State Department Federal Credit Union Mortgage Rates, Fees & Info

Alexandria, VA

LEI: 254900EZRN0CBEP77K34

Tax ID: 53-0197045

2 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

State Department Federal Credit Union is a smaller credit union specializing in Home Improvement, Refi, and Home Purchase loans. State Department Federal Credit Union has a high proportion of conventional loans. Their top markets include Washington, Baltimore, Los Angeles, New York, and Tampa among others. State Department Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. State Department Federal Credit Union is typically a high fee lendor.


Originations

675

Origination Dollar Volume (All Markets)

$134,205,000

Awards

State Department Federal Credit Union 30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

State Department Federal Credit Union's average 30 year fixed rate mortgage of loans were 2.98%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.17%.

Relative Fees

State Department Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $8,277.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 353 $74,265,000 $210,382 $5,032 3.70%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 28 $3,560,000 $127,143 $2,832 4.05%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 11 $3,245,000 $295,000 $4,787 4.06%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 7 $2,385,000 $340,714 $9,007 3.37%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 13 $2,145,000 $165,000 $4,306 3.80%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 8 $2,100,000 $262,500 $7,826 3.53%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 9 $1,875,000 $208,333 $6,114 3.65%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 4 $1,660,000 $415,000 $8,677 2.94%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 8 $1,640,000 $205,000 $1,119 4.12%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 9 $1,585,000 $176,111 $3,662 3.73%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 8 $1,490,000 $186,250 $4,104 3.89%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 5 $1,375,000 $275,000 $6,930 3.05%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 2 $1,260,000 $630,000 $15,456 3.43%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 8 $1,240,000 $155,000 $5,014 4.06%
Outside of Metro Areas 8 $1,200,000 $150,000 $3,835 3.72%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $1,125,000 $1,125,000 $16,935 2.88%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $1,075,000 $215,000 $6,670 3.39%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 5 $1,025,000 $205,000 $2,736 4.96%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 5 $1,025,000 $205,000 $4,511 4.61%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $920,000 $230,000 $4,971 3.53%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 3 $915,000 $305,000 $7,114 3.62%
Easton, MD (FHA|USDA|VA) 1 $905,000 $905,000 $15,826 2.38%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 5 $905,000 $181,000 $2,946 4.08%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 4 $830,000 $207,500 $7,107 3.62%
ASHEVILLE, NC (FHA|USDA|VA) 4 $820,000 $205,000 $5,716 2.90%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 5 $815,000 $163,000 $6,385 3.34%
COLORADO SPRINGS, CO (FHA|USDA|VA) 2 $740,000 $370,000 $5,543 3.70%
BOISE CITY, ID (FHA|USDA|VA) 4 $730,000 $182,500 $4,602 3.42%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 5 $725,000 $145,000 $4,358 4.14%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 6 $680,000 $113,333 $1,998 4.25%
RICHMOND, VA (FHA|USDA|VA) 6 $600,000 $100,000 $1,083 4.32%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 2 $560,000 $280,000 $9,048 3.19%
BELLINGHAM, WA (FHA|USDA|VA) 2 $560,000 $280,000 $5,158 2.93%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $555,000 $185,000 $6,848 3.66%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 4 $540,000 $135,000 $4,845 3.31%
FORT COLLINS, CO (FHA|USDA|VA) 1 $535,000 $535,000 $8,746 2.88%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 2 $530,000 $265,000 $4,928 2.88%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $525,000 $525,000 $7,628 3.38%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $510,000 $255,000 $0 3.99%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $505,000 $168,333 $4,837 3.45%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 4 $450,000 $112,500 $4,282 3.53%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $440,000 $220,000 $4,231 3.13%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $425,000 $425,000 $7,869 2.38%
WORCESTER, MA-CT (FHA|USDA|VA) 3 $415,000 $138,333 $3,804 3.62%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $405,000 $135,000 $3,225 3.53%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $400,000 $200,000 $6,240 3.13%
SALINAS, CA (FHA|USDA|VA) 1 $395,000 $395,000 $9,565 3.88%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $350,000 $175,000 $4,814 3.43%
PROVO-OREM, UT (FHA|USDA|VA) 1 $345,000 $345,000 $7,401 2.63%
