Members First Credit Union Mortgage Rates, Fees & Info
Corpus Christi, TXLEI: 549300TJ1PI0CYX4D722
Tax ID: 74-1142836
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Members First Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Members First Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Corpus Christi, San Antonio, Brownsville, and Alice among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Members First Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
28Origination Dollar Volume (All Markets)
$3,240,000Top 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 |
|---|---|---|---|---|---|
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 21 | $2,375,000 | $113,095 | $0 | 0.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 0.00% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 4 | $250,000 | $62,500 | $1,321 | 4.10% |
| Alice, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $75,000 | $75,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 28 | $3,240,000 | $115,714 | $1,321 | 4.10% |
For 2018, Members First Credit Union's most frequently originated type of loan was Conventional, with 28 originations.
Loan Reason
For 2018, Members First Credit Union's most frequently cited loan purpose was Refi, with 15 originations. The 2nd most popular reason was Home Improvement, with 5 originations.
Loan Duration/Length
For 2018, Members First Credit Union's most frequently cited loan duration was 15 Year, with 17 originations. The 2nd most popular length was 10 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1 | $105,000 | $105,000 |
Members First Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1 | $55,000 | $55,000 |
| 4-5% | 1 | $105,000 | $105,000 |
During 2018, Members First Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 1 originations.
Loan Sizing
2018 saw Members First Credit Union place emphasis on $100,000 or less loans with 13 originations, totaling $815,000 in origination value.
Applicant Income
Members First Credit Union lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $50k or less, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 42% | 1 | $105,000 | $105,000 | $1,321 | 4.45% |
Members First Credit Union lent most frequently to those with DTI ratios of 42%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications65.98%
Members First Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination89.29%
Members First Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 28 | $3,240,000 | $115,714 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 28 | $3,240,000 | $115,714 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER FIRST MORTGAGE, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |