Educators Credit Union Mortgage Rates, Fees & Info
WACO, TXLEI: 8945002AZSML1PBU6N20
Tax ID: 74-1129327
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Educators Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Educators Credit Union has a high proportion of conventional loans. Their top two markets are Waco and Killeen .Educators Credit Union has an above average approval rate when compared to the average across all lenders.
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.
Originations
30Origination Dollar Volume (All Markets)
$2,710,000Top Markets
Click or Hover to activate map
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 |
|---|---|---|---|---|---|
| WACO, TX (FHA|USDA|VA) | 27 | $2,545,000 | $94,259 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $110,000 | $55,000 | $0 | 0.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 30 | $2,710,000 | $90,333 | $0 | 0.00% |
For 2024, Educators Credit Union's most frequently originated type of loan was Conventional, with 30 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 22 | $1,690,000 | $76,818 | $0 | 0.00% |
| Cash Out Refi | 7 | $975,000 | $139,286 | $0 | 0.00% |
| Refi | 1 | $45,000 | $45,000 | $0 | 0.00% |
For 2024, Educators Credit Union's most frequently cited loan purpose was Home Improvement, with 22 originations. The 2nd most popular reason was Cash Out Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 30 | $2,710,000 | $90,333 | $0 | 0.00% |
For 2024, Educators Credit Union's most frequently cited loan duration was Other, with 30 originations.
Loan Sizing
2024 saw Educators Credit Union place emphasis on $100,000 or less loans with 20 originations, totaling $1,120,000 in origination value.
Applicant Income
Educators Credit Union lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $50k-75k, with 7 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 29 | $2,675,000 | $92,241 | $0 | 0.00% |
| American Indian | 1 | $35,000 | $35,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Educators Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 30 | $2,710,000 | $90,333 |