Service Federal Credit Union Mortgage Rates, Fees & Info

Portsmouth, NH

LEI: 254900P7WLDQD9IUL038

Tax ID: 02-0240752

5 stars - out of 5 stars, based on 37 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Service Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Service Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Boston, Lebanon, Manchester, Keene, and Portland among others. Service 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. Service Federal Credit Union is typically an average fee lendor.


Originations

1,375

Origination Dollar Volume (All Markets)

$360,005,000
Show all (8) awards

Relative Rate

Service Federal Credit Union's average 30 year fixed rate mortgage of loans were 3%.

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

This yields a difference of -0.15%.

Relative Fees

Service Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $3,574.

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
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 513 $160,635,000 $313,129 $3,044 2.88%
Lebanon, NH-VT (FHA|USDA|VA) 122 $37,840,000 $310,164 $2,920 2.96%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 143 $37,165,000 $259,895 $2,939 2.99%
Keene, NH (FHA|USDA|VA) 117 $18,625,000 $159,188 $2,774 2.84%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 67 $15,105,000 $225,448 $3,002 2.92%
Concord, NH (FHA|USDA|VA) 73 $14,635,000 $200,479 $2,767 2.95%
Outside of Metro Areas 49 $10,215,000 $208,469 $2,903 3.06%
Laconia, NH (FHA|USDA|VA) 49 $9,275,000 $189,286 $3,062 3.02%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 40 $8,570,000 $214,250 $2,745 2.90%
Berlin, NH (FHA|USDA|VA) 29 $4,185,000 $144,310 $2,816 3.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 5 $2,615,000 $523,000 $2,468 3.60%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 8 $2,050,000 $256,250 $4,770 3.05%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 6 $1,790,000 $298,333 $2,153 3.60%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $1,675,000 $558,333 $3,718 2.63%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 5 $1,565,000 $313,000 $4,839 3.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $1,405,000 $468,333 $4,177 2.63%
ST. LOUIS, MO-IL (FHA|USDA|VA) 5 $1,395,000 $279,000 $2,443 2.70%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $1,050,000 $262,500 $2,479 3.28%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $885,000 $295,000 $10,220 3.63%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $840,000 $210,000 $2,592 2.63%
FAYETTEVILLE, NC (FHA|USDA|VA) 4 $820,000 $205,000 $5,814 3.44%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 4 $810,000 $202,500 $4,042 2.50%
HUNTSVILLE, AL (FHA|USDA|VA) 2 $800,000 $400,000 $2,734 2.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $770,000 $385,000 $3,958 2.38%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 3 $765,000 $255,000 $5,136 3.04%
DAYTON-KETTERING, OH (FHA|USDA|VA) 3 $745,000 $248,333 $8,680 2.83%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 2 $740,000 $370,000 $3,694 3.06%
SPRINGFIELD, MA (FHA|USDA|VA) 4 $730,000 $182,500 $2,362 2.53%
COLUMBUS, IN (FHA|USDA|VA) 3 $725,000 $241,667 $788 3.17%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $660,000 $330,000 $2,493 2.81%
TUCSON, AZ (FHA|USDA|VA) 3 $655,000 $218,333 $2,808 2.92%
VISALIA, CA (FHA|USDA|VA) 1 $625,000 $625,000 $6,190 3.50%
RICHMOND, VA (FHA|USDA|VA) 1 $585,000 $585,000 $5,202 2.25%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $580,000 $290,000 $11,083 2.81%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $570,000 $285,000 $7,412 2.44%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 2 $560,000 $280,000 $5,116 2.56%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $545,000 $545,000 $2,235 2.88%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $535,000 $535,000 $2,580 2.38%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $520,000 $260,000 $2,086 2.50%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $490,000 $245,000 $2,331 3.06%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $490,000 $245,000 $2,843 2.50%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $465,000 $465,000 $13,056 2.75%
Augusta-Waterville, ME (FHA|USDA|VA) 1 $455,000 $455,000 $4,089 3.38%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $430,000 $215,000 $3,491 3.06%
PANAMA CITY, FL (FHA|USDA|VA) 1 $425,000 $425,000 $4,057 2.88%
OCALA, FL (FHA|USDA|VA) 2 $410,000 $205,000 $4,058 3.25%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $410,000 $205,000 $2,654 3.06%
