Secny Federal Credit Union Mortgage Rates, Fees & Info

Syracuse, NY

LEI: 254900RKU25JCJEP4R59

Tax ID: 23-7153176

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 Refi and Home Purchase loans. Secny Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Syracuse, Auburn, and Cortland among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Secny Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above 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 5.79% 4/28/24
    30 Year Conventional Refi 5.81% 4/28/24
    30 Year Cash-out Refi 5.65% 4/28/24
    15 Year Conventional Purchase 5.01% 4/28/24
    15 Year Conventional Refi 5.58% 4/28/24
    15 Year Cash-out Refi 5.58% 4/28/24
    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.

    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

    148

    Origination Dollar Volume (All Markets)

    $19,680,000

    Awards

    SECNY Federal Credit Union 30 Year Conventional Loans gold SECNY Federal Credit Union 30 Year Conventional Loans silver
    Show all (2) awards

    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) 143 $19,175,000 $134,091 $1,942 2.99%
    Auburn, NY (FHA|USDA|VA) 3 $385,000 $128,333 $2,392 3.50%
    Cortland, NY (FHA|USDA|VA) 2 $120,000 $60,000 $1,487 2.94%
    Secny Federal Credit Union's top markets include Syracuse, Auburn, and Cortland 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: 57
    COUNTRYSIDE Federal Credit Union
    Similarity Rank: 192
    Geddes Federal Savings and Loan Association
    Similarity Rank: 192
    THE SUMMIT Federal Credit Union
    Similarity Rank: 304
    Tompkins Trust Company
    Similarity Rank: 308
    VISIONS
    Similarity Rank: 364
    CCFCU FUNDING, LLC
    Similarity Rank: 504
    Pathfinder Bank
    Similarity Rank: 616
    SEFCU SERVICES, LLC
    Similarity Rank: 888
    COMMONFUND MORTGAGE CORP.
    Similarity Rank: 924

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 148 $19,680,000 $132,973 $1,945 3.00%

    For 2021, Secny Federal Credit Union's most frequently originated type of loan was Conventional, with 148 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 66 $8,730,000 $132,273 $1,663 2.83%
    Home Purchase 45 $6,565,000 $145,889 $2,869 3.02%
    Cash Out Refi 23 $3,625,000 $157,609 $1,744 2.71%
    Other 8 $510,000 $63,750 $677 4.16%
    Home Improvement 6 $250,000 $41,667 $579 4.25%

    For 2021, Secny Federal Credit Union's most frequently cited loan purpose was Refi, with 66 originations. The 2nd most popular reason was Home Purchase, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 55 $8,275,000 $150,455 $2,534 3.07%
    15 Year 44 $5,590,000 $127,045 $1,548 3.05%
    10 Year 19 $1,775,000 $93,421 $1,443 2.75%
    Other 15 $1,785,000 $119,000 $1,455 2.92%
    20 Year 13 $2,175,000 $167,308 $2,284 2.87%
    5 Year 2 $80,000 $40,000 $732 3.50%

    For 2021, Secny Federal Credit Union's most frequently cited loan duration was 30 Year, with 55 originations. The 2nd most popular length was 15 Year, with 44 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 148 $19,680,000 $132,973

    Secny Federal Credit Union's average total fees were $2,534, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 148 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 59 $9,175,000 $155,508
    <2.5% 48 $6,790,000 $141,458
    3-4% 30 $3,080,000 $102,667
    4-5% 11 $635,000 $57,727

    During 2021, Secny Federal Credit Union's average interest rate for loans was 3.07%, while their most frequently originated rate bucket for loans was 2.5-3%, with 59 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 70 $9,890,000 $141,286 $2,128 2.84%
    $100,000 or less 54 $3,360,000 $62,222 $1,451 3.28%
    $200k-400k 22 $5,420,000 $246,364 $2,550 2.80%
    $400k-600k 2 $1,010,000 $505,000 $2,249 2.63%

    2021 saw Secny Federal Credit Union place emphasis on $100k-200k loans with 70 originations, totaling $9,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 34 $3,690,000 $108,529 $1,900 3.13%
    $150k-250k 32 $5,260,000 $164,375 $1,945 2.83%
    $100k-150k 28 $4,150,000 $148,214 $1,993 2.89%
    $75k-100k 25 $3,225,000 $129,000 $2,027 3.15%
    $50k or less 24 $1,880,000 $78,333 $1,869 3.06%
    $250k+ 5 $1,475,000 $295,000 $1,948 2.65%

    Secny Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 34 originations. The second most popular income band? $150k-250k, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 43 $5,435,000 $126,395 $1,994 3.02%
    30-36% 34 $4,610,000 $135,588 $2,275 2.84%
    <20% 24 $3,590,000 $149,583 $1,724 2.83%
    40% 7 $755,000 $107,857 $1,629 3.43%
    38% 7 $855,000 $122,143 $1,553 3.20%
    42% 6 $460,000 $76,667 $1,044 3.63%
    36% 6 $620,000 $103,333 $1,983 3.08%
    37% 5 $1,145,000 $229,000 $2,479 2.80%
    39% 4 $540,000 $135,000 $2,081 3.19%
    41% 4 $560,000 $140,000 $1,432 2.94%
    44% 4 $560,000 $140,000 $1,959 2.88%
    43% 3 $305,000 $101,667 $1,674 3.17%
    45% 1 $245,000 $245,000 $3,699 3.00%

    Secny Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 43 originations. The next most common DTI ratio? 30-36%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 137 $18,085,000 $132,007 $1,940 3.00%
    Black 8 $790,000 $98,750 $2,141 2.88%
    Asian Indian 1 $465,000 $465,000 $2,095 2.38%
    Asian 1 $265,000 $265,000 $1,750 2.25%
    American Indian 1 $75,000 $75,000 $1,125 4.50%

    Approval Rates

    Total approvals of all applications
    90.48%

    Secny Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.30%

    Secny Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 148 $19,680,000 $132,973

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    148 $19,680,000 $132,973

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $1,095,000 $73,000 $1,123 3.47%
    40-60% 34 $4,030,000 $118,529 $1,752 2.80%
    60-80% 50 $8,560,000 $171,200 $2,141 2.76%
    80-100% 35 $5,195,000 $148,429 $2,593 3.06%
    Under 20% 10 $270,000 $27,000 $575 3.98%