Texas Federal Credit Union Mortgage Rates, Fees & Info
Dallas, TXLEI: 549300SJWQIDIVGK4U55
Tax ID: 75-0793105
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Texas Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Texas Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Dallas.Texas Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Texas Federal 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 about average rates.
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Originations
8Origination Dollar Volume (All Markets)
$2,630,000Top 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 |
|---|---|---|---|---|---|
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 8 | $2,630,000 | $328,750 | $3,029 | 3.64% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 8 | $2,630,000 | $328,750 | $3,029 | 3.64% |
For 2019, Texas Federal Credit Union's most frequently originated type of loan was Conventional, with 8 originations.
Loan Reason
For 2019, Texas Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 5 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 4 | $1,430,000 | $357,500 | $2,443 | 3.69% |
| 15 Year | 3 | $805,000 | $268,333 | $4,762 | 3.71% |
| 20 Year | 1 | $395,000 | $395,000 | $177 | 3.25% |
For 2019, Texas Federal Credit Union's most frequently cited loan duration was 30 Year, with 4 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 7 | $2,475,000 | $353,571 |
| $2k-3k | 1 | $155,000 | $155,000 |
Texas Federal Credit Union's average total fees were $2,443, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 7 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 8 | $2,630,000 | $328,750 |
During 2019, Texas Federal Credit Union's average interest rate for loans was 3.69%, while their most frequently originated rate bucket for loans was 3-4%, with 8 originations.
Loan Sizing
2019 saw Texas Federal Credit Union place emphasis on $200k-400k loans with 5 originations, totaling $1,795,000 in origination value.
Applicant Income
Texas Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 3 originations. The second most popular income band? $150k-250k, with 2 originations.
Applicant Debt to Income Ratio
Texas Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 3 originations. The next most common DTI ratio? 43%, with 2 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 8 | $2,630,000 | $328,750 | $3,029 | 3.64% |
Approval Rates
Total approvals of all applications70.00%
Texas Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination62.50%
Texas Federal 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 | 8 | $2,630,000 | $328,750 |