Schlumberger Employees Credit Union Mortgage Rates, Fees & Info
Sugar Land, TXLEI: 549300UE4FFDNV7ELD54
Tax ID: 74-6050582
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Mortgage Data
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, Midland, Oklahoma City, Seattle, and Anchorage among others. We have data for 13 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 about average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.11% | 5/5/24 |
| 15 Year Conventional Purchase | 5.65% | 5/5/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
137Origination Dollar Volume (All Markets)
$42,065,000Awards
SCHLUMBERGER EMPLOYEES CREDIT UNION - 2019
SCHLUMBERGER EMPLOYEES CREDIT UNION is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 114 | $35,220,000 | $308,947 | $4,520 | 3.97% |
| MIDLAND, TX (FHA|USDA|VA) | 7 | $1,825,000 | $260,714 | $4,751 | 4.21% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 4 | $1,150,000 | $287,500 | $3,300 | 4.53% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $1,075,000 | $1,075,000 | $9,102 | 3.50% |
| ANCHORAGE, AK (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $2,587 | 4.25% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $2,630 | 4.50% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $5,037 | 4.50% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,285 | 4.50% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,146 | 4.50% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $1,365 | 4.75% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,898 | 3.88% |
| Hobbs, NM (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,669 | 4.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,933 | 4.38% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 137 | $42,065,000 | $307,044 | $4,398 | 4.02% |
For 2019, Schlumberger Employees Credit Union's most frequently originated type of loan was Conventional, with 137 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 130 | $39,680,000 | $305,231 | $4,383 | 4.04% |
| Refi | 7 | $2,385,000 | $340,714 | $4,691 | 3.79% |
For 2019, Schlumberger Employees Credit Union's most frequently cited loan purpose was Home Purchase, with 130 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
For 2019, Schlumberger Employees Credit Union's most frequently cited loan duration was 30 Year, with 108 originations. The 2nd most popular length was 15 Year, with 17 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 99 | $30,415,000 | $307,222 |
| $<1k | 36 | $10,290,000 | $285,833 |
| $4k-5k | 1 | $285,000 | $285,000 |
| $5k+ | 1 | $1,075,000 | $1,075,000 |
Schlumberger Employees Credit Union's average total fees were $4,290, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 99 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 79 | $25,845,000 | $327,152 |
| 4-5% | 56 | $15,740,000 | $281,071 |
| 5-6% | 2 | $480,000 | $240,000 |
During 2019, Schlumberger Employees Credit Union's average interest rate for loans was 4.10%, while their most frequently originated rate bucket for loans was 3-4%, with 79 originations.
Loan Sizing
2019 saw Schlumberger Employees Credit Union place emphasis on $200k-400k loans with 96 originations, totaling $26,960,000 in origination value.
Applicant Income
Schlumberger Employees Credit Union lent most frequently to those with incomes in the $150k-250k range, with 57 originations. The second most popular income band? $100k-150k, with 52 originations.
Applicant Debt to Income Ratio
Schlumberger Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 59 originations. The next most common DTI ratio? 30-36%, with 30 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.58%
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 origination83.94%
Schlumberger Employees Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 137 | $42,065,000 | $307,044 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 137 | $42,065,000 | $307,044 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Selene Finance LP | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 1.4% |
| Selene Finance LP | Conventional home mortgage | Closing on a mortgage | 4 | 1.9% |
| Selene Finance LP | Conventional home mortgage | Incorrect information on your report | 1 | 0.5% |
| Selene Finance LP | Conventional home mortgage | Struggling to pay mortgage | 74 | 34.6% |
| Selene Finance LP | Conventional home mortgage | Trouble during payment process | 49 | 22.9% |
| Selene Finance LP | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 0.5% |
| Selene Finance LP | FHA mortgage | Closing on a mortgage | 3 | 1.4% |
| Selene Finance LP | FHA mortgage | Incorrect information on your report | 3 | 1.4% |
| Selene Finance LP | FHA mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 0.5% |
| Selene Finance LP | FHA mortgage | Struggling to pay mortgage | 19 | 8.9% |
| Selene Finance LP | FHA mortgage | Trouble during payment process | 23 | 10.7% |
| Selene Finance LP | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 0.5% |
| Selene Finance LP | Other type of mortgage | Struggling to pay mortgage | 5 | 2.3% |
| Selene Finance LP | Other type of mortgage | Trouble during payment process | 2 | 0.9% |
| Selene Finance LP | VA mortgage | Closing on a mortgage | 1 | 0.5% |
| Selene Finance LP | VA mortgage | Struggling to pay mortgage | 5 | 2.3% |
| Selene Finance LP | VA mortgage | Trouble during payment process | 19 | 8.9% |