South Texas Federal Credit Union Mortgage Rates, Fees & Info
McAllen, TXLEI: 549300VT015S84ONBK83
Tax ID: 74-1315029
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Mortgage Data
Review & Overview
South Texas Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. South Texas Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Mcallen.South Texas Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. South Texas Federal 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.
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Originations
4Origination Dollar Volume (All Markets)
$420,000Top 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 |
---|---|---|---|---|---|
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 4 | $420,000 | $105,000 | $2,961 | 4.28% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 4 | $420,000 | $105,000 | $2,961 | 4.28% |
For 2019, South Texas Federal Credit Union's most frequently originated type of loan was Conventional, with 4 originations.
Loan Reason
Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Home Purchase | 2 | $260,000 | $130,000 | $2,513 | 4.38% |
Refi | 1 | $65,000 | $65,000 | $3,598 | 3.63% |
Cash Out Refi | 1 | $95,000 | $95,000 | $3,220 | 4.75% |
For 2019, South Texas Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 2 originations. The 2nd most popular reason was Refi, with 1 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
15 Year | 2 | $160,000 | $80,000 | $3,409 | 4.19% |
30 Year | 2 | $260,000 | $130,000 | $2,513 | 4.38% |
For 2019, South Texas Federal Credit Union's most frequently cited loan duration was 15 Year, with 2 originations. The 2nd most popular length was 30 Year, with 2 originations.
Origination Fees/Closing Costs
Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
---|---|---|---|
$<1k | 2 | $240,000 | $120,000 |
$1k-2k | 1 | $65,000 | $65,000 |
$2k-3k | 1 | $115,000 | $115,000 |
South Texas Federal Credit Union's average total fees were $2,513, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
4-5% | 3 | $355,000 | $118,333 |
3-4% | 1 | $65,000 | $65,000 |
During 2019, South Texas Federal Credit Union's average interest rate for loans was 4.38%, while their most frequently originated rate bucket for loans was 4-5%, with 3 originations.
Loan Sizing
Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$100,000 or less | 2 | $160,000 | $80,000 | $3,409 | 4.19% |
$100k-200k | 2 | $260,000 | $130,000 | $2,513 | 4.38% |
2019 saw South Texas Federal Credit Union place emphasis on $100,000 or less loans with 2 originations, totaling $160,000 in origination value.
Applicant Income
South Texas Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 2 originations. The second most popular income band? $100k-150k, with 1 originations.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
44% | 2 | $210,000 | $105,000 | $3,581 | 4.50% |
30-36% | 1 | $65,000 | $65,000 | $3,598 | 3.63% |
48% | 1 | $145,000 | $145,000 | $1,085 | 4.50% |
South Texas Federal Credit Union lent most frequently to those with DTI ratios of 44%, with 2 originations. The next most common DTI ratio? 30-36%, with 1 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
White | 4 | $420,000 | $105,000 | $2,961 | 4.28% |
Approval Rates
Total approvals of all applications39.29%
South Texas Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination0.00%
South Texas Federal 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 | 4 | $420,000 | $105,000 |