Texoma Community Credit Union Mortgage Rates, Fees & Info

Wichita Falls, TX

LEI: 549300XTGDMRB8FMR522

Tax ID: 75-0896179

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
  • Similar Lenders
  • 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

    Texoma Community Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Texoma Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Wichita Falls, Vernon, and Amarillo among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Texoma Community Credit Union has an above average approval rate when compared to the average across all lenders. Texoma Community 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 relatively high 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.27% 12/16/24
    30 Year Conventional Refi 6.27% 12/16/24
    30 Year Cash-out Refi 6.27% 12/16/24
    15 Year Conventional Purchase 5.68% 12/16/24
    15 Year Conventional Refi 5.68% 12/16/24
    15 Year Cash-out Refi 5.68% 12/16/24
    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






    Your Estimates

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

    This is not an official calculator from Texoma Community 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

    191

    Origination Dollar Volume (All Markets)

    $18,085,000

    Awards

    TEXOMA COMMUNITY CREDIT UNION 30 Year Conventional Loans gold
    Show all (1) awards

    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
    WICHITA FALLS, TX (FHA|USDA|VA) 176 $16,270,000 $92,443 $2,216 5.14%
    Outside of Metro Areas 8 $1,140,000 $142,500 $3,193 5.38%
    Vernon, TX (FHA|USDA|VA) 6 $600,000 $100,000 $2,859 5.26%
    AMARILLO, TX (FHA|USDA|VA) 1 $75,000 $75,000 $1,545 5.00%
    Texoma Community Credit Union's top markets include Wichita Falls, Vernon, and Amarillo among others.

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

    • 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.

    TEXOMA COMMUNITY CREDIT UNION
    Similarity Rank: 76
    First United Bank
    Similarity Rank: 735
    UNION SQUARE
    Similarity Rank: 760
    American National Bank & Trust
    Similarity Rank: 864
    First National Bank
    Similarity Rank: 1092
    First Bank
    Similarity Rank: 1760
    First Bank & Trust
    Similarity Rank: 3640
    NEW DAY FINANCIAL, LLC
    Similarity Rank: 4035
    FREEDOM MORTGAGE CORPORATION
    Similarity Rank: 5562
    PENNYMAC LOAN SERVICES, LLC
    Similarity Rank: 8046

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 190 $17,990,000 $94,684 $2,268 5.14%
    VA 1 $95,000 $95,000 $3,357 7.75%

    For 2021, Texoma Community Credit Union's most frequently originated type of loan was Conventional, with 190 originations. Their 2nd most popular type was VA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 84 $6,860,000 $81,667 $1,706 5.16%
    Home Purchase 79 $8,545,000 $108,165 $2,882 5.25%
    Refi 26 $2,620,000 $100,769 $2,259 4.79%
    Other 2 $60,000 $30,000 $2,280 6.32%

    For 2021, Texoma Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 84 originations. The 2nd most popular reason was Home Purchase, with 79 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 90 $11,490,000 $127,667 $2,960 5.34%
    15 Year 45 $3,505,000 $77,889 $1,915 4.83%
    20 Year 24 $1,980,000 $82,500 $2,006 4.99%
    10 Year 18 $750,000 $41,667 $1,179 5.15%
    5 Year 14 $360,000 $25,714 $886 5.30%

    For 2021, Texoma Community Credit Union's most frequently cited loan duration was 30 Year, with 90 originations. The 2nd most popular length was 15 Year, with 45 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 98 $11,510,000 $117,449
    $<1k 69 $4,945,000 $71,667
    $2k-3k 1 $295,000 $295,000

    Texoma Community Credit Union's average total fees were $2,960, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 98 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 81 $7,115,000 $87,840
    5-6% 47 $3,145,000 $66,915
    6-7% 42 $4,110,000 $97,857
    3-4% 17 $2,845,000 $167,353
    2.5-3% 2 $260,000 $130,000
    <2.5% 1 $515,000 $515,000
    7-8% 1 $95,000 $95,000

    During 2021, Texoma Community Credit Union's average interest rate for loans was 5.34%, while their most frequently originated rate bucket for loans was 4-5%, with 81 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 129 $7,155,000 $55,465 $1,847 5.25%
    $100k-200k 49 $6,785,000 $138,469 $2,924 5.13%
    $200k-400k 11 $3,175,000 $288,636 $3,985 4.26%
    $400k-600k 2 $970,000 $485,000 $4,463 4.42%

    2021 saw Texoma Community Credit Union place emphasis on $100,000 or less loans with 129 originations, totaling $7,155,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 49 $2,945,000 $60,102 $1,948 5.18%
    $75k-100k 47 $4,095,000 $87,128 $2,260 5.22%
    $50k-75k 43 $3,705,000 $86,163 $2,126 5.19%
    $100k-150k 35 $5,035,000 $143,857 $2,752 5.09%
    $150k-250k 11 $1,085,000 $98,636 $2,508 5.11%
    $250k+ 5 $1,185,000 $237,000 $3,314 4.43%

    Texoma Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 49 originations. The second most popular income band? $75k-100k, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 53 $5,475,000 $103,302 $2,431 5.19%
    <20% 37 $2,205,000 $59,595 $2,021 5.08%
    30-36% 33 $3,155,000 $95,606 $2,239 4.96%
    36% 10 $880,000 $88,000 $1,967 5.18%
    42% 7 $465,000 $66,429 $1,485 5.11%
    37% 7 $865,000 $123,571 $2,605 5.48%
    50-60% 7 $1,325,000 $189,286 $2,802 5.59%
    45% 6 $700,000 $116,667 $2,650 5.36%
    44% 5 $395,000 $79,000 $1,774 5.56%
    43% 5 $595,000 $119,000 $3,047 4.18%
    >60% 4 $400,000 $100,000 $1,484 4.79%
    46% 4 $390,000 $97,500 $2,585 6.11%
    48% 3 $315,000 $105,000 $2,917 5.40%
    47% 3 $525,000 $175,000 $2,843 4.58%
    38% 3 $125,000 $41,667 $1,722 4.93%
    40% 2 $90,000 $45,000 $2,908 6.23%
    39% 1 $75,000 $75,000 $1,323 4.90%

    Texoma Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 53 originations. The next most common DTI ratio? <20%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 177 $16,655,000 $94,096 $2,284 5.15%
    Asian 5 $645,000 $129,000 $2,691 4.78%
    American Indian 3 $425,000 $141,667 $2,121 4.42%
    Black 6 $360,000 $60,000 $1,706 5.88%

    Approval Rates

    Total approvals of all applications
    99.48%

    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 origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 191 $18,085,000 $94,686

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    191 $18,085,000 $94,686

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 20 $940,000 $47,000 $1,373 5.13%
    40-60% 27 $1,915,000 $70,926 $1,913 4.86%
    60-80% 69 $6,565,000 $95,145 $2,197 5.32%
    80-100% 66 $8,190,000 $124,091 $2,915 5.09%
    Over 100% 1 $175,000 $175,000 $3,595 6.36%
    Under 20% 8 $300,000 $37,500 $949 5.13%