Rev Federal Credit Union Mortgage Rates, Fees & Info

Summerville, SC

LEI: 54930024QEEW6YDTWZ98

Tax ID: 57-0377963

5 stars - Updated: 4/5/25 - out of 5 stars, based on 14 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

    Rev Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Rev Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Charleston, Greensboro, Orangeburg, Hilton Head Island, and Myrtle Beach among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

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

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

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.59% 4/5/25
    30 Year Conventional Refi 6.37% 4/5/25
    30 Year Cash-out Refi 6.55% 4/5/25
    30 Year FHA Refi 6.72% 4/5/25
    30 Year VA Purchase 6.72% 4/5/25
    30 Year VA Refi 6.72% 4/5/25
    15 Year Conventional Purchase 6.65% 4/5/25
    15 Year Conventional Refi 6.00% 4/5/25
    15 Year Cash-out Refi 6.00% 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.

    Rev 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 Rev 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

    192

    Origination Dollar Volume (All Markets)

    $68,280,000

    Awards

    REV FEDERAL CREDIT UNION 30 Year Conventional Loans bronze
    Show all (1) awards

    Relative Rate

    Rev Federal Credit Union's average 30 year fixed mortgage rate was 6.46%.

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

    This yields a difference of -0.09%.

    Relative Fees (Closing Costs)

    Rev Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $7,634.

    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
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 152 $46,410,000 $305,329 $5,169 7.03%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $6,005,000 $6,005,000 $0 6.50%
    Orangeburg, SC (FHA|USDA|VA) 4 $3,540,000 $885,000 $6,950 6.72%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 5 $2,665,000 $533,000 $8,892 6.65%
    Outside of Metro Areas 7 $1,695,000 $242,143 $5,817 6.96%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 6 $1,430,000 $238,333 $4,500 6.83%
    WILMINGTON, NC (FHA|USDA|VA) 4 $970,000 $242,500 $4,799 7.22%
    COLUMBIA, SC (FHA|USDA|VA) 1 $955,000 $955,000 $14,791 6.13%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $910,000 $455,000 $9,566 6.31%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $905,000 $905,000 $10,309 6.38%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $765,000 $765,000 $16,626 5.75%
    Rockingham, NC (FHA|USDA|VA) 2 $480,000 $240,000 $7,426 6.19%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $395,000 $395,000 $8,448 6.49%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $345,000 $345,000 $9,023 5.38%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $275,000 $275,000 $6,419 6.63%
    Georgetown, SC (FHA|USDA|VA) 2 $270,000 $135,000 $1,360 8.00%
    BANGOR, ME (FHA|USDA|VA) 1 $265,000 $265,000 $12,145 5.88%
    Rev Federal Credit Union's top markets include Charleston, Greensboro, Orangeburg, Hilton Head Island, and Myrtle Beach among others.

    Their top states include:
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)

    • Similar Lenders

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

    Barley Mortgage, LLC
    Similarity Rank: 249
    SHELTER LENDING SERVICES, L.L.C.
    Similarity Rank: 1197
    VELOCIO MORTGAGE L.L.C.
    Similarity Rank: 1562
    REV FEDERAL CREDIT UNION
    Similarity Rank: 1717
    First Palmetto Bank
    Similarity Rank: 1760
    Charles Schwab Bank, SSB
    Similarity Rank: 2456
    Southern First Bank
    Similarity Rank: 2484
    PULTE MORTGAGE LLC
    Similarity Rank: 2952
    CAROLINA ONE MORTGAGE, LLC
    Similarity Rank: 2982
    SOUTH CAROLINA FEDERAL CREDIT UNION
    Similarity Rank: 3296

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 192 $68,280,000 $355,625 $5,555 6.97%

    For 2024, Rev Federal Credit Union's most frequently originated type of loan was Conventional, with 192 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 88 $34,370,000 $390,568 $7,349 6.68%
    Cash Out Refi 82 $21,790,000 $265,732 $2,459 7.42%
    Refi 22 $12,120,000 $550,909 $10,945 6.44%

    For 2024, Rev Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 88 originations. The 2nd most popular reason was Cash Out Refi, with 82 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 95 $34,025,000 $358,158 $7,634 6.46%
    15 Year 47 $4,925,000 $104,787 $1,450 7.63%
    Other 23 $5,485,000 $238,478 $1,599 8.12%
    30+ year 15 $11,405,000 $760,333 $13,246 6.41%
    3 Year 3 $3,445,000 $1,148,333 $0 7.17%
    5 Year 3 $6,555,000 $2,185,000 $0 7.00%
    10 Year 3 $195,000 $65,000 $877 6.75%
    1 Year 2 $1,880,000 $940,000 $0 7.25%
    20 Year 1 $365,000 $365,000 $6,143 5.63%

