Fedex Employees Credit Association Mortgage Rates, Fees & Info

Memphis, TN

LEI: 549300OGIGNKGO2DX942

Tax ID: 62-0926739

4.3 stars - out of 5 stars, based on 17 reviews

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

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Mortgage Data

Review & Overview

Fedex Employees Credit Association is a smaller mortgage company specializing in 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, Chicago, Atlanta, Dallas, and Phoenix among others. We have data for 82 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.86% 5/28/23
30 Year Conventional Refi 6.63% 5/28/23
30 Year Cash-out Refi 7.02% 5/28/23
30 Year VA Purchase 6.52% 5/28/23
15 Year Conventional Purchase 6.34% 5/28/23
15 Year Conventional Refi 5.92% 5/28/23
15 Year Cash-out Refi 5.92% 5/28/23
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






Your Estimates

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

This is not an official calculator from Fedex Employees Credit Association. 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

305

Origination Dollar Volume (All Markets)

$41,255,000

Relative Rate

Fedex Employees Credit Association's average 30 year fixed mortgage rate was 5.01%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.25%.

Relative Fees (Closing Costs)

Fedex Employees Credit Association's average total fees/closing costs for a 30 year fixed rate mortgage were $6,416.

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) 110 $13,730,000 $124,818 $5,582 4.70%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 10 $1,660,000 $166,000 $5,679 4.68%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 15 $1,515,000 $101,000 $3,610 4.44%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 5 $1,385,000 $277,000 $6,924 4.95%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 5 $1,155,000 $231,000 $6,443 5.19%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $1,075,000 $358,333 $7,107 4.54%
Outside of Metro Areas 7 $1,025,000 $146,429 $5,127 3.98%
Harrison, AR (FHA|USDA|VA) 9 $1,015,000 $112,778 $5,182 4.27%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 8 $1,010,000 $126,250 $8,932 4.56%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 11 $965,000 $87,727 $4,620 4.07%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 7 $865,000 $123,571 $8,309 4.55%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 5 $835,000 $167,000 $8,771 3.93%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5 $825,000 $165,000 $7,710 4.43%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 5 $815,000 $163,000 $6,305 4.13%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $780,000 $390,000 $6,818 4.94%
Barre, VT (FHA|USDA|VA) 1 $705,000 $705,000 $6,695 3.63%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $645,000 $645,000 $10,485 5.25%
PITTSBURGH, PA (FHA|USDA|VA) 7 $635,000 $90,714 $7,806 4.79%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 4 $620,000 $155,000 $9,552 4.97%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $615,000 $615,000 $7,753 5.50%
COLORADO SPRINGS, CO (FHA|USDA|VA) 3 $605,000 $201,667 $6,495 4.44%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $590,000 $295,000 $5,361 4.81%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $470,000 $117,500 $2,723 4.69%
SPRINGFIELD, MO (FHA|USDA|VA) 3 $405,000 $135,000 $3,640 3.79%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $390,000 $195,000 $13,928 5.81%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $355,000 $355,000 $7,062 5.88%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $340,000 $170,000 $5,949 2.75%
Cullowhee, NC (FHA|USDA|VA) 1 $305,000 $305,000 $4,509 6.50%
TOLEDO, OH (FHA|USDA|VA) 2 $300,000 $150,000 $4,474 4.75%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $295,000 $98,333 $0 4.58%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $290,000 $145,000 $3,626 4.13%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $265,000 $265,000 $8,216 6.38%
JACKSON, TN (FHA|USDA|VA) 1 $255,000 $255,000 $3,499 4.88%
DOVER, DE (FHA|USDA|VA) 1 $255,000 $255,000 $8,286 5.50%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $235,000 $235,000 $7,221 5.50%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $225,000 $225,000 $4,158 4.75%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 2 $220,000 $110,000 $8,074 6.25%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $220,000 $110,000 $0 5.50%
WILMINGTON, NC (FHA|USDA|VA) 1 $205,000 $205,000 $8,159 3.63%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $185,000 $185,000 $3,714 5.63%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $180,000 $90,000 $0 5.13%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $165,000 $165,000 $2,353 4.88%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $165,000 $165,000 $4,666 3.13%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $155,000 $155,000 $0 7.50%
YUMA, AZ (FHA|USDA|VA) 3 $145,000 $48,333 $0 0.00%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $135,000 $135,000 $9,783 5.00%
COLUMBUS, OH (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
FRESNO, CA (FHA|USDA|VA) 1 $115,000 $115,000 $0 6.50%
Brownsville, TN (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
STOCKTON, CA (FHA|USDA|VA) 2 $100,000 $50,000 $0 4.63%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $80,000 $40,000 $0 5.25%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.00%
ROCKFORD, IL (FHA|USDA|VA) 1 $75,000 $75,000 $2,714 5.13%
OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $70,000 $35,000 $0 4.88%
GAINESVILLE, GA (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.50%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.25%
Lincoln, IL (FHA|USDA|VA) 1 $55,000 $55,000 $2,431 6.50%
RACINE, WI (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.00%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.75%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
SAVANNAH, GA (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Helena-West Helena, AR (FHA|USDA|VA) 1 $45,000 $45,000 $3,611 4.25%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.75%
RICHMOND, VA (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.50%
MOBILE, AL (FHA|USDA|VA) 1 $35,000 $35,000 $2,981 5.50%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.75%
DECATUR, AL (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.75%
AKRON, OH (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.25%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.25%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
ANCHORAGE, AK (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.00%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.50%
Bozeman, MT (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.00%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.50%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $15,000 $15,000 $0 6.00%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
Fedex Employees Credit Association's top markets include Memphis, Chicago, Atlanta, Dallas, and Phoenix among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 298 $39,420,000 $132,282 $5,529 4.68%
    VA 7 $1,835,000 $262,143 $11,311 4.43%

