Houston Police Federal Credit Union Mortgage Rates, Fees & Info

Houston, TX

LEI: 549300WX4YO71NFO5362

Tax ID: 74-1139126

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Houston Police Federal Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. Houston Police Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Austin, San Antonio, and Longview among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Houston Police Federal 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. Houston Police 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.

    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 6.73% 11/23/24
    30 Year Conventional Refi 6.27% 11/23/24
    30 Year Cash-out Refi 7.12% 11/23/24
    15 Year Conventional Refi 6.22% 11/23/24
    15 Year Cash-out Refi 6.22% 11/23/24
    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.

    Houston Police Federal Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Houston Police Federal 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

    124

    Origination Dollar Volume (All Markets)

    $14,220,000

    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 $12,560,000 $110,175 $1,970 4.15%
    Outside of Metro Areas 4 $770,000 $192,500 $2,805 3.69%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $585,000 $195,000 $3,519 4.00%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $270,000 $135,000 $2,763 3.50%
    LONGVIEW, TX (FHA|USDA|VA) 1 $35,000 $35,000 $288 5.00%
    Houston Police Federal Credit Union's top markets include Houston, Austin, San Antonio, and Longview among others.

    Their top states include:
  • Texas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 115 $12,845,000 $111,696 $2,032 4.06%
    HELOC 9 $1,375,000 $152,778 n/a 4.97%

    For 2018, Houston Police Federal Credit Union's most frequently originated type of loan was Conventional, with 115 originations. Their 2nd most popular type was HELOC, with 9 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 58 $5,270,000 $90,862 $1,255 3.97%
    Refi 51 $5,705,000 $111,863 $2,131 4.26%
    Home Purchase 11 $2,245,000 $204,091 $3,587 4.20%
    Cash Out Refi 4 $1,000,000 $250,000 $6,223 4.47%

    For 2018, Houston Police Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 58 originations. The 2nd most popular reason was Refi, with 51 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 90 $9,750,000 $108,333 $1,995 4.05%
    10 Year 12 $710,000 $59,167 $1,053 3.92%
    20 Year 11 $2,385,000 $216,818 $5,413 4.86%
    30 Year 5 $1,145,000 $229,000 $4,208 4.83%
    Other 4 $170,000 $42,500 $141 4.00%
    5 Year 2 $60,000 $30,000 $153 3.50%

    For 2018, Houston Police Federal Credit Union's most frequently cited loan duration was 15 Year, with 90 originations. The 2nd most popular length was 10 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 6 $960,000 $160,000
    $<1k 3 $675,000 $225,000
    $1k-2k 3 $485,000 $161,667
    $3k-4k 2 $420,000 $210,000
    $5k+ 2 $770,000 $385,000
    $4k-5k 1 $165,000 $165,000

    Houston Police Federal Credit Union's average total fees were $4,208, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 6 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 88 $9,180,000 $104,318
    4-5% 25 $4,025,000 $161,000
    5-6% 7 $535,000 $76,429
    7-8% 3 $265,000 $88,333
    Over 8% 1 $215,000 $215,000

    During 2018, Houston Police Federal Credit Union's average interest rate for loans was 4.83%, while their most frequently originated rate bucket for loans was 3-4%, with 88 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 68 $3,740,000 $55,000 $857 4.14%
    $100k-200k 40 $6,170,000 $154,250 $3,288 3.97%
    $200k-400k 14 $3,350,000 $239,286 $3,376 4.55%
    $400k-600k 2 $960,000 $480,000 $8,337 4.00%

    2018 saw Houston Police Federal Credit Union place emphasis on $100,000 or less loans with 68 originations, totaling $3,740,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 33 $3,875,000 $117,424 $1,952 4.14%
    $100k-150k 31 $3,355,000 $108,226 $1,752 4.27%
    $75k-100k 28 $3,660,000 $130,714 $2,454 4.01%
    $50k-75k 23 $2,585,000 $112,391 $2,135 4.11%
    $50k or less 7 $555,000 $79,286 $1,320 3.82%
    $250k+ 2 $190,000 $95,000 $2,407 4.63%

    Houston Police Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 33 originations. The second most popular income band? $100k-150k, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 30 $3,080,000 $102,667 $1,803 4.16%
    30-36% 24 $2,980,000 $124,167 $2,476 4.07%
    <20% 19 $1,485,000 $78,158 $1,185 3.79%
    39% 9 $955,000 $106,111 $2,776 4.29%
    50-60% 6 $730,000 $121,667 $2,091 4.00%
    >60% 5 $725,000 $145,000 $1,133 4.95%
    41% 5 $785,000 $157,000 $2,616 4.50%
    43% 5 $395,000 $79,000 $2,082 4.10%
    48% 4 $480,000 $120,000 $2,261 4.50%
    44% 3 $225,000 $75,000 $1,313 3.75%
    45% 3 $725,000 $241,667 $3,346 4.08%
    36% 3 $435,000 $145,000 $1,290 3.92%
    38% 3 $195,000 $65,000 $1,362 4.67%
    49% 2 $190,000 $95,000 $2,520 4.44%
    46% 2 $330,000 $165,000 $4,074 3.75%
    37% 1 $505,000 $505,000 $4,812 3.50%

    Houston Police Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 30 originations. The next most common DTI ratio? 30-36%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 100 $11,510,000 $115,100 $2,068 4.00%
    Black 18 $1,620,000 $90,000 $1,226 4.93%
    Not provided 4 $750,000 $187,500 $3,481 4.06%
    Asian 2 $340,000 $170,000 $3,902 3.75%

    Approval Rates

    Total approvals of all applications
    97.44%

    Houston Police Federal 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
    79.03%

    Houston Police Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 124 $14,220,000 $114,677

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 124 $14,220,000 $114,677

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 29 $2,105,000 $72,586 $1,143 3.89%
    40-60% 22 $3,190,000 $145,000 $2,257 4.11%
    60-80% 35 $5,815,000 $166,143 $3,479 4.39%
    80-100% 14 $2,100,000 $150,000 $2,780 4.45%
    Under 20% 24 $1,010,000 $42,083 $460 3.88%