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, Atlanta, Columbia, Bennettsville, 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% | 11/23/24 |
| 30 Year Conventional Refi | 6.27% | 11/23/24 |
| 30 Year Cash-out Refi | 6.27% | 11/23/24 |
| 15 Year Conventional Purchase | 5.68% | 11/23/24 |
| 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
71Origination Dollar Volume (All Markets)
$9,555,000Top 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) | 52 | $7,140,000 | $137,308 | $0 | 3.60% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 3.25% |
| Outside of Metro Areas | 5 | $565,000 | $113,000 | $0 | 3.58% |
| COLUMBIA, SC (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $0 | 3.38% |
| Bennettsville, SC (FHA|USDA|VA) | 5 | $265,000 | $53,000 | $0 | 4.13% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 3.25% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 3.38% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.25% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 2.88% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 71 | $9,555,000 | $134,577 | $0 | 3.60% |
For 2019, Spc Credit Union's most frequently originated type of loan was Conventional, with 71 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 42 | $5,110,000 | $121,667 | $0 | 3.70% |
| Refi | 29 | $4,445,000 | $153,276 | $0 | 3.48% |
For 2019, Spc Credit Union's most frequently cited loan purpose was Home Purchase, with 42 originations. The 2nd most popular reason was Refi, with 29 originations.
Loan Duration/Length
For 2019, Spc Credit Union's most frequently cited loan duration was 30 Year, with 33 originations. The 2nd most popular length was 15 Year, with 12 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 40 | $6,150,000 | $153,750 |
| 4-5% | 13 | $1,335,000 | $102,692 |
| 2.5-3% | 8 | $1,010,000 | $126,250 |
| 5-6% | 1 | $95,000 | $95,000 |
During 2019, Spc Credit Union's average interest rate for loans was 3.48%, while their most frequently originated rate bucket for loans was 3-4%, with 40 originations.
Loan Sizing
2019 saw Spc Credit Union place emphasis on $100k-200k loans with 31 originations, totaling $4,335,000 in origination value.
Applicant Income
Spc Credit Union lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $50k or less, with 15 originations.
Applicant Debt to Income Ratio
Spc Credit Union lent most frequently to those with DTI ratios of 20-30%, with 26 originations. The next most common DTI ratio? <20%, with 20 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.29%
Spc Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination56.34%
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 |
|---|---|---|---|
| NA | 71 | $9,555,000 | $134,577 |