Mil-way Federal Credit Union Mortgage Rates, Fees & Info

TEXARKANA, AR

LEI: 549300U4EQSH700I1044

Tax ID: 71-0292564

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

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Mil-way Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Mil-way Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Texarkana.

    Mil-way Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

    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.


    Originations

    30

    Origination Dollar Volume (All Markets)

    $2,460,000

    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
    TEXARKANA, TX-AR (FHA|USDA|VA) 30 $2,460,000 $82,000 $0 0.00%
    Mil-way Federal Credit Union's top markets include and Texarkana among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 30 $2,460,000 $82,000 $0 0.00%

    For 2018, Mil-way Federal Credit Union's most frequently originated type of loan was Conventional, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 21 $1,485,000 $70,714 $0 0.00%
    Refi 5 $375,000 $75,000 $0 0.00%
    Home Purchase 4 $600,000 $150,000 $0 0.00%

    For 2018, Mil-way Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 21 originations. The 2nd most popular reason was Refi, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 30 $2,460,000 $82,000 $0 0.00%

    For 2018, Mil-way Federal Credit Union's most frequently cited loan duration was Other, with 30 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 20 $910,000 $45,500 $0 0.00%
    $100k-200k 9 $1,285,000 $142,778 $0 0.00%
    $200k-400k 1 $265,000 $265,000 $0 0.00%

    2018 saw Mil-way Federal Credit Union place emphasis on $100,000 or less loans with 20 originations, totaling $910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 12 $910,000 $75,833 $0 0.00%
    $50k or less 7 $405,000 $57,857 $0 0.00%
    $100k-150k 6 $490,000 $81,667 $0 0.00%
    $75k-100k 4 $390,000 $97,500 $0 0.00%
    $150k-250k 1 $265,000 $265,000 $0 0.00%

    Mil-way Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 12 originations. The second most popular income band? $50k or less, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 30 $2,460,000 $82,000 $0 0.00%

    Mil-way Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 30 $2,460,000 $82,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.43%

    Mil-way Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.33%

    Mil-way Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 30 $2,460,000 $82,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 30 $2,460,000 $82,000