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 and Cash Out Refi loans. Missouri Electric Cooperatives Empl has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Jefferson City, Columbia, Kansas City, and Branson among others. We have data for 26 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 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 | 6.64% | 4/21/24 |
| 30 Year Conventional Refi | 6.47% | 4/21/24 |
| 30 Year Cash-out Refi | 6.53% | 4/21/24 |
| 15 Year Conventional Purchase | 6.08% | 4/21/24 |
| 15 Year Conventional Refi | 5.99% | 4/21/24 |
| 15 Year Cash-out Refi | 5.99% | 4/21/24 |
| 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
169Origination Dollar Volume (All Markets)
$30,215,000Awards
MISSOURI ELECTRIC COOPERATIVES EMPL - 2021
MISSOURI ELECTRIC COOPERATIVES EMPL is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 | 67 | $11,235,000 | $167,687 | $1,920 | 3.12% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 24 | $5,270,000 | $219,583 | $1,801 | 2.99% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 17 | $2,755,000 | $162,059 | $1,673 | 2.73% |
| COLUMBIA, MO (FHA|USDA|VA) | 10 | $2,230,000 | $223,000 | $1,664 | 2.98% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 11 | $1,995,000 | $181,364 | $1,796 | 3.26% |
| Branson, MO (FHA|USDA|VA) | 5 | $785,000 | $157,000 | $940 | 3.50% |
| West Plains, MO (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $1,282 | 3.21% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $1,879 | 3.00% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $1,112 | 2.75% |
| Kirksville, MO (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $1,340 | 2.96% |
| JOPLIN, MO (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $2,151 | 2.44% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $1,786 | 3.58% |
| Maryville, MO (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $1,752 | 3.00% |
| Sedalia, MO (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $1,799 | 3.00% |
| Hannibal, MO (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $1,552 | 3.38% |
| Moberly, MO (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $1,564 | 2.63% |
| Kennett, MO (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $1,800 | 3.63% |
| Rolla, MO (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,852 | 3.00% |
| Lebanon, MO (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,630 | 3.38% |
| Quincy, IL-MO (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $1,753 | 2.88% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,912 | 3.00% |
| Warrensburg, MO (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,907 | 2.38% |
| Poplar Bluff, MO (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,849 | 3.00% |
| TULSA, OK (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,606 | 2.88% |
| Muskogee, OK (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 3.50% |
| Miami, OK (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 3.50% |
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 | 160 | $29,410,000 | $183,813 | $1,801 | 3.03% |
| HELOC | 9 | $805,000 | $89,444 | n/a | 3.61% |
For 2021, Missouri Electric Cooperatives Empl's most frequently originated type of loan was Conventional, with 160 originations. Their 2nd most popular type was HELOC, with 9 originations.
Loan Reason
For 2021, Missouri Electric Cooperatives Empl's most frequently cited loan purpose was Home Purchase, with 65 originations. The 2nd most popular reason was Cash Out Refi, with 39 originations.
Loan Duration/Length
For 2021, Missouri Electric Cooperatives Empl's most frequently cited loan duration was 30 Year, with 93 originations. The 2nd most popular length was 15 Year, with 41 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 152 | $27,900,000 | $183,553 |
| $1k-2k | 3 | $525,000 | $175,000 |
| $2k-3k | 3 | $425,000 | $141,667 |
| $3k-4k | 1 | $265,000 | $265,000 |
Missouri Electric Cooperatives Empl's average total fees were $1,848, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 152 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 75 | $12,965,000 | $172,867 |
| 2.5-3% | 64 | $12,870,000 | $201,094 |
| <2.5% | 28 | $4,100,000 | $146,429 |
| 4-5% | 2 | $280,000 | $140,000 |
During 2021, Missouri Electric Cooperatives Empl's average interest rate for loans was 3.36%, while their most frequently originated rate bucket for loans was 3-4%, with 75 originations.
Loan Sizing
2021 saw Missouri Electric Cooperatives Empl place emphasis on $100k-200k loans with 90 originations, totaling $13,040,000 in origination value.
Applicant Income
Missouri Electric Cooperatives Empl lent most frequently to those with incomes in the $100k-150k range, with 57 originations. The second most popular income band? $75k-100k, with 43 originations.
Applicant Debt to Income Ratio
Missouri Electric Cooperatives Empl lent most frequently to those with DTI ratios of 20-30%, with 49 originations. The next most common DTI ratio? <20%, with 43 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.06%
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 origination84.62%
Missouri Electric Cooperatives Empl has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 169 | $30,215,000 | $178,787 |