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 Refi and Home Purchase 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 an average 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
14Origination Dollar Volume (All Markets)
$1,800,000Top 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) | 14 | $1,800,000 | $128,571 | $4,701 | 3.20% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 14 | $1,800,000 | $128,571 | $4,701 | 3.20% |
For 2020, South Texas Federal Credit Union's most frequently originated type of loan was Conventional, with 14 originations.
Loan Reason
For 2020, South Texas Federal Credit Union's most frequently cited loan purpose was Refi, with 8 originations. The 2nd most popular reason was Home Purchase, with 4 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
15 Year | 6 | $680,000 | $113,333 | $4,415 | 3.02% |
30 Year | 6 | $940,000 | $156,667 | $4,900 | 3.44% |
10 Year | 2 | $180,000 | $90,000 | $4,916 | 3.00% |
For 2020, South Texas Federal Credit Union's most frequently cited loan duration was 15 Year, with 6 originations. The 2nd most popular length was 30 Year, with 6 originations.
Origination Fees/Closing Costs
Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
---|---|---|---|
$2k-3k | 8 | $1,120,000 | $140,000 |
$1k-2k | 3 | $245,000 | $81,667 |
$3k-4k | 1 | $275,000 | $275,000 |
South Texas Federal Credit Union's average total fees were $4,900, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 8 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 5 | $835,000 | $167,000 |
3-4% | 5 | $605,000 | $121,000 |
<2.5% | 2 | $150,000 | $75,000 |
4-5% | 2 | $210,000 | $105,000 |
During 2020, South Texas Federal Credit Union's average interest rate for loans was 3.44%, while their most frequently originated rate bucket for loans was 2.5-3%, with 5 originations.
Loan Sizing
2020 saw South Texas Federal Credit Union place emphasis on $100,000 or less loans with 7 originations, totaling $545,000 in origination value.
Applicant Income
South Texas Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 5 originations. The second most popular income band? $50k-75k, with 4 originations.
Applicant Debt to Income Ratio
South Texas Federal Credit Union lent most frequently to those with DTI ratios of 49%, with 2 originations. The next most common DTI ratio? 41%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications43.24%
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 origination57.14%
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 | 14 | $1,800,000 | $128,571 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Single Family (1-4 Units):Site-Built | 14 | $1,800,000 | $128,571 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
States Title Holding, Inc. | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |