Secny Federal Credit Union Mortgage Rates, Fees & Info

Syracuse, NY

LEI: 254900RKU25JCJEP4R59

Tax ID: 23-7153176

5 stars - Updated: 4/5/25 - out of 5 stars, based on 10 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Secny Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Secny Federal Credit Union has a high proportion of conventional loans. Their top two markets are Syracuse and Auburn .

    Secny Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Secny 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.47% 4/5/25
    30 Year Conventional Refi 6.37% 4/5/25
    30 Year Cash-out Refi 6.26% 4/5/25
    15 Year Conventional Purchase 6.01% 4/5/25
    15 Year Conventional Refi 6.71% 4/5/25
    15 Year Cash-out Refi 6.71% 4/5/25
    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.

    Secny Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Secny Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    92

    Origination Dollar Volume (All Markets)

    $11,140,000

    Awards

    SECNY Federal Credit Union 30 Year Conventional Loans gold SECNY Federal Credit Union 30 Year Conventional Loans silver SECNY Federal Credit Union 30 Year Conventional Loans bronze SECNY Federal Credit Union 30 Year Conventional Loans bronze
    Show all (4) awards

    Relative Rate

    Secny Federal Credit Union's average 30 year fixed mortgage rate was 6.45%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.1%.

    Relative Fees (Closing Costs)

    Secny Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,338.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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
    SYRACUSE, NY (FHA|USDA|VA) 87 $10,585,000 $121,667 $1,471 6.49%
    Auburn, NY (FHA|USDA|VA) 5 $555,000 $111,000 $1,814 6.45%
    Secny Federal Credit Union's top markets include Syracuse and Auburn among others.

    Their top states include:
  • New York (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SECNY Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SECNY Federal Credit Union
    Similarity Rank: 20
    Solvay Bank
    Similarity Rank: 26
    Geddes Federal Savings and Loan Association
    Similarity Rank: 120
    SEFCU SERVICES, LLC
    Similarity Rank: 270
    NBT Bank
    Similarity Rank: 460
    AMERICU Credit Union
    Similarity Rank: 529
    The Lyons National Bank
    Similarity Rank: 738
    NORTHERN CREDIT UNION
    Similarity Rank: 748
    Empower Federal Credit Union
    Similarity Rank: 756
    Tompkins Trust Company
    Similarity Rank: 780

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 92 $11,140,000 $121,087 $1,490 6.49%

    For 2024, Secny Federal Credit Union's most frequently originated type of loan was Conventional, with 92 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 35 $1,985,000 $56,714 $636 6.51%
    Home Purchase 28 $5,480,000 $195,714 $3,120 6.40%
    Refi 25 $2,915,000 $116,600 $844 6.56%
    Other 2 $190,000 $95,000 $698 6.88%
    Cash Out Refi 2 $570,000 $285,000 $2,465 6.13%

    For 2024, Secny Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 35 originations. The 2nd most popular reason was Home Purchase, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 32 $3,000,000 $93,750 $981 6.77%
    30 Year 21 $4,455,000 $212,143 $3,338 6.45%
    10 Year 17 $1,075,000 $63,235 $729 6.29%
    Other 11 $985,000 $89,545 $754 6.68%
    5 Year 7 $585,000 $83,571 $672 5.75%
    20 Year 4 $1,040,000 $260,000 $2,544 6.06%

    For 2024, Secny Federal Credit Union's most frequently cited loan duration was 15 Year, with 32 originations. The 2nd most popular length was 30 Year, with 21 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 92 $11,140,000 $121,087

    Secny Federal Credit Union's average total fees were $3,338, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 92 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 69 $8,475,000 $122,826
    5-6% 16 $2,250,000 $140,625
    7-8% 7 $415,000 $59,286

    During 2024, Secny Federal Credit Union's average interest rate for loans was 6.45%, while their most frequently originated rate bucket for loans was 6-7%, with 69 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 49 $2,575,000 $52,551 $680 6.56%
    $200k-400k 22 $5,350,000 $243,182 $2,898 6.39%
    $100k-200k 21 $3,215,000 $153,095 $1,904 6.44%

    2024 saw Secny Federal Credit Union place emphasis on $100,000 or less loans with 49 originations, totaling $2,575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 27 $3,305,000 $122,407 $1,699 6.52%
    $150k-250k 24 $2,920,000 $121,667 $1,473 6.35%
    $50k-75k 16 $1,170,000 $73,125 $1,303 6.49%
    $75k-100k 15 $2,215,000 $147,667 $1,768 6.68%
    $250k+ 6 $1,360,000 $226,667 $1,166 6.13%
    $50k or less 4 $170,000 $42,500 $364 6.94%

    Secny Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 27 originations. The second most popular income band? $150k-250k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 22 $1,890,000 $85,909 $1,356 6.36%
    30-36% 20 $2,640,000 $132,000 $1,576 6.40%
    36% 8 $880,000 $110,000 $1,540 6.58%
    <20% 7 $1,255,000 $179,286 $2,055 6.25%
    39% 7 $1,345,000 $192,143 $2,088 6.59%
    38% 6 $730,000 $121,667 $1,578 6.69%
    40% 4 $780,000 $195,000 $925 6.81%
    41% 4 $200,000 $50,000 $684 6.81%
    42% 4 $360,000 $90,000 $1,394 6.53%
    37% 4 $350,000 $87,500 $657 6.31%
    43% 2 $220,000 $110,000 $1,403 6.50%
    44% 2 $260,000 $130,000 $1,994 7.06%
    45% 2 $230,000 $115,000 $1,743 6.81%

    Secny Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? 30-36%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 85 $10,125,000 $119,118 $1,511 6.49%
    Not provided 3 $675,000 $225,000 $2,060 5.88%
    Black 3 $295,000 $98,333 $579 7.00%
    Asian 1 $45,000 $45,000 $669 6.75%

    Approval Rates

    Total approvals of all applications
    87.93%

    Secny Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.22%

    Secny Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 92 $11,140,000 $121,087

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    92 $11,140,000 $121,087

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $1,925,000 $77,000 $719 6.66%
    40-60% 10 $1,630,000 $163,000 $1,711 6.25%
    60-80% 16 $3,270,000 $204,375 $2,739 6.43%
    80-100% 14 $3,090,000 $220,714 $2,999 6.51%
    Under 20% 27 $1,225,000 $45,370 $598 6.45%