Spc Credit Union Mortgage Rates, Fees & Info
Hartsville, SCLEI: 5493003CWPNX7EZ46462
Tax ID: 57-6020340
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Mortgage Data
Review & Overview
Spc Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Spc Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Florence, Myrtle Beach, Macon, Durham, and Charleston among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Spc 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. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/28/24 |
| 30 Year Conventional Refi | 6.27% | 4/28/24 |
| 30 Year Cash-out Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 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. | ||
Spc 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
47Origination Dollar Volume (All Markets)
$5,425,000Top 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 |
|---|---|---|---|---|---|
| FLORENCE, SC (FHA|USDA|VA) | 32 | $3,340,000 | $104,375 | $0 | 4.28% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 4.19% |
| Outside of Metro Areas | 5 | $345,000 | $69,000 | $0 | 4.83% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 4.50% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 4.63% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 4.00% |
| Bennettsville, SC (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 4.38% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 4.25% |
| SUMTER, SC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 4.88% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.38% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 47 | $5,425,000 | $115,426 | $0 | 4.36% |
For 2018, Spc Credit Union's most frequently originated type of loan was Conventional, with 47 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 27 | $3,355,000 | $124,259 | $0 | 4.36% |
| Refi | 20 | $2,070,000 | $103,500 | $0 | 4.37% |
For 2018, Spc Credit Union's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Refi, with 20 originations.
Loan Duration/Length
For 2018, Spc Credit Union's most frequently cited loan duration was 30 Year, with 16 originations. The 2nd most popular length was 20 Year, with 13 originations.
Origination Fees/Closing Costs
Spc Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 21 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 27 | $3,425,000 | $126,852 |
| 3-4% | 15 | $1,655,000 | $110,333 |
| 5-6% | 2 | $200,000 | $100,000 |
During 2018, Spc Credit Union's average interest rate for loans was 4.47%, while their most frequently originated rate bucket for loans was 4-5%, with 27 originations.
Loan Sizing
2018 saw Spc Credit Union place emphasis on $100,000 or less loans with 21 originations, totaling $1,265,000 in origination value.
Applicant Income
Spc Credit Union lent most frequently to those with incomes in the $75k-100k range, with 14 originations. The second most popular income band? $50k-75k, with 12 originations.
Applicant Debt to Income Ratio
Spc Credit Union lent most frequently to those with DTI ratios of <20%, with 15 originations. The next most common DTI ratio? 20-30%, with 15 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 33 | $3,975,000 | $120,455 | $0 | 4.32% |
| Black | 9 | $745,000 | $82,778 | $0 | 4.46% |
| Not provided | 5 | $705,000 | $141,000 | $0 | 4.57% |
Approval Rates
Total approvals of all applications82.30%
Spc Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination46.81%
Spc Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1060.0 | 1 | $165,000 | $165,000 |
| 1090.0 | 1 | $105,000 | $105,000 |
| 1137.6 | 1 | $135,000 | $135,000 |
| 1155.0 | 1 | $85,000 | $85,000 |
| 1172.0 | 1 | $185,000 | $185,000 |
| 1220.0 | 1 | $125,000 | $125,000 |
| 1382.5 | 1 | $65,000 | $65,000 |
| 1430.0 | 1 | $65,000 | $65,000 |
| 1570.0 | 1 | $105,000 | $105,000 |
| 1596.0 | 1 | $215,000 | $215,000 |
| 1645.33 | 1 | $155,000 | $155,000 |
| 1722.5 | 1 | $125,000 | $125,000 |
| 1862.0 | 1 | $55,000 | $55,000 |
| 1926.25 | 1 | $85,000 | $85,000 |
| 1980.4 | 1 | $125,000 | $125,000 |
| 2058.95 | 1 | $65,000 | $65,000 |
| 2214.53 | 1 | $205,000 | $205,000 |
| 2364.0 | 1 | $145,000 | $145,000 |
| 2490.0 | 1 | $285,000 | $285,000 |
| 3630.0 | 1 | $245,000 | $245,000 |
| 40.0 | 2 | $260,000 | $130,000 |
| 4989.9 | 1 | $205,000 | $205,000 |
| 5141.3 | 1 | $235,000 | $235,000 |
| 515.0 | 1 | $25,000 | $25,000 |
| 525.0 | 1 | $35,000 | $35,000 |
| 540.0 | 1 | $45,000 | $45,000 |
| 545.0 | 1 | $65,000 | $65,000 |
| 560.0 | 1 | $65,000 | $65,000 |
| 570.0 | 3 | $175,000 | $58,333 |
| 5798.5 | 1 | $315,000 | $315,000 |
| 580.34 | 1 | $45,000 | $45,000 |
| 615.4 | 1 | $85,000 | $85,000 |
| 670.0 | 1 | $105,000 | $105,000 |
| 730.0 | 1 | $115,000 | $115,000 |
| 740.0 | 1 | $105,000 | $105,000 |
| 758.5 | 1 | $115,000 | $115,000 |
| 790.0 | 1 | $85,000 | $85,000 |
| 840.0 | 2 | $270,000 | $135,000 |
| 848.5 | 1 | $75,000 | $75,000 |
| 967.0 | 1 | $115,000 | $115,000 |
| NA | 3 | $145,000 | $48,333 |