ANN ARBOR, MI (FHA|USDA|VA) 1 $345,000 $345,000 $7,635 3.00%
LAS CRUCES, NM (FHA|USDA|VA) 1 $335,000 $335,000 $8,040 3.13%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $315,000 $315,000 $7,760 3.75%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $315,000 $315,000 $1,121 4.59%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $310,000 $155,000 $0 3.99%
RALEIGH-CARY, NC (FHA|USDA|VA) 4 $310,000 $77,500 $825 4.15%
URBAN HONOLULU, HI (FHA|USDA|VA) 1 $305,000 $305,000 $8,197 2.38%
Show Low, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $7,177 2.50%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 3 $295,000 $98,333 $3,241 4.04%
COLUMBUS, OH (FHA|USDA|VA) 2 $290,000 $145,000 $1,047 4.27%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $290,000 $145,000 $4,013 3.62%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $285,000 $95,000 $718 5.99%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $285,000 $285,000 $7,349 2.75%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $285,000 $285,000 $7,974 2.75%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $275,000 $275,000 $6,737 2.88%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 2 $270,000 $135,000 $3,356 3.86%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $265,000 $265,000 $6,651 2.75%
TYLER, TX (FHA|USDA|VA) 1 $265,000 $265,000 $7,661 2.63%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $255,000 $255,000 $6,194 2.88%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $255,000 $255,000 $6,639 2.38%
FRESNO, CA (FHA|USDA|VA) 2 $210,000 $105,000 $1,180 3.69%
PITTSFIELD, MA (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.99%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.99%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.99%
London, KY (FHA|USDA|VA) 1 $205,000 $205,000 $4,245 3.25%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $200,000 $100,000 $894 4.54%
WINCHESTER, VA-WV (FHA|USDA|VA) 2 $190,000 $95,000 $2,724 3.43%
PANAMA CITY, FL (FHA|USDA|VA) 1 $185,000 $185,000 $5,838 2.88%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $185,000 $185,000 $5,813 2.88%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $175,000 $175,000 $5,716 2.88%
BOULDER, CO (FHA|USDA|VA) 2 $160,000 $80,000 $0 3.99%
FARMINGTON, NM (FHA|USDA|VA) 1 $155,000 $155,000 $5,153 2.88%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 3 $145,000 $48,333 $574 4.34%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $145,000 $145,000 $1,360 4.99%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $135,000 $135,000 $0 3.99%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $120,000 $60,000 $981 4.59%
TWIN FALLS, ID (FHA|USDA|VA) 1 $105,000 $105,000 $1,701 2.64%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $105,000 $105,000 $1,372 6.34%
SUMTER, SC (FHA|USDA|VA) 1 $105,000 $105,000 $1,416 6.09%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $95,000 $95,000 $1,345 4.54%
WILMINGTON, NC (FHA|USDA|VA) 1 $95,000 $95,000 $0 3.99%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $85,000 $85,000 $4,011 2.88%
Richmond-Berea, KY (FHA|USDA|VA) 1 $85,000 $85,000 $1,095 6.09%
HARRISONBURG, VA (FHA|USDA|VA) 1 $85,000 $85,000 $1,154 4.59%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $75,000 $75,000 $1,095 4.39%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $65,000 $65,000 $1,149 6.04%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $65,000 $65,000 $1,056 5.09%
VISALIA, CA (FHA|USDA|VA) 1 $55,000 $55,000 $595 4.59%
ALBANY-LEBANON, OR (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.99%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.99%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $55,000 $55,000 $853 2.89%
MUSKEGON, MI (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.99%
RENO, NV (FHA|USDA|VA) 1 $55,000 $55,000 $568 4.64%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.99%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.99%
Henderson, NC (FHA|USDA|VA) 1 $55,000 $55,000 $3,103 3.13%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $55,000 $55,000 $610 3.24%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $55,000 $55,000 $845 2.64%
DOVER, DE (FHA|USDA|VA) 1 $55,000 $55,000 $825 3.39%
Sevierville, TN (FHA|USDA|VA) 1 $55,000 $55,000 $600 5.04%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $55,000 $55,000 $1,100 4.39%
Danville, VA (FHA|USDA|VA) 1 $55,000 $55,000 $830 2.64%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.99%
TUCSON, AZ (FHA|USDA|VA) 1 $55,000 $55,000 $572 4.54%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.99%
Morehead City, NC (FHA|USDA|VA) 1 $45,000 $45,000 $0 3.99%
JOHNSTOWN, PA (FHA|USDA|VA) 1 $45,000 $45,000 $550 3.54%
COLUMBIA, SC (FHA|USDA|VA) 1 $45,000 $45,000 $825 4.89%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $35,000 $35,000 $576 4.19%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $35,000 $35,000 $753 3.34%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $35,000 $35,000 $737 4.59%
ROANOKE, VA (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.99%

