Missouri Electric Cooperatives Empl Mortgage Rates, Fees & Info

Jefferson City, MO

LEI: 549300Y4GAAGXS20SL80

Tax ID: 43-1044975

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • 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

    Missouri Electric Cooperatives Empl is a smaller mortgage company specializing in Home Purchase loans. Missouri Electric Cooperatives Empl has a high proportion of conventional loans. Their top markets by origination volume include: Kansas City, Springfield, Branson, Columbia, and Hannibal among others. We have data for 20 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 an above 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.

    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 6.64% 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






    Your Estimates

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

    This is not an official calculator from Missouri Electric Cooperatives Empl. 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

    105

    Origination Dollar Volume (All Markets)

    $20,325,000

    Awards

    MISSOURI ELECTRIC COOPERATIVES EMPL 30 Year Conventional Loans gold MISSOURI ELECTRIC COOPERATIVES EMPL 30 Year Conventional Loans gold MISSOURI ELECTRIC COOPERATIVES EMPL 30 Year Conventional Loans silver MISSOURI ELECTRIC COOPERATIVES EMPL 30 Year Conventional Loans bronze
    Show all (4) 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
    Outside of Metro Areas 44 $7,480,000 $170,000 $1,698 4.07%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 10 $3,210,000 $321,000 $1,901 4.30%
    SPRINGFIELD, MO (FHA|USDA|VA) 12 $2,150,000 $179,167 $2,034 4.45%
    Branson, MO (FHA|USDA|VA) 4 $780,000 $195,000 $1,892 3.94%
    COLUMBIA, MO (FHA|USDA|VA) 2 $680,000 $340,000 $1,642 4.06%
    Hannibal, MO (FHA|USDA|VA) 4 $590,000 $147,500 $1,553 3.50%
    West Plains, MO (FHA|USDA|VA) 3 $575,000 $191,667 $1,711 3.42%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 4 $560,000 $140,000 $1,452 3.69%
    JOPLIN, MO (FHA|USDA|VA) 3 $555,000 $185,000 $2,168 3.83%
    Lebanon, MO (FHA|USDA|VA) 3 $555,000 $185,000 $1,943 4.92%
    Maryville, MO (FHA|USDA|VA) 1 $515,000 $515,000 $1,622 4.75%
    JEFFERSON CITY, MO (FHA|USDA|VA) 2 $450,000 $225,000 $1,476 4.94%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $400,000 $200,000 $1,234 3.44%
    Kirksville, MO (FHA|USDA|VA) 2 $380,000 $190,000 $1,587 4.13%
    Mexico, MO (FHA|USDA|VA) 3 $365,000 $121,667 $1,402 3.25%
    Marshall, MO (FHA|USDA|VA) 1 $355,000 $355,000 $1,724 5.50%
    Mountain Home, AR (FHA|USDA|VA) 2 $260,000 $130,000 $1,570 3.75%
    WICHITA, KS (FHA|USDA|VA) 1 $245,000 $245,000 $1,585 5.50%
    MANHATTAN, KS (FHA|USDA|VA) 1 $115,000 $115,000 $2,177 4.25%
    ST. JOSEPH, MO-KS (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.25%
    Missouri Electric Cooperatives Empl's top markets include Kansas City, Springfield, Branson, Columbia, and Hannibal among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)

    • 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.

    The Bank of Missouri
    Similarity Rank: 329
    Sullivan Bank
    Similarity Rank: 550
    Springfield First Community Bank
    Similarity Rank: 816
    ASSEMBLIES OF GOD Credit Union
    Similarity Rank: 1296
    Hawthorn Bank
    Similarity Rank: 1672
    Associated Bank
    Similarity Rank: 2100
    Southern Bank
    Similarity Rank: 3149
    Capitol Federal Savings Bank
    Similarity Rank: 3201
    BANK OF LITTLE ROCK MORTGAGE CORPORATION
    Similarity Rank: 3901
    UMB Bank
    Similarity Rank: 4340

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 105 $20,325,000 $193,571 $1,729 4.10%

