Fedex Employees Credit Association Mortgage Rates, Fees & Info

Memphis, TN

LEI: 549300OGIGNKGO2DX942

Tax ID: 62-0926739

4.9 stars - out of 5 stars, based on 21 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Fedex Employees Credit Association is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Fedex Employees Credit Association has a high proportion of conventional loans. Their top markets by origination volume include: Memphis, New York, Atlanta, Miami, and Indianapolis among others. We have data for 105 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Fedex Employees Credit Association has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Fedex Employees Credit Association 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.84% 10/3/22
    30 Year Conventional Refi 6.61% 10/3/22
    30 Year Cash-out Refi 6.89% 10/3/22
    30 Year VA Purchase 6.30% 10/3/22
    30 Year VA Refi 6.29% 10/3/22
    15 Year Conventional Purchase 6.21% 10/3/22
    15 Year Conventional Refi 6.33% 10/3/22
    15 Year Cash-out Refi 6.33% 10/3/22
    15 Year VA Purchase 5.96% 10/3/22
    15 Year VA Refi 5.96% 10/3/22
    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.


    Originations

    444

    Origination Dollar Volume (All Markets)

    $80,980,000

    Relative Rate

    Fedex Employees Credit Association's average 30 year fixed mortgage rate was 3.21%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.06%.

    Relative Fees (Closing Costs)

