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, 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 a low 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% | 4/21/24 |
| 30 Year Conventional Refi | 6.63% | 4/21/24 |
| 30 Year Cash-out Refi | 7.02% | 4/21/24 |
| 30 Year VA Purchase | 6.52% | 4/21/24 |
| 15 Year Conventional Purchase | 6.34% | 4/21/24 |
| 15 Year Conventional Refi | 5.92% | 4/21/24 |
| 15 Year Cash-out Refi | 5.92% | 4/21/24 |
| 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
444Origination Dollar Volume (All Markets)
$80,980,000Top 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) | 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% |
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 | 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
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
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
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
2021 saw Fedex Employees Credit Association place emphasis on $100k-200k loans with 154 originations, totaling $23,190,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications89.18%
Fedex Employees Credit Association has an average approval rate.
Pick Rate
Approvals leading to origination65.54%
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 |