Texas Dow Employees Credit Union Mortgage Rates, Fees & Info

Lake Jackson, TX

LEI: 549300I7M2M0Q6LCLA63

Tax ID: 74-1260543

5 stars - Updated: 12/4/24 - out of 5 stars, based on 35 reviews

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

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Mortgage Data

Review & Overview

Texas Dow Employees Credit Union is a smaller credit union specializing in Home Purchase loans. Texas Dow Employees Credit Union 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: Houston, Victoria, Dallas, San Antonio, and Bay City among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)

Texas Dow Employees Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Texas Dow Employees Credit Union is typically an average 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 relatively high 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 7.19% 12/4/24
30 Year Conventional Refi 6.77% 12/4/24
30 Year Cash-out Refi 7.28% 12/4/24
30 Year FHA Purchase 7.20% 12/4/24
30 Year VA Purchase 6.14% 12/4/24
15 Year Conventional Purchase 5.90% 12/4/24
15 Year Conventional Refi 6.14% 12/4/24
15 Year Cash-out Refi 6.14% 12/4/24
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.

Texas Dow Employees Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Texas Dow Employees 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

1,214

Origination Dollar Volume (All Markets)

$284,770,000

Awards

TEXAS DOW EMPLOYEES CREDIT UNION 30 Year Conventional Loans gold TEXAS DOW EMPLOYEES CREDIT UNION 30 Year Conventional Loans bronze TEXAS DOW EMPLOYEES CREDIT UNION FHA Loans bronze
Show all (3) awards

Relative Rate

Texas Dow Employees Credit Union's average 30 year fixed mortgage rate was 7.23%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.75%.

Relative Fees (Closing Costs)

Texas Dow Employees Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $6,619.

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 $9,089.

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
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 856 $210,790,000 $246,250 $6,100 7.32%
VICTORIA, TX (FHA|USDA|VA) 116 $20,800,000 $179,310 $5,103 7.30%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 55 $14,595,000 $265,364 $5,942 7.70%
Outside of Metro Areas 82 $14,360,000 $175,122 $4,311 7.51%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 12 $3,730,000 $310,833 $7,459 7.28%
Bay City, TX (FHA|USDA|VA) 20 $3,710,000 $185,500 $4,467 7.58%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 10 $3,530,000 $353,000 $7,037 7.41%
Port Lavaca, TX (FHA|USDA|VA) 15 $2,515,000 $167,667 $5,425 7.46%
CORPUS CHRISTI, TX (FHA|USDA|VA) 11 $2,305,000 $209,545 $5,312 7.35%
Rockport, TX (FHA|USDA|VA) 3 $2,005,000 $668,333 $12,958 6.67%
El Campo, TX (FHA|USDA|VA) 11 $1,845,000 $167,727 $4,957 7.51%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 4 $1,200,000 $300,000 $9,219 7.03%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 2 $540,000 $270,000 $6,155 7.31%
Huntsville, TX (FHA|USDA|VA) 2 $440,000 $220,000 $3,936 7.19%
Kerrville, TX (FHA|USDA|VA) 1 $405,000 $405,000 $9,253 7.88%
Brenham, TX (FHA|USDA|VA) 2 $370,000 $185,000 $3,425 7.81%
Stephenville, TX (FHA|USDA|VA) 1 $365,000 $365,000 $8,186 8.00%
AMARILLO, TX (FHA|USDA|VA) 2 $210,000 $105,000 $3,365 8.19%
ABILENE, TX (FHA|USDA|VA) 1 $175,000 $175,000 $4,602 7.50%
Pampa, TX (FHA|USDA|VA) 2 $170,000 $85,000 $3,008 6.88%
WACO, TX (FHA|USDA|VA) 1 $155,000 $155,000 $4,609 7.00%
Palestine, TX (FHA|USDA|VA) 1 $135,000 $135,000 $6,641 7.00%
Pearsall, TX (FHA|USDA|VA) 1 $135,000 $135,000 $5,433 7.63%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $125,000 $125,000 $3,671 7.38%
Levelland, TX (FHA|USDA|VA) 1 $105,000 $105,000 $3,371 9.00%
Lufkin, TX (FHA|USDA|VA) 1 $55,000 $55,000 $2,673 9.50%
Texas Dow Employees Credit Union's top markets include Houston, Victoria, Dallas, San Antonio, and Bay City among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,180 $275,280,000 $233,288 $5,714 7.38%
    FHA 27 $6,935,000 $256,852 $10,647 6.65%
    VA 7 $2,555,000 $365,000 $10,163 6.55%

    For 2023, Texas Dow Employees Credit Union's most frequently originated type of loan was Conventional, with 1,180 originations. Their 2nd most popular type was FHA, with 27 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 812 $227,520,000 $280,197 $7,287 7.08%
    Other 248 $25,400,000 $102,419 $2,171 8.07%
    Cash Out Refi 137 $28,415,000 $207,409 $4,097 7.79%
    Refi 15 $3,175,000 $211,667 $5,187 6.62%
    Home Improvement 2 $260,000 $130,000 $4,065 10.13%

