Eecu Mortgage Rates, Fees & Info
Fort Worth, TXLEI: 549300Z7KF7I03AULW22
Tax ID: 75-0275915
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Mortgage Data
Review & 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 by origination volume include: Dallas, Granbury, Houston, Mineral Wells, and Austin among others. We have data for 22 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 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 6.78% | 4/21/24 |
| 30 Year Conventional Refi | 6.66% | 4/21/24 |
| 30 Year Cash-out Refi | 7.11% | 4/21/24 |
| 30 Year FHA Purchase | 8.06% | 4/21/24 |
| 30 Year VA Purchase | 6.73% | 4/21/24 |
| 15 Year Conventional Purchase | 6.48% | 4/21/24 |
| 15 Year Conventional Refi | 6.70% | 4/21/24 |
| 15 Year Cash-out Refi | 6.70% | 4/21/24 |
| 15 Year VA Purchase | 6.56% | 4/21/24 |
| 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. | ||
Eecu Mortgage Calculator
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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
1,594Origination 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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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) | 1,494 | $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% |
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.
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Product Mix
For 2021, Eecu's most frequently originated type of loan was Conventional, with 1,307 originations. Their 2nd most popular type was HELOC, with 276 originations.
Loan Reason
For 2021, Eecu's most frequently cited loan purpose was Home Improvement, with 663 originations. The 2nd most popular reason was Refi, with 379 originations.
Loan Duration/Length
For 2021, Eecu's most frequently cited loan duration was 30 Year, with 516 originations. The 2nd most popular length was 20 Year, with 514 originations.
Origination Fees/Closing Costs
Eecu's average total fees were $2,991, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 974 originations.
Interest Rates
During 2021, Eecu's average interest rate for loans was 3.55%, while their most frequently originated rate bucket for loans was 3-4%, with 1,062 originations.
Loan Sizing
2021 saw Eecu place emphasis on $100k-200k loans with 801 originations, totaling $116,795,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications65.72%
Eecu has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination82.25%
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 |