VALDOSTA, GA (FHA|USDA|VA) 2 $400,000 $200,000 $3,907 2.44%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $395,000 $395,000 $3,051 3.25%
Paris, TN (FHA|USDA|VA) 1 $365,000 $365,000 $3,004 3.00%
COLUMBIA, SC (FHA|USDA|VA) 3 $355,000 $118,333 $2,704 2.29%
WALLA WALLA, WA (FHA|USDA|VA) 1 $355,000 $355,000 $3,316 2.75%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $345,000 $345,000 $2,625 2.75%
BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 1 $305,000 $305,000 $11,813 2.75%
GRAND FORKS, ND-MN (FHA|USDA|VA) 1 $305,000 $305,000 $8,315 2.75%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $295,000 $295,000 $1,522 2.88%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $295,000 $295,000 $9,721 2.63%
WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $285,000 $285,000 $3,665 2.88%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 2 $280,000 $140,000 $2,524 3.13%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $275,000 $275,000 $4,235 3.25%
Wilson, NC (FHA|USDA|VA) 1 $265,000 $265,000 $5,609 2.13%
RAPID CITY, SD (FHA|USDA|VA) 1 $255,000 $255,000 $2,525 2.63%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $245,000 $245,000 $4,162 3.75%
GAINESVILLE, FL (FHA|USDA|VA) 1 $245,000 $245,000 $6,135 3.13%
Columbus, NE (FHA|USDA|VA) 1 $245,000 $245,000 $2,021 3.25%
Sevierville, TN (FHA|USDA|VA) 1 $235,000 $235,000 $9,141 2.75%
New Castle, PA (FHA|USDA|VA) 1 $235,000 $235,000 $4,204 3.25%
Klamath Falls, OR (FHA|USDA|VA) 1 $235,000 $235,000 $8,316 2.63%
Tifton, GA (FHA|USDA|VA) 1 $225,000 $225,000 $726 2.88%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $225,000 $225,000 $3,146 2.63%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $215,000 $215,000 $6,695 2.63%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $205,000 $205,000 $4,176 2.88%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $205,000 $205,000 $4,131 3.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $205,000 $205,000 $3,322 2.63%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,598 2.88%
BANGOR, ME (FHA|USDA|VA) 2 $200,000 $100,000 $2,192 2.88%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $185,000 $185,000 $3,550 3.25%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $185,000 $185,000 $2,539 2.75%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $185,000 $185,000 $3,443 3.63%
MONTGOMERY, AL (FHA|USDA|VA) 1 $185,000 $185,000 $5,179 2.88%
WICHITA, KS (FHA|USDA|VA) 1 $185,000 $185,000 $8,897 2.88%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $180,000 $90,000 $842 3.88%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $175,000 $175,000 $2,497 2.50%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $175,000 $175,000 $1,914 2.75%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $175,000 $175,000 $1,903 2.50%
LAS CRUCES, NM (FHA|USDA|VA) 1 $155,000 $155,000 $3,117 3.38%
COLUMBUS, OH (FHA|USDA|VA) 1 $155,000 $155,000 $495 5.13%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $155,000 $155,000 $2,399 2.63%
Barre, VT (FHA|USDA|VA) 1 $145,000 $145,000 $2,993 3.13%
Moberly, MO (FHA|USDA|VA) 1 $145,000 $145,000 $2,510 3.00%
PITTSBURGH, PA (FHA|USDA|VA) 1 $145,000 $145,000 $3,160 2.88%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $145,000 $145,000 $3,967 3.13%
FOND DU LAC, WI (FHA|USDA|VA) 1 $145,000 $145,000 $0 3.00%
Enterprise, AL (FHA|USDA|VA) 1 $145,000 $145,000 $0 2.63%
Bennington, VT (FHA|USDA|VA) 1 $135,000 $135,000 $2,473 2.50%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $115,000 $115,000 $3,217 3.00%
ENID, OK (FHA|USDA|VA) 1 $105,000 $105,000 $2,298 3.00%
MOBILE, AL (FHA|USDA|VA) 1 $105,000 $105,000 $2,236 2.88%
SUMTER, SC (FHA|USDA|VA) 1 $95,000 $95,000 $2,062 2.75%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $85,000 $85,000 $786 5.13%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $75,000 $75,000 $1,950 3.25%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $75,000 $75,000 $785 5.13%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $75,000 $75,000 $2,563 3.38%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $75,000 $75,000 $1,986 3.13%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $65,000 $65,000 $2,628 2.50%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $55,000 $55,000 $665 4.88%
LAWTON, OK (FHA|USDA|VA) 1 $55,000 $55,000 $2,673 2.38%
HAMMOND, LA (FHA|USDA|VA) 1 $55,000 $55,000 $2,665 2.25%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $55,000 $55,000 $1,641 3.38%
Richmond, IN (FHA|USDA|VA) 1 $45,000 $45,000 $2,256 2.63%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $35,000 $35,000 $461 5.13%

Service Federal Credit Union's top markets include Boston, Lebanon, Manchester, Keene, and Portland among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,263 $328,325,000 $259,956 $2,856 2.95%
VA 104 $30,260,000 $290,962 $5,314 2.72%
USDA 8 $1,420,000 $177,500 $4,472 2.98%

For the 2021 period, Service Federal Credit Union's most frequently originated loan type of loans were Conventional, with 1,263 originations. Their 2nd most popular type is VA, with 104 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 394 $97,080,000 $246,396 $3,380 2.89%
Home Purchase 362 $113,620,000 $313,867 $3,746 3.07%
Refi 360 $75,910,000 $210,861 $2,648 2.59%
Other 130 $48,620,000 $374,000 $2,417 2.91%
Home Improvement 129 $24,775,000 $192,054 $2,170 3.64%

For the 2021, Service Federal Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 394 originations. The 2nd most popular reason of loans were Home Purchase, with 362 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 656 $173,280,000 $264,146 $3,574 3.00%
15 Year 438 $84,500,000 $192,922 $2,505 2.74%
20 Year 139 $31,965,000 $229,964 $2,912 2.83%
10 Year 107 $17,005,000 $158,925 $1,929 3.14%
5 Year 15 $27,755,000 $1,850,333 $608 4.18%
30+ year 10 $3,120,000 $312,000 $7,413 3.31%
Other 7 $22,285,000 $3,183,571 $9,411 3.55%
3 Year 3 $95,000 $31,667 $548 3.88%

For the 2021, Service Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 656 originations. The 2nd most popular length of loans were 15 Year, with 438 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 986 $207,460,000 $210,406
$1k-2k 196 $45,780,000 $233,571
$3k-4k 61 $17,955,000 $294,344
$2k-3k 54 $14,240,000 $263,704
$5k+ 23 $8,075,000 $351,087

$3,574 of loans were Service Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 986 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 534 $131,100,000 $245,506
<2.5% 414 $82,250,000 $198,671
3-4% 348 $117,320,000 $337,126
5-6% 40 $2,230,000 $55,750
4-5% 39 $27,105,000 $695,000

During 2021, Service Federal Credit Union's average interest rate of loans were 3.00%, while their most frequently originated rate bucket of loans were 2.5-3%, with 534 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 606 $165,900,000 $273,762 $3,514 2.88%
$100k-200k 449 $68,695,000 $152,996 $2,622 2.75%
$100,000 or less 191 $12,105,000 $63,377 $1,585 3.48%
$400k-600k 102 $47,600,000 $466,667 $5,050 2.89%
$600k-1MM 19 $13,525,000 $711,842 $4,541 3.18%
$1MM+ 8 $52,180,000 $6,522,500 $4,942 3.61%

2021 saw Service Federal Credit Union place emphasis on $200k-400k loans with 606 originations, totaling $165,900,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 383 $88,535,000 $231,162 $3,185 2.89%
$75k-100k 287 $59,705,000 $208,031 $3,133 2.92%
$50k-75k 283 $47,985,000 $169,558 $2,742 2.92%
$150k-250k 217 $63,875,000 $294,355 $3,287 2.85%
$50k or less 103 $13,315,000 $129,272 $2,513 2.89%
$250k+ 48 $20,300,000 $422,917 $3,631 2.92%

Service Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 383 originations. The second most popular income band? $75k-100k, with 287 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 363 $81,585,000 $224,752 $3,039 2.80%
30-36% 268 $58,170,000 $217,052 $2,926 2.88%
<20% 131 $26,425,000 $201,718 $2,684 2.67%
40% 54 $11,960,000 $221,481 $3,294 3.04%
36% 54 $13,110,000 $242,778 $3,377 2.94%
42% 51 $11,145,000 $218,529 $3,056 3.11%
38% 50 $10,310,000 $206,200 $3,037 3.06%
41% 50 $10,670,000 $213,400 $2,628 2.99%
37% 48 $10,510,000 $218,958 $3,049 3.01%
39% 46 $12,180,000 $264,783 $3,736 2.88%
44% 46 $9,700,000 $210,870 $3,456 3.16%
43% 43 $9,605,000 $223,372 $3,091 3.13%
45% 25 $4,895,000 $195,800 $2,958 3.02%
46% 24 $6,400,000 $266,667 $3,373 2.96%
49% 22 $4,050,000 $184,091 $4,021 2.77%
48% 20 $5,240,000 $262,000 $3,443 3.11%
47% 17 $4,955,000 $291,471 $2,936 2.98%
50-60% 4 $1,020,000 $255,000 $4,673 3.59%
>60% 1 $285,000 $285,000 $2,401 2.50%

Service Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 363 originations. The next most common DTI ratio? 30-36%, with 268 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,089 $237,855,000 $218,416 $3,054 2.90%
Not applicable 55 $66,495,000 $1,209,000 $0 3.78%
Not provided 169 $39,135,000 $231,568 $3,130 2.83%
Asian 21 $6,375,000 $303,571 $2,707 2.83%
Black 24 $5,480,000 $228,333 $3,241 3.14%
American Indian 6 $1,390,000 $231,667 $2,681 3.23%
Japanese 1 $765,000 $765,000 $4,106 3.00%
Asian Indian 3 $765,000 $255,000 $2,369 2.21%
Other Asian 3 $585,000 $195,000 $2,725 2.79%
Native Hawaiian 2 $480,000 $240,000 $2,597 2.94%
Chinese 1 $355,000 $355,000 $3,936 3.13%
Filipino 1 $325,000 $325,000 $3,858 3.13%

Approval Rates

Total approvals of all applications
79.73%

Service Federal Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
80.19%

Service Federal Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,375 $360,005,000 $261,822

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,375 $360,005,000 $261,822

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 185 $49,995,000 $270,243 $2,326 2.68%
40-60% 320 $68,600,000 $214,375 $2,831 2.65%
60-80% 506 $157,470,000 $311,206 $3,277 2.94%
80-100% 253 $71,195,000 $281,403 $3,846 2.98%
Over 100% 12 $3,850,000 $320,833 $10,835 2.79%
Under 20% 95 $5,115,000 $53,842 $1,080 4.19%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
SERVICEMAC, LLC FHA mortgage Trouble during payment process 4 14.8%
SERVICEMAC, LLC VA mortgage Trouble during payment process 4 14.8%
SERVICEMAC, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
SERVICEMAC, LLC Conventional home mortgage Closing on a mortgage 2 7.4%
SERVICEMAC, LLC Conventional home mortgage Struggling to pay mortgage 2 7.4%
SERVICEMAC, LLC Conventional home mortgage Trouble during payment process 14 51.9%