Metro Medical Credit Union Mortgage Rates, Fees & Info

Dallas, TX

LEI: 549300MXE3M1W481QB61

Tax ID: 75-1249646

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Metro Medical Credit Union is a smaller credit union specializing in Home Improvement loans. Metro Medical Credit Union has a high proportion of conventional loans. Their top (well, only) market is Dallas.

    Metro Medical Credit Union has an average approval rate when compared to the average across all lenders.

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    Originations

    19

    Origination Dollar Volume (All Markets)

    $1,425,000

    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
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 19 $1,425,000 $75,000 $0 7.01%
    Metro Medical Credit Union's top markets include and Dallas among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 19 $1,425,000 $75,000 $0 7.01%

    For 2023, Metro Medical Credit Union's most frequently originated type of loan was Conventional, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 15 $1,095,000 $73,000 $0 6.83%
    Other 3 $155,000 $51,667 $0 8.15%
    Cash Out Refi 1 $175,000 $175,000 $0 6.25%

    For 2023, Metro Medical Credit Union's most frequently cited loan purpose was Home Improvement, with 15 originations. The 2nd most popular reason was Other, with 3 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 19 $1,425,000 $75,000 $0 7.01%

    For 2023, Metro Medical Credit Union's most frequently cited loan duration was Other, with 19 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 6 $290,000 $48,333
    7-8% 6 $530,000 $88,333
    6-7% 4 $350,000 $87,500
    Over 8% 3 $255,000 $85,000

    During 2023, Metro Medical Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 6 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 17 $1,085,000 $63,824 $0 7.04%
    $100k-200k 2 $340,000 $170,000 $0 6.75%

    2023 saw Metro Medical Credit Union place emphasis on $100,000 or less loans with 17 originations, totaling $1,085,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 5 $285,000 $57,000 $0 7.95%
    $50k-75k 4 $200,000 $50,000 $0 5.88%
    $75k-100k 4 $310,000 $77,500 $0 7.19%
    $250k+ 3 $405,000 $135,000 $0 6.83%
    $150k-250k 2 $140,000 $70,000 $0 6.73%
    $50k or less 1 $85,000 $85,000 $0 7.15%

    Metro Medical Credit Union lent most frequently to those with incomes in the $100k-150k range, with 5 originations. The second most popular income band? $50k-75k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 5 $425,000 $85,000 $0 6.85%
    50-60% 4 $320,000 $80,000 $0 8.19%
    20-30% 4 $380,000 $95,000 $0 6.66%
    <20% 2 $130,000 $65,000 $0 6.85%
    43% 1 $45,000 $45,000 $0 5.25%
    48% 1 $35,000 $35,000 $0 5.75%
    49% 1 $35,000 $35,000 $0 7.00%
    40% 1 $55,000 $55,000 $0 7.75%

    Metro Medical Credit Union lent most frequently to those with DTI ratios of 30-36%, with 5 originations. The next most common DTI ratio? 50-60%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 4 $470,000 $117,500 $0 7.06%
    Not provided 7 $435,000 $62,143 $0 6.96%
    Black 4 $260,000 $65,000 $0 7.20%
    White 4 $260,000 $65,000 $0 6.84%

    Approval Rates

    Total approvals of all applications
    82.61%

    Metro Medical Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 19 $1,425,000 $75,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    19 $1,425,000 $75,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $545,000 $77,857 $0 7.19%
    40-60% 2 $180,000 $90,000 $0 7.68%
    Under 20% 10 $700,000 $70,000 $0 6.75%