Eecu Mortgage Rates, Fees & Info

Fort Worth, TX

LEI: 549300Z7KF7I03AULW22

Tax ID: 75-0275915

5 stars - out of 5 stars, based on 40 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Eecu is a smaller mortgage company specializing in Home Improvement, Refi, and Cash Out Refi loans. Eecu has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Dallas, Granbury, Houston, Mineral Wells, and Austin among others. Eecu has a below average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Eecu is typically a low fee lendor.


Originations

1,594

Origination Dollar Volume (All Markets)

$242,880,000

Awards

EECU 30 Year Conventional Loans gold EECU 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Eecu's average 30 year fixed rate mortgage of loans were 3.55%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.4%.

Relative Fees

Eecu's average total fees for a 30 year fixed rate mortgage are $2,991.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1,494 $225,990,000 $151,265 $1,919 3.61%
Granbury, TX (FHA|USDA|VA) 26 $3,860,000 $148,462 $2,075 3.72%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 12 $2,650,000 $220,833 $3,135 3.36%
Mineral Wells, TX (FHA|USDA|VA) 16 $2,330,000 $145,625 $1,864 3.38%
Outside of Metro Areas 11 $1,655,000 $150,455 $2,705 3.58%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 7 $1,505,000 $215,000 $3,074 3.50%
SHERMAN-DENISON, TX (FHA|USDA|VA) 4 $1,020,000 $255,000 $4,079 3.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $1,010,000 $252,500 $4,077 3.34%
Stephenville, TX (FHA|USDA|VA) 5 $705,000 $141,000 $4,130 4.40%
TEXARKANA, TX-AR (FHA|USDA|VA) 2 $350,000 $175,000 $3,501 3.25%
MIDLAND, TX (FHA|USDA|VA) 1 $345,000 $345,000 $5,081 3.63%
Athens, TX (FHA|USDA|VA) 2 $240,000 $120,000 $6,499 3.75%
ODESSA, TX (FHA|USDA|VA) 1 $235,000 $235,000 $5,857 3.25%
Vernon, TX (FHA|USDA|VA) 1 $175,000 $175,000 $6,436 3.25%
Snyder, TX (FHA|USDA|VA) 1 $135,000 $135,000 $1,099 3.88%
AMARILLO, TX (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.00%
Gainesville, TX (FHA|USDA|VA) 1 $125,000 $125,000 $4,346 3.88%
WACO, TX (FHA|USDA|VA) 1 $105,000 $105,000 $1,109 3.00%
Palestine, TX (FHA|USDA|VA) 1 $95,000 $95,000 $0 4.00%
TYLER, TX (FHA|USDA|VA) 1 $85,000 $85,000 $4,568 3.63%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $85,000 $85,000 $3,907 3.38%
ABILENE, TX (FHA|USDA|VA) 1 $55,000 $55,000 $599 3.25%

Eecu's top markets include Dallas, Granbury, Houston, Mineral Wells, and Austin among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,583 $240,635,000 $152,012 $1,934 3.61%
FHA 8 $1,500,000 $187,500 $7,916 3.56%
VA 3 $745,000 $248,333 $6,738 3.21%

For the 2021 period, Eecu's most frequently originated loan type of loans were Conventional, with 1,583 originations. Their 2nd most popular type is FHA, with 8 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Improvement 663 $77,785,000 $117,323 $1,126 3.87%
Refi 379 $66,655,000 $175,871 $1,919 3.19%
Cash Out Refi 322 $49,100,000 $152,484 $1,805 3.63%
Home Purchase 172 $39,350,000 $228,779 $4,829 3.41%
Other 58 $9,990,000 $172,241 $2,126 3.79%

For the 2021, Eecu's most frequently cited loan purpose of loans were Home Improvement, with 663 originations. The 2nd most popular reason of loans were Refi, with 379 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 516 $110,600,000 $214,341 $2,991 3.55%
20 Year 514 $55,730,000 $108,424 $1,316 3.91%
15 Year 406 $58,840,000 $144,926 $1,430 3.30%
10 Year 124 $11,930,000 $96,210 $816 3.70%
5 Year 17 $1,325,000 $77,941 $523 3.13%
Other 16 $3,540,000 $221,250 $3,251 3.54%
1 Year 1 $915,000 $915,000 $0 3.25%

