First Service Credit Union Mortgage Rates, Fees & Info

Houston, TX

LEI: 549300IH3DF6NS2IYJ30

Tax ID: 74-1951016

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
  • Complaints
  • 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

    First Service Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. First Service Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Dallas, Bay City, Austin, and Kerrville among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Service 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. First Service 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 6.64% 5/5/24
    30 Year Conventional Refi 6.54% 5/5/24
    30 Year Cash-out Refi 6.75% 5/5/24
    15 Year Conventional Purchase 5.77% 5/5/24
    15 Year Conventional Refi 6.44% 5/5/24
    15 Year Cash-out Refi 6.44% 5/5/24
    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 Service Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from First Service 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

    357

    Origination Dollar Volume (All Markets)

    $49,165,000

    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
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 314 $43,510,000 $138,567 $2,889 4.97%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 11 $1,295,000 $117,727 $1,596 5.08%
    Outside of Metro Areas 10 $1,220,000 $122,000 $3,791 4.88%
    Bay City, TX (FHA|USDA|VA) 4 $910,000 $227,500 $7,600 4.46%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 6 $740,000 $123,333 $1,350 5.35%
    Kerrville, TX (FHA|USDA|VA) 1 $545,000 $545,000 $6,060 6.38%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $245,000 $81,667 $1,770 4.99%
    LONGVIEW, TX (FHA|USDA|VA) 1 $185,000 $185,000 $4,957 5.99%
    EL PASO, TX (FHA|USDA|VA) 1 $135,000 $135,000 $3,118 4.99%
    WACO, TX (FHA|USDA|VA) 1 $105,000 $105,000 $807 5.74%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $85,000 $85,000 $4,685 2.88%
    Brownwood, TX (FHA|USDA|VA) 1 $75,000 $75,000 $780 4.99%
    El Campo, TX (FHA|USDA|VA) 1 $55,000 $55,000 $1,674 3.75%
    BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $35,000 $35,000 $3,113 4.24%
    Huntsville, TX (FHA|USDA|VA) 1 $25,000 $25,000 $435 4.99%
    First Service Credit Union's top markets include Houston, Dallas, Bay City, Austin, and Kerrville among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against FIRST SERVICE Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    PRIMEWAY
    Similarity Rank: 249
    AMOCO
    Similarity Rank: 510
    A+ Federal Credit Union
    Similarity Rank: 858
    FIRST CONTINENTAL MORTGAGE, LTD.
    Similarity Rank: 860
    TEXAS BAY
    Similarity Rank: 957
    CAPITAL PLUS FINANCIAL, LLC
    Similarity Rank: 1032
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 1074
    AAXY L.L.C.
    Similarity Rank: 1344
    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 1482
    JSC
    Similarity Rank: 1924

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 357 $49,165,000 $137,717 $2,891 4.97%

    For 2022, First Service Credit Union's most frequently originated type of loan was Conventional, with 357 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 277 $29,915,000 $107,996 $2,082 4.96%
    Home Purchase 59 $16,325,000 $276,695 $5,882 5.08%
    Refi 13 $1,995,000 $153,462 $6,535 4.40%
    Other 7 $845,000 $120,714 $3,214 5.38%
    Home Improvement 1 $85,000 $85,000 $712 4.49%

    For 2022, First Service Credit Union's most frequently cited loan purpose was Cash Out Refi, with 277 originations. The 2nd most popular reason was Home Purchase, with 59 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 174 $18,760,000 $107,816 $1,752 5.16%
    30 Year 69 $20,365,000 $295,145 $6,575 4.99%
    15 Year 60 $5,900,000 $98,333 $2,939 4.74%
    10 Year 45 $3,425,000 $76,111 $1,922 4.60%
    5 Year 9 $715,000 $79,444 $1,182 4.41%

    For 2022, First Service Credit Union's most frequently cited loan duration was 20 Year, with 174 originations. The 2nd most popular length was 30 Year, with 69 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 264 $25,970,000 $98,371
    $1k-2k 35 $8,805,000 $251,571
    $5k+ 21 $6,515,000 $310,238
    $2k-3k 14 $3,440,000 $245,714
    $3k-4k 14 $2,240,000 $160,000
    $4k-5k 9 $2,195,000 $243,889

