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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.86% | 4/28/24 |
| 30 Year Conventional Refi | 6.63% | 4/28/24 |
| 30 Year Cash-out Refi | 7.02% | 4/28/24 |
| 30 Year VA Purchase | 6.52% | 4/28/24 |
| 15 Year Conventional Purchase | 6.34% | 4/28/24 |
| 15 Year Conventional Refi | 5.92% | 4/28/24 |
| 15 Year Cash-out Refi | 5.92% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
305Origination Dollar Volume (All Markets)
$41,255,000Top 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) | 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% |
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 | 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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications84.92%
Fedex Employees Credit Association has a below average approval rate.
Pick Rate
Approvals leading to origination51.15%
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 |