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 markets by origination volume include: Kansas City, Lawrence, Springfield, St. Louis, and Tulsa among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Sm Federal Credit Union has an above average approval rate when compared to the average across all lenders. Sm Federal Credit Union 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 12/4/24 |
| 30 Year Cash-out Refi | 6.27% | 12/4/24 |
| 15 Year Conventional Purchase | 5.68% | 12/4/24 |
| 15 Year Conventional Refi | 5.68% | 12/4/24 |
| 15 Year Cash-out Refi | 5.68% | 12/4/24 |
| 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
44Origination Dollar Volume (All Markets)
$10,320,000Top 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) | 37 | $8,695,000 | $235,000 | $1,466 | 3.02% |
| Outside of Metro Areas | 3 | $965,000 | $321,667 | $1,707 | 3.04% |
| LAWRENCE, KS (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $1,168 | 4.25% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,003 | 5.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $543 | 2.75% |
| TULSA, OK (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $1,393 | 2.63% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 44 | $10,320,000 | $234,545 | $1,465 | 3.08% |
For 2022, Sm Federal Credit Union's most frequently originated type of loan was Conventional, with 44 originations.
Loan Reason
For 2022, Sm Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 20 originations. The 2nd most popular reason was Home Purchase, with 15 originations.
Loan Duration/Length
For 2022, Sm Federal Credit Union's most frequently cited loan duration was 15 Year, with 31 originations. The 2nd most popular length was 10 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 39 | $8,635,000 | $221,410 |
| $1k-2k | 3 | $1,085,000 | $361,667 |
| $2k-3k | 2 | $600,000 | $300,000 |
Sm Federal Credit Union's average total fees were $1,949, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 39 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 20 | $3,860,000 | $193,000 |
| 4-5% | 12 | $3,240,000 | $270,000 |
| 2.5-3% | 7 | $1,545,000 | $220,714 |
| 3-4% | 4 | $1,280,000 | $320,000 |
| 5-6% | 1 | $395,000 | $395,000 |
During 2022, Sm Federal Credit Union's average interest rate for loans was 3.96%, while their most frequently originated rate bucket for loans was <2.5%, with 20 originations.
Loan Sizing
2022 saw Sm Federal Credit Union place emphasis on $200k-400k loans with 19 originations, totaling $5,555,000 in origination value.
Applicant Income
Sm Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $50k-75k, with 11 originations.
Applicant Debt to Income Ratio
Sm Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? <20%, with 9 originations.
Ethnicity Mix
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 | 44 | $10,320,000 | $234,545 |