Santa Barbara Teachers Federal Credit Union Mortgage Rates, Fees & Info
Santa Barbara, CALEI: 2549009PZCHF8GGHET49
Tax ID: 95-1677895
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Santa Barbara Teachers Federal Credit Union is a smaller credit union specializing in Refi loans. Santa Barbara Teachers Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Santa Maria, San Luis Obispo, and Oxnard among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Santa Barbara Teachers Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
62Origination Dollar Volume (All Markets)
$16,310,000Top 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 |
|---|---|---|---|---|---|
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 51 | $13,495,000 | $264,608 | $0 | 0.00% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 10 | $2,680,000 | $268,000 | $0 | 0.00% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 62 | $16,310,000 | $263,065 | $0 | 0.00% |
For 2020, Santa Barbara Teachers Federal Credit Union's most frequently originated type of loan was Conventional, with 62 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 62 | $16,310,000 | $263,065 | $0 | 0.00% |
For 2020, Santa Barbara Teachers Federal Credit Union's most frequently cited loan purpose was Refi, with 62 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 62 | $16,310,000 | $263,065 | $0 | 0.00% |
For 2020, Santa Barbara Teachers Federal Credit Union's most frequently cited loan duration was Other, with 62 originations.
Loan Sizing
2020 saw Santa Barbara Teachers Federal Credit Union place emphasis on $200k-400k loans with 34 originations, totaling $9,980,000 in origination value.
Applicant Income
Santa Barbara Teachers Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 18 originations. The second most popular income band? $150k-250k, with 14 originations.
Applicant Debt to Income Ratio
Santa Barbara Teachers Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? 30-36%, with 13 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 61 | $16,055,000 | $263,197 | $0 | 0.00% |
| Asian | 1 | $255,000 | $255,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.30%
Santa Barbara Teachers Federal 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 origination83.87%
Santa Barbara Teachers Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 62 | $16,310,000 | $263,065 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $205,000 | $205,000 |
| Single Family (1-4 Units):Site-Built | 61 | $16,105,000 | $264,016 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SUMMIT FUNDING, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 16.7% |
| SUMMIT FUNDING, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 16.7% |
| SUMMIT FUNDING, INC. | Conventional home mortgage | Trouble during payment process | 2 | 33.3% |
| SUMMIT FUNDING, INC. | FHA mortgage | Trouble during payment process | 1 | 16.7% |
| SUMMIT FUNDING, INC. | VA mortgage | Closing on a mortgage | 1 | 16.7% |