    For 2022, Missouri Electric Cooperatives Empl's most frequently originated type of loan was Conventional, with 105 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 60 $12,780,000 $213,000 $1,850 4.34%
    Cash Out Refi 19 $3,485,000 $183,421 $1,625 3.98%
    Other 15 $2,425,000 $161,667 $1,470 3.48%
    Refi 9 $1,275,000 $141,667 $1,615 3.68%
    Home Improvement 2 $360,000 $180,000 $1,523 4.25%

    For 2022, Missouri Electric Cooperatives Empl's most frequently cited loan purpose was Home Purchase, with 60 originations. The 2nd most popular reason was Cash Out Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 71 $15,285,000 $215,282 $1,817 4.33%
    15 Year 21 $3,095,000 $147,381 $1,611 3.57%
    20 Year 10 $1,610,000 $161,000 $1,447 3.88%
    10 Year 3 $335,000 $111,667 $1,404 2.96%

    For 2022, Missouri Electric Cooperatives Empl's most frequently cited loan duration was 30 Year, with 71 originations. The 2nd most popular length was 15 Year, with 21 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 104 $20,170,000 $193,942
    $2k-3k 1 $155,000 $155,000

    Missouri Electric Cooperatives Empl's average total fees were $1,817, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 104 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 46 $9,070,000 $197,174
    4-5% 31 $5,475,000 $176,613
    5-6% 13 $2,945,000 $226,538
    2.5-3% 12 $2,410,000 $200,833
    6-7% 2 $290,000 $145,000
    <2.5% 1 $135,000 $135,000

    During 2022, Missouri Electric Cooperatives Empl's average interest rate for loans was 4.33%, while their most frequently originated rate bucket for loans was 3-4%, with 46 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 57 $8,455,000 $148,333 $1,662 4.09%
    $200k-400k 33 $8,715,000 $264,091 $1,860 4.05%
    $100,000 or less 10 $720,000 $72,000 $1,433 4.23%
    $400k-600k 5 $2,435,000 $487,000 $2,218 4.23%

    2022 saw Missouri Electric Cooperatives Empl place emphasis on $100k-200k loans with 57 originations, totaling $8,455,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 33 $7,245,000 $219,545 $1,895 4.00%
    $75k-100k 31 $5,015,000 $161,774 $1,592 3.88%
    $50k-75k 23 $3,265,000 $141,957 $1,644 4.23%
    $150k-250k 12 $3,890,000 $324,167 $1,747 4.60%
    $50k or less 5 $625,000 $125,000 $1,860 4.10%
    $250k+ 1 $285,000 $285,000 $1,566 4.75%

    Missouri Electric Cooperatives Empl lent most frequently to those with incomes in the $100k-150k range, with 33 originations. The second most popular income band? $75k-100k, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 46 $9,270,000 $201,522 $1,714 4.00%
    30-36% 21 $3,855,000 $183,571 $1,698 4.35%
    <20% 10 $1,680,000 $168,000 $1,630 3.60%
    39% 7 $1,455,000 $207,857 $1,961 4.21%
    40% 5 $1,095,000 $219,000 $1,163 4.05%
    38% 4 $870,000 $217,500 $2,578 4.25%
    42% 3 $475,000 $158,333 $1,800 4.83%
    43% 2 $290,000 $145,000 $1,730 4.06%
    44% 2 $380,000 $190,000 $1,669 4.31%
    36% 2 $310,000 $155,000 $1,531 4.13%
    46% 1 $225,000 $225,000 $2,084 3.75%
    50-60% 1 $355,000 $355,000 $1,724 5.50%
    >60% 1 $65,000 $65,000 $1,769 3.38%

    Missouri Electric Cooperatives Empl lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 97 $18,765,000 $193,454 $1,689 4.05%
    Not provided 6 $1,400,000 $233,333 $2,506 4.90%
    Black 1 $85,000 $85,000 $1,435 4.25%
    Asian 1 $75,000 $75,000 $1,263 4.00%

    Approval Rates

    Total approvals of all applications
    95.35%

    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
    95.24%

    Missouri Electric Cooperatives Empl has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 105 $20,325,000 $193,571

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    105 $20,325,000 $193,571

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $645,000 $129,000 $1,282 3.73%
    40-60% 19 $2,875,000 $151,316 $1,614 4.03%
    60-80% 44 $9,180,000 $208,636 $1,734 3.95%
    80-100% 37 $7,625,000 $206,081 $1,841 4.36%