Community Development Corp Of Brownsville Mortgage Rates, Fees & Info
Brownsville, TXLEI: 549300RY2RZTSD07CW96
Tax ID: 74-1835777
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Mortgage Data
Review & Overview
Community Development Corp Of Brownsville is a smaller mortgage company specializing in Home Purchase loans. Community Development Corp Of Brownsville 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 two markets are Brownsville and Raymondville .Community Development Corp Of Brownsville has an above average approval rate when compared to the average across all lenders. Community Development Corp Of Brownsville 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 | 3.00% | 4/5/25 |
| 30 Year Conventional Refi | 6.72% | 4/5/25 |
| 30 Year Cash-out Refi | 5.36% | 4/5/25 |
| 30 Year FHA Purchase | 6.78% | 4/5/25 |
| 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 Development Corp Of Brownsville Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
111Origination Dollar Volume (All Markets)
$8,655,000Awards
COMMUNITY DEVELOPMENT CORP OF BROWNSVILLE - 2024
COMMUNITY DEVELOPMENT CORP OF BROWNSVILLE is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Community Development Corp Of Brownsville's average 30 year fixed mortgage rate was
3.29%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -3.26%.
Relative Fees (Closing Costs)
Community Development Corp Of Brownsville's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,922.
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 $8,356.
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 |
|---|---|---|---|---|---|
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 109 | $8,505,000 | $78,028 | $5,886 | 3.28% |
| Raymondville, TX (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $7,751 | 3.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against COMMUNITY DEVELOPMENT CORP OF BROWNSVILLE 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 | 110 | $8,480,000 | $77,091 | $5,886 | 3.25% |
| FHA | 1 | $175,000 | $175,000 | $7,771 | 7.25% |
For 2024, Community Development Corp Of Brownsville's most frequently originated type of loan was Conventional, with 110 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 101 | $7,525,000 | $74,505 | $6,136 | 3.08% |
| Cash Out Refi | 10 | $1,130,000 | $113,000 | $4,714 | 5.38% |
For 2024, Community Development Corp Of Brownsville's most frequently cited loan purpose was Home Purchase, with 101 originations. The 2nd most popular reason was Cash Out Refi, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 111 | $8,655,000 | $77,973 | $5,922 | 3.29% |
For 2024, Community Development Corp Of Brownsville's most frequently cited loan duration was 30 Year, with 111 originations.
Origination Fees/Closing Costs
Community Development Corp Of Brownsville's average total fees were $5,922, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 32 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 57 | $1,155,000 | $20,263 |
| 6-7% | 22 | $2,870,000 | $130,455 |
| 7-8% | 17 | $2,515,000 | $147,941 |
| 5-6% | 15 | $2,115,000 | $141,000 |
During 2024, Community Development Corp Of Brownsville's average interest rate for loans was 3.29%, while their most frequently originated rate bucket for loans was <2.5%, with 57 originations.
Loan Sizing
2024 saw Community Development Corp Of Brownsville place emphasis on $100,000 or less loans with 61 originations, totaling $1,305,000 in origination value.
Applicant Income
Community Development Corp Of Brownsville lent most frequently to those with incomes in the $50k or less range, with 75 originations. The second most popular income band? $50k-75k, with 28 originations.
Applicant Debt to Income Ratio
Community Development Corp Of Brownsville lent most frequently to those with DTI ratios of 30-36%, with 18 originations. The next most common DTI ratio? 47%, with 14 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 108 | $8,530,000 | $78,981 | $5,916 | 3.31% |
| Asian | 3 | $125,000 | $41,667 | $6,189 | 2.42% |
Approval Rates
Total approvals of all applications95.69%
Community Development Corp Of Brownsville has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 111 | $8,655,000 | $77,973 |