Community Resource Credit Union Mortgage Rates, Fees & Info
Baytown, TXLEI: 549300QWA589VRBWSZ92
Tax ID: 74-1109927
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Mortgage Data
Review & Overview
Community Resource Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Community Resource Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Beaumont, Corpus Christi, Brownwood, and Austin among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Community Resource Credit Union 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. Community Resource Credit Union 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 relatively high 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 | 6.70% | 12/9/24 |
30 Year Conventional Refi | 6.71% | 12/9/24 |
30 Year Cash-out Refi | 6.89% | 12/9/24 |
30 Year FHA Purchase | 6.27% | 12/9/24 |
15 Year Conventional Purchase | 6.55% | 12/9/24 |
15 Year Conventional Refi | 6.07% | 12/9/24 |
15 Year Cash-out Refi | 6.07% | 12/9/24 |
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. |
Community Resource Credit Union Mortgage Calculator
Your Estimates
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This is not an official calculator from Community Resource Credit Union. 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
234Origination Dollar Volume (All Markets)
$37,640,000COMMUNITY RESOURCE CREDIT UNION - 2023
COMMUNITY RESOURCE CREDIT UNION is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Community Resource Credit Union's average 30 year fixed mortgage rate was
6.66%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.18%.
Relative Fees (Closing Costs)
Community Resource Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,181.
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 $9,089.
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 |
---|---|---|---|---|---|
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 220 | $35,920,000 | $163,273 | $2,478 | 6.77% |
Outside of Metro Areas | 7 | $645,000 | $92,143 | $2,777 | 6.77% |
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $2,937 | 7.29% |
CORPUS CHRISTI, TX (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $2,890 | 7.44% |
Brownwood, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,013 | 5.63% |
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,080 | 7.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against COMMUNITY RESOURCE CREDIT UNION 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 | 234 | $37,640,000 | $160,855 | $2,493 | 6.78% |
For 2023, Community Resource Credit Union's most frequently originated type of loan was Conventional, with 234 originations.
Loan Reason
For 2023, Community Resource Credit Union's most frequently cited loan purpose was Cash Out Refi, with 154 originations. The 2nd most popular reason was Home Purchase, with 60 originations.
Loan Duration/Length
For 2023, Community Resource Credit Union's most frequently cited loan duration was 15 Year, with 87 originations. The 2nd most popular length was 30 Year, with 75 originations.
Origination Fees/Closing Costs
Community Resource Credit Union's average total fees were $4,181, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 124 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 93 | $18,255,000 | $196,290 |
5-6% | 62 | $10,080,000 | $162,581 |
7-8% | 50 | $6,150,000 | $123,000 |
Over 8% | 29 | $3,155,000 | $108,793 |
During 2023, Community Resource Credit Union's average interest rate for loans was 6.66%, while their most frequently originated rate bucket for loans was 6-7%, with 93 originations.
Loan Sizing
2023 saw Community Resource Credit Union place emphasis on $100,000 or less loans with 100 originations, totaling $6,290,000 in origination value.
Applicant Income
Community Resource Credit Union lent most frequently to those with incomes in the $100k-150k range, with 76 originations. The second most popular income band? $150k-250k, with 55 originations.
Applicant Debt to Income Ratio
Community Resource Credit Union lent most frequently to those with DTI ratios of 30-36%, with 55 originations. The next most common DTI ratio? 20-30%, with 42 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications75.36%
Community Resource Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination67.95%
Community Resource Credit Union 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 | 234 | $37,640,000 | $160,855 |