    For 2023, Texas Dow Employees Credit Union's most frequently cited loan purpose was Home Purchase, with 812 originations. The 2nd most popular reason was Other, with 248 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 948 $249,590,000 $263,281 $6,619 7.23%
    20 Year 159 $16,395,000 $103,113 $2,139 8.16%
    15 Year 67 $8,495,000 $126,791 $3,228 7.09%
    30+ year 20 $8,260,000 $413,000 $11,318 7.83%
    10 Year 19 $1,725,000 $90,789 $1,610 7.80%
    Other 1 $305,000 $305,000 $9,645 6.25%

    For 2023, Texas Dow Employees Credit Union's most frequently cited loan duration was 30 Year, with 948 originations. The 2nd most popular length was 20 Year, with 159 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 283 $65,155,000 $230,230
    $<1k 256 $24,970,000 $97,539
    $1k-2k 218 $31,540,000 $144,679
    $3k-4k 204 $61,280,000 $300,392
    $5k+ 149 $68,605,000 $460,436
    $4k-5k 85 $31,355,000 $368,882

    Texas Dow Employees Credit Union's average total fees were $6,619, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 283 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 547 $134,135,000 $245,219
    6-7% 317 $85,775,000 $270,584
    Over 8% 248 $36,200,000 $145,968
    5-6% 102 $28,660,000 $280,980

    During 2023, Texas Dow Employees Credit Union's average interest rate for loans was 7.23%, while their most frequently originated rate bucket for loans was 7-8%, with 547 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 532 $147,900,000 $278,008 $7,033 7.12%
    $100k-200k 359 $52,535,000 $146,337 $4,086 7.43%
    $100,000 or less 191 $13,475,000 $70,550 $1,686 8.11%
    $400k-600k 103 $48,105,000 $467,039 $10,588 7.06%
    $600k-1MM 25 $17,555,000 $702,200 $15,477 7.02%
    $1MM+ 4 $5,200,000 $1,300,000 $22,882 7.09%

    2023 saw Texas Dow Employees Credit Union place emphasis on $200k-400k loans with 532 originations, totaling $147,900,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 374 $89,420,000 $239,091 $6,096 7.29%
    $150k-250k 246 $76,380,000 $310,488 $7,301 7.38%
    $50k-75k 234 $37,570,000 $160,556 $4,545 7.35%
    $75k-100k 229 $44,025,000 $192,249 $4,962 7.45%
    $50k or less 66 $7,230,000 $109,545 $3,185 7.55%
    $250k+ 63 $29,635,000 $470,397 $9,676 7.23%

    Texas Dow Employees Credit Union lent most frequently to those with incomes in the $100k-150k range, with 374 originations. The second most popular income band? $150k-250k, with 246 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 198 $43,100,000 $217,677 $5,435 7.34%
    44% 145 $36,795,000 $253,759 $6,017 7.51%
    20-30% 134 $29,250,000 $218,284 $5,442 7.11%
    43% 132 $32,390,000 $245,379 $5,945 7.51%
    42% 105 $24,995,000 $238,048 $5,699 7.52%
    41% 86 $21,260,000 $247,209 $6,316 7.48%
    40% 80 $17,260,000 $215,750 $5,264 7.56%
    39% 71 $15,665,000 $220,634 $5,832 7.35%
    38% 61 $16,175,000 $265,164 $6,397 7.43%
    37% 53 $10,755,000 $202,925 $5,178 7.32%
    36% 44 $10,230,000 $232,500 $5,741 7.51%
    <20% 25 $4,635,000 $185,400 $4,643 7.24%
    46% 22 $6,060,000 $275,455 $8,059 6.86%
    47% 17 $4,415,000 $259,706 $7,458 6.51%
    45% 15 $4,665,000 $311,000 $8,904 6.23%
    48% 13 $3,185,000 $245,000 $6,771 6.84%
    50-60% 7 $2,635,000 $376,429 $10,745 7.61%
    49% 6 $1,300,000 $216,667 $4,607 6.88%

    Texas Dow Employees Credit Union lent most frequently to those with DTI ratios of 30-36%, with 198 originations. The next most common DTI ratio? 44%, with 145 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 829 $188,905,000 $227,871 $5,774 7.36%
    Not provided 213 $49,485,000 $232,324 $5,766 7.22%
    Black 112 $28,770,000 $256,875 $5,835 7.69%
    Asian 45 $14,795,000 $328,778 $8,131 7.08%
    American Indian 9 $1,345,000 $149,444 $3,565 7.86%
    Filipino 2 $470,000 $235,000 $4,507 7.88%
    Native Hawaiian 1 $415,000 $415,000 $14,099 5.75%
    Native Hawaiian or Islander 2 $360,000 $180,000 $3,106 7.25%
    Asian Indian 1 $225,000 $225,000 $5,351 7.50%

    Approval Rates

    Total approvals of all applications
    93.36%

    Texas Dow Employees Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.03%

    Texas Dow Employees Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,214 $284,770,000 $234,572

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,214 $284,770,000 $234,572

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 112 $11,300,000 $100,893 $2,564 7.79%
    40-60% 103 $18,245,000 $177,136 $4,290 7.12%
    60-80% 236 $59,060,000 $250,254 $6,042 7.26%
    80-100% 651 $182,785,000 $280,776 $7,144 7.21%
    Over 100% 23 $7,055,000 $306,739 $8,037 7.66%
    Under 20% 89 $6,325,000 $71,067 $1,254 8.39%