Fedex Employees Credit Association Mortgage Rates, Fees & Info

Memphis, TN

LEI: 549300OGIGNKGO2DX942

Tax ID: 62-0926739

Latest/2023 | 2022 Data | 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 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.

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% 3/28/24
30 Year Conventional Refi 6.63% 3/28/24
30 Year Cash-out Refi 7.02% 3/28/24
30 Year VA Purchase 6.52% 3/28/24
15 Year Conventional Purchase 6.34% 3/28/24
15 Year Conventional Refi 5.92% 3/28/24
15 Year Cash-out Refi 5.92% 3/28/24
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






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

389

Origination Dollar Volume (All Markets)

$67,435,000

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
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%
Fedex Employees Credit Association's top markets include Memphis, Los Angeles, Dallas, Pittsburgh, and Miami among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • 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.
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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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 140 $27,970,000 $199,786 $4,302 3.25%
    Home Improvement 93 $7,285,000 $78,333 $5,963 3.74%
    Home Purchase 83 $17,565,000 $211,627 $4,673 3.31%
    Cash Out Refi 73 $14,615,000 $200,205 $4,774 3.38%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 172 $40,700,000 $236,628 $4,948 3.40%
    15 Year 112 $14,830,000 $132,411 $3,893 3.34%
    Other 39 $3,095,000 $79,359 $4,183 3.54%
    20 Year 28 $6,220,000 $222,143 $4,773 3.25%
    10 Year 26 $2,120,000 $81,538 $3,018 3.55%
    5 Year 12 $470,000 $39,167 $0 3.48%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 142 $28,740,000 $202,394
    $2k-3k 55 $12,385,000 $225,182
    $<1k 26 $3,930,000 $151,154
    $5k+ 23 $6,845,000 $297,609
    $3k-4k 18 $5,220,000 $290,000
    $4k-5k 16 $4,280,000 $267,500

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 134 $36,090,000 $269,328 $5,189 3.24%
    $100,000 or less 125 $6,595,000 $52,760 $3,017 3.65%
    $100k-200k 115 $17,025,000 $148,043 $3,914 3.33%
    $400k-600k 13 $5,905,000 $454,231 $7,340 3.53%
    $1MM+ 1 $1,145,000 $1,145,000 $5,991 2.50%
    $600k-1MM 1 $675,000 $675,000 $7,112 3.25%

    2020 saw Fedex Employees Credit Association place emphasis on $200k-400k loans with 134 originations, totaling $36,090,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 99 $15,385,000 $155,404 $4,544 3.33%
    $100k-150k 91 $17,915,000 $196,868 $4,597 3.51%
    $75k-100k 87 $15,485,000 $177,989 $4,432 3.36%
    $150k-250k 58 $10,630,000 $183,276 $5,662 3.40%
    $50k or less 32 $3,480,000 $108,750 $3,581 3.29%
    $250k+ 11 $3,355,000 $305,000 $5,213 3.24%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 92 $14,620,000 $158,913 $4,505 3.37%
    30-36% 82 $16,770,000 $204,512 $4,115 3.40%
    <20% 55 $5,805,000 $105,545 $4,026 3.54%
    36% 19 $2,865,000 $150,789 $4,375 3.32%
    41% 17 $3,745,000 $220,294 $4,183 3.43%
    42% 14 $2,670,000 $190,714 $4,921 3.22%
    38% 12 $2,080,000 $173,333 $4,218 3.32%
    >60% 12 $740,000 $61,667 $0 4.13%
    39% 11 $2,035,000 $185,000 $3,778 3.34%
    44% 11 $3,195,000 $290,455 $8,884 3.50%
    46% 9 $1,775,000 $197,222 $5,235 2.97%
    37% 8 $2,050,000 $256,250 $4,985 3.39%
    47% 8 $1,560,000 $195,000 $5,435 3.29%
    49% 8 $2,310,000 $288,750 $6,864 3.28%
    40% 7 $1,415,000 $202,143 $4,827 3.48%
    43% 6 $1,120,000 $186,667 $3,178 3.25%
    50-60% 5 $365,000 $73,000 $2,041 2.63%
    48% 3 $775,000 $258,333 $7,939 3.50%
    45% 3 $555,000 $185,000 $3,827 2.88%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 191 $36,225,000 $189,660 $4,405 3.42%
    Not provided 94 $17,220,000 $183,191 $5,208 3.31%
    Black 58 $10,250,000 $176,724 $4,539 3.33%
    Asian 43 $3,345,000 $77,791 $4,666 3.65%
    American Indian 3 $395,000 $131,667 $4,068 2.96%

    Approval Rates

    Total approvals of all applications
    93.40%

    Fedex Employees Credit Association has an average approval rate.

    Pick Rate

    Approvals leading to origination
    49.87%

    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

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $3,430,000 $107,188 $3,941 3.49%
    40-60% 37 $6,165,000 $166,622 $3,747 3.10%
    60-80% 134 $30,480,000 $227,463 $4,530 3.27%
    80-100% 97 $22,155,000 $228,402 $4,894 3.38%
    Over 100% 7 $1,255,000 $179,286 $10,229 3.35%
    Under 20% 48 $1,890,000 $39,375 $2,997 3.81%