200k-400k 20 $5,490,000 $274,500 $4,100 6.53%
    $400k-600k 4 $1,930,000 $482,500 $5,661 6.41%
    $600k-1MM 1 $605,000 $605,000 $11,914 7.38%

    2024 saw Mct Credit Union place emphasis on $100,000 or less loans with 66 originations, totaling $3,750,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 37 $4,955,000 $133,919 $1,976 6.39%
    $150k-250k 33 $5,245,000 $158,939 $2,458 6.58%
    $50k-75k 25 $2,365,000 $94,600 $1,717 6.50%
    $75k-100k 13 $1,585,000 $121,923 $2,028 6.22%
    $50k or less 11 $605,000 $55,000 $971 6.38%
    $250k+ 9 $2,195,000 $243,889 $3,073 6.49%

    Mct Credit Union lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $150k-250k, with 33 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 35 $4,685,000 $133,857 $2,043 6.46%
    30-36% 28 $4,410,000 $157,500 $2,048 6.38%
    <20% 17 $1,235,000 $72,647 $1,870 6.45%
    43% 11 $1,395,000 $126,818 $1,373 6.35%
    40% 6 $1,240,000 $206,667 $4,958 6.88%
    42% 5 $525,000 $105,000 $1,597 6.63%
    41% 4 $760,000 $190,000 $3,703 6.66%
    37% 4 $200,000 $50,000 $971 6.31%
    38% 3 $495,000 $165,000 $1,739 6.25%
    45% 3 $225,000 $75,000 $645 6.17%
    36% 3 $455,000 $151,667 $1,446 6.33%
    39% 2 $180,000 $90,000 $641 6.13%
    44% 2 $210,000 $105,000 $616 6.50%
    46% 1 $295,000 $295,000 $6,983 7.13%
    47% 1 $185,000 $185,000 $808 5.75%
    48% 1 $245,000 $245,000 $627 6.25%
    49% 1 $185,000 $185,000 $5,674 6.63%
    50-60% 1 $25,000 $25,000 $627 7.75%

    Mct Credit Union lent most frequently to those with DTI ratios of 20-30%, with 35 originations. The next most common DTI ratio? 30-36%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 112 $14,900,000 $133,036 $2,037 6.48%
    Not provided 6 $620,000 $103,333 $1,789 6.38%
    Asian 3 $595,000 $198,333 $3,523 5.96%
    Not applicable 3 $575,000 $191,667 $0 7.83%
    Black 6 $470,000 $78,333 $636 6.25%
    American Indian 1 $365,000 $365,000 $7,823 5.88%

    Approval Rates

    Total approvals of all applications
    88.27%

    Mct Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.84%

    Mct Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 131 $17,525,000 $133,779

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    131 $17,525,000 $133,779

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $2,340,000 $90,000 $855 6.38%
    40-60% 23 $3,365,000 $146,304 $1,348 6.24%
    60-80% 28 $4,580,000 $163,571 $2,372 6.49%
    80-100% 27 $6,045,000 $223,889 $4,801 6.70%
    Under 20% 27 $1,195,000 $44,259 $775 6.54%