Cleveland Selfreliance Fcu Mortgage Rates, Fees & Info
Parma, OHLEI: 254900GPAJ6P5LU2KH48
Tax ID: 34-0830697
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Mortgage Data
Review & Overview
Cleveland Selfreliance Fcu is a smaller credit union specializing in Home Purchase and Refi loans. Cleveland Selfreliance Fcu has a high proportion of conventional loans. Their top two markets are Cleveland and Akron .Cleveland Selfreliance Fcu has an above average approval rate when compared to the average across all lenders. Cleveland Selfreliance Fcu 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.
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Originations
25Origination Dollar Volume (All Markets)
$3,745,000Awards
Cleveland Selfreliance FCU - 2019
Cleveland Selfreliance FCU is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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Top 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 |
|---|---|---|---|---|---|
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 23 | $3,465,000 | $150,652 | $2,111 | 3.79% |
| AKRON, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,432 | 3.95% |
| Outside of Metro Areas | 1 | $125,000 | $125,000 | $2,586 | 3.95% |
Similar Lenders
We use machine learning to identify the top lenders compared against Cleveland Selfreliance FCU based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 25 | $3,745,000 | $149,800 | $2,143 | 3.80% |
For 2019, Cleveland Selfreliance Fcu's most frequently originated type of loan was Conventional, with 25 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 14 | $1,880,000 | $134,286 | $2,189 | 3.88% |
| Refi | 10 | $1,830,000 | $183,000 | $2,125 | 3.71% |
| NA | 1 | $35,000 | $35,000 | $1,677 | 3.70% |
For 2019, Cleveland Selfreliance Fcu's most frequently cited loan purpose was Home Purchase, with 14 originations. The 2nd most popular reason was Refi, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 22 | $3,410,000 | $155,000 | $2,185 | 3.83% |
| 15 Year | 3 | $335,000 | $111,667 | $1,829 | 3.65% |
For 2019, Cleveland Selfreliance Fcu's most frequently cited loan duration was 30 Year, with 22 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 25 | $3,745,000 | $149,800 |
Cleveland Selfreliance Fcu's average total fees were $2,185, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 25 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 25 | $3,745,000 | $149,800 |
During 2019, Cleveland Selfreliance Fcu's average interest rate for loans was 3.83%, while their most frequently originated rate bucket for loans was 3-4%, with 25 originations.
Loan Sizing
2019 saw Cleveland Selfreliance Fcu place emphasis on $100k-200k loans with 11 originations, totaling $1,505,000 in origination value.
Applicant Income
Cleveland Selfreliance Fcu lent most frequently to those with incomes in the $50k-75k range, with 9 originations. The second most popular income band? $50k or less, with 5 originations.
Applicant Debt to Income Ratio
Cleveland Selfreliance Fcu lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? <20%, with 7 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 24 | $3,660,000 | $152,500 | $2,170 | 3.81% |
| Not provided | 1 | $85,000 | $85,000 | $1,481 | 3.70% |
Approval Rates
Total approvals of all applications100.00%
Cleveland Selfreliance Fcu 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 | 25 | $3,745,000 | $149,800 |