Missouri Electric Cooperatives Empl Mortgage Rates, Fees & Info
Jefferson City, MOLEI: 549300Y4GAAGXS20SL80
Tax ID: 43-1044975
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Mortgage Data
Review & Overview
Missouri Electric Cooperatives Empl is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Missouri Electric Cooperatives Empl has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Kansas City, Jefferson City, Joplin, and Lebanon among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)Missouri Electric Cooperatives Empl 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. Missouri Electric Cooperatives Empl 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.64% | 11/17/24 |
| 30 Year Conventional Refi | 6.47% | 11/17/24 |
| 30 Year Cash-out Refi | 6.53% | 11/17/24 |
| 15 Year Conventional Purchase | 6.08% | 11/17/24 |
| 15 Year Conventional Refi | 5.99% | 11/17/24 |
| 15 Year Cash-out Refi | 5.99% | 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. | ||
Missouri Electric Cooperatives Empl Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
43Origination Dollar Volume (All Markets)
$11,335,000Awards
MISSOURI ELECTRIC COOPERATIVES EMPL - 2023
MISSOURI ELECTRIC COOPERATIVES EMPL is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Missouri Electric Cooperatives Empl's average 30 year fixed mortgage rate was
6.16%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.32%.
Relative Fees (Closing Costs)
Missouri Electric Cooperatives Empl's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,139.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 14 | $3,480,000 | $248,571 | $1,846 | 6.12% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 5 | $1,175,000 | $235,000 | $3,003 | 6.03% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 4 | $1,110,000 | $277,500 | $2,207 | 6.00% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 3 | $1,095,000 | $365,000 | $2,002 | 6.00% |
| JOPLIN, MO (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $2,452 | 6.33% |
| Lebanon, MO (FHA|USDA|VA) | 4 | $800,000 | $200,000 | $2,071 | 6.25% |
| Branson, MO (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $2,757 | 6.00% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $2,407 | 6.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,215 | 6.50% |
| Kirksville, MO (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $1,669 | 6.50% |
| Maryville, MO (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,543 | 6.00% |
| Mountain Home, AR (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,629 | 7.00% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,714 | 6.50% |
| Hannibal, MO (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,750 | 6.00% |
| Moberly, MO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,535 | 6.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against MISSOURI ELECTRIC COOPERATIVES EMPL 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 | 43 | $11,335,000 | $263,605 | $2,238 | 6.16% |
For 2023, Missouri Electric Cooperatives Empl's most frequently originated type of loan was Conventional, with 43 originations.
Loan Reason
For 2023, Missouri Electric Cooperatives Empl's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Refi, with 10 originations.
Loan Duration/Length
For 2023, Missouri Electric Cooperatives Empl's most frequently cited loan duration was 30 Year, with 40 originations. The 2nd most popular length was 15 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 43 | $11,335,000 | $263,605 |
Missouri Electric Cooperatives Empl's average total fees were $2,139, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 43 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 27 | $7,315,000 | $270,926 |
| 6-7% | 16 | $4,020,000 | $251,250 |
During 2023, Missouri Electric Cooperatives Empl's average interest rate for loans was 6.16%, while their most frequently originated rate bucket for loans was 5-6%, with 27 originations.
Loan Sizing
2023 saw Missouri Electric Cooperatives Empl place emphasis on $200k-400k loans with 23 originations, totaling $6,755,000 in origination value.
Applicant Income
Missouri Electric Cooperatives Empl lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $75k-100k, with 11 originations.
Applicant Debt to Income Ratio
Missouri Electric Cooperatives Empl lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? 30-36%, with 9 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.24%
Missouri Electric Cooperatives Empl 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-32.56%
Missouri Electric Cooperatives Empl 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 | 43 | $11,335,000 | $263,605 |