First Eagle Federal Credi Union Mortgage Rates, Fees & Info
Owings Mills, MDLEI: 549300I7G0WB7Z0BCX80
Tax ID: 52-0684204
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Mortgage Data
Review & Overview
First Eagle Federal Credi Union is a smaller credit union specializing in Other and Home Purchase loans. First Eagle Federal Credi Union has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Chicago, Nashville, Baltimore, and New Orleans among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)First Eagle Federal Credi 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 Eagle Federal Credi 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.04% | 10/29/24 |
| 15 Year Conventional Refi | 6.71% | 10/29/24 |
| 15 Year Cash-out Refi | 6.71% | 10/29/24 |
| 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 Eagle Federal Credi Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
33Origination Dollar Volume (All Markets)
$2,705,000Top 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) | 14 | $1,230,000 | $87,857 | $668 | 5.83% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 5 | $425,000 | $85,000 | $784 | 4.79% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 5 | $325,000 | $65,000 | $75 | 7.92% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 5 | $295,000 | $59,000 | $75 | 6.54% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $5,392 | 3.88% |
| Outside of Metro Areas | 2 | $100,000 | $50,000 | $1,791 | 4.20% |
| VICTORIA, TX (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $75 | 4.99% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 33 | $2,705,000 | $81,970 | $697 | 5.92% |
For 2019, First Eagle Federal Credi Union's most frequently originated type of loan was Conventional, with 33 originations.
Loan Reason
For 2019, First Eagle Federal Credi Union's most frequently cited loan purpose was Other, with 17 originations. The 2nd most popular reason was Home Improvement, with 8 originations.
Loan Duration/Length
For 2019, First Eagle Federal Credi Union's most frequently cited loan duration was 10 Year, with 10 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 27 | $1,575,000 | $58,333 |
| $1k-2k | 4 | $780,000 | $195,000 |
| $2k-3k | 1 | $285,000 | $285,000 |
First Eagle Federal Credi Union's average total fees were $3,480, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 27 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 20 | $1,630,000 | $81,500 |
| 6-7% | 4 | $200,000 | $50,000 |
| Over 8% | 4 | $300,000 | $75,000 |
| 3-4% | 3 | $445,000 | $148,333 |
| 5-6% | 2 | $130,000 | $65,000 |
During 2019, First Eagle Federal Credi Union's average interest rate for loans was 4.75%, while their most frequently originated rate bucket for loans was 4-5%, with 20 originations.
Loan Sizing
2019 saw First Eagle Federal Credi Union place emphasis on $100,000 or less loans with 26 originations, totaling $1,310,000 in origination value.
Applicant Income
First Eagle Federal Credi Union lent most frequently to those with incomes in the $150k-250k range, with 10 originations. The second most popular income band? $100k-150k, with 7 originations.
Applicant Debt to Income Ratio
First Eagle Federal Credi Union lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? 30-36%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.09%
First Eagle Federal Credi Union has a below average approval rate.
Pick Rate
Approvals leading to origination39.39%
First Eagle Federal Credi 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 | 33 | $2,705,000 | $81,970 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 33 | $2,705,000 | $81,970 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| First Technology Federal Credit Union | Conventional home mortgage | Trouble during payment process | 4 | 57.1% |
| First Technology Federal Credit Union | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
| First Technology Federal Credit Union | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
| First Technology Federal Credit Union | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 14.3% |