Cy-fair Federal Credit Union Mortgage Rates, Fees & Info
Houston, TXLEI: 549300LUMAIOXHIFK142
Tax ID: 74-1396345
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Mortgage Data
Review & Overview
Cy-fair Federal Credit Union is a smaller credit union specializing in Home Improvement loans. Cy-fair Federal Credit Union has a high proportion of conventional loans. Their top two markets are Houston and Brenham .Cy-fair Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Purchase | 5.71% | 11/17/24 |
| 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. | ||
Cy-fair Federal 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
39Origination Dollar Volume (All Markets)
$3,275,000Top 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) | 38 | $3,150,000 | $82,895 | $350 | 5.14% |
| Brenham, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 4.30% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 39 | $3,275,000 | $83,974 | $350 | 5.12% |
For 2021, Cy-fair Federal Credit Union's most frequently originated type of loan was Conventional, with 39 originations.
Loan Reason
For 2021, Cy-fair Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 21 originations. The 2nd most popular reason was Other, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 27 | $2,605,000 | $96,481 | $0 | 5.35% |
| 10 Year | 8 | $470,000 | $58,750 | $350 | 4.91% |
| 5 Year | 4 | $200,000 | $50,000 | $0 | 4.03% |
For 2021, Cy-fair Federal Credit Union's most frequently cited loan duration was 15 Year, with 27 originations. The 2nd most popular length was 10 Year, with 8 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 17 | $1,735,000 | $102,059 |
| 6-7% | 12 | $970,000 | $80,833 |
| 5-6% | 5 | $245,000 | $49,000 |
| 3-4% | 3 | $145,000 | $48,333 |
| <2.5% | 1 | $85,000 | $85,000 |
During 2021, Cy-fair Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 17 originations.
Loan Sizing
2021 saw Cy-fair Federal Credit Union place emphasis on $100,000 or less loans with 28 originations, totaling $1,740,000 in origination value.
Applicant Income
Cy-fair Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 18 originations. The second most popular income band? $150k-250k, with 6 originations.
Applicant Debt to Income Ratio
Cy-fair Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? <20%, with 9 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 36 | $3,080,000 | $85,556 | $350 | 5.12% |
| Black | 2 | $170,000 | $85,000 | $0 | 4.60% |
| Filipino | 1 | $25,000 | $25,000 | $0 | 5.75% |
Approval Rates
Total approvals of all applications82.35%
Cy-fair Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination92.31%
Cy-fair Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 39 | $3,275,000 | $83,974 |