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 Refi, Home Purchase, and Cash Out Refi loans. Fedex Employees Credit Association has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Memphis, Los Angeles, Dallas, Pittsburgh, and Miami among others. We have data for 98 markets. (Some data included below & more in-depth data is available with an active subscription.)Fedex Employees Credit Association has an above 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.86% | 11/21/24 |
| 30 Year Conventional Refi | 6.63% | 11/21/24 |
| 30 Year Cash-out Refi | 7.02% | 11/21/24 |
| 30 Year VA Purchase | 6.52% | 11/21/24 |
| 15 Year Conventional Purchase | 6.34% | 11/21/24 |
| 15 Year Conventional Refi | 5.92% | 11/21/24 |
| 15 Year Cash-out Refi | 5.92% | 11/21/24 |
| 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
389Origination Dollar Volume (All Markets)
$67,435,000Top 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 |
|---|---|---|---|---|---|
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 141 | $20,725,000 | $146,986 | $4,630 | 3.37% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 12 | $4,430,000 | $369,167 | $4,984 | 3.30% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 12 | $3,030,000 | $252,500 | $6,011 | 3.14% |
| PITTSBURGH, PA (FHA|USDA|VA) | 15 | $2,785,000 | $185,667 | $4,435 | 3.35% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 10 | $1,980,000 | $198,000 | $5,262 | 3.46% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 8 | $1,900,000 | $237,500 | $4,991 | 3.73% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 9 | $1,795,000 | $199,444 | $3,409 | 3.27% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 12 | $1,750,000 | $145,833 | $3,468 | 3.44% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 11 | $1,745,000 | $158,636 | $6,799 | 3.56% |
| Outside of Metro Areas | 11 | $1,465,000 | $133,182 | $4,081 | 3.51% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 8 | $1,440,000 | $180,000 | $4,397 | 3.38% |
| Harrison, AR (FHA|USDA|VA) | 10 | $1,300,000 | $130,000 | $3,503 | 3.54% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 4 | $1,160,000 | $290,000 | $7,581 | 3.28% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $4,199 | 3.19% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 4 | $1,030,000 | $257,500 | $6,715 | 3.53% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 5 | $965,000 | $193,000 | $5,810 | 2.98% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $5,848 | 3.42% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 6 | $740,000 | $123,333 | $5,057 | 3.68% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 4 | $690,000 | $172,500 | $4,216 | 3.22% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $5,404 | 3.21% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $9,671 | 3.88% |
| MERCED, CA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $3,530 | 3.31% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $3,984 | 3.69% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $4,463 | 3.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $6,345 | 3.38% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $6,200 | 4.13% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $5,831 | 3.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $3,275 | 3.13% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $3,524 | 3.63% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,466 | 3.13% |
| LONGVIEW, WA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $5,609 | 3.25% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 4 | $380,000 | $95,000 | $7,586 | 3.31% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $2,363 | 3.33% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $4,009 | 3.31% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 3 | $345,000 | $115,000 | $4,738 | 3.29% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $4,725 | 3.88% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,128 | 3.50% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $9,583 | 3.38% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,834 | 3.38% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $14,279 | 2.88% |
| REDDING, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $5,044 | 3.25% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,901 | 3.25% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $2,742 | 3.94% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,909 | 3.50% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,199 | 3.50% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,122 | 3.25% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,998 | 3.38% |
| Crawfordsville, IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,659 | 3.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $3,582 | 3.50% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,967 | 3.00% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,213 | 3.38% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $5,501 | 2.63% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,154 | 3.50% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,210 | 2.88% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,667 | 3.50% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,197 | 3.25% |
| JACKSON, MS (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,241 | 3.38% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,802 | 3.88% |
| FLINT, MI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,419 | 2.88% |
| Union City, TN (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $2,942 | 2.88% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,414 | 3.50% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,933 | 3.38% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,427 | 4.25% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,193 | 3.38% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,494 | 2.75% |
| Marietta, OH (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,685 | 3.25% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,270 | 3.38% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,264 | 2.75% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,461 | 3.63% |
| McAlester, OK (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,286 | 2.88% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,615 | 2.65% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,579 | 2.75% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,180 | 2.75% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,119 | 3.25% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,112 | 3.50% |
| KANKAKEE, IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,090 | 3.00% |
| Greenville, MS (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,443 | 3.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.75% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,115 | 5.38% |
| AKRON, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,087 | 3.00% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,431 | 3.00% |
| Meridian, MS (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,999 | 3.63% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 0.00% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.25% |
| Centralia, WA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.50% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 3.25% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,472 | 3.00% |
| ALBANY, GA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,041 | 2.63% |
| Lewisburg, TN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.25% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.25% |
| DuBois, PA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 3.50% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 4.75% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 4.25% |
| ANCHORAGE, AK (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 4.25% |
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 | 376 | $63,630,000 | $169,229 | $4,394 | 3.40% |
| VA | 12 | $3,620,000 | $301,667 | $9,147 | 3.05% |
| FHA | 1 | $185,000 | $185,000 | $6,736 | 3.75% |
For 2020, Fedex Employees Credit Association's most frequently originated type of loan was Conventional, with 376 originations. Their 2nd most popular type was VA, with 12 originations.
Loan Reason
For 2020, Fedex Employees Credit Association's most frequently cited loan purpose was Refi, with 140 originations. The 2nd most popular reason was Home Improvement, with 93 originations.
Loan Duration/Length
For 2020, Fedex Employees Credit Association's most frequently cited loan duration was 30 Year, with 172 originations. The 2nd most popular length was 15 Year, with 112 originations.
Origination Fees/Closing Costs
Fedex Employees Credit Association's average total fees were $4,948, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 142 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 201 | $37,545,000 | $186,791 |
| 2.5-3% | 97 | $19,695,000 | $203,041 |
| 4-5% | 40 | $4,320,000 | $108,000 |
| <2.5% | 14 | $3,540,000 | $252,857 |
| 5-6% | 1 | $105,000 | $105,000 |
During 2020, Fedex Employees Credit Association's average interest rate for loans was 3.40%, while their most frequently originated rate bucket for loans was 3-4%, with 201 originations.
Loan Sizing
2020 saw Fedex Employees Credit Association place emphasis on $200k-400k loans with 134 originations, totaling $36,090,000 in origination value.
Applicant Income
Fedex Employees Credit Association lent most frequently to those with incomes in the $50k-75k range, with 99 originations. The second most popular income band? $100k-150k, with 91 originations.
Applicant Debt to Income Ratio
Fedex Employees Credit Association lent most frequently to those with DTI ratios of 20-30%, with 92 originations. The next most common DTI ratio? 30-36%, with 82 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.40%
Fedex Employees Credit Association has an average approval rate.
Pick Rate
Approvals leading to origination49.87%
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 | 389 | $67,435,000 | $173,355 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 3 | $585,000 | $195,000 |
| Single Family (1-4 Units):Site-Built | 386 | $66,850,000 | $173,187 |