Texas Dow Employees Credit Union Mortgage Rates, Fees & Info

Lake Jackson, TX

LEI: 549300I7M2M0Q6LCLA63

Tax ID: 74-1260543

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

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Mortgage Data

Review & Overview

Texas Dow Employees Credit Union is a smaller credit union specializing in Home Purchase and Refi 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, Austin, and Bay City among others. We have data for 42 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 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 7.19% 3/28/24
30 Year Conventional Refi 6.77% 3/28/24
30 Year Cash-out Refi 7.28% 3/28/24
30 Year FHA Purchase 7.20% 3/28/24
30 Year VA Purchase 6.14% 3/28/24
15 Year Conventional Purchase 5.90% 3/28/24
15 Year Conventional Refi 6.14% 3/28/24
15 Year Cash-out Refi 6.14% 3/28/24
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

3,915

Origination Dollar Volume (All Markets)

$856,175,000

Awards

TEXAS DOW EMPLOYEES CREDIT UNION 30 Year Conventional Loans gold
Show all (1) awards

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) 2,917 $652,345,000 $223,636 $5,014 3.58%
VICTORIA, TX (FHA|USDA|VA) 304 $53,550,000 $176,151 $4,294 3.69%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 151 $37,805,000 $250,364 $5,399 3.65%
Outside of Metro Areas 188 $34,130,000 $181,543 $4,606 3.72%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 54 $16,130,000 $298,704 $6,210 3.26%
Bay City, TX (FHA|USDA|VA) 75 $13,225,000 $176,333 $4,757 3.64%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 46 $10,540,000 $229,130 $5,251 3.66%
Port Lavaca, TX (FHA|USDA|VA) 47 $7,445,000 $158,404 $3,907 3.78%
El Campo, TX (FHA|USDA|VA) 29 $5,905,000 $203,621 $4,917 3.65%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 16 $4,710,000 $294,375 $4,956 3.76%
CORPUS CHRISTI, TX (FHA|USDA|VA) 17 $4,005,000 $235,588 $5,617 3.75%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 10 $2,240,000 $224,000 $4,826 4.08%
Rockport, TX (FHA|USDA|VA) 6 $1,590,000 $265,000 $7,490 3.27%
Brenham, TX (FHA|USDA|VA) 3 $1,125,000 $375,000 $8,613 3.00%
Huntsville, TX (FHA|USDA|VA) 4 $1,080,000 $270,000 $7,570 3.59%
WACO, TX (FHA|USDA|VA) 3 $675,000 $225,000 $4,360 3.13%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 3 $645,000 $215,000 $5,207 3.13%
LUBBOCK, TX (FHA|USDA|VA) 2 $620,000 $310,000 $6,205 3.56%
Fredericksburg, TX (FHA|USDA|VA) 2 $590,000 $295,000 $6,242 3.13%
Paris, TX (FHA|USDA|VA) 4 $550,000 $137,500 $3,655 3.22%
Lufkin, TX (FHA|USDA|VA) 2 $520,000 $260,000 $7,438 3.38%
SAN ANGELO, TX (FHA|USDA|VA) 2 $510,000 $255,000 $5,697 4.06%
TYLER, TX (FHA|USDA|VA) 2 $510,000 $255,000 $5,561 3.38%
LONGVIEW, TX (FHA|USDA|VA) 3 $485,000 $161,667 $4,696 3.83%
Granbury, TX (FHA|USDA|VA) 2 $440,000 $220,000 $4,616 3.63%
ABILENE, TX (FHA|USDA|VA) 2 $410,000 $205,000 $5,037 4.06%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $405,000 $405,000 $6,281 3.75%
Stephenville, TX (FHA|USDA|VA) 2 $400,000 $200,000 $4,733 3.31%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $385,000 $385,000 $9,234 3.75%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 2 $370,000 $185,000 $4,448 3.94%
MIDLAND, TX (FHA|USDA|VA) 1 $355,000 $355,000 $6,860 3.25%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 3 $345,000 $115,000 $3,853 2.46%
Kingsville, TX (FHA|USDA|VA) 2 $330,000 $165,000 $4,870 3.75%
Jacksonville, TX (FHA|USDA|VA) 1 $305,000 $305,000 $5,150 2.75%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $265,000 $265,000 $4,499 2.63%
Athens, TX (FHA|USDA|VA) 1 $255,000 $255,000 $4,622 3.13%
Russellville, AR (FHA|USDA|VA) 1 $245,000 $245,000 $4,009 3.75%
Palestine, TX (FHA|USDA|VA) 1 $215,000 $215,000 $1,196 3.50%
Borger, TX (FHA|USDA|VA) 1 $175,000 $175,000 $4,585 2.63%
LAREDO, TX (FHA|USDA|VA) 1 $145,000 $145,000 $3,109 3.13%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $105,000 $105,000 $5,443 3.75%
Mineral Wells, TX (FHA|USDA|VA) 1 $95,000 $95,000 $3,281 4.88%
Texas Dow Employees Credit Union's top markets include Houston, Victoria, Dallas, Austin, and Bay City among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Similar Lenders

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,895 $851,535,000 $218,623 $4,942 3.59%
    FHA 15 $3,025,000 $201,667 $8,514 4.09%
    VA 5 $1,615,000 $323,000 $11,692 3.55%

    For 2020, Texas Dow Employees Credit Union's most frequently originated type of loan was Conventional, with 3,895 originations. Their 2nd most popular type was FHA, with 15 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,739 $422,275,000 $242,826 $6,169 3.88%
    Refi 1,235 $269,135,000 $217,923 $4,269 3.08%
    Cash Out Refi 755 $141,445,000 $187,344 $3,905 3.63%
    Other 162 $21,570,000 $133,148 $2,572 3.81%
    Home Improvement 24 $1,750,000 $72,917 $2,795 6.67%

