Palmetto Citizens Federal Credit Union Mortgage Rates, Fees & Info
Columbia, SCLEI: 5493004JGZVB2EPI6W51
Tax ID: 57-0314480
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Mortgage Data
Review & Overview
Palmetto Citizens Federal Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. Palmetto Citizens Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Columbia, Charleston, Newberry, Augusta, and Sumter among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Palmetto Citizens Federal 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. Palmetto Citizens Federal 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 | 6.13% | 12/6/24 |
30 Year Conventional Refi | 6.17% | 12/6/24 |
30 Year FHA Purchase | 6.27% | 12/6/24 |
30 Year FHA Refi | 6.27% | 12/6/24 |
30 Year VA Purchase | 6.25% | 12/6/24 |
30 Year VA Refi | 6.27% | 12/6/24 |
30 Year USDA Purchase | 6.45% | 12/6/24 |
15 Year Conventional Purchase | 5.98% | 12/6/24 |
15 Year Conventional Refi | 5.94% | 12/6/24 |
15 Year Cash-out Refi | 5.94% | 12/6/24 |
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. |
Palmetto Citizens Federal Credit Union Mortgage Calculator
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This is not an official calculator from Palmetto Citizens Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,179Origination Dollar Volume (All Markets)
$110,355,000Top 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 |
---|---|---|---|---|---|
COLUMBIA, SC (FHA|USDA|VA) | 1,111 | $101,975,000 | $91,787 | $3,269 | 3.29% |
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 10 | $1,960,000 | $196,000 | $4,776 | 3.12% |
Newberry, SC (FHA|USDA|VA) | 18 | $1,750,000 | $97,222 | $2,825 | 3.67% |
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 8 | $1,250,000 | $156,250 | $3,601 | 3.45% |
SUMTER, SC (FHA|USDA|VA) | 6 | $750,000 | $125,000 | $3,123 | 3.81% |
Outside of Metro Areas | 6 | $540,000 | $90,000 | $3,771 | 3.42% |
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $515,000 | $103,000 | $3,281 | 2.96% |
Georgetown, SC (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $9,605 | 4.25% |
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $4,184 | 3.68% |
Orangeburg, SC (FHA|USDA|VA) | 5 | $255,000 | $51,000 | $2,364 | 3.13% |
FLORENCE, SC (FHA|USDA|VA) | 3 | $225,000 | $75,000 | $2,448 | 3.75% |
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $3,656 | 3.50% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Palmetto Citizens Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2020, Palmetto Citizens Federal Credit Union's most frequently originated type of loan was HELOC, with 741 originations. Their 2nd most popular type was Conventional, with 429 originations.
Loan Reason
For 2020, Palmetto Citizens Federal Credit Union's most frequently cited loan purpose was Refi, with 518 originations. The 2nd most popular reason was Home Improvement, with 336 originations.
Loan Duration/Length
For 2020, Palmetto Citizens Federal Credit Union's most frequently cited loan duration was Other, with 743 originations. The 2nd most popular length was 30 Year, with 257 originations.
Origination Fees/Closing Costs
Palmetto Citizens Federal Credit Union's average total fees were $3,688, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 183 originations.
Interest Rates
During 2020, Palmetto Citizens Federal Credit Union's average interest rate for loans was 3.44%, while their most frequently originated rate bucket for loans was 2.5-3%, with 169 originations.
Loan Sizing
2020 saw Palmetto Citizens Federal Credit Union place emphasis on $100,000 or less loans with 732 originations, totaling $34,130,000 in origination value.
Applicant Income
Palmetto Citizens Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 287 originations. The second most popular income band? $100k-150k, with 271 originations.
Applicant Debt to Income Ratio
Palmetto Citizens Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 349 originations. The next most common DTI ratio? <20%, with 220 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.51%
Palmetto Citizens Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination82.36%
Palmetto Citizens Federal Credit Union has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
0.0 | 1 | $125,000 | $125,000 |
NA | 1,178 | $110,230,000 | $93,574 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Single Family (1-4 Units):Manufactured | 18 | $1,140,000 | $63,333 |
Single Family (1-4 Units):Site-Built | 1,161 | $109,215,000 | $94,070 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
PLANET HOME LENDING, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 4 | 4.3% |
PLANET HOME LENDING, LLC | Conventional home mortgage | Closing on a mortgage | 4 | 4.3% |
PLANET HOME LENDING, LLC | Conventional home mortgage | Incorrect information on your report | 1 | 1.1% |
PLANET HOME LENDING, LLC | Conventional home mortgage | Struggling to pay mortgage | 11 | 12.0% |
PLANET HOME LENDING, LLC | Conventional home mortgage | Trouble during payment process | 16 | 17.4% |
PLANET HOME LENDING, LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 2.2% |
PLANET HOME LENDING, LLC | FHA mortgage | Closing on a mortgage | 3 | 3.3% |
PLANET HOME LENDING, LLC | FHA mortgage | Incorrect information on your report | 1 | 1.1% |
PLANET HOME LENDING, LLC | FHA mortgage | Struggling to pay mortgage | 5 | 5.4% |
PLANET HOME LENDING, LLC | FHA mortgage | Trouble during payment process | 18 | 19.6% |
PLANET HOME LENDING, LLC | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 2 | 2.2% |
PLANET HOME LENDING, LLC | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 1.1% |
PLANET HOME LENDING, LLC | Other type of mortgage | Struggling to pay mortgage | 2 | 2.2% |
PLANET HOME LENDING, LLC | Other type of mortgage | Trouble during payment process | 5 | 5.4% |
PLANET HOME LENDING, LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 2.2% |
PLANET HOME LENDING, LLC | VA mortgage | Closing on a mortgage | 3 | 3.3% |
PLANET HOME LENDING, LLC | VA mortgage | Struggling to pay mortgage | 4 | 4.3% |
PLANET HOME LENDING, LLC | VA mortgage | Trouble during payment process | 8 | 8.7% |