Texas Dow Employees Credit Union Mortgage Rates, Fees & Info
Lake Jackson, TXLEI: 549300I7M2M0Q6LCLA63
Tax ID: 74-1260543
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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, San Antonio, and Bay City among others. We have data for 36 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.19% | 4/21/24 |
| 30 Year Conventional Refi | 6.77% | 4/21/24 |
| 30 Year Cash-out Refi | 7.28% | 4/21/24 |
| 30 Year FHA Purchase | 7.20% | 4/21/24 |
| 30 Year VA Purchase | 6.14% | 4/21/24 |
| 15 Year Conventional Purchase | 5.90% | 4/21/24 |
| 15 Year Conventional Refi | 6.14% | 4/21/24 |
| 15 Year Cash-out Refi | 6.14% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,971Origination Dollar Volume (All Markets)
$662,595,000Top 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) | 2,127 | $485,235,000 | $228,131 | $5,252 | 3.41% |
| VICTORIA, TX (FHA|USDA|VA) | 262 | $45,800,000 | $174,809 | $4,423 | 3.52% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 110 | $33,570,000 | $305,182 | $6,419 | 3.63% |
| Outside of Metro Areas | 174 | $32,330,000 | $185,805 | $4,870 | 3.47% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 51 | $12,885,000 | $252,647 | $5,675 | 3.52% |
| Bay City, TX (FHA|USDA|VA) | 68 | $11,620,000 | $170,882 | $4,537 | 3.47% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 22 | $7,570,000 | $344,091 | $7,236 | 3.11% |
| Port Lavaca, TX (FHA|USDA|VA) | 39 | $6,405,000 | $164,231 | $4,431 | 3.53% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 23 | $5,485,000 | $238,478 | $5,588 | 3.73% |
| El Campo, TX (FHA|USDA|VA) | 17 | $4,065,000 | $239,118 | $5,323 | 3.76% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 10 | $3,070,000 | $307,000 | $6,727 | 3.36% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 15 | $2,785,000 | $185,667 | $4,805 | 3.57% |
| Rockport, TX (FHA|USDA|VA) | 5 | $1,665,000 | $333,000 | $6,636 | 2.95% |
| Huntsville, TX (FHA|USDA|VA) | 6 | $1,290,000 | $215,000 | $5,230 | 3.50% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 7 | $975,000 | $139,286 | $3,852 | 3.48% |
| WACO, TX (FHA|USDA|VA) | 4 | $950,000 | $237,500 | $6,401 | 3.53% |
| TYLER, TX (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $6,235 | 3.46% |
| Brenham, TX (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $6,087 | 3.67% |
| LONGVIEW, TX (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $7,794 | 3.13% |
| Lufkin, TX (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $7,176 | 4.13% |
| Granbury, TX (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $5,248 | 2.63% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $9,211 | 2.75% |
| LUBBOCK, TX (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $3,828 | 3.58% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $9,285 | 2.75% |
| Athens, TX (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,642 | 3.25% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,157 | 2.25% |
| Paris, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $14,832 | 3.50% |
| Pampa, TX (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $3,939 | 3.88% |
| Kingsville, TX (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $3,693 | 4.06% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,477 | 3.00% |
| Corsicana, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,811 | 3.13% |
| Vernon, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,546 | 4.00% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,484 | 3.88% |
| Eagle Pass, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,433 | 4.25% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $4,037 | 3.50% |
| Pearsall, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,071 | 3.63% |
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 | 2,953 | $657,955,000 | $222,809 | $5,180 | 3.44% |
| FHA | 12 | $2,660,000 | $221,667 | $9,170 | 3.33% |
| VA | 6 | $1,980,000 | $330,000 | $9,750 | 3.40% |
For 2021, Texas Dow Employees Credit Union's most frequently originated type of loan was Conventional, with 2,953 originations. Their 2nd most popular type was FHA, with 12 originations.
Loan Reason
For 2021, Texas Dow Employees Credit Union's most frequently cited loan purpose was Home Purchase, with 1,435 originations. The 2nd most popular reason was Refi, with 763 originations.
Loan Duration/Length
For 2021, Texas Dow Employees Credit Union's most frequently cited loan duration was 30 Year, with 2,074 originations. The 2nd most popular length was 15 Year, with 584 originations.
Origination Fees/Closing Costs
Texas Dow Employees Credit Union's average total fees were $5,625, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 906 originations.
Interest Rates
During 2021, Texas Dow Employees Credit Union's average interest rate for loans was 3.66%, while their most frequently originated rate bucket for loans was 3-4%, with 1,183 originations.
Loan Sizing
2021 saw Texas Dow Employees Credit Union place emphasis on $200k-400k loans with 1,246 originations, totaling $336,920,000 in origination value.
Applicant Income
Texas Dow Employees Credit Union lent most frequently to those with incomes in the $100k-150k range, with 792 originations. The second most popular income band? $50k-75k, with 687 originations.
Applicant Debt to Income Ratio
Texas Dow Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 546 originations. The next most common DTI ratio? 30-36%, with 540 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.39%
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 origination81.82%
Texas Dow Employees Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,971 | $662,595,000 | $223,021 |