    For 2020, Texas Dow Employees Credit Union's most frequently cited loan purpose was Home Purchase, with 1,739 originations. The 2nd most popular reason was Refi, with 1,235 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,703 $635,795,000 $235,218 $5,461 3.75%
    15 Year 851 $160,185,000 $188,231 $4,047 3.02%
    20 Year 253 $43,055,000 $170,178 $3,553 3.89%
    10 Year 96 $12,640,000 $131,667 $2,771 3.37%
    5 Year 7 $2,465,000 $352,143 $0 4.67%
    Other 5 $2,035,000 $407,000 $6,116 3.90%

    For 2020, Texas Dow Employees Credit Union's most frequently cited loan duration was 30 Year, with 2,703 originations. The 2nd most popular length was 15 Year, with 851 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 1,186 $266,140,000 $224,401
    $1k-2k 1,090 $158,180,000 $145,119
    $<1k 654 $84,540,000 $129,266
    $3k-4k 578 $177,720,000 $307,474
    $4k-5k 217 $80,145,000 $369,332
    $5k+ 180 $84,390,000 $468,833

    Texas Dow Employees Credit Union's average total fees were $5,461, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 1,186 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,435 $312,005,000 $217,425
    4-5% 1,177 $255,675,000 $217,226
    2.5-3% 1,059 $237,985,000 $224,726
    <2.5% 191 $42,695,000 $223,534
    5-6% 29 $6,065,000 $209,138
    6-7% 21 $1,455,000 $69,286
    7-8% 3 $295,000 $98,333

    During 2020, Texas Dow Employees Credit Union's average interest rate for loans was 3.75%, while their most frequently originated rate bucket for loans was 3-4%, with 1,435 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,720 $464,040,000 $269,791 $5,934 3.53%
    $100k-200k 1,618 $248,070,000 $153,319 $3,774 3.58%
    $100,000 or less 352 $27,350,000 $77,699 $2,297 3.99%
    $400k-600k 191 $87,925,000 $460,340 $9,563 3.52%
    $600k-1MM 27 $19,675,000 $728,704 $14,338 3.99%
    $1MM+ 7 $9,115,000 $1,302,143 $21,800 3.80%

    2020 saw Texas Dow Employees Credit Union place emphasis on $200k-400k loans with 1,720 originations, totaling $464,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,126 $262,300,000 $232,948 $5,218 3.51%
    $50k-75k 842 $142,570,000 $169,323 $4,209 3.73%
    $75k-100k 832 $164,860,000 $198,149 $4,559 3.61%
    $150k-250k 648 $184,840,000 $285,247 $6,165 3.43%
    $50k or less 296 $37,670,000 $127,264 $3,455 3.86%
    $250k+ 128 $52,670,000 $411,484 $8,321 3.41%

    Texas Dow Employees Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,126 originations. The second most popular income band? $50k-75k, with 842 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 793 $162,425,000 $204,823 $4,659 3.33%
    30-36% 749 $163,185,000 $217,870 $5,024 3.56%
    44% 276 $64,060,000 $232,101 $5,284 3.89%
    42% 263 $60,745,000 $230,970 $5,104 3.81%
    <20% 247 $48,395,000 $195,931 $4,273 3.23%
    43% 240 $53,330,000 $222,208 $5,245 3.82%
    41% 232 $52,590,000 $226,681 $5,129 3.81%
    40% 228 $50,450,000 $221,272 $5,205 3.78%
    39% 172 $35,610,000 $207,035 $4,763 3.69%
    36% 166 $36,080,000 $217,349 $4,877 3.74%
    37% 157 $32,925,000 $209,713 $4,811 3.77%
    38% 153 $34,235,000 $223,758 $4,971 3.66%
    45% 47 $11,745,000 $249,894 $5,669 3.18%
    46% 39 $9,145,000 $234,487 $5,224 3.13%
    48% 39 $8,135,000 $208,590 $4,929 3.23%
    47% 36 $10,440,000 $290,000 $6,223 3.44%
    49% 35 $8,135,000 $232,429 $5,335 3.19%
    50-60% 27 $7,805,000 $289,074 $7,086 4.60%
    >60% 6 $1,680,000 $280,000 $4,472 4.17%

    Texas Dow Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 793 originations. The next most common DTI ratio? 30-36%, with 749 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,732 $576,360,000 $210,966 $4,786 3.58%
    Not provided 641 $145,265,000 $226,622 $5,239 3.59%
    Black 359 $86,875,000 $241,992 $5,556 3.81%
    Asian 141 $36,115,000 $256,135 $5,692 3.32%
    Not applicable 9 $4,945,000 $549,444 $0 4.66%
    American Indian 22 $4,330,000 $196,818 $4,761 3.72%
    Native Hawaiian or Islander 8 $1,690,000 $211,250 $5,082 3.73%
    Filipino 2 $320,000 $160,000 $3,577 2.56%
    Chinese 1 $275,000 $275,000 $6,295 3.38%

    Approval Rates

    Total approvals of all applications
    96.33%

    Texas Dow Employees Credit Union 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
    81.81%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,915 $856,175,000 $218,691

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $3,575,000 $715,000
    Single Family (1-4 Units):Site-Built 3,910 $852,600,000 $218,056

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 194 $21,810,000 $112,423 $2,679 3.60%
    40-60% 511 $81,475,000 $159,442 $3,565 3.23%
    60-80% 1,219 $272,425,000 $223,482 $4,710 3.34%
    80-100% 1,960 $475,730,000 $242,719 $5,718 3.82%
    Over 100% 13 $3,185,000 $245,000 $7,168 4.90%
    Under 20% 18 $1,550,000 $86,111 $2,709 5.66%