Fedex Employees Credit Association Mortgage Rates, Fees & Info
Memphis, TNLEI: 549300OGIGNKGO2DX942
Tax ID: 62-0926739
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Mortgage Data
Review & Overview
Fedex Employees Credit Association is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Fedex Employees Credit Association has a high proportion of conventional loans. Their top markets by origination volume include: Memphis, Chicago, Dallas, Miami, and Indianapolis among others. We have data for 55 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 relatively high 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 | 6.86% | 11/17/24 |
| 30 Year Conventional Refi | 6.63% | 11/17/24 |
| 30 Year Cash-out Refi | 7.02% | 11/17/24 |
| 30 Year VA Purchase | 6.52% | 11/17/24 |
| 15 Year Conventional Purchase | 6.34% | 11/17/24 |
| 15 Year Conventional Refi | 5.92% | 11/17/24 |
| 15 Year Cash-out Refi | 5.92% | 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. | ||
Fedex Employees Credit Association Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
188Origination Dollar Volume (All Markets)
$22,220,000Relative Rate
Fedex Employees Credit Association's average 30 year fixed mortgage rate was
6.69%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.21%.
Relative Fees (Closing Costs)
Fedex Employees Credit Association's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,884.
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 $9,089.
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) | 66 | $9,510,000 | $144,091 | $5,795 | 6.80% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 9 | $1,245,000 | $138,333 | $8,269 | 6.73% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $920,000 | $230,000 | $6,588 | 6.72% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 5 | $785,000 | $157,000 | $6,154 | 6.28% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 8 | $750,000 | $93,750 | $3,461 | 7.15% |
| Outside of Metro Areas | 8 | $640,000 | $80,000 | $4,324 | 6.17% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $6,785 | 7.16% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $6,879 | 6.96% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $4,326 | 6.38% |
| PITTSBURGH, PA (FHA|USDA|VA) | 5 | $445,000 | $89,000 | $9,494 | 6.44% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $440,000 | $110,000 | $4,196 | 6.13% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 6 | $440,000 | $73,333 | $4,617 | 6.25% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $5,514 | 6.25% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $11,760 | 6.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,277 | 5.75% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 6 | $280,000 | $46,667 | $0 | 7.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $5,388 | 5.88% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $4,761 | 6.13% |
| Harrison, AR (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $6,455 | 6.75% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $4,493 | 6.88% |
| VALDOSTA, GA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,891 | 7.25% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 0.00% |
| MADISON, WI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,677 | 6.38% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 7.75% |
| MANSFIELD, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,676 | 7.63% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $175,000 | $58,333 | $4,049 | 6.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,004 | 6.38% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,263 | 7.63% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 6.75% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 6.50% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,910 | 7.13% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 5.50% |
| TULSA, OK (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 5.25% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 8.50% |
| JACKSON, TN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| Zanesville, OH (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $0 | 6.25% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $50,000 | $25,000 | $0 | 6.50% |
| SPARTANBURG, SC (FHA|USDA|VA) | 2 | $50,000 | $25,000 | $0 | 0.00% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.25% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 5.50% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 7.75% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| AKRON, OH (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 6.25% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 7.75% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
| Sandusky, OH (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 188 | $22,220,000 | $118,191 | $5,786 | 6.68% |
For 2023, Fedex Employees Credit Association's most frequently originated type of loan was Conventional, with 188 originations.
Loan Reason
For 2023, Fedex Employees Credit Association's most frequently cited loan purpose was Home Improvement, with 119 originations. The 2nd most popular reason was Home Purchase, with 48 originations.
Loan Duration/Length
For 2023, Fedex Employees Credit Association's most frequently cited loan duration was Other, with 68 originations. The 2nd most popular length was 30 Year, with 60 originations.
Origination Fees/Closing Costs
Fedex Employees Credit Association's average total fees were $5,884, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 25 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 55 | $9,375,000 | $170,455 |
| 7-8% | 33 | $5,465,000 | $165,606 |
| 5-6% | 23 | $3,315,000 | $144,130 |
| Over 8% | 6 | $280,000 | $46,667 |
| 3-4% | 2 | $200,000 | $100,000 |
During 2023, Fedex Employees Credit Association's average interest rate for loans was 6.69%, while their most frequently originated rate bucket for loans was 6-7%, with 55 originations.
Loan Sizing
2023 saw Fedex Employees Credit Association place emphasis on $100,000 or less loans with 115 originations, totaling $5,265,000 in origination value.
Applicant Income
Fedex Employees Credit Association lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $50k-75k, with 24 originations.
Applicant Debt to Income Ratio
Fedex Employees Credit Association lent most frequently to those with DTI ratios of 20-30%, with 36 originations. The next most common DTI ratio? 30-36%, with 29 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.34%
Fedex Employees Credit Association has an average approval rate.
Pick Rate
Approvals leading to origination52.13%
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 | 188 | $22,220,000 | $118,191 |