    First Service Credit Union's average total fees were $6,575, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 264 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 207 $24,205,000 $116,932
    5-6% 96 $14,610,000 $152,188
    3-4% 30 $6,290,000 $209,667
    6-7% 15 $2,185,000 $145,667
    2.5-3% 5 $1,395,000 $279,000
    7-8% 4 $480,000 $120,000

    During 2022, First Service Credit Union's average interest rate for loans was 4.99%, while their most frequently originated rate bucket for loans was 4-5%, with 207 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 182 $11,740,000 $64,505 $1,368 5.00%
    $100k-200k 103 $14,495,000 $140,728 $2,913 5.06%
    $200k-400k 60 $16,270,000 $271,167 $6,264 4.70%
    $400k-600k 9 $4,795,000 $532,778 $9,625 4.84%
    $600k-1MM 3 $1,865,000 $621,667 $6,824 5.33%

    2022 saw First Service Credit Union place emphasis on $100,000 or less loans with 182 originations, totaling $11,740,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 98 $13,450,000 $137,245 $2,647 5.05%
    $150k-250k 83 $12,715,000 $153,193 $2,667 5.03%
    $75k-100k 69 $8,755,000 $126,884 $2,848 4.90%
    $50k-75k 58 $6,160,000 $106,207 $3,122 4.88%
    $250k+ 31 $6,365,000 $205,323 $3,919 4.80%
    $50k or less 15 $1,555,000 $103,667 $3,327 5.08%

    First Service Credit Union lent most frequently to those with incomes in the $100k-150k range, with 98 originations. The second most popular income band? $150k-250k, with 83 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 69 $8,685,000 $125,870 $2,795 4.86%
    30-36% 68 $8,720,000 $128,235 $2,568 5.02%
    44% 27 $3,475,000 $128,704 $2,353 5.31%
    43% 26 $3,190,000 $122,692 $2,539 4.90%
    <20% 22 $2,620,000 $119,091 $3,378 4.68%
    42% 21 $2,315,000 $110,238 $2,027 5.19%
    39% 16 $2,310,000 $144,375 $2,273 4.88%
    40% 16 $2,010,000 $125,625 $1,998 4.92%
    38% 16 $1,800,000 $112,500 $2,159 5.09%
    36% 16 $2,160,000 $135,000 $3,484 4.91%
    37% 14 $1,950,000 $139,286 $3,245 4.68%
    41% 13 $1,455,000 $111,923 $2,391 5.11%
    45% 8 $1,290,000 $161,250 $4,520 5.04%
    49% 7 $2,345,000 $335,000 $8,352 4.78%
    46% 6 $1,610,000 $268,333 $6,382 5.35%
    48% 5 $1,545,000 $309,000 $3,279 4.85%
    50-60% 4 $750,000 $187,500 $4,405 5.06%
    47% 2 $850,000 $425,000 $4,564 5.25%
    >60% 1 $85,000 $85,000 $6,920 3.99%

    First Service Credit Union lent most frequently to those with DTI ratios of 20-30%, with 69 originations. The next most common DTI ratio? 30-36%, with 68 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 232 $31,030,000 $133,750 $2,682 4.97%
    Black 49 $6,845,000 $139,694 $3,014 5.05%
    Not provided 41 $5,705,000 $139,146 $3,740 4.83%
    Asian 24 $4,110,000 $171,250 $3,149 5.07%
    American Indian 5 $865,000 $173,000 $3,728 5.04%
    Other Asian 3 $275,000 $91,667 $4,131 4.41%
    Asian Indian 2 $230,000 $115,000 $726 5.12%
    Other Pacific Islander 1 $105,000 $105,000 $780 4.99%

    Approval Rates

    Total approvals of all applications
    95.99%

    First Service 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
    43.98%

    First Service Credit 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 357 $49,165,000 $137,717

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    357 $49,165,000 $137,717

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 93 $8,825,000 $94,892 $1,539 4.92%
    40-60% 32 $4,550,000 $142,188 $3,103 4.71%
    60-80% 68 $13,360,000 $196,471 $5,080 4.86%
    80-100% 54 $15,190,000 $281,296 $6,205 5.04%
    Under 20% 110 $7,240,000 $65,818 $991 5.11%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST GUARANTY MORTGAGE CORP Conventional home mortgage Struggling to pay mortgage 1 100.0%