Wright Patman Congressional Federal Credit Union Mortgage Rates, Fees & Info

Oakton, VA

LEI: 549300TTPRGSP8DGY569

Tax ID: 53-0227896

5 stars - out of 5 stars, based on 24 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Wright Patman Congressional Federal Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. Wright Patman Congressional Federal Credit Union has a high proportion of conventional loans. Their top markets include Washington, Baltimore, Denver, Atlanta, and Chicago among others. Wright Patman Congressional Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Wright Patman Congressional Federal Credit Union is typically an average fee lendor.


Originations

589

Origination Dollar Volume (All Markets)

$211,485,000

Awards

WRIGHT PATMAN CONGRESSIONAL FEDERAL CREDIT UNION 30 Year Conventional Loans bronze WRIGHT PATMAN CONGRESSIONAL FEDERAL CREDIT UNION 30 Year Conventional Loans silver WRIGHT PATMAN CONGRESSIONAL FEDERAL CREDIT UNION 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Wright Patman Congressional Federal Credit Union's average 30 year fixed rate mortgage of loans were 2.88%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.27%.

Relative Fees

Wright Patman Congressional Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $4,285.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 356 $135,560,000 $380,787 $3,721 3.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 29 $10,005,000 $345,000 $3,322 3.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 6 $3,840,000 $640,000 $5,307 2.56%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 12 $3,400,000 $283,333 $3,669 2.85%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 6 $2,710,000 $451,667 $4,123 3.17%
SALISBURY, MD-DE (FHA|USDA|VA) 6 $2,680,000 $446,667 $4,661 3.02%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $2,290,000 $381,667 $4,504 2.88%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 5 $2,255,000 $451,000 $5,446 2.73%
Outside of Metro Areas 8 $2,170,000 $271,250 $3,572 2.98%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 5 $1,785,000 $357,000 $4,641 2.60%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $1,680,000 $840,000 $7,563 3.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 5 $1,645,000 $329,000 $3,154 3.25%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 5 $1,635,000 $327,000 $3,086 2.63%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $1,390,000 $695,000 $5,814 2.69%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 3 $1,355,000 $451,667 $4,042 2.83%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 6 $1,350,000 $225,000 $3,480 2.98%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 4 $1,340,000 $335,000 $4,471 2.47%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $1,315,000 $438,333 $2,530 3.50%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $1,160,000 $580,000 $4,149 3.06%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $1,095,000 $365,000 $3,613 2.79%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $1,080,000 $270,000 $2,558 3.15%
PITTSBURGH, PA (FHA|USDA|VA) 3 $1,025,000 $341,667 $5,517 2.46%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 3 $855,000 $285,000 $4,058 2.67%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $800,000 $200,000 $4,000 3.31%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 4 $800,000 $200,000 $4,283 2.78%
Glenwood Springs, CO (FHA|USDA|VA) 2 $800,000 $400,000 $3,429 2.88%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $780,000 $390,000 $6,920 2.63%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $770,000 $385,000 $5,159 2.88%
BATON ROUGE, LA (FHA|USDA|VA) 2 $750,000 $375,000 $3,383 2.81%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $750,000 $375,000 $3,448 3.06%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $725,000 $725,000 $5,321 2.88%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $720,000 $180,000 $3,253 2.75%
RALEIGH-CARY, NC (FHA|USDA|VA) 3 $625,000 $208,333 $3,337 2.46%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $600,000 $300,000 $4,910 3.25%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $550,000 $275,000 $2,747 2.75%
ASHEVILLE, NC (FHA|USDA|VA) 2 $550,000 $275,000 $3,738 3.00%
Edwards, CO (FHA|USDA|VA) 1 $545,000 $545,000 $3,418 2.88%
TUCSON, AZ (FHA|USDA|VA) 2 $530,000 $265,000 $4,855 2.69%
Angola, IN (FHA|USDA|VA) 1 $495,000 $495,000 $2,672 2.13%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $480,000 $240,000 $2,852 3.25%
RICHMOND, VA (FHA|USDA|VA) 3 $475,000 $158,333 $2,336 4.16%
