Greenville Heritage Federal Credit Union Mortgage Rates, Fees & Info

Greenville, SC

LEI: 254900SYM73UN2V4KP10

Tax ID: 57-0314492

5 stars - Updated: 2/26/24 - out of 5 stars, based on 6 reviews

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

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Mortgage Data

Review & Overview

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

Greenville Heritage 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. Greenville Heritage 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 relatively high 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
30 Year Conventional Purchase 6.92% 2/26/24
30 Year Conventional Refi 6.01% 2/26/24
15 Year Conventional Purchase 5.68% 2/26/24
15 Year Conventional Refi 5.87% 2/26/24
15 Year Cash-out Refi 5.87% 2/26/24
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.

Greenville Heritage 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 Greenville Heritage 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

41

Origination Dollar Volume (All Markets)

$6,245,000

Awards

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

Relative Rate

Greenville Heritage Federal Credit Union's average 30 year fixed mortgage rate was 5.39%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.63%.

Relative Fees (Closing Costs)

Greenville Heritage Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,898.

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 $4,750.

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
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 40 $6,120,000 $153,000 $2,455 4.91%
SPARTANBURG, SC (FHA|USDA|VA) 1 $125,000 $125,000 $2,723 3.00%
Greenville Heritage Federal Credit Union's top markets include Greenville and Spartanburg among others.

Their top states include:
  • South Carolina (FHA|USDA|VA)
  • Similar Lenders

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

    S. C. STATE FEDERAL CREDIT UNION
    Similarity Rank: 361
    Coastal Carolina National Bank
    Similarity Rank: 1060
    American Security Mortgage Corp.
    Similarity Rank: 1848
    Arthur State Bank
    Similarity Rank: 1944
    First Palmetto Bank
    Similarity Rank: 1988
    Allen Tate Mortgage Partners, LLC
    Similarity Rank: 2322
    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 3192
    CAPITAL CENTER, L.L.C.
    Similarity Rank: 3224

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 41 $6,245,000 $152,317 $2,462 4.86%

    For 2022, Greenville Heritage Federal Credit Union's most frequently originated type of loan was Conventional, with 41 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 33 $4,575,000 $138,636 $2,357 4.52%
    Home Purchase 7 $1,615,000 $230,714 $3,233 6.16%
    Home Improvement 1 $55,000 $55,000 $1,970 6.98%

    For 2022, Greenville Heritage Federal Credit Union's most frequently cited loan purpose was Refi, with 33 originations. The 2nd most popular reason was Home Purchase, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 11 $685,000 $62,273 $2,074 5.59%
    30 Year 11 $2,445,000 $222,273 $2,898 5.39%
    20 Year 10 $1,970,000 $197,000 $2,543 4.34%
    15 Year 9 $1,145,000 $127,222 $2,366 3.90%

    For 2022, Greenville Heritage Federal Credit Union's most frequently cited loan duration was 10 Year, with 11 originations. The 2nd most popular length was 30 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 35 $4,805,000 $137,286
    $1k-2k 6 $1,440,000 $240,000

    Greenville Heritage Federal Credit Union's average total fees were $2,898, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 35 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 12 $2,170,000 $180,833
    3-4% 9 $1,585,000 $176,111
    6-7% 8 $820,000 $102,500
    2.5-3% 6 $1,110,000 $185,000
    4-5% 5 $535,000 $107,000
    Over 8% 1 $25,000 $25,000

    During 2022, Greenville Heritage Federal Credit Union's average interest rate for loans was 5.39%, while their most frequently originated rate bucket for loans was 5-6%, with 12 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 18 $2,610,000 $145,000 $2,517 4.58%
    $100,000 or less 13 $715,000 $55,000 $1,969 5.51%
    $200k-400k 9 $2,445,000 $271,667 $3,050 4.69%
    $400k-600k 1 $475,000 $475,000 $2,726 3.01%

    2022 saw Greenville Heritage Federal Credit Union place emphasis on $100k-200k loans with 18 originations, totaling $2,610,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 12 $1,470,000 $122,500 $2,243 4.58%
    $100k-150k 10 $1,670,000 $167,000 $2,708 5.48%
    $75k-100k 10 $1,430,000 $143,000 $2,501 4.82%
    $150k-250k 5 $905,000 $181,000 $2,469 4.76%
    $50k or less 3 $295,000 $98,333 $2,304 4.85%
    $250k+ 1 $475,000 $475,000 $2,726 3.01%

    Greenville Heritage Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 12 originations. The second most popular income band? $100k-150k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 12 $1,660,000 $138,333 $2,410 4.41%
    20-30% 11 $2,015,000 $183,182 $2,541 4.57%
    30-36% 8 $870,000 $108,750 $2,260 4.68%
    40% 3 $175,000 $58,333 $2,345 7.03%
    36% 2 $400,000 $200,000 $0 5.47%
    38% 2 $330,000 $165,000 $1,962 5.05%
    50-60% 1 $355,000 $355,000 $3,754 5.10%
    37% 1 $265,000 $265,000 $3,460 5.45%
    41% 1 $175,000 $175,000 $2,772 6.02%

    Greenville Heritage Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 12 originations. The next most common DTI ratio? 20-30%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 35 $5,455,000 $155,857 $2,480 4.87%
    Black 6 $790,000 $131,667 $2,343 4.83%

    Approval Rates

    Total approvals of all applications
    89.47%

    Greenville Heritage Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.61%

    Greenville Heritage Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 41 $6,245,000 $152,317

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    41 $6,245,000 $152,317

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $615,000 $87,857 $2,222 4.42%
    40-60% 11 $1,575,000 $143,182 $2,341 4.32%
    60-80% 15 $3,345,000 $223,000 $2,886 5.03%
    80-100% 2 $460,000 $230,000 $2,937 4.18%
    Under 20% 5 $195,000 $39,000 $1,962 6.02%