Eecu Mortgage Rates, Fees & Info

Fort Worth, TX

LEI: 549300Z7KF7I03AULW22

Tax ID: 75-0275915

5 stars - Updated: 9/18/23 - out of 5 stars, based on 42 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Eecu is a smaller mortgage company specializing in Home Improvement, Cash Out Refi, and Home Purchase 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 by origination volume include: Dallas, Houston, Granbury, Austin, and Mineral Wells among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Eecu has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Eecu 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.

    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
    Home Equity Line of Credit (HELOC) 6.27% 9/18/23
    30 Year Conventional Purchase 6.78% 9/18/23
    30 Year Conventional Refi 6.66% 9/18/23
    30 Year Cash-out Refi 7.11% 9/18/23
    30 Year FHA Purchase 8.06% 9/18/23
    30 Year VA Purchase 6.73% 9/18/23
    15 Year Conventional Purchase 6.48% 9/18/23
    15 Year Conventional Refi 6.70% 9/18/23
    15 Year Cash-out Refi 6.70% 9/18/23
    15 Year VA Purchase 6.56% 9/18/23
    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.

    Eecu Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Eecu. 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

    1,798

    Origination Dollar Volume (All Markets)

    $240,270,000

    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 mortgage rate was 5.22%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.46%.

    Relative Fees (Closing Costs)

    Eecu's average total fees/closing costs for a 30 year fixed rate mortgage were $4,000.

    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 $4,750.

    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
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1,662 $221,430,000 $133,231 $2,206 5.27%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 22 $3,740,000 $170,000 $2,909 5.02%
    Outside of Metro Areas 19 $3,265,000 $171,842 $2,602 4.83%
    Granbury, TX (FHA|USDA|VA) 28 $2,950,000 $105,357 $2,321 5.46%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 19 $2,285,000 $120,263 $215 5.32%
    Mineral Wells, TX (FHA|USDA|VA) 7 $1,165,000 $166,429 $4,429 4.61%
    Stephenville, TX (FHA|USDA|VA) 7 $815,000 $116,429 $3,667 4.70%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 3 $605,000 $201,667 $2,814 5.38%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $530,000 $132,500 $800 6.00%
    Athens, TX (FHA|USDA|VA) 2 $380,000 $190,000 $3,827 3.88%
    LONGVIEW, TX (FHA|USDA|VA) 2 $370,000 $185,000 $4,541 6.50%
    LUBBOCK, TX (FHA|USDA|VA) 2 $340,000 $170,000 $6,811 6.63%
    Gainesville, TX (FHA|USDA|VA) 2 $340,000 $170,000 $0 6.88%
    WACO, TX (FHA|USDA|VA) 2 $300,000 $150,000 $4,914 5.69%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 5 $275,000 $55,000 $1,049 6.48%
    Paris, TX (FHA|USDA|VA) 1 $245,000 $245,000 $3,317 6.00%
    EL PASO, TX (FHA|USDA|VA) 2 $240,000 $120,000 $0 4.38%
    ODESSA, TX (FHA|USDA|VA) 1 $195,000 $195,000 $0 5.50%
    Mount Pleasant, TX (FHA|USDA|VA) 1 $185,000 $185,000 $599 4.00%
    Fredericksburg, TX (FHA|USDA|VA) 1 $155,000 $155,000 $0 7.50%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $155,000 $155,000 $0 5.50%
    TYLER, TX (FHA|USDA|VA) 2 $140,000 $70,000 $0 4.75%
    Plainview, TX (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.00%
    LAREDO, TX (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.00%
    TEXARKANA, TX-AR (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.75%
    Eecu's top markets include Dallas, Houston, Granbury, Austin, and Mineral Wells among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against EECU 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: 360
    U S WIDE FINANCIAL LLC
    Similarity Rank: 528
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 968
    Credence Funding Corporation
    Similarity Rank: 1027
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1170
    CAPITAL PLUS FINANCIAL, LLC
    Similarity Rank: 1200
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 1400
    FC LENDING, LTD.
    Similarity Rank: 1448
    DATCU
    Similarity Rank: 1665
    HOME FINANCING UNLIMITED, INC.
    Similarity Rank: 1727

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 939 $105,815,000 $112,689 n/a 5.06%
    Conventional 856 $133,280,000 $155,701 $2,203 5.51%
    VA 2 $800,000 $400,000 $12,566 4.38%
    FHA 1 $375,000 $375,000 $17,787 5.63%

    For 2022, Eecu's most frequently originated type of loan was HELOC, with 939 originations. Their 2nd most popular type was Conventional, with 856 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 702 $69,260,000 $98,661 $695 5.31%
    Cash Out Refi 409 $63,365,000 $154,927 $2,087 5.29%
    Other 384 $37,180,000 $96,823 $428 5.44%
    Home Purchase 220 $53,790,000 $244,500 $5,190 5.12%
    Refi 83 $16,675,000 $200,904 $2,831 4.46%

