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

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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 Refi 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 average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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    Originations

    25

    Origination Dollar Volume (All Markets)

    $1,755,000

    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) 24 $1,630,000 $67,917 $0 0.00%
    Outside of Metro Areas 1 $125,000 $125,000 $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 25 $1,755,000 $70,200 $0 0.00%

    For 2019, Mil-way Federal Credit Union's most frequently originated type of loan was Conventional, with 25 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 20 $1,260,000 $63,000 $0 0.00%
    Refi 4 $450,000 $112,500 $0 0.00%
    Home Improvement 1 $45,000 $45,000 $0 0.00%

    For 2019, Mil-way Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 20 originations. The 2nd most popular reason was Refi, with 4 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 25 $1,755,000 $70,200 $0 0.00%

    For 2019, Mil-way Federal Credit Union's most frequently cited loan duration was Other, with 25 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 20 $940,000 $47,000 $0 0.00%
    $100k-200k 4 $590,000 $147,500 $0 0.00%
    $200k-400k 1 $225,000 $225,000 $0 0.00%

    2019 saw Mil-way Federal Credit Union place emphasis on $100,000 or less loans with 20 originations, totaling $940,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 9 $445,000 $49,444 $0 0.00%
    $100k-150k 5 $335,000 $67,000 $0 0.00%
    $75k-100k 5 $585,000 $117,000 $0 0.00%
    $50k or less 4 $290,000 $72,500 $0 0.00%
    $150k-250k 2 $100,000 $50,000 $0 0.00%

    Mil-way Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 9 originations. The second most popular income band? $100k-150k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 25 $1,755,000 $70,200 $0 0.00%

    Mil-way Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 25 $1,755,000 $70,200 $0 0.00%

    Approval Rates

    Total approvals of all applications
    76.47%

    Mil-way Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    96.00%

    Mil-way Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 25 $1,755,000 $70,200

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 25 $1,755,000 $70,200