Eecu Mortgage Rates, Fees & Info
Fort Worth, TXLEI: 549300Z7KF7I03AULW22
Tax ID: 75-0275915
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
1,594Origination Dollar Volume (All Markets)
$242,880,000Awards
EECU - 2021
EECU is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications69.53%
Eecu has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination84.28%
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% |
