Community Resource Credit Union Mortgage Rates, Fees & Info

Baytown, TX

LEI: 549300QWA589VRBWSZ92

Tax ID: 74-1109927

5 stars - Updated: 7/20/24 - out of 5 stars, based on 15 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.70% 7/20/24
30 Year Conventional Refi 6.71% 7/20/24
30 Year Cash-out Refi 6.89% 7/20/24
30 Year FHA Purchase 6.27% 7/20/24
15 Year Conventional Purchase 6.55% 7/20/24
15 Year Conventional Refi 6.07% 7/20/24
15 Year Cash-out Refi 6.07% 7/20/24
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

Estimated Loan Payment: Update the calculator values and click calculate payment!

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

234

Origination Dollar Volume (All Markets)

$37,640,000

Awards

COMMUNITY RESOURCE CREDIT UNION 30 Year Conventional Loans gold
Show all (1) awards

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%
Community Resource Credit Union's top markets include Houston, Beaumont, Corpus Christi, Brownwood, and Austin among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • 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.

    AMOCO
    Similarity Rank: 258
    FIRST CONTINENTAL MORTGAGE, LTD.
    Similarity Rank: 300
    GIBRALTAR MORTGAGE SERVICES, LLC
    Similarity Rank: 360
    East West Bank
    Similarity Rank: 703
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 714
    AAXY L.L.C.
    Similarity Rank: 736
    PRIMEWAY
    Similarity Rank: 1048
    HOMEWAY MORTGAGE LLC
    Similarity Rank: 1050
    FIRST SERVICE Credit Union
    Similarity Rank: 1054

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 154 $16,660,000 $108,182 $1,584 6.86%
    Home Purchase 60 $15,550,000 $259,167 $3,901 6.58%
    Refi 10 $2,860,000 $286,000 $3,762 6.56%
    Other 7 $2,235,000 $319,286 $9,629 6.96%
    Home Improvement 3 $335,000 $111,667 $2,310 6.96%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 87 $7,675,000 $88,218 $1,568 6.88%
    30 Year 75 $21,365,000 $284,867 $4,181 6.66%
    20 Year 47 $6,075,000 $129,255 $1,918 6.95%
    10 Year 19 $1,565,000 $82,368 $1,602 6.47%
    Other 4 $860,000 $215,000 $640 6.91%
    5 Year 2 $100,000 $50,000 $1,526 5.63%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 124 $13,620,000 $109,839
    $4k-5k 4 $1,350,000 $337,500
    $5k+ 4 $1,810,000 $452,500
    $1k-2k 1 $245,000 $245,000
    $2k-3k 1 $155,000 $155,000
    $3k-4k 1 $255,000 $255,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 100 $6,290,000 $62,900 $1,465 6.97%
    $100k-200k 67 $9,725,000 $145,149 $1,989 6.78%
    $200k-400k 54 $14,810,000 $274,259 $3,827 6.53%
    $400k-600k 10 $4,820,000 $482,000 $8,655 6.49%
    $600k-1MM 3 $1,995,000 $665,000 $5,245 6.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 76 $11,370,000 $149,605 $2,305 6.93%
    $150k-250k 55 $12,165,000 $221,182 $3,313 7.01%
    $75k-100k 43 $5,985,000 $139,186 $2,109 6.50%
    $50k-75k 33 $3,625,000 $109,848 $2,247 6.47%
    $250k+ 14 $3,420,000 $244,286 $2,260 6.94%
    $50k or less 13 $1,075,000 $82,692 $2,261 6.48%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 55 $7,775,000 $141,364 $2,518 6.91%
    20-30% 42 $6,170,000 $146,905 $2,145 6.76%
    <20% 19 $3,235,000 $170,263 $2,056 6.72%
    36% 17 $2,575,000 $151,471 $2,975 6.96%
    43% 13 $1,705,000 $131,154 $1,626 7.07%
    41% 11 $1,945,000 $176,818 $2,262 6.83%
    42% 9 $1,405,000 $156,111 $2,151 7.01%
    37% 9 $1,945,000 $216,111 $3,521 6.40%
    46% 8 $1,160,000 $145,000 $2,254 6.30%
    38% 7 $685,000 $97,857 $1,830 6.61%
    44% 7 $1,015,000 $145,000 $2,226 6.77%
    47% 6 $1,360,000 $226,667 $4,806 6.42%
    49% 6 $950,000 $158,333 $2,853 6.94%
    39% 6 $1,460,000 $243,333 $4,177 6.60%
    40% 4 $1,550,000 $387,500 $3,815 6.41%
    45% 4 $430,000 $107,500 $2,151 6.81%
    48% 4 $890,000 $222,500 $3,025 6.53%
    50-60% 2 $330,000 $165,000 $1,049 5.69%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 215 $34,445,000 $160,209 $2,535 6.78%
    Black 16 $2,870,000 $179,375 $2,044 6.76%
    American Indian 2 $270,000 $135,000 $2,293 6.50%
    Asian 1 $55,000 $55,000 $1,087 8.25%

    Approval Rates

    Total approvals of all applications
    75.36%

    Community Resource Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    67.95%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    234 $37,640,000 $160,855

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 64 $5,870,000 $91,719 $1,572 6.79%
    40-60% 26 $3,680,000 $141,538 $2,367 6.32%
    60-80% 45 $10,805,000 $240,111 $3,944 6.85%
    80-100% 48 $14,070,000 $293,125 $3,914 6.56%
    Under 20% 51 $3,215,000 $63,039 $1,235 7.13%