    For 2022, Fedex Employees Credit Association's most frequently originated type of loan was Conventional, with 298 originations. Their 2nd most popular type was VA, with 7 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 149 $7,845,000 $52,651 $0 4.72%
    Cash Out Refi 64 $12,190,000 $190,469 $5,525 4.51%
    Home Purchase 58 $16,480,000 $284,138 $6,532 5.16%
    Refi 33 $4,695,000 $142,273 $4,435 3.71%
    NA 1 $45,000 $45,000 $0 0.00%

    For 2022, Fedex Employees Credit Association's most frequently cited loan purpose was Home Improvement, with 149 originations. The 2nd most popular reason was Cash Out Refi, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 95 $25,395,000 $267,316 $6,416 5.01%
    15 Year 86 $6,920,000 $80,465 $4,034 4.63%
    Other 54 $4,160,000 $77,037 $9,636 4.34%
    10 Year 34 $2,000,000 $58,824 $3,293 4.52%
    5 Year 29 $1,565,000 $53,966 $0 4.12%
    20 Year 7 $1,215,000 $173,571 $4,836 3.80%

    For 2022, Fedex Employees Credit Association's most frequently cited loan duration was 30 Year, with 95 originations. The 2nd most popular length was 15 Year, with 86 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 44 $7,800,000 $177,273
    $2k-3k 28 $8,710,000 $311,071
    $5k+ 27 $8,075,000 $299,074
    $4k-5k 14 $3,060,000 $218,571
    $3k-4k 10 $2,280,000 $228,000
    $<1k 9 $925,000 $102,778

    Fedex Employees Credit Association's average total fees were $6,416, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 44 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 81 $9,305,000 $114,877
    4-5% 72 $11,740,000 $163,056
    5-6% 56 $10,080,000 $180,000
    6-7% 30 $3,970,000 $132,333
    2.5-3% 9 $1,115,000 $123,889
    7-8% 4 $1,170,000 $292,500
    <2.5% 3 $495,000 $165,000

    During 2022, Fedex Employees Credit Association's average interest rate for loans was 5.01%, while their most frequently originated rate bucket for loans was 3-4%, with 81 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 162 $7,440,000 $45,926 $3,070 4.64%
    $100k-200k 70 $10,260,000 $146,571 $4,814 4.47%
    $200k-400k 60 $16,060,000 $267,667 $7,005 4.78%
    $400k-600k 7 $3,565,000 $509,286 $7,538 5.38%
    $600k-1MM 6 $3,930,000 $655,000 $8,818 5.23%

    2022 saw Fedex Employees Credit Association place emphasis on $100,000 or less loans with 162 originations, totaling $7,440,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 67 $10,085,000 $150,522 $6,364 4.77%
    $50k-75k 63 $8,665,000 $137,540 $5,836 4.43%
    $75k-100k 59 $7,695,000 $130,424 $4,790 4.51%
    $150k-250k 36 $6,630,000 $184,167 $7,965 5.21%
    $50k or less 24 $2,140,000 $89,167 $3,684 4.38%
    $250k+ 4 $2,430,000 $607,500 $7,756 5.28%

    Fedex Employees Credit Association lent most frequently to those with incomes in the $100k-150k range, with 67 originations. The second most popular income band? $50k-75k, with 63 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 63 $6,865,000 $108,968 $5,451 4.63%
    30-36% 50 $7,120,000 $142,400 $6,059 4.86%
    <20% 50 $3,850,000 $77,000 $4,978 4.27%
    38% 14 $2,310,000 $165,000 $5,896 4.36%
    42% 13 $1,545,000 $118,846 $4,822 4.29%
    >60% 12 $870,000 $72,500 $0 4.94%
    39% 11 $2,325,000 $211,364 $6,125 4.96%
    50-60% 10 $1,120,000 $112,000 $11,635 4.36%
    37% 9 $2,175,000 $241,667 $6,609 5.25%
    48% 9 $1,715,000 $190,556 $4,771 4.34%
    49% 8 $1,890,000 $236,250 $5,306 5.48%
    44% 8 $1,970,000 $246,250 $6,284 4.70%
    36% 8 $1,070,000 $133,750 $4,523 4.73%
    41% 8 $1,200,000 $150,000 $6,077 4.48%
    43% 7 $835,000 $119,286 $3,689 4.97%
    40% 6 $750,000 $125,000 $3,661 4.58%
    47% 5 $1,325,000 $265,000 $9,684 5.35%
    45% 5 $1,015,000 $203,000 $7,750 5.09%
    46% 3 $915,000 $305,000 $6,552 5.56%

    Fedex Employees Credit Association lent most frequently to those with DTI ratios of 20-30%, with 63 originations. The next most common DTI ratio? 30-36%, with 50 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 197 $17,865,000 $90,685 $5,909 4.73%
    White 65 $14,735,000 $226,692 $5,816 4.46%
    Black 37 $7,565,000 $204,459 $5,702 4.79%
    Asian 4 $670,000 $167,500 $6,293 5.09%
    American Indian 2 $420,000 $210,000 $6,446 4.38%

    Approval Rates

    Total approvals of all applications
    84.92%

    Fedex Employees Credit Association has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    51.15%

    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 305 $41,255,000 $135,262

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    305 $41,255,000 $135,262

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $2,630,000 $82,188 $3,313 4.46%
    40-60% 30 $4,650,000 $155,000 $4,802 4.41%
    60-80% 58 $13,330,000 $229,828 $5,731 4.57%
    80-100% 49 $13,115,000 $267,653 $6,546 5.12%
    Over 100% 4 $950,000 $237,500 $14,658 4.25%
    Under 20% 79 $2,885,000 $36,519 $3,058 4.69%