For the 2021, Eecu's most frequently cited loan length of loans were 30 Year, with 516 originations. The 2nd most popular length of loans were 20 Year, with 514 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 974 $132,290,000 $135,821
$1k-2k 259 $65,605,000 $253,301
$2k-3k 47 $11,085,000 $235,851
$3k-4k 26 $7,010,000 $269,615
$5k+ 7 $1,895,000 $270,714

$2,991 of loans were Eecu's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 974 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 1,062 $159,820,000 $150,490
2.5-3% 293 $55,395,000 $189,061
4-5% 207 $21,535,000 $104,034
<2.5% 20 $5,250,000 $262,500
5-6% 9 $705,000 $78,333
6-7% 3 $175,000 $58,333

During 2021, Eecu's average interest rate of loans were 3.55%, while their most frequently originated rate bucket of loans were 3-4%, with 1,062 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 801 $116,795,000 $145,811 $1,234 3.48%
$100,000 or less 474 $28,650,000 $60,443 $660 4.05%
$200k-400k 279 $77,035,000 $276,111 $4,729 3.28%
$400k-600k 35 $16,615,000 $474,714 $5,734 3.30%
$600k-1MM 5 $3,785,000 $757,000 $6,323 3.15%

2021 saw Eecu place emphasis on $100k-200k loans with 801 originations, totaling $116,795,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 430 $67,820,000 $157,721 $1,984 3.59%
$50k-75k 353 $45,715,000 $129,504 $1,548 3.60%
$75k-100k 296 $45,280,000 $152,973 $1,975 3.56%
$150k-250k 277 $50,415,000 $182,004 $2,717 3.62%
$50k or less 153 $14,605,000 $95,458 $1,333 3.70%
$250k+ 74 $17,340,000 $234,324 $3,279 3.70%

Eecu lent most frequently to those with incomes in the $100k-150k range, with 430 originations. The second most popular income band? $50k-75k, with 353 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 398 $56,770,000 $142,638 $1,813 3.56%
30-36% 350 $57,060,000 $163,029 $2,182 3.59%
<20% 139 $19,875,000 $142,986 $2,046 3.49%
42% 92 $13,300,000 $144,565 $1,665 3.72%
40% 80 $10,490,000 $131,125 $1,360 3.67%
41% 80 $12,240,000 $153,000 $1,396 3.60%
37% 76 $11,170,000 $146,974 $2,074 3.75%
39% 67 $11,665,000 $174,104 $1,965 3.65%
43% 66 $9,270,000 $140,455 $1,942 3.75%
38% 65 $10,655,000 $163,923 $2,182 3.59%
44% 63 $9,745,000 $154,683 $1,804 3.77%
36% 63 $9,205,000 $146,111 $1,861 3.58%
45% 17 $3,105,000 $182,647 $1,816 3.58%
46% 11 $1,705,000 $155,000 $3,520 3.59%
47% 5 $1,415,000 $283,000 $5,276 3.15%
48% 5 $1,255,000 $251,000 $3,688 3.08%
49% 5 $915,000 $183,000 $5,031 3.78%
50-60% 5 $1,775,000 $355,000 $8,761 3.55%
>60% 1 $165,000 $165,000 $2,575 3.00%

Eecu lent most frequently to those with DTI ratios of 20-30%, with 398 originations. The next most common DTI ratio? 30-36%, with 350 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,183 $179,095,000 $151,391 $1,929 3.61%
Not provided 229 $35,435,000 $154,738 $2,113 3.60%
Black 134 $19,040,000 $142,090 $2,058 3.64%
Asian 26 $5,480,000 $210,769 $2,475 3.37%
American Indian 15 $1,945,000 $129,667 $2,171 3.67%
Not applicable 5 $865,000 $173,000 $0 4.08%
Asian Indian 1 $855,000 $855,000 $8,736 3.38%
Korean 1 $165,000 $165,000 $599 3.00%

Approval Rates

Total approvals of all applications
69.53%

Eecu has a low approval rate. They may have poor market targeting or stringent lending standards.

Pick Rate

Approvals leading to origination
84.28%

Eecu has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
0.0 1 $155,000 $155,000
NA 1,593 $242,725,000 $152,370

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,594 $242,880,000 $152,371

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 266 $27,800,000 $104,511 $937 3.83%
40-60% 328 $47,970,000 $146,250 $1,449 3.43%
60-80% 573 $111,405,000 $194,424 $2,251 3.42%
80-100% 163 $40,135,000 $246,227 $4,311 3.41%
Over 100% 1 $225,000 $225,000 $10,508 3.25%
Under 20% 263 $15,345,000 $58,346 $387 4.13%