    Fedex Employees Credit Association's average total fees/closing costs for a 30 year fixed rate mortgage were $4,713.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 150 $27,550,000 $183,667 $3,938 3.13%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 16 $4,050,000 $253,125 $5,183 3.15%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 25 $3,945,000 $157,800 $4,047 3.29%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 15 $3,795,000 $253,000 $5,697 3.27%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 18 $2,920,000 $162,222 $4,076 3.20%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 12 $2,410,000 $200,833 $4,948 3.11%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 9 $2,115,000 $235,000 $4,066 2.97%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 8 $2,060,000 $257,500 $4,701 3.07%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 9 $1,965,000 $218,333 $5,589 2.88%
    Outside of Metro Areas 9 $1,535,000 $170,556 $3,634 2.96%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 10 $1,530,000 $153,000 $5,371 2.99%
    PITTSBURGH, PA (FHA|USDA|VA) 14 $1,450,000 $103,571 $4,096 3.16%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 7 $1,365,000 $195,000 $3,801 3.57%
    Harrison, AR (FHA|USDA|VA) 7 $1,265,000 $180,714 $3,075 2.88%
    FLAGSTAFF, AZ (FHA|USDA|VA) 4 $980,000 $245,000 $5,278 2.84%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 4 $830,000 $207,500 $6,560 3.28%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $750,000 $375,000 $8,684 3.31%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 5 $705,000 $141,000 $4,579 3.00%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 5 $705,000 $141,000 $3,417 3.05%
    AMARILLO, TX (FHA|USDA|VA) 2 $690,000 $345,000 $14,025 3.00%
    COLUMBUS, OH (FHA|USDA|VA) 4 $680,000 $170,000 $3,759 2.78%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $570,000 $285,000 $5,014 3.75%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 3 $565,000 $188,333 $5,035 2.88%
    BAKERSFIELD, CA (FHA|USDA|VA) 2 $520,000 $260,000 $4,871 3.88%
    STOCKTON, CA (FHA|USDA|VA) 2 $510,000 $255,000 $3,224 3.06%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $505,000 $101,000 $3,927 3.03%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $480,000 $240,000 $3,451 3.13%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $475,000 $475,000 $6,618 2.88%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $460,000 $230,000 $3,553 3.06%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $430,000 $215,000 $5,026 3.00%
    GRAND JUNCTION, CO (FHA|USDA|VA) 1 $405,000 $405,000 $3,864 3.25%
    Tupelo, MS (FHA|USDA|VA) 1 $385,000 $385,000 $7,744 2.88%
    RICHMOND, VA (FHA|USDA|VA) 2 $350,000 $175,000 $3,232 2.94%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $340,000 $85,000 $3,363 3.04%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $335,000 $335,000 $9,620 2.88%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 3 $325,000 $108,333 $2,098 3.69%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $315,000 $315,000 $3,285 2.63%
    FORT SMITH, AR-OK (FHA|USDA|VA) 3 $305,000 $101,667 $3,712 3.25%
    Brainerd, MN (FHA|USDA|VA) 1 $305,000 $305,000 $6,382 2.88%
    SPRINGFIELD, MO (FHA|USDA|VA) 2 $300,000 $150,000 $4,281 3.94%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $285,000 $285,000 $2,683 3.38%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $280,000 $140,000 $4,007 3.31%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $275,000 $275,000 $7,225 3.00%
    MODESTO, CA (FHA|USDA|VA) 1 $275,000 $275,000 $5,508 3.00%
    MERCED, CA (FHA|USDA|VA) 1 $275,000 $275,000 $4,202 3.25%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $260,000 $130,000 $2,304 2.75%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $255,000 $255,000 $3,926 3.25%
    Durango, CO (FHA|USDA|VA) 1 $255,000 $255,000 $2,751 2.50%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 1 $245,000 $245,000 $3,617 3.25%
    FORT WAYNE, IN (FHA|USDA|VA) 1 $245,000 $245,000 $2,972 3.50%
    BEND, OR (FHA|USDA|VA) 1 $235,000 $235,000 $9,468 2.63%
    FLORENCE, SC (FHA|USDA|VA) 1 $235,000 $235,000 $5,588 2.25%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $235,000 $235,000 $4,385 4.38%
    GRAND ISLAND, NE (FHA|USDA|VA) 1 $225,000 $225,000 $2,871 3.13%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $225,000 $225,000 $4,057 3.00%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $215,000 $215,000 $4,507 3.25%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $215,000 $215,000 $5,571 3.13%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $215,000 $215,000 $4,727 3.13%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $210,000 $105,000 $3,485 3.06%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $205,000 $205,000 $4,622 3.00%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.75%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $205,000 $205,000 $0 4.75%
    ROANOKE, VA (FHA|USDA|VA) 1 $195,000 $195,000 $3,021 2.50%
    BISMARCK, ND (FHA|USDA|VA) 1 $185,000 $185,000 $6,491 3.63%
    Brownsville, TN (FHA|USDA|VA) 1 $175,000 $175,000 $3,525 2.75%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $175,000 $175,000 $4,474 2.88%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $175,000 $175,000 $4,081 3.50%
    WARNER ROBINS, GA (FHA|USDA|VA) 1 $175,000 $175,000 $3,256 2.88%
    TULSA, OK (FHA|USDA|VA) 1 $155,000 $155,000 $3,780 2.88%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $155,000 $155,000 $4,717 3.25%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $155,000 $155,000 $3,400 3.25%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $145,000 $145,000 $3,498 3.13%
    JONESBORO, AR (FHA|USDA|VA) 1 $145,000 $145,000 $2,869 2.25%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $135,000 $135,000 $2,687 3.63%
    HOT SPRINGS, AR (FHA|USDA|VA) 1 $135,000 $135,000 $3,672 3.00%
    LAKE CHARLES, LA (FHA|USDA|VA) 1 $135,000 $135,000 $3,804 2.75%
    Oxford, MS (FHA|USDA|VA) 1 $135,000 $135,000 $2,902 2.75%
    WILMINGTON, NC (FHA|USDA|VA) 1 $135,000 $135,000 $3,191 2.88%
    SAVANNAH, GA (FHA|USDA|VA) 1 $115,000 $115,000 $2,723 2.88%
    COLUMBIA, MO (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    London, KY (FHA|USDA|VA) 1 $105,000 $105,000 $2,467 3.00%
    CHARLESTON, WV (FHA|USDA|VA) 1 $105,000 $105,000 $2,740 2.38%
    Nogales, AZ (FHA|USDA|VA) 1 $105,000 $105,000 $2,722 2.50%
    ROCKFORD, IL (FHA|USDA|VA) 1 $105,000 $105,000 $3,145 2.88%
    JACKSON, TN (FHA|USDA|VA) 1 $105,000 $105,000 $2,216 2.63%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $100,000 $50,000 $0 3.75%
    North Platte, NE (FHA|USDA|VA) 1 $95,000 $95,000 $4,550 2.38%
    Whitewater, WI (FHA|USDA|VA) 1 $95,000 $95,000 $2,257 3.00%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $85,000 $85,000 $3,514 2.38%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.25%
    WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 1 $85,000 $85,000 $2,771 3.25%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.25%
    PINE BLUFF, AR (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.25%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $75,000 $75,000 $3,429 2.38%
    Warrensburg, MO (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.25%
    HATTIESBURG, MS (FHA|USDA|VA) 1 $65,000 $65,000 $3,911 4.88%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.00%
    Jasper, AL (FHA|USDA|VA) 1 $55,000 $55,000 $2,075 2.50%
    JACKSON, MS (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.25%
    TOLEDO, OH (FHA|USDA|VA) 1 $45,000 $45,000 $0 3.50%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.25%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.25%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.50%
    OCALA, FL (FHA|USDA|VA) 1 $15,000 $15,000 $0 3.75%