WILMINGTON, NC (FHA|USDA|VA) 2 $460,000 $230,000 $3,119 3.19%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $455,000 $455,000 $4,526 2.88%
SAVANNAH, GA (FHA|USDA|VA) 1 $435,000 $435,000 $3,327 2.75%
ROCHESTER, NY (FHA|USDA|VA) 1 $435,000 $435,000 $3,992 2.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $430,000 $215,000 $6,690 2.38%
TULSA, OK (FHA|USDA|VA) 1 $425,000 $425,000 $4,573 3.13%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $425,000 $425,000 $3,243 2.88%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $425,000 $425,000 $4,118 2.88%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $415,000 $415,000 $4,639 3.13%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $415,000 $415,000 $6,148 2.13%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $405,000 $405,000 $5,578 3.38%
EspaƱola, NM (FHA|USDA|VA) 1 $405,000 $405,000 $2,811 2.63%
Elizabeth City, NC (FHA|USDA|VA) 1 $385,000 $385,000 $3,596 2.88%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 2 $360,000 $180,000 $2,458 2.81%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $355,000 $355,000 $2,733 3.25%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $355,000 $355,000 $4,385 2.88%
COLUMBIA, SC (FHA|USDA|VA) 1 $355,000 $355,000 $3,665 2.75%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $335,000 $335,000 $2,208 2.38%
Breckenridge, CO (FHA|USDA|VA) 1 $335,000 $335,000 $2,428 2.63%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $325,000 $325,000 $5,235 2.88%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $315,000 $315,000 $3,142 2.63%
GREENVILLE, NC (FHA|USDA|VA) 1 $315,000 $315,000 $3,460 2.88%
GETTYSBURG, PA (FHA|USDA|VA) 1 $305,000 $305,000 $5,340 3.25%
RENO, NV (FHA|USDA|VA) 1 $305,000 $305,000 $2,550 2.88%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $305,000 $305,000 $4,267 2.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $305,000 $305,000 $2,667 2.63%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,022 2.88%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $3,418 2.50%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $295,000 $295,000 $3,309 3.13%
Whitewater, WI (FHA|USDA|VA) 1 $295,000 $295,000 $3,008 2.88%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $285,000 $285,000 $3,341 2.88%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $275,000 $275,000 $4,711 2.50%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $275,000 $275,000 $3,887 3.00%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $275,000 $275,000 $4,960 2.88%
EL CENTRO, CA (FHA|USDA|VA) 1 $265,000 $265,000 $3,363 3.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $245,000 $245,000 $4,110 3.63%
AKRON, OH (FHA|USDA|VA) 1 $225,000 $225,000 $2,982 2.63%
Wilson, NC (FHA|USDA|VA) 1 $215,000 $215,000 $4,785 2.00%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $215,000 $215,000 $3,319 3.13%
Pottsville, PA (FHA|USDA|VA) 1 $205,000 $205,000 $3,724 2.88%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $205,000 $205,000 $3,573 3.00%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $195,000 $195,000 $4,449 2.25%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $195,000 $195,000 $3,297 2.63%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $175,000 $175,000 $3,424 2.63%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $175,000 $175,000 $3,358 2.38%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $175,000 $175,000 $438 5.49%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $175,000 $175,000 $3,363 3.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,141 2.75%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $155,000 $155,000 $4,370 2.00%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $145,000 $145,000 $2,878 3.00%
HOUMA-THIBODAUX, LA (FHA|USDA|VA) 1 $115,000 $115,000 $3,001 2.63%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $105,000 $105,000 $3,136 3.00%
Holland, MI (FHA|USDA|VA) 1 $105,000 $105,000 $1,969 2.25%
Americus, GA (FHA|USDA|VA) 1 $95,000 $95,000 $3,082 2.63%
SANTA FE, NM (FHA|USDA|VA) 1 $95,000 $95,000 $4,601 2.75%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $95,000 $95,000 $3,380 2.38%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $85,000 $85,000 $2,833 2.38%
Corning, NY (FHA|USDA|VA) 1 $75,000 $75,000 $6,953 2.88%
ERIE, PA (FHA|USDA|VA) 1 $65,000 $65,000 $4,135 3.13%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $55,000 $55,000 $1,163 5.49%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $15,000 $15,000 $408 4.99%

