Sm Federal Credit Union Mortgage Rates, Fees & Info
Mission, KSLEI: 254900C0V7P5V6VLDD08
Tax ID: 48-0686433
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Mortgage Data
Review & Overview
Sm Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Sm Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Kansas City.Sm Federal Credit Union has an above average approval rate when compared to the average across all lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 12/2/24 |
| 30 Year Cash-out Refi | 6.27% | 12/2/24 |
| 15 Year Conventional Purchase | 5.68% | 12/2/24 |
| 15 Year Conventional Refi | 5.68% | 12/2/24 |
| 15 Year Cash-out Refi | 5.68% | 12/2/24 |
| 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. | ||
Sm Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
15Origination Dollar Volume (All Markets)
$2,825,000Top 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 |
|---|---|---|---|---|---|
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 14 | $2,560,000 | $182,857 | $1,174 | 5.52% |
| Outside of Metro Areas | 1 | $265,000 | $265,000 | $1,199 | 6.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 15 | $2,825,000 | $188,333 | $1,176 | 5.57% |
For 2023, Sm Federal Credit Union's most frequently originated type of loan was Conventional, with 15 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 9 | $1,545,000 | $171,667 | $841 | 5.58% |
| Home Purchase | 6 | $1,280,000 | $213,333 | $1,678 | 5.54% |
For 2023, Sm Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 9 originations. The 2nd most popular reason was Home Purchase, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 14 | $2,670,000 | $190,714 | $1,082 | 5.62% |
| 10 Year | 1 | $155,000 | $155,000 | $2,493 | 4.88% |
For 2023, Sm Federal Credit Union's most frequently cited loan duration was 15 Year, with 14 originations. The 2nd most popular length was 10 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 15 | $2,825,000 | $188,333 |
Sm Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 15 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 10 | $1,600,000 | $160,000 |
| 4-5% | 4 | $960,000 | $240,000 |
| 6-7% | 1 | $265,000 | $265,000 |
During 2023, Sm Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 10 originations.
Loan Sizing
2023 saw Sm Federal Credit Union place emphasis on $200k-400k loans with 8 originations, totaling $2,120,000 in origination value.
Applicant Income
Sm Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $150k-250k, with 3 originations.
Applicant Debt to Income Ratio
Sm Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? <20%, with 2 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 15 | $2,825,000 | $188,333 | $1,176 | 5.57% |
Approval Rates
Total approvals of all applications100.00%
Sm 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 15 | $2,825,000 | $188,333 |