    For 2022, Eecu's most frequently cited loan purpose was Home Improvement, with 702 originations. The 2nd most popular reason was Cash Out Refi, with 409 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 1,136 $127,260,000 $112,025 $725 5.23%
    30 Year 308 $75,410,000 $244,838 $4,000 5.22%
    15 Year 246 $26,840,000 $109,106 $1,375 5.47%
    10 Year 91 $8,535,000 $93,791 $417 5.45%
    5 Year 16 $2,120,000 $132,500 $599 4.86%
    Other 1 $105,000 $105,000 $599 3.75%

    For 2022, Eecu's most frequently cited loan duration was 20 Year, with 1,136 originations. The 2nd most popular length was 30 Year, with 308 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 603 $68,055,000 $112,861
    $1k-2k 153 $34,975,000 $228,595
    $2k-3k 61 $14,975,000 $245,492
    $3k-4k 14 $4,090,000 $292,143
    $5k+ 14 $5,570,000 $397,857
    $4k-5k 11 $3,755,000 $341,364

    Eecu's average total fees were $4,000, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 603 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 481 $65,315,000 $135,790
    5-6% 465 $63,935,000 $137,495
    6-7% 400 $47,070,000 $117,675
    4-5% 347 $52,115,000 $150,187
    7-8% 78 $8,830,000 $113,205
    Over 8% 20 $1,690,000 $84,500
    2.5-3% 7 $1,315,000 $187,857

    During 2022, Eecu's average interest rate for loans was 5.22%, while their most frequently originated rate bucket for loans was 3-4%, with 481 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 833 $122,925,000 $147,569 $1,277 5.12%
    $100,000 or less 754 $46,100,000 $61,141 $569 5.51%
    $200k-400k 171 $48,475,000 $283,480 $5,744 4.94%
    $400k-600k 33 $15,625,000 $473,485 $6,790 5.28%
    $600k-1MM 4 $3,050,000 $762,500 $7,253 4.06%
    $1MM+ 3 $4,095,000 $1,365,000 $0 5.28%

    2022 saw Eecu place emphasis on $100k-200k loans with 833 originations, totaling $122,925,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 508 $65,720,000 $129,370 $2,545 5.20%
    $150k-250k 433 $62,205,000 $143,661 $2,428 5.25%
    $75k-100k 318 $38,390,000 $120,723 $2,095 5.36%
    $50k-75k 293 $34,715,000 $118,481 $1,975 5.29%
    $250k+ 140 $27,640,000 $197,429 $3,182 5.15%
    $50k or less 101 $8,135,000 $80,545 $1,224 5.53%

    Eecu lent most frequently to those with incomes in the $100k-150k range, with 508 originations. The second most popular income band? $150k-250k, with 433 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 328 $43,630,000 $133,018 $2,355 5.21%
    20-30% 313 $38,975,000 $124,521 $1,806 5.07%
    44% 197 $24,905,000 $126,421 $1,861 5.31%
    43% 142 $18,250,000 $128,521 $2,082 5.43%
    42% 132 $17,150,000 $129,924 $2,180 5.44%
    <20% 117 $15,085,000 $128,932 $1,801 4.93%
    38% 106 $14,770,000 $139,340 $2,244 5.30%
    41% 93 $11,755,000 $126,398 $2,288 5.50%
    39% 73 $8,905,000 $121,986 $2,150 5.43%
    37% 73 $10,145,000 $138,973 $2,666 5.26%
    40% 68 $8,160,000 $120,000 $1,617 5.50%
    36% 63 $7,705,000 $122,302 $2,204 5.43%
    45% 46 $7,300,000 $158,696 $2,625 5.45%
    46% 18 $2,950,000 $163,889 $4,527 5.71%
    47% 9 $2,765,000 $307,222 $4,831 5.08%
    49% 9 $2,885,000 $320,556 $5,284 5.46%
    48% 6 $1,370,000 $228,333 $4,693 4.15%
    50-60% 2 $530,000 $265,000 $7,966 3.81%

    Eecu lent most frequently to those with DTI ratios of 30-36%, with 328 originations. The next most common DTI ratio? 20-30%, with 313 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,328 $174,520,000 $131,416 $2,142 5.25%
    Not provided 237 $32,695,000 $137,954 $2,515 5.30%
    Black 147 $18,495,000 $125,816 $2,762 5.42%
    Asian 50 $7,320,000 $146,400 $2,863 5.07%
    American Indian 28 $3,180,000 $113,571 $1,707 5.25%
    Not applicable 3 $3,035,000 $1,011,667 $0 5.20%
    Asian Indian 3 $555,000 $185,000 $0 6.25%
    Native Hawaiian or Islander 2 $470,000 $235,000 $5,236 4.75%

    Approval Rates

    Total approvals of all applications
    65.06%

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

    Pick Rate

    Approvals leading to origination
    77.36%

    Eecu has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    265.0 1 $115,000 $115,000
    NA 1,797 $240,155,000 $133,642

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,798 $240,270,000 $133,632

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 525 $64,035,000 $121,971 $1,269 5.30%
    40-60% 257 $43,175,000 $167,996 $1,898 5.15%
    60-80% 251 $53,425,000 $212,849 $3,190 4.91%
    80-100% 109 $31,095,000 $285,275 $5,608 5.11%
    Under 20% 656 $48,540,000 $73,994 $291 5.46%