Schlumberger Employees Credit Union Mortgage Rates, Fees & Info

Sugar Land, TX

LEI: 549300UE4FFDNV7ELD54

Tax ID: 74-6050582

5 stars - Updated: 11/17/24 - out of 5 stars, based on 12 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Schlumberger Employees Credit Union is a smaller credit union specializing in Home Purchase loans. Schlumberger Employees Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Dallas, Midland, Portland, and Denver among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Schlumberger Employees 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. Schlumberger Employees 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 relatively high rates.

    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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.11% 11/17/24
    15 Year Conventional Purchase 5.65% 11/17/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Schlumberger Employees Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Schlumberger Employees Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    134

    Origination Dollar Volume (All Markets)

    $51,340,000

    Awards

    SCHLUMBERGER EMPLOYEES CREDIT UNION 30 Year Conventional Loans gold SCHLUMBERGER EMPLOYEES CREDIT UNION 30 Year Conventional Loans bronze
    Show all (2) awards

    Relative Rate

    Schlumberger Employees Credit Union's average 30 year fixed mortgage rate was 6.42%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.06%.

    Relative Fees (Closing Costs)

    Schlumberger Employees Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,107.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 122 $46,890,000 $384,344 $4,088 6.35%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $1,050,000 $525,000 $5,789 6.56%
    MIDLAND, TX (FHA|USDA|VA) 2 $760,000 $380,000 $2,689 6.25%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $695,000 $695,000 $2,362 6.75%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $465,000 $465,000 $1,521 6.88%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $375,000 $375,000 $3,143 6.25%
    LAFAYETTE, LA (FHA|USDA|VA) 1 $305,000 $305,000 $1,215 6.25%
    LAWRENCE, KS (FHA|USDA|VA) 1 $295,000 $295,000 $1,277 6.50%
    BILLINGS, MT (FHA|USDA|VA) 1 $225,000 $225,000 $4,130 6.88%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $215,000 $215,000 $3,485 5.88%
    HOUMA-THIBODAUX, LA (FHA|USDA|VA) 1 $65,000 $65,000 $3,470 6.25%
    Schlumberger Employees Credit Union's top markets include Houston, Dallas, Midland, Portland, and Denver among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Louisiana (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SCHLUMBERGER EMPLOYEES CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    AMOCO
    Similarity Rank: 258
    FIRST CONTINENTAL MORTGAGE, LTD.
    Similarity Rank: 300
    GIBRALTAR MORTGAGE SERVICES, LLC
    Similarity Rank: 360
    East West Bank
    Similarity Rank: 703
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 714
    AAXY L.L.C.
    Similarity Rank: 736
    SCHLUMBERGER EMPLOYEES CREDIT UNION
    Similarity Rank: 770
    PRIMEWAY
    Similarity Rank: 1048
    HOMEWAY MORTGAGE LLC
    Similarity Rank: 1050
    FIRST SERVICE Credit Union
    Similarity Rank: 1054

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 134 $51,340,000 $383,134 $4,002 6.36%

    For 2023, Schlumberger Employees Credit Union's most frequently originated type of loan was Conventional, with 134 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 134 $51,340,000 $383,134 $4,002 6.36%

    For 2023, Schlumberger Employees Credit Union's most frequently cited loan purpose was Home Purchase, with 134 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 116 $45,770,000 $394,569 $4,107 6.42%
    15 Year 14 $4,660,000 $332,857 $3,606 5.95%
    10 Year 3 $625,000 $208,333 $2,465 6.00%
    20 Year 1 $285,000 $285,000 $1,925 6.25%

    For 2023, Schlumberger Employees Credit Union's most frequently cited loan duration was 30 Year, with 116 originations. The 2nd most popular length was 15 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 104 $38,890,000 $373,942
    $1k-2k 30 $12,450,000 $415,000

    Schlumberger Employees Credit Union's average total fees were $4,107, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 104 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 103 $40,785,000 $395,971
    5-6% 28 $9,350,000 $333,929
    7-8% 2 $770,000 $385,000
    4-5% 1 $435,000 $435,000

    During 2023, Schlumberger Employees Credit Union's average interest rate for loans was 6.42%, while their most frequently originated rate bucket for loans was 6-7%, with 103 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 65 $20,255,000 $311,615 $3,385 6.34%
    $400k-600k 43 $20,055,000 $466,395 $4,679 6.42%
    $600k-1MM 13 $9,085,000 $698,846 $6,292 6.39%
    $100k-200k 11 $1,805,000 $164,091 $2,372 6.15%
    $100,000 or less 2 $140,000 $70,000 $3,581 6.56%

    2023 saw Schlumberger Employees Credit Union place emphasis on $200k-400k loans with 65 originations, totaling $20,255,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 54 $17,180,000 $318,148 $3,489 6.33%
    $150k-250k 54 $22,260,000 $412,222 $4,159 6.45%
    $250k+ 21 $10,945,000 $521,190 $5,121 6.27%
    $75k-100k 4 $890,000 $222,500 $3,063 6.13%
    $50k or less 1 $65,000 $65,000 $3,470 6.25%

    Schlumberger Employees Credit Union lent most frequently to those with incomes in the $100k-150k range, with 54 originations. The second most popular income band? $150k-250k, with 54 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 45 $16,245,000 $361,000 $3,620 6.22%
    30-36% 31 $12,725,000 $410,484 $4,650 6.44%
    41% 7 $2,545,000 $363,571 $3,474 6.30%
    36% 7 $2,385,000 $340,714 $4,166 6.32%
    40% 6 $2,030,000 $338,333 $4,113 6.52%
    44% 6 $2,310,000 $385,000 $3,582 6.63%
    <20% 5 $1,555,000 $311,000 $3,414 6.25%
    37% 5 $1,605,000 $321,000 $3,205 6.58%
    39% 5 $2,185,000 $437,000 $4,556 6.48%
    42% 5 $2,365,000 $473,000 $5,292 6.50%
    45% 3 $1,075,000 $358,333 $3,613 6.42%
    47% 3 $1,285,000 $428,333 $4,443 6.54%
    38% 2 $1,200,000 $600,000 $3,919 6.44%
    48% 2 $790,000 $395,000 $3,551 6.13%
    43% 1 $445,000 $445,000 $3,394 6.50%
    46% 1 $595,000 $595,000 $4,734 6.13%

    Schlumberger Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 72 $27,650,000 $384,028 $4,056 6.38%
    Not provided 25 $10,105,000 $404,200 $4,045 6.29%
    Asian 18 $7,120,000 $395,556 $4,007 6.47%
    Black 10 $3,380,000 $338,000 $4,261 6.23%
    Asian Indian 5 $1,645,000 $329,000 $2,943 6.55%
    Other Asian 4 $1,440,000 $360,000 $3,405 6.13%

    Approval Rates

    Total approvals of all applications
    99.33%

    Schlumberger Employees Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    88.81%

    Schlumberger Employees Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 134 $51,340,000 $383,134

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    134 $51,340,000 $383,134

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $955,000 $191,000 $2,319 6.13%
    40-60% 17 $5,255,000 $309,118 $3,474 6.24%
    60-80% 78 $32,700,000 $419,231 $4,311 6.38%
    80-100% 32 $12,250,000 $382,813 $3,872 6.41%
    Under 20% 2 $180,000 $90,000 $2,704 6.38%