Texoma Community Credit Union Mortgage Rates, Fees & Info
Wichita Falls, TXLEI: 549300XTGDMRB8FMR522
Tax ID: 75-0896179
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Mortgage Data
Review & Overview
Texoma Community Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Texoma Community Credit Union has a high proportion of conventional loans. Their top two markets are Wichita Falls and Vernon .Texoma Community Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 5/4/24 |
| 30 Year Conventional Refi | 6.27% | 5/4/24 |
| 30 Year Cash-out Refi | 6.27% | 5/4/24 |
| 15 Year Conventional Purchase | 5.68% | 5/4/24 |
| 15 Year Conventional Refi | 5.68% | 5/4/24 |
| 15 Year Cash-out Refi | 5.68% | 5/4/24 |
| 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. | ||
Texoma Community 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
110Origination Dollar Volume (All Markets)
$6,880,000Top 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 |
|---|---|---|---|---|---|
| WICHITA FALLS, TX (FHA|USDA|VA) | 96 | $6,080,000 | $63,333 | $0 | 0.00% |
| Outside of Metro Areas | 11 | $645,000 | $58,636 | $0 | 0.00% |
| Vernon, TX (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against TEXOMA COMMUNITY 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 | 110 | $6,880,000 | $62,545 | $0 | 0.00% |
For 2018, Texoma Community Credit Union's most frequently originated type of loan was Conventional, with 110 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 51 | $3,035,000 | $59,510 | $0 | 0.00% |
| Home Purchase | 37 | $2,235,000 | $60,405 | $0 | 0.00% |
| Refi | 22 | $1,610,000 | $73,182 | $0 | 0.00% |
For 2018, Texoma Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 51 originations. The 2nd most popular reason was Home Purchase, with 37 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 110 | $6,880,000 | $62,545 | $0 | 0.00% |
For 2018, Texoma Community Credit Union's most frequently cited loan duration was Other, with 110 originations.
Loan Sizing
2018 saw Texoma Community Credit Union place emphasis on $100,000 or less loans with 94 originations, totaling $4,550,000 in origination value.
Applicant Income
Texoma Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 43 originations. The second most popular income band? $50k-75k, with 31 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 110 | $6,880,000 | $62,545 | $0 | 0.00% |
Texoma Community Credit Union lent most frequently to those with DTI ratios of Exempt%, with 110 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 103 | $6,625,000 | $64,320 | $0 | 0.00% |
| Black | 6 | $210,000 | $35,000 | $0 | 0.00% |
| American Indian | 1 | $45,000 | $45,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications95.20%
Texoma Community 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 origination91.82%
Texoma Community Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 110 | $6,880,000 | $62,545 |