    Fedex Employees Credit Association's top markets include Memphis, New York, Atlanta, Miami, and Indianapolis among others.

    Similar Lenders

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

    AAXY L.L.C.
    Similarity Rank: 540
    U S WIDE FINANCIAL LLC
    Similarity Rank: 924
    Leaders Credit Union
    Similarity Rank: 1050
    CAPITAL PLUS FINANCIAL, LLC
    Similarity Rank: 1200
    Credence Funding Corporation
    Similarity Rank: 1313
    BankPlus
    Similarity Rank: 1400
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 1408
    Financial Federal Bank
    Similarity Rank: 1410
    Orion Federal Credit Union
    Similarity Rank: 1680
    First Citizens National Bank
    Similarity Rank: 1764

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 433 $77,835,000 $179,758 $4,145 3.15%
    VA 11 $3,145,000 $285,909 $9,144 2.78%

    For 2021, Fedex Employees Credit Association's most frequently originated type of loan was Conventional, with 433 originations. Their 2nd most popular type was VA, with 11 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 131 $25,735,000 $196,450 $3,701 2.86%
    Cash Out Refi 112 $20,890,000 $186,518 $4,090 3.08%
    Home Improvement 111 $10,825,000 $97,523 $4,846 3.55%
    Home Purchase 90 $23,530,000 $261,444 $5,219 3.17%

    For 2021, Fedex Employees Credit Association's most frequently cited loan purpose was Refi, with 131 originations. The 2nd most popular reason was Cash Out Refi, with 112 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 214 $52,030,000 $243,131 $4,713 3.21%
    15 Year 132 $17,150,000 $129,924 $3,460 2.94%
    Other 35 $3,915,000 $111,857 $3,634 3.34%
    10 Year 25 $1,925,000 $77,000 $2,854 3.42%
    20 Year 23 $4,595,000 $199,783 $4,397 2.97%
    5 Year 15 $1,365,000 $91,000 $0 3.45%

    For 2021, Fedex Employees Credit Association's most frequently cited loan duration was 30 Year, with 214 originations. The 2nd most popular length was 15 Year, with 132 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 178 $36,170,000 $203,202
    $2k-3k 69 $15,715,000 $227,754
    $3k-4k 35 $8,795,000 $251,286
    $<1k 31 $4,055,000 $130,806
    $5k+ 20 $6,680,000 $334,000
    $4k-5k 12 $3,080,000 $256,667

    Fedex Employees Credit Association's average total fees were $4,713, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 178 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 197 $37,715,000 $191,447
    2.5-3% 142 $30,790,000 $216,831
    <2.5% 58 $9,020,000 $155,517
    4-5% 28 $2,120,000 $75,714

    During 2021, Fedex Employees Credit Association's average interest rate for loans was 3.21%, while their most frequently originated rate bucket for loans was 3-4%, with 197 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 154 $23,190,000 $150,584 $3,644 3.00%
    $200k-400k 142 $38,350,000 $270,070 $4,865 3.09%
    $100,000 or less 121 $6,895,000 $56,983 $2,794 3.38%
    $400k-600k 27 $12,545,000 $464,630 $7,000 3.19%

    2021 saw Fedex Employees Credit Association place emphasis on $100k-200k loans with 154 originations, totaling $23,190,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 123 $18,975,000 $154,268 $3,972 3.07%
    $100k-150k 106 $22,680,000 $213,962 $4,460 3.13%
    $75k-100k 75 $14,255,000 $190,067 $4,535 3.18%
    $150k-250k 65 $14,595,000 $224,538 $5,070 3.19%
    $50k or less 56 $6,900,000 $123,214 $3,369 3.18%
    $250k+ 15 $3,115,000 $207,667 $5,228 3.16%

    Fedex Employees Credit Association lent most frequently to those with incomes in the $50k-75k range, with 123 originations. The second most popular income band? $100k-150k, with 106 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 116 $20,660,000 $178,103 $4,110 3.10%
    30-36% 93 $18,315,000 $196,935 $4,390 3.12%
    <20% 64 $8,110,000 $126,719 $4,075 3.27%
    38% 17 $3,295,000 $193,824 $3,598 3.18%
    37% 16 $2,840,000 $177,500 $4,270 3.25%
    40% 15 $2,945,000 $196,333 $3,820 3.03%
    44% 14 $3,850,000 $275,000 $6,092 3.17%
    41% 13 $2,705,000 $208,077 $3,591 3.09%
    45% 12 $2,660,000 $221,667 $4,937 2.93%
    42% 11 $2,355,000 $214,091 $4,493 3.14%
    43% 11 $2,105,000 $191,364 $4,282 2.68%
    39% 10 $2,300,000 $230,000 $3,500 3.35%
    36% 10 $1,610,000 $161,000 $3,925 3.28%
    48% 10 $2,790,000 $279,000 $5,795 3.19%
    49% 9 $1,565,000 $173,889 $4,872 3.19%
    47% 5 $705,000 $141,000 $3,078 2.55%
    46% 5 $915,000 $183,000 $3,627 3.03%
    50-60% 4 $530,000 $132,500 $7,450 3.06%
    >60% 3 $115,000 $38,333 $0 4.42%

    Fedex Employees Credit Association lent most frequently to those with DTI ratios of 20-30%, with 116 originations. The next most common DTI ratio? 30-36%, with 93 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 215 $43,445,000 $202,070 $4,198 3.01%
    Not provided 136 $19,090,000 $140,368 $4,395 3.37%
    Black 81 $15,845,000 $195,617 $4,358 3.18%
    Asian 4 $1,240,000 $310,000 $5,326 2.69%
    American Indian 5 $1,035,000 $207,000 $4,338 2.90%
    Native Hawaiian or Islander 2 $270,000 $135,000 $5,638 2.31%
    Asian Indian 1 $55,000 $55,000 $0 3.25%

    Approval Rates

    Total approvals of all applications
    89.18%

    Fedex Employees Credit Association has an average approval rate.

    Pick Rate

    Approvals leading to origination
    65.54%

    Fedex Employees Credit Association 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 444 $80,980,000 $182,387

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    444 $80,980,000 $182,387

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 42 $4,690,000 $111,667 $2,839 3.12%
    40-60% 71 $12,995,000 $183,028 $3,683 2.84%
    60-80% 149 $30,495,000 $204,664 $4,257 3.04%
    80-100% 110 $28,750,000 $261,364 $4,853 3.18%
    Over 100% 2 $690,000 $345,000 $14,025 3.00%
    Under 20% 46 $1,880,000 $40,870 $0 3.74%