Wright Patman Congressional Federal Credit Union's top markets include Washington, Baltimore, Denver, Atlanta, and Chicago among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 589 $211,485,000 $359,058 $3,768 2.97%

For the 2021 period, Wright Patman Congressional Federal Credit Union's most frequently originated loan type of loans were Conventional, with 589 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 208 $73,510,000 $353,413 $3,874 2.65%
Cash Out Refi 198 $65,010,000 $328,333 $3,307 3.23%
Home Purchase 137 $58,855,000 $429,599 $4,627 2.89%
Other 36 $12,210,000 $339,167 $2,853 3.32%
Home Improvement 10 $1,900,000 $190,000 $2,262 3.93%

For the 2021, Wright Patman Congressional Federal Credit Union's most frequently cited loan purpose of loans were Refi, with 208 originations. The 2nd most popular reason of loans were Cash Out Refi, with 198 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 358 $145,710,000 $407,011 $4,285 2.88%
15 Year 126 $37,220,000 $295,397 $3,321 2.76%
20 Year 67 $22,935,000 $342,313 $3,118 3.08%
10 Year 32 $5,170,000 $161,563 $1,737 4.27%
5 Year 6 $450,000 $75,000 $439 4.16%

For the 2021, Wright Patman Congressional Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 358 originations. The 2nd most popular length of loans were 15 Year, with 126 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 473 $177,315,000 $374,873
$<1k 41 $3,055,000 $74,512
$2k-3k 28 $8,880,000 $317,143
$3k-4k 24 $9,490,000 $395,417
$5k+ 23 $12,745,000 $554,130

$4,285 of loans were Wright Patman Congressional Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 473 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 308 $113,940,000 $369,935
<2.5% 137 $52,335,000 $382,007
3-4% 107 $42,325,000 $395,561
5-6% 15 $1,425,000 $95,000
4-5% 14 $1,040,000 $74,286
6-7% 8 $420,000 $52,500

During 2021, Wright Patman Congressional Federal Credit Union's average interest rate of loans were 2.88%, while their most frequently originated rate bucket of loans were 2.5-3%, with 308 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 249 $73,575,000 $295,482 $3,601 2.83%
$400k-600k 139 $66,395,000 $477,662 $4,409 2.81%
$100k-200k 79 $12,745,000 $161,329 $2,993 2.89%
$600k-1MM 59 $44,845,000 $760,085 $5,214 2.72%
$100,000 or less 54 $3,340,000 $61,852 $1,653 4.42%
$1MM+ 9 $10,585,000 $1,176,111 $8,525 2.69%

2021 saw Wright Patman Congressional Federal Credit Union place emphasis on $200k-400k loans with 249 originations, totaling $73,575,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 183 $66,975,000 $365,984 $3,663 3.02%
$100k-150k 137 $39,795,000 $290,474 $3,550 3.03%
$250k+ 132 $73,250,000 $554,924 $4,701 2.80%
$75k-100k 77 $19,165,000 $248,896 $3,362 3.07%
$50k-75k 43 $9,545,000 $221,977 $2,946 2.96%
$50k or less 13 $1,765,000 $135,769 $3,498 2.69%

Wright Patman Congressional Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 183 originations. The second most popular income band? $100k-150k, with 137 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 182 $66,660,000 $366,264 $3,854 2.94%
<20% 123 $46,885,000 $381,179 $3,939 2.77%
30-36% 94 $35,230,000 $374,787 $3,754 3.01%
40% 23 $8,205,000 $356,739 $3,687 3.02%
38% 20 $8,290,000 $414,500 $3,988 2.93%
37% 19 $5,155,000 $271,316 $3,567 3.08%
43% 17 $3,995,000 $235,000 $2,873 3.31%
42% 16 $6,670,000 $416,875 $4,155 2.98%
36% 15 $5,345,000 $356,333 $4,480 2.63%
41% 12 $4,260,000 $355,000 $3,497 2.84%
45% 11 $4,885,000 $444,091 $4,040 3.24%
44% 11 $2,885,000 $262,273 $3,284 3.00%
46% 10 $2,270,000 $227,000 $3,121 3.45%
47% 10 $3,620,000 $362,000 $2,948 3.45%
48% 9 $2,475,000 $275,000 $2,974 3.36%
39% 7 $2,435,000 $347,857 $4,201 2.57%
49% 6 $1,350,000 $225,000 $2,467 3.91%
50-60% 3 $505,000 $168,333 $2,422 4.04%
>60% 1 $365,000 $365,000 $4,378 2.75%

Wright Patman Congressional Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 182 originations. The next most common DTI ratio? <20%, with 123 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 346 $123,790,000 $357,775 $3,662 2.98%
Not provided 117 $44,785,000 $382,778 $4,025 2.88%
Black 91 $29,325,000 $322,253 $3,486 3.13%
Asian 13 $6,035,000 $464,231 $4,786 2.63%
Other Asian 4 $2,090,000 $522,500 $6,496 2.59%
Asian Indian 6 $1,970,000 $328,333 $3,752 2.85%
American Indian 7 $1,435,000 $205,000 $4,802 2.71%
Native Hawaiian 1 $595,000 $595,000 $5,097 2.75%
Filipino 1 $395,000 $395,000 $3,275 2.75%
Other Pacific Islander 1 $385,000 $385,000 $2,774 3.25%
Guamanian 1 $375,000 $375,000 $4,132 3.13%
Japanese 1 $305,000 $305,000 $4,883 2.38%

Approval Rates

Total approvals of all applications
88.00%

Wright Patman Congressional Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
76.61%

Wright Patman Congressional Federal Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 589 $211,485,000 $359,058

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
589 $211,485,000 $359,058

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 68 $17,880,000 $262,941 $3,267 2.96%
40-60% 125 $43,925,000 $351,400 $3,602 2.71%
60-80% 240 $98,490,000 $410,375 $4,120 2.80%
80-100% 116 $48,410,000 $417,328 $4,451 2.92%
Under 20% 40 $2,780,000 $69,500 $1,051 4.92%