Service Federal Credit Union Mortgage Rates, Fees & Info
Portsmouth, NHLEI: 254900P7WLDQD9IUL038
Tax ID: 02-0240752
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Mortgage Data
Review & Overview
Service Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Service Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Boston, Manchester, Lebanon, Keene, and Barnstable Town among others. We have data for 54 markets. (Some data included below & more in-depth data is available with an active subscription.)Service Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Service Federal Credit Union is typically an average 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 3.72% | 12/17/24 |
| 30 Year Conventional Purchase | 6.41% | 12/17/24 |
| 30 Year Conventional Refi | 6.46% | 12/17/24 |
| 30 Year Cash-out Refi | 6.62% | 12/17/24 |
| 30 Year VA Purchase | 5.80% | 12/17/24 |
| 30 Year USDA Purchase | 6.26% | 12/17/24 |
| 15 Year Conventional Purchase | 5.89% | 12/17/24 |
| 15 Year Conventional Refi | 5.71% | 12/17/24 |
| 15 Year Cash-out Refi | 5.71% | 12/17/24 |
| 15 Year VA Purchase | 5.55% | 12/17/24 |
| 15 Year VA Refi | 5.58% | 12/17/24 |
| 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. | ||
Service Federal Credit Union Mortgage Calculator
Your Estimates
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This is not an official calculator from Service Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
726Origination Dollar Volume (All Markets)
$142,430,000Awards
Service Federal Credit Union - 2018
Service Federal Credit Union is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 296 | $63,560,000 | $214,730 | $5,001 | 4.34% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 82 | $16,660,000 | $203,171 | $4,377 | 4.47% |
| Lebanon, NH-VT (FHA|USDA|VA) | 59 | $9,465,000 | $160,424 | $4,397 | 4.25% |
| Keene, NH (FHA|USDA|VA) | 68 | $8,630,000 | $126,912 | $4,457 | 4.26% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 37 | $8,115,000 | $219,324 | $4,749 | 4.32% |
| Concord, NH (FHA|USDA|VA) | 42 | $7,690,000 | $183,095 | $5,333 | 4.39% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 36 | $6,900,000 | $191,667 | $3,734 | 4.44% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $6,005,000 | $6,005,000 | $0 | 5.00% |
| Outside of Metro Areas | 24 | $3,540,000 | $147,500 | $4,693 | 4.35% |
| Laconia, NH (FHA|USDA|VA) | 13 | $1,805,000 | $138,846 | $4,037 | 4.30% |
| Berlin, NH (FHA|USDA|VA) | 16 | $1,730,000 | $108,125 | $3,434 | 4.21% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $905,000 | $181,000 | $5,807 | 4.57% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $2,702 | 4.94% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $10,471 | 4.25% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $6,753 | 4.31% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $8,366 | 4.25% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $8,145 | 4.81% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $7,233 | 4.31% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $15,370 | 4.63% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,005 | 4.88% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $10,879 | 4.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $14,579 | 4.88% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $8,509 | 4.50% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,086 | 3.63% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,115 | 3.38% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,765 | 4.50% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $10,107 | 3.75% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,736 | 3.75% |
| Enterprise, AL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,666 | 4.50% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $8,752 | 4.50% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,410 | 4.50% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,074 | 4.50% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $8,614 | 4.13% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,383 | 4.63% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,234 | 4.50% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,631 | 4.25% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,277 | 4.75% |
| LAWTON, OK (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,786 | 4.63% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,012 | 4.88% |
| OCALA, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,672 | 4.00% |
| Barre, VT (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,894 | 4.25% |
| Bartlesville, OK (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $10,238 | 4.38% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,238 | 4.50% |
| Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,220 | 5.38% |
| Arkadelphia, AR (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $5,709 | 3.25% |
| SYRACUSE, NY (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $8,518 | 4.50% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $4,979 | 4.75% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,092 | 5.38% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,836 | 5.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $1,015 | 4.49% |
| Taylorville, IL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $1,060 | 5.24% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $1,104 | 4.74% |
| BANGOR, ME (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $690 | 4.24% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $841 | 4.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against Service Federal Credit Union 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 | 680 | $133,260,000 | $195,971 | $4,601 | 4.35% |
| VA | 41 | $8,535,000 | $208,171 | $7,678 | 4.41% |
| USDA | 5 | $635,000 | $127,000 | $6,101 | 4.43% |
For 2018, Service Federal Credit Union's most frequently originated type of loan was Conventional, with 680 originations. Their 2nd most popular type was VA, with 41 originations.
Loan Reason
For 2018, Service Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 357 originations. The 2nd most popular reason was Cash Out Refi, with 130 originations.
Loan Duration/Length
For 2018, Service Federal Credit Union's most frequently cited loan duration was 30 Year, with 387 originations. The 2nd most popular length was 15 Year, with 155 originations.
Origination Fees/Closing Costs
Service Federal Credit Union's average total fees were $6,136, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 604 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 475 | $100,985,000 | $212,600 |
| 3-4% | 183 | $32,825,000 | $179,372 |
| 5-6% | 53 | $6,265,000 | $118,208 |
| 2.5-3% | 12 | $2,240,000 | $186,667 |
| 6-7% | 3 | $115,000 | $38,333 |
During 2018, Service Federal Credit Union's average interest rate for loans was 4.41%, while their most frequently originated rate bucket for loans was 4-5%, with 475 originations.
Loan Sizing
2018 saw Service Federal Credit Union place emphasis on $200k-400k loans with 262 originations, totaling $70,870,000 in origination value.
Applicant Income
Service Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 187 originations. The second most popular income band? $75k-100k, with 166 originations.
Applicant Debt to Income Ratio
Service Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 157 originations. The next most common DTI ratio? 30-36%, with 145 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications74.51%
Service Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination81.82%
Service Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 726 | $142,430,000 | $196,185 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 9 | $12,495,000 | $1,388,333 |
| Single Family (1-4 Units):Site-Built | 717 | $129,935,000 | $181,220 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Service Finance Holdings, LLC | Other type of mortgage | Trouble during payment process | 1 | 100.0% |