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 Cash Out Refi loans. Spc Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Florence, Bennettsville, and Charleston among others. We have data for 4 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
49Origination Dollar Volume (All Markets)
$7,425,000Top 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) | 39 | $6,125,000 | $157,051 | $0 | 4.17% |
| Outside of Metro Areas | 4 | $690,000 | $172,500 | $0 | 5.53% |
| Bennettsville, SC (FHA|USDA|VA) | 5 | $385,000 | $77,000 | $0 | 4.23% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 5.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 49 | $7,425,000 | $151,531 | $0 | 4.31% |
For 2022, Spc Credit Union's most frequently originated type of loan was Conventional, with 49 originations.
Loan Reason
For 2022, Spc Credit Union's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Cash Out Refi, with 18 originations.
Loan Duration/Length
For 2022, Spc Credit Union's most frequently cited loan duration was 30 Year, with 24 originations. The 2nd most popular length was Other, with 10 originations.
Interest Rates
During 2022, Spc Credit Union's average interest rate for loans was 4.37%, while their most frequently originated rate bucket for loans was 4-5%, with 17 originations.
Loan Sizing
2022 saw Spc Credit Union place emphasis on $100,000 or less loans with 20 originations, totaling $1,410,000 in origination value.
Applicant Income
Spc Credit Union lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $75k-100k, with 12 originations.
Applicant Debt to Income Ratio
Spc Credit Union lent most frequently to those with DTI ratios of 20-30%, with 16 originations. The next most common DTI ratio? <20%, with 10 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 37 | $6,265,000 | $169,324 | $0 | 4.20% |
| Black | 11 | $955,000 | $86,818 | $0 | 4.70% |
| Asian | 1 | $205,000 | $205,000 | $0 | 3.88% |
Approval Rates
Total approvals of all applications84.62%
Spc Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination63.27%
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 | 49 | $7,425,000 | $151,531 |