Smart Financial Credit Union Mortgage Rates, Fees & Info

Houston, TX

LEI: 549300Z54IIB4Q3AKI90

Tax ID: 74-0695355

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
  • Complaints
  • 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

    Smart Financial Credit Union is a smaller credit union specializing in Refi loans. Smart Financial Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Austin, Victoria, Lufkin, and Corpus Christi among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Smart Financial Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Smart Financial Credit Union is typically an average 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    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
    30 Year FHA Purchase 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.

    Smart Financial Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Smart Financial 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

    320

    Origination Dollar Volume (All Markets)

    $49,550,000

    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
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 314 $47,850,000 $152,389 $1,846 3.45%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $1,245,000 $1,245,000 $10,122 3.25%
    Outside of Metro Areas 2 $200,000 $100,000 $934 3.24%
    VICTORIA, TX (FHA|USDA|VA) 1 $195,000 $195,000 $3,249 2.63%
    Lufkin, TX (FHA|USDA|VA) 1 $35,000 $35,000 $2,669 2.50%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $25,000 $25,000 $17 4.74%
    Smart Financial Credit Union's top markets include Houston, Austin, Victoria, Lufkin, and Corpus Christi among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SMART FINANCIAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    AAXY L.L.C.
    Similarity Rank: 522
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1140
    SMART CHOICE MORTGAGE, A TEXAS LIMITED LIABILITY C
    Similarity Rank: 1140
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 1265
    CADENCE LENDING GROUP, INC.
    Similarity Rank: 1480
    CAPITAL PLUS FINANCIAL, LLC
    Similarity Rank: 1508
    ADVISA MORTGAGE SERVICES, LTD.
    Similarity Rank: 1524
    MEMBERS CHOICE Credit Union
    Similarity Rank: 1824
    Shea Mortgage Inc.
    Similarity Rank: 1848
    ASSOCIATED CREDIT UNION OF TEXAS
    Similarity Rank: 1895

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 318 $49,450,000 $155,503 $1,875 3.42%
    HELOC 2 $100,000 $50,000 n/a 7.50%

    For 2020, Smart Financial Credit Union's most frequently originated type of loan was Conventional, with 318 originations. Their 2nd most popular type was HELOC, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 152 $28,380,000 $186,711 $2,041 2.94%
    Home Improvement 93 $7,225,000 $77,688 $515 3.94%
    Cash Out Refi 27 $3,375,000 $125,000 $814 4.12%
    Home Purchase 25 $9,285,000 $371,400 $4,668 3.33%
    Other 23 $1,285,000 $55,870 $150 4.10%

    For 2020, Smart Financial Credit Union's most frequently cited loan purpose was Refi, with 152 originations. The 2nd most popular reason was Home Improvement, with 93 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 184 $24,050,000 $130,707 $1,652 3.28%
    10 Year 55 $3,525,000 $64,091 $871 3.69%
    20 Year 41 $5,545,000 $135,244 $1,596 3.57%
    30 Year 24 $14,170,000 $590,417 $5,022 3.44%
    Other 10 $1,710,000 $171,000 $2,322 4.22%
    5 Year 6 $550,000 $91,667 $669 3.93%

    For 2020, Smart Financial Credit Union's most frequently cited loan duration was 15 Year, with 184 originations. The 2nd most popular length was 10 Year, with 55 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 303 $47,685,000 $157,376
    $2k-3k 1 $135,000 $135,000
    $4k-5k 1 $365,000 $365,000

    Smart Financial Credit Union's average total fees were $5,022, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 303 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 121 $18,665,000 $154,256
    3-4% 118 $21,240,000 $180,000
    4-5% 46 $3,770,000 $81,957
    <2.5% 19 $4,785,000 $251,842
    5-6% 11 $665,000 $60,455
    6-7% 3 $325,000 $108,333
    7-8% 2 $100,000 $50,000

    During 2020, Smart Financial Credit Union's average interest rate for loans was 3.44%, while their most frequently originated rate bucket for loans was 2.5-3%, with 121 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 148 $8,620,000 $58,243 $848 3.74%
    $100k-200k 120 $16,600,000 $138,333 $1,665 3.17%
    $200k-400k 29 $7,445,000 $256,724 $3,169 3.24%
    $400k-600k 10 $4,900,000 $490,000 $4,013 3.17%
    $600k-1MM 8 $6,260,000 $782,500 $5,799 3.32%
    $1MM+ 5 $5,725,000 $1,145,000 $6,975 3.15%

    2020 saw Smart Financial Credit Union place emphasis on $100,000 or less loans with 148 originations, totaling $8,620,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 86 $7,950,000 $92,442 $1,434 3.41%
    $75k-100k 69 $6,675,000 $96,739 $1,246 3.44%
    $100k-150k 63 $9,455,000 $150,079 $2,118 3.37%
    $50k or less 39 $3,035,000 $77,821 $1,069 3.42%
    $150k-250k 36 $8,280,000 $230,000 $2,258 3.49%
    $250k+ 18 $12,800,000 $711,111 $4,945 3.32%

    Smart Financial Credit Union lent most frequently to those with incomes in the $50k-75k range, with 86 originations. The second most popular income band? $75k-100k, with 69 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 68 $10,520,000 $154,706 $1,758 3.31%
    30-36% 63 $8,625,000 $136,905 $1,542 3.26%
    <20% 28 $2,720,000 $97,143 $1,477 3.15%
    41% 21 $3,585,000 $170,714 $1,667 3.38%
    38% 18 $2,910,000 $161,667 $1,694 3.66%
    37% 16 $1,780,000 $111,250 $1,406 3.78%
    40% 15 $3,595,000 $239,667 $2,257 3.37%
    42% 13 $2,395,000 $184,231 $2,336 3.38%
    36% 13 $2,035,000 $156,538 $2,410 3.38%
    43% 13 $2,355,000 $181,154 $1,835 3.80%
    39% 11 $1,175,000 $106,818 $2,245 3.97%
    44% 10 $1,980,000 $198,000 $2,372 3.45%
    47% 6 $2,570,000 $428,333 $4,349 2.85%
    48% 5 $735,000 $147,000 $2,024 3.99%
    45% 5 $695,000 $139,000 $3,073 3.54%
    49% 4 $710,000 $177,500 $3,118 3.37%
    46% 3 $305,000 $101,667 $2,366 3.54%
    50-60% 2 $110,000 $55,000 $17 4.62%
    >60% 1 $225,000 $225,000 $2,821 3.24%

    Smart Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 68 originations. The next most common DTI ratio? 30-36%, with 63 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 194 $31,670,000 $163,247 $2,002 3.34%
    Not provided 56 $7,450,000 $133,036 $1,395 3.58%
    Asian 18 $5,660,000 $314,444 $2,831 3.29%
    Black 45 $4,115,000 $91,444 $1,450 3.49%
    Not applicable 5 $525,000 $105,000 $0 5.60%
    American Indian 2 $130,000 $65,000 $410 4.49%

    Approval Rates

    Total approvals of all applications
    80.35%

    Smart Financial Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    57.19%

    Smart Financial Credit Union 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 320 $49,550,000 $154,844

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 320 $49,550,000 $154,844

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 64 $4,630,000 $72,344 $948 3.60%
    40-60% 84 $12,230,000 $145,595 $1,674 3.22%
    60-80% 90 $17,760,000 $197,333 $2,162 3.17%
    80-100% 41 $13,135,000 $320,366 $3,566 3.33%
    Under 20% 41 $1,795,000 $43,780 $449 4.36%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Shea Mortgage Inc. Conventional home mortgage Unable to get your credit report or credit score 1 100.0%