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
  • Complaints
  • 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, College Station, Beaumont, San Antonio, and Austin among others. We have data for 7 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% 11/17/24
    30 Year Conventional Refi 6.27% 11/17/24
    30 Year Cash-out Refi 7.12% 11/17/24
    15 Year Conventional Refi 6.22% 11/17/24
    15 Year Cash-out Refi 6.22% 11/17/24
    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

    160

    Origination Dollar Volume (All Markets)

    $18,920,000

    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) 150 $17,760,000 $118,400 $1,664 3.89%
    Outside of Metro Areas 5 $565,000 $113,000 $1,758 3.60%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $225,000 $225,000 $2,900 3.50%
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $165,000 $165,000 $2,868 3.50%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $115,000 $115,000 $2,725 3.50%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $55,000 $55,000 $202 3.50%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $35,000 $35,000 $339 3.50%
    Houston Police Federal Credit Union's top markets include Houston, College Station, Beaumont, San Antonio, and Austin among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 146 $16,730,000 $114,589 $1,672 3.84%
    HELOC 14 $2,190,000 $156,429 n/a 4.20%

    For 2020, Houston Police Federal Credit Union's most frequently originated type of loan was Conventional, with 146 originations. Their 2nd most popular type was HELOC, with 14 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 86 $6,980,000 $81,163 $1,152 3.86%
    Refi 60 $9,180,000 $153,000 $2,396 3.99%
    Home Purchase 9 $2,355,000 $261,667 $2,121 3.00%
    Other 5 $405,000 $81,000 $1,456 4.15%

    For 2020, Houston Police Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 86 originations. The 2nd most popular reason was Refi, with 60 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 119 $13,645,000 $114,664 $1,804 3.92%
    20 Year 14 $2,190,000 $156,429 $0 4.20%
    10 Year 12 $560,000 $46,667 $665 3.71%
    30 Year 9 $2,305,000 $256,111 $2,359 3.06%
    Other 4 $180,000 $45,000 $177 3.75%
    5 Year 2 $40,000 $20,000 $158 3.50%

    For 2020, Houston Police Federal Credit Union's most frequently cited loan duration was 15 Year, with 119 originations. The 2nd most popular length was 20 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 8 $1,920,000 $240,000
    $<1k 3 $645,000 $215,000

    Houston Police Federal Credit Union's average total fees were $2,359, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 8 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 131 $15,235,000 $116,298
    4-5% 12 $1,530,000 $127,500
    2.5-3% 7 $1,415,000 $202,143
    5-6% 6 $460,000 $76,667
    7-8% 2 $100,000 $50,000
    6-7% 1 $75,000 $75,000
    Over 8% 1 $105,000 $105,000

    During 2020, Houston Police Federal Credit Union's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 3-4%, with 131 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 88 $4,750,000 $53,977 $820 3.93%
    $100k-200k 48 $6,750,000 $140,625 $2,633 3.95%
    $200k-400k 20 $5,270,000 $263,500 $2,951 3.48%
    $400k-600k 3 $1,445,000 $481,667 $3,778 3.38%
    $600k-1MM 1 $705,000 $705,000 $6,181 3.50%

    2020 saw Houston Police Federal Credit Union place emphasis on $100,000 or less loans with 88 originations, totaling $4,750,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 58 $6,060,000 $104,483 $1,438 4.11%
    $150k-250k 42 $5,910,000 $140,714 $1,699 3.69%
    $50k-75k 23 $2,295,000 $99,783 $1,866 3.79%
    $75k-100k 23 $3,035,000 $131,957 $1,966 3.69%
    $50k or less 10 $690,000 $69,000 $1,346 3.95%
    $250k+ 4 $930,000 $232,500 $2,881 3.50%

    Houston Police Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 58 originations. The second most popular income band? $150k-250k, with 42 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 47 $6,375,000 $135,638 $1,845 3.84%
    <20% 32 $2,630,000 $82,188 $934 3.78%
    30-36% 22 $3,390,000 $154,091 $1,774 3.59%
    39% 9 $845,000 $93,889 $1,437 4.67%
    46% 6 $610,000 $101,667 $1,420 4.29%
    44% 6 $940,000 $156,667 $2,464 4.00%
    38% 5 $715,000 $143,000 $2,331 3.70%
    36% 5 $545,000 $109,000 $1,909 3.70%
    41% 5 $455,000 $91,000 $1,314 3.55%
    37% 4 $360,000 $90,000 $1,854 4.25%
    47% 4 $360,000 $90,000 $1,862 4.25%
    >60% 3 $395,000 $131,667 $1,879 3.67%
    42% 3 $325,000 $108,333 $1,584 3.96%
    49% 3 $255,000 $85,000 $1,754 3.50%
    40% 2 $290,000 $145,000 $2,781 5.00%
    43% 1 $155,000 $155,000 $2,554 3.50%
    48% 1 $85,000 $85,000 $2,301 3.50%
    50-60% 1 $85,000 $85,000 $2,231 3.50%
    45% 1 $105,000 $105,000 $2,238 4.00%

    Houston Police Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 47 originations. The next most common DTI ratio? <20%, with 32 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 119 $13,575,000 $114,076 $1,577 3.82%
    Black 30 $2,800,000 $93,333 $1,770 4.23%
    Asian 8 $1,740,000 $217,500 $2,701 3.61%
    Not provided 3 $805,000 $268,333 $1,376 2.88%

    Approval Rates

    Total approvals of all applications
    95.57%

    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
    79.38%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 160 $18,920,000 $118,250

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 160 $18,920,000 $118,250

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 42 $3,000,000 $71,429 $1,356 4.01%
    40-60% 31 $3,785,000 $122,097 $2,038 3.96%
    60-80% 33 $7,385,000 $223,788 $3,034 3.78%
    80-100% 16 $3,150,000 $196,875 $2,379 3.76%
    Under 20% 38 $1,600,000 $42,105 $404 3.76%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    HOUSTONIAN MORTGAGE GROUP, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%