    For 2024, Rev Federal Credit Union's most frequently cited loan duration was 30 Year, with 95 originations. The 2nd most popular length was 15 Year, with 47 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 75 $11,445,000 $152,600
    $5k+ 47 $28,335,000 $602,872
    $4k-5k 24 $8,530,000 $355,417
    $3k-4k 23 $5,655,000 $245,870
    $2k-3k 12 $2,140,000 $178,333
    $1k-2k 3 $295,000 $98,333

    Rev Federal Credit Union's average total fees were $7,634, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 75 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 92 $47,060,000 $511,522
    7-8% 62 $10,910,000 $175,968
    5-6% 22 $7,550,000 $343,182
    Over 8% 16 $2,760,000 $172,500

    During 2024, Rev Federal Credit Union's average interest rate for loans was 6.46%, while their most frequently originated rate bucket for loans was 6-7%, with 92 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 64 $19,440,000 $303,750 $6,110 6.82%
    $100k-200k 40 $5,840,000 $146,000 $3,276 7.20%
    $100,000 or less 37 $2,235,000 $60,405 $1,145 7.57%
    $400k-600k 28 $13,150,000 $469,643 $8,948 6.49%
    $600k-1MM 16 $12,680,000 $792,500 $12,341 6.54%
    $1MM+ 7 $14,935,000 $2,133,571 $14,484 6.71%

    2024 saw Rev Federal Credit Union place emphasis on $200k-400k loans with 64 originations, totaling $19,440,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 49 $17,105,000 $349,082 $5,768 7.04%
    $100k-150k 47 $13,665,000 $290,745 $6,463 6.86%
    $250k+ 27 $14,855,000 $550,185 $7,021 7.23%
    $50k-75k 27 $4,625,000 $171,296 $3,972 6.76%
    $75k-100k 25 $5,335,000 $213,400 $4,618 6.98%
    $50k or less 9 $815,000 $90,556 $2,873 6.85%

    Rev Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 49 originations. The second most popular income band? $100k-150k, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 30 $7,600,000 $253,333 $5,241 6.69%
    30-36% 22 $5,740,000 $260,909 $5,171 7.24%
    46% 14 $5,090,000 $363,571 $5,389 6.94%
    48% 13 $3,425,000 $263,462 $5,600 7.40%
    41% 13 $3,965,000 $305,000 $6,073 6.84%
    42% 12 $3,920,000 $326,667 $3,921 7.20%
    40% 10 $2,900,000 $290,000 $6,771 6.66%
    39% 10 $2,240,000 $224,000 $3,762 7.08%
    50-60% 9 $4,735,000 $526,111 $6,393 6.90%
    43% 9 $3,315,000 $368,333 $7,680 6.76%
    47% 8 $4,260,000 $532,500 $6,416 6.83%
    49% 7 $2,245,000 $320,714 $6,814 6.89%
    36% 7 $1,645,000 $235,000 $4,654 6.98%
    44% 6 $1,170,000 $195,000 $3,330 7.48%
    38% 5 $1,225,000 $245,000 $7,322 6.73%
    <20% 4 $2,140,000 $535,000 $11,245 6.16%
    45% 4 $710,000 $177,500 $2,438 7.38%
    >60% 1 $75,000 $75,000 $1,247 7.75%

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

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 132 $42,380,000 $321,061 $5,635 6.94%
    Not applicable 8 $11,880,000 $1,485,000 $0 7.13%
    Not provided 36 $11,590,000 $321,944 $6,249 6.87%
    Black 13 $1,735,000 $133,462 $3,296 7.24%
    Asian 2 $640,000 $320,000 $5,167 7.19%
    American Indian 1 $55,000 $55,000 $337 8.75%

    Approval Rates

    Total approvals of all applications
    91.13%

    Rev Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.83%

    Rev Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 192 $68,280,000 $355,625

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    192 $68,280,000 $355,625

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $8,115,000 $261,774 $3,192 7.60%
    40-60% 19 $5,295,000 $278,684 $6,126 6.75%
    60-80% 48 $30,250,000 $630,208 $8,416 6.43%
    80-100% 51 $20,165,000 $395,392 $7,976 6.56%
    Under 20% 43 $4,455,000 $103,605 $1,266 7.70%