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 Refi and Home Purchase loans. Spc Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Florence, Charleston, Myrtle Beach, Columbia, and Atlanta among others. We have data for 14 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. Spc 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 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
144Origination Dollar Volume (All Markets)
$25,190,000Top 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) | 104 | $16,220,000 | $155,962 | $0 | 2.67% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 5 | $2,235,000 | $447,000 | $0 | 2.60% |
| Outside of Metro Areas | 13 | $1,895,000 | $145,769 | $1,634 | 2.64% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $1,085,000 | $217,000 | $0 | 2.50% |
| COLUMBIA, SC (FHA|USDA|VA) | 6 | $990,000 | $165,000 | $0 | 2.60% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $0 | 2.94% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 2.63% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 2.63% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 3.25% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 2.13% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 2.63% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 2.75% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 2.63% |
| Bennettsville, SC (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 2.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 144 | $25,190,000 | $174,931 | $1,634 | 2.66% |
For 2020, Spc Credit Union's most frequently originated type of loan was Conventional, with 144 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 102 | $18,420,000 | $180,588 | $1,634 | 2.56% |
| Home Purchase | 42 | $6,770,000 | $161,190 | $0 | 2.91% |
For 2020, Spc Credit Union's most frequently cited loan purpose was Refi, with 102 originations. The 2nd most popular reason was Home Purchase, with 42 originations.
Loan Duration/Length
For 2020, Spc Credit Union's most frequently cited loan duration was 30 Year, with 68 originations. The 2nd most popular length was 15 Year, with 53 originations.
Origination Fees/Closing Costs
Spc Credit Union's average total fees were $1,634, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 23 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 66 | $10,550,000 | $159,848 |
| 2.5-3% | 55 | $10,605,000 | $192,818 |
| 3-4% | 19 | $3,595,000 | $189,211 |
| 4-5% | 2 | $300,000 | $150,000 |
| 6-7% | 1 | $65,000 | $65,000 |
During 2020, Spc Credit Union's average interest rate for loans was 2.80%, while their most frequently originated rate bucket for loans was <2.5%, with 66 originations.
Loan Sizing
2020 saw Spc Credit Union place emphasis on $100k-200k loans with 66 originations, totaling $9,120,000 in origination value.
Applicant Income
Spc Credit Union lent most frequently to those with incomes in the $100k-150k range, with 35 originations. The second most popular income band? $50k-75k, with 29 originations.
Applicant Debt to Income Ratio
Spc Credit Union lent most frequently to those with DTI ratios of <20%, with 48 originations. The next most common DTI ratio? 20-30%, with 47 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.85%
Spc Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination83.33%
Spc Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1030.0 | 1 | $205,000 | $205,000 |
| 1030.75 | 1 | $75,000 | $75,000 |
| 1040.0 | 1 | $55,000 | $55,000 |
| 1045.0 | 1 | $145,000 | $145,000 |
| 1061.5 | 1 | $115,000 | $115,000 |
| 1181.0 | 1 | $155,000 | $155,000 |
| 1275.0 | 1 | $45,000 | $45,000 |
| 1350.0 | 1 | $125,000 | $125,000 |
| 1370.0 | 1 | $135,000 | $135,000 |
| 1395.0 | 1 | $135,000 | $135,000 |
| 1444.0 | 1 | $205,000 | $205,000 |
| 15.0 | 2 | $200,000 | $100,000 |
| 1525.0 | 1 | $145,000 | $145,000 |
| 1551.5 | 1 | $75,000 | $75,000 |
| 1610.0 | 1 | $195,000 | $195,000 |
| 1614.0 | 1 | $125,000 | $125,000 |
| 1619.0 | 1 | $225,000 | $225,000 |
| 1626.0 | 1 | $225,000 | $225,000 |
| 1670.0 | 1 | $275,000 | $275,000 |
| 1690.5 | 1 | $175,000 | $175,000 |
| 1710.0 | 1 | $285,000 | $285,000 |
| 1810.0 | 1 | $175,000 | $175,000 |
| 1860.0 | 1 | $305,000 | $305,000 |
| 1867.5 | 1 | $155,000 | $155,000 |
| 2023.8 | 1 | $135,000 | $135,000 |
| 2064.18 | 1 | $145,000 | $145,000 |
| 2155.2 | 1 | $345,000 | $345,000 |
| 2238.0 | 1 | $135,000 | $135,000 |
| 2260.0 | 1 | $125,000 | $125,000 |
| 2290.0 | 1 | $145,000 | $145,000 |
| 2366.25 | 1 | $105,000 | $105,000 |
| 2387.95 | 1 | $105,000 | $105,000 |
| 2457.0 | 1 | $405,000 | $405,000 |
| 2526.0 | 1 | $205,000 | $205,000 |
| 2530.0 | 1 | $515,000 | $515,000 |
| 254.05 | 1 | $85,000 | $85,000 |
| 2595.0 | 1 | $245,000 | $245,000 |
| 2650.0 | 1 | $105,000 | $105,000 |
| 2685.0 | 1 | $125,000 | $125,000 |
| 2910.0 | 1 | $185,000 | $185,000 |
| 2980.0 | 1 | $205,000 | $205,000 |
| 30.0 | 6 | $870,000 | $145,000 |
| 3207.3 | 1 | $225,000 | $225,000 |
| 3542.25 | 1 | $405,000 | $405,000 |
| 3701.0 | 1 | $195,000 | $195,000 |
| 3707.5 | 1 | $415,000 | $415,000 |
| 3755.0 | 1 | $295,000 | $295,000 |
| 3963.0 | 1 | $225,000 | $225,000 |
| 3980.0 | 1 | $645,000 | $645,000 |
| 4073.75 | 1 | $405,000 | $405,000 |
| 4230.0 | 1 | $245,000 | $245,000 |
| 4390.0 | 1 | $125,000 | $125,000 |
| 461.81 | 1 | $175,000 | $175,000 |
| 4826.65 | 1 | $205,000 | $205,000 |
| 4969.01 | 1 | $405,000 | $405,000 |
| 530.0 | 1 | $575,000 | $575,000 |
| 5320.0 | 1 | $205,000 | $205,000 |
| 5516.8 | 1 | $515,000 | $515,000 |
| 6287.0 | 1 | $395,000 | $395,000 |
| 6622.0 | 1 | $255,000 | $255,000 |
| 670.0 | 1 | $65,000 | $65,000 |
| 730.0 | 1 | $115,000 | $115,000 |
| 75.0 | 2 | $240,000 | $120,000 |
| 891.92 | 1 | $175,000 | $175,000 |
| 894.0 | 1 | $85,000 | $85,000 |
| 907.5 | 1 | $355,000 | $355,000 |
| 951.6 | 1 | $155,000 | $155,000 |
| NA | 70 | $9,950,000 | $142,143 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 3 | $165,000 | $55,000 |
| Single Family (1-4 Units):Site-Built | 141 | $25,025,000 | $177,482 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SIBCY CLINE MORTGAGE SERVICE | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |