Greenville Heritage Federal Credit Union Mortgage Rates, Fees & Info
Greenville, SCLEI: 254900SYM73UN2V4KP10
Tax ID: 57-0314492
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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 markets by origination volume include: Greenville, Spartanburg, and Greenwood among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)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% | 11/21/24 |
| 30 Year Conventional Refi | 6.01% | 11/21/24 |
| 15 Year Conventional Purchase | 5.68% | 11/21/24 |
| 15 Year Conventional Refi | 5.87% | 11/21/24 |
| 15 Year Cash-out Refi | 5.87% | 11/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
15Origination Dollar Volume (All Markets)
$2,285,000Relative Rate
Greenville Heritage Federal Credit Union's average 30 year fixed mortgage rate was
7.05%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.57%.
Relative Fees (Closing Costs)
Greenville Heritage Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,988.
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 $9,089.
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) | 13 | $2,045,000 | $157,308 | $2,514 | 7.26% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,598 | 6.66% |
| Greenwood, SC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,460 | 7.00% |
Their top states include:
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 15 | $2,285,000 | $152,333 | $2,516 | 7.20% |
For 2023, Greenville Heritage Federal Credit Union's most frequently originated type of loan was Conventional, with 15 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 12 | $1,430,000 | $119,167 | $2,299 | 7.30% |
| Home Purchase | 3 | $855,000 | $285,000 | $3,384 | 6.80% |
For 2023, Greenville Heritage Federal Credit Union's most frequently cited loan purpose was Refi, with 12 originations. The 2nd most popular reason was Home Purchase, with 3 originations.
Loan Duration/Length
For 2023, Greenville Heritage Federal Credit Union's most frequently cited loan duration was 30 Year, with 7 originations. The 2nd most popular length was 10 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 12 | $1,430,000 | $119,167 |
| $1k-2k | 3 | $855,000 | $285,000 |
Greenville Heritage Federal Credit Union's average total fees were $2,988, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 12 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 8 | $1,690,000 | $211,250 |
| 7-8% | 6 | $520,000 | $86,667 |
| Over 8% | 1 | $75,000 | $75,000 |
During 2023, Greenville Heritage Federal Credit Union's average interest rate for loans was 7.05%, while their most frequently originated rate bucket for loans was 6-7%, with 8 originations.
Loan Sizing
2023 saw Greenville Heritage Federal Credit Union place emphasis on $100,000 or less loans with 7 originations, totaling $445,000 in origination value.
Applicant Income
Greenville Heritage Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $50k-75k, with 3 originations.
Applicant Debt to Income Ratio
Greenville Heritage Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 8 originations. The next most common DTI ratio? <20%, with 4 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 15 | $2,285,000 | $152,333 | $2,516 | 7.20% |
Approval Rates
Total approvals of all applications89.47%
Greenville Heritage Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination86.67%
Greenville Heritage Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 15 | $2,285,000 | $152,333 |