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, Lafayette, New Orleans, Cincinnati, and Midland among others. We have data for 8 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.
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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
75Origination Dollar Volume (All Markets)
$28,075,000Awards
SCHLUMBERGER EMPLOYEES CREDIT UNION - 2022
SCHLUMBERGER EMPLOYEES CREDIT UNION is a 2022 , due to their low .
For 2022, 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) | 66 | $25,770,000 | $390,455 | $4,110 | 5.24% |
| LAFAYETTE, LA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $2,546 | 4.75% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $3,261 | 5.69% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,562 | 5.25% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,829 | 5.25% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,789 | 5.63% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,943 | 5.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,611 | 4.75% |
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 | 75 | $28,075,000 | $374,333 | $4,022 | 5.24% |
For 2022, Schlumberger Employees Credit Union's most frequently originated type of loan was Conventional, with 75 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 75 | $28,075,000 | $374,333 | $4,022 | 5.24% |
For 2022, Schlumberger Employees Credit Union's most frequently cited loan purpose was Home Purchase, with 75 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 68 | $25,770,000 | $378,971 | $4,036 | 5.32% |
| 15 Year | 7 | $2,305,000 | $329,286 | $3,882 | 4.46% |
For 2022, Schlumberger Employees Credit Union's most frequently cited loan duration was 30 Year, with 68 originations. The 2nd most popular length was 15 Year, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 62 | $23,580,000 | $380,323 |
| $1k-2k | 11 | $4,065,000 | $369,545 |
| $2k-3k | 1 | $175,000 | $175,000 |
| $4k-5k | 1 | $255,000 | $255,000 |
Schlumberger Employees Credit Union's average total fees were $4,036, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 62 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 31 | $11,035,000 | $355,968 |
| 5-6% | 26 | $11,080,000 | $426,154 |
| 6-7% | 13 | $4,445,000 | $341,923 |
| 3-4% | 5 | $1,515,000 | $303,000 |
During 2022, Schlumberger Employees Credit Union's average interest rate for loans was 5.32%, while their most frequently originated rate bucket for loans was 4-5%, with 31 originations.
Loan Sizing
2022 saw Schlumberger Employees Credit Union place emphasis on $200k-400k loans with 46 originations, totaling $14,440,000 in origination value.
Applicant Income
Schlumberger Employees Credit Union lent most frequently to those with incomes in the $100k-150k range, with 35 originations. The second most popular income band? $150k-250k, with 26 originations.
Applicant Debt to Income Ratio
Schlumberger Employees Credit Union lent most frequently to those with DTI ratios of 30-36%, with 24 originations. The next most common DTI ratio? 20-30%, with 21 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 origination69.33%
Schlumberger Employees Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 75 | $28,075,000 | $374,333 |