Mct Credit Union Mortgage Rates, Fees & Info

Port Neches, TX

LEI: 549300GV8F4RLYWAB272

Tax ID: 74-1255147

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
  • 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, Dallas, 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 above average approval rate when compared to the average across all lenders. They have an above 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.

    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 6.50% 12/16/24
    30 Year Conventional Refi 6.35% 12/16/24
    30 Year Cash-out Refi 6.27% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    15 Year Conventional Purchase 5.88% 12/16/24
    15 Year Conventional Refi 5.85% 12/16/24
    15 Year Cash-out Refi 5.85% 12/16/24
    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.

    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

    167

    Origination Dollar Volume (All Markets)

    $18,955,000

    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
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 147 $16,255,000 $110,578 $1,771 4.80%
    Outside of Metro Areas 11 $1,435,000 $130,455 $2,584 4.89%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 7 $1,025,000 $146,429 $2,325 4.73%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $185,000 $185,000 $469 5.50%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $55,000 $55,000 $499 4.25%
    Mct Credit Union's top markets include Beaumont, Houston, Dallas, 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: 125
    MOBILOIL
    Similarity Rank: 160
    EDUCATION FIRST
    Similarity Rank: 216
    First Financial Bank
    Similarity Rank: 826
    Town Square Mortgage & Investments, Inc.
    Similarity Rank: 1395
    Magnolia Bank
    Similarity Rank: 1539
    American Mortgage Bank, LLC
    Similarity Rank: 3500
    NAVY FEDERAL CREDIT UNION
    Similarity Rank: 3540
    Republic State Mortgage Co.
    Similarity Rank: 4929
    City Bank
    Similarity Rank: 5115

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 167 $18,955,000 $113,503 $1,833 4.80%

    For 2019, Mct Credit Union's most frequently originated type of loan was Conventional, with 167 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 66 $10,360,000 $156,970 $3,361 4.71%
    Cash Out Refi 49 $5,395,000 $110,102 $690 4.86%
    Home Improvement 30 $1,380,000 $46,000 $714 5.10%
    Other 16 $850,000 $53,125 $600 4.81%
    Refi 6 $970,000 $161,667 $4,555 3.81%

    For 2019, Mct Credit Union's most frequently cited loan purpose was Home Purchase, with 66 originations. The 2nd most popular reason was Cash Out Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 39 $3,205,000 $82,179 $859 5.39%
    10 Year 38 $3,280,000 $86,316 $693 4.15%
    30 Year 38 $7,740,000 $203,684 $4,083 4.48%
    15 Year 33 $3,015,000 $91,364 $1,898 4.75%
    5 Year 17 $1,535,000 $90,294 $588 5.81%
    Other 2 $180,000 $90,000 $517 4.00%

    For 2019, Mct Credit Union's most frequently cited loan duration was 20 Year, with 39 originations. The 2nd most popular length was 10 Year, with 38 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 119 $12,235,000 $102,815
    $2k-3k 17 $3,225,000 $189,706
    $1k-2k 14 $1,420,000 $101,429
    $3k-4k 3 $805,000 $268,333

    Mct Credit Union's average total fees were $4,083, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 119 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 69 $7,805,000 $113,116
    5-6% 61 $5,535,000 $90,738
    3-4% 28 $4,930,000 $176,071
    6-7% 9 $685,000 $76,111

    During 2019, Mct Credit Union's average interest rate for loans was 4.48%, while their most frequently originated rate bucket for loans was 4-5%, with 69 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 90 $4,910,000 $54,556 $1,030 4.94%
    $100k-200k 48 $6,710,000 $139,792 $2,286 4.82%
    $200k-400k 28 $6,850,000 $244,643 $3,400 4.38%
    $400k-600k 1 $485,000 $485,000 $3,289 3.75%

    2019 saw Mct Credit Union place emphasis on $100,000 or less loans with 90 originations, totaling $4,910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 63 $8,065,000 $128,016 $1,953 4.77%
    $75k-100k 30 $2,970,000 $99,000 $1,479 4.75%
    $50k-75k 28 $2,350,000 $83,929 $2,081 4.93%
    $150k-250k 25 $4,275,000 $171,000 $2,337 4.81%
    $50k or less 18 $970,000 $53,889 $1,221 4.81%
    $250k+ 3 $325,000 $108,333 $701 4.75%

    Mct Credit Union lent most frequently to those with incomes in the $100k-150k range, with 63 originations. The second most popular income band? $75k-100k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 62 $8,350,000 $134,677 $2,009 4.70%
    30-36% 35 $4,035,000 $115,286 $1,915 4.69%
    <20% 20 $1,480,000 $74,000 $1,569 4.98%
    42% 8 $850,000 $106,250 $2,094 4.56%
    39% 7 $825,000 $117,857 $1,263 4.71%
    40% 6 $620,000 $103,333 $697 5.25%
    44% 5 $305,000 $61,000 $503 4.45%
    38% 5 $455,000 $91,000 $2,141 4.85%
    37% 4 $590,000 $147,500 $2,101 5.09%
    36% 4 $470,000 $117,500 $1,136 4.84%
    43% 4 $340,000 $85,000 $2,487 5.06%
    >60% 2 $230,000 $115,000 $0 6.25%
    41% 2 $150,000 $75,000 $753 5.25%
    47% 1 $165,000 $165,000 $5,118 4.75%
    48% 1 $55,000 $55,000 $0 6.25%
    46% 1 $35,000 $35,000 $2,964 5.50%

    Mct Credit Union lent most frequently to those with DTI ratios of 20-30%, with 62 originations. The next most common DTI ratio? 30-36%, with 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 159 $18,335,000 $115,314 $1,872 4.81%
    Black 3 $335,000 $111,667 $2,196 4.83%
    Not provided 2 $110,000 $55,000 $495 4.25%
    American Indian 2 $100,000 $50,000 $490 4.50%
    Native Hawaiian or Islander 1 $75,000 $75,000 $490 5.00%

    Approval Rates

    Total approvals of all applications
    91.00%

    Mct Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.02%

    Mct Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 167 $18,955,000 $113,503

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 167 $18,955,000 $113,503

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $1,465,000 $54,259 $849 4.76%
    40-60% 26 $2,350,000 $90,385 $1,230 4.86%
    60-80% 45 $6,115,000 $135,889 $1,696 5.05%
    80-100% 39 $7,165,000 $183,718 $4,033 4.56%
    Under 20% 17 $565,000 $33,235 $692 4.78%