State Department Federal Credit Union's top markets include Washington, Baltimore, Los Angeles, New York, and Tampa among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 675 $134,205,000 $198,822 $4,680 3.75%

For the 2021 period, State Department Federal Credit Union's most frequently originated loan type of loans were Conventional, with 675 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Improvement 292 $32,720,000 $112,055 $868 4.13%
Refi 134 $41,190,000 $307,388 $6,372 3.12%
Other 117 $12,495,000 $106,795 $901 4.43%
Home Purchase 89 $32,295,000 $362,865 $8,008 2.94%
Cash Out Refi 43 $15,505,000 $360,581 $7,610 2.91%

For the 2021, State Department Federal Credit Union's most frequently cited loan purpose of loans were Home Improvement, with 292 originations. The 2nd most popular reason of loans were Refi, with 134 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 276 $34,940,000 $126,594 $789 3.97%
30 Year 144 $58,110,000 $403,542 $8,277 2.98%
20 Year 109 $14,885,000 $136,560 $1,819 4.25%
15 Year 97 $23,005,000 $237,165 $5,215 3.17%
10 Year 34 $2,590,000 $76,176 $1,059 5.22%
5 Year 15 $675,000 $45,000 $607 3.75%

For the 2021, State Department Federal Credit Union's most frequently cited loan length of loans were Other, with 276 originations. The 2nd most popular length of loans were 30 Year, with 144 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 186 $16,260,000 $87,419
$5k+ 117 $56,715,000 $484,744
$3k-4k 68 $16,700,000 $245,588
$1k-2k 31 $8,455,000 $272,742
$2k-3k 16 $2,300,000 $143,750

$8,277 of loans were State Department Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 186 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 326 $51,740,000 $158,712
2.5-3% 143 $52,275,000 $365,559
4-5% 104 $9,630,000 $92,596
<2.5% 54 $16,420,000 $304,074
5-6% 28 $2,530,000 $90,357
6-7% 16 $1,400,000 $87,500
7-8% 3 $155,000 $51,667
Over 8% 1 $55,000 $55,000

During 2021, State Department Federal Credit Union's average interest rate of loans were 2.98%, while their most frequently originated rate bucket of loans were 3-4%, with 326 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 259 $14,485,000 $55,927 $846 4.26%
$200k-400k 177 $49,145,000 $277,655 $6,196 3.37%
$100k-200k 148 $20,890,000 $141,149 $3,044 3.85%
$400k-600k 71 $34,625,000 $487,676 $8,952 2.86%
$600k-1MM 19 $13,935,000 $733,421 $13,586 2.77%
$1MM+ 1 $1,125,000 $1,125,000 $16,935 2.88%

2021 saw State Department Federal Credit Union place emphasis on $100,000 or less loans with 259 originations, totaling $14,485,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 233 $50,755,000 $217,833 $5,153 3.74%
$100k-150k 224 $42,530,000 $189,866 $4,890 3.72%
$250k+ 87 $24,805,000 $285,115 $5,355 3.79%
$75k-100k 72 $9,300,000 $129,167 $3,325 3.82%
$50k-75k 47 $5,255,000 $111,809 $3,267 3.79%
$50k or less 11 $1,405,000 $127,727 $2,148 3.63%

State Department Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 233 originations. The second most popular income band? $100k-150k, with 224 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 162 $38,310,000 $236,481 $5,484 3.49%
30-36% 120 $27,760,000 $231,333 $5,440 3.70%
<20% 82 $15,710,000 $191,585 $5,183 3.16%
45% 38 $4,610,000 $121,316 $982 4.20%
42% 35 $8,795,000 $251,286 $5,573 3.69%
40% 27 $4,135,000 $153,148 $3,613 4.01%
44% 25 $3,065,000 $122,600 $895 4.30%
39% 22 $3,110,000 $141,364 $3,560 4.04%
46% 21 $2,875,000 $136,905 $969 4.43%
37% 21 $4,155,000 $197,857 $3,586 4.17%
36% 19 $3,525,000 $185,526 $4,526 3.62%
38% 18 $5,440,000 $302,222 $6,797 3.54%
43% 17 $1,875,000 $110,294 $1,531 4.42%
41% 17 $3,935,000 $231,471 $4,592 3.94%
47% 16 $2,760,000 $172,500 $992 4.35%
49% 13 $1,525,000 $117,308 $921 3.99%
48% 11 $1,385,000 $125,909 $1,217 4.25%
50-60% 11 $1,235,000 $112,273 $890 4.06%

State Department Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 162 originations. The next most common DTI ratio? 30-36%, with 120 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 346 $68,680,000 $198,497 $4,809 3.75%
Not provided 176 $39,380,000 $223,750 $5,305 3.59%
Black 109 $16,605,000 $152,339 $3,430 3.96%
Asian 32 $6,890,000 $215,313 $4,439 3.91%
Native Hawaiian 3 $1,095,000 $365,000 $5,161 3.41%
Asian Indian 2 $610,000 $305,000 $0 3.99%
Other Asian 2 $410,000 $205,000 $1,092 4.19%
American Indian 3 $355,000 $118,333 $6,737 3.62%
Guamanian 1 $125,000 $125,000 $1,706 3.54%
Chinese 1 $55,000 $55,000 $836 2.84%

Approval Rates

Total approvals of all applications
76.54%

State Department Federal Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
63.17%

State Department Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 675 $134,205,000 $198,822

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
675 $134,205,000 $198,822

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 159 $27,255,000 $171,415 $2,162 4.12%
40-60% 76 $22,530,000 $296,447 $6,620 3.08%
60-80% 113 $45,615,000 $403,673 $8,171 2.86%
80-100% 53 $19,065,000 $359,717 $7,872 3.06%
Under 20% 274 $19,740,000 $72,044 $875 4.22%