Palmetto Citizens Federal Credit Union Mortgage Rates, Fees & Info

Columbia, SC

LEI: 5493004JGZVB2EPI6W51

Tax ID: 57-0314480

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.13% 12/16/24
    30 Year Conventional Refi 6.17% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    30 Year FHA Refi 6.27% 12/16/24
    30 Year VA Purchase 6.25% 12/16/24
    30 Year VA Refi 6.27% 12/16/24
    30 Year USDA Purchase 6.45% 12/16/24
    15 Year Conventional Purchase 5.98% 12/16/24
    15 Year Conventional Refi 5.94% 12/16/24
    15 Year Cash-out Refi 5.94% 12/16/24
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Palmetto Citizens Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,179

    Origination Dollar Volume (All Markets)

    $110,355,000

    Top 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%
    Palmetto Citizens Federal Credit Union's top markets include Columbia, Charleston, Newberry, Augusta, and Sumter among others.

    Their top states include:
  • South Carolina (FHA|USDA|VA)

    • 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.

    S. C. STATE FEDERAL CREDIT UNION
    Similarity Rank: 323
    Palmetto Citizens Federal Credit Union
    Similarity Rank: 1380
    ALLIED MORTGAGE GROUP, INC.
    Similarity Rank: 2040
    INTERCOASTAL MORTGAGE COMPANY
    Similarity Rank: 2415
    Countybank
    Similarity Rank: 2508
    AMERICAN FEDERAL MORTGAGE CORPORATION
    Similarity Rank: 2575
    First Community Bank
    Similarity Rank: 3720
    SOUTH CAROLINA FEDERAL CREDIT UNION
    Similarity Rank: 3828
    FOUNDERS FEDERAL CREDIT UNION
    Similarity Rank: 4144
    SHARONVIEW FEDERAL CREDIT UNION
    Similarity Rank: 4484

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 741 $40,335,000 $54,433 n/a 0.00%
    Conventional 429 $68,365,000 $159,359 $3,227 3.31%
    VA 7 $1,315,000 $187,857 $6,815 3.05%
    USDA 2 $340,000 $170,000 $5,584 3.50%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 518 $41,410,000 $79,942 $3,106 3.26%
    Home Improvement 336 $17,500,000 $52,083 $2,379 3.35%
    Cash Out Refi 238 $37,650,000 $158,193 $3,070 3.23%
    Home Purchase 79 $10,995,000 $139,177 $3,995 3.46%
    Other 8 $2,800,000 $350,000 $7,633 5.39%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 743 $45,245,000 $60,895 $2,666 2.74%
    30 Year 257 $38,415,000 $149,475 $3,688 3.44%
    15 Year 130 $17,900,000 $137,692 $2,760 3.23%
    20 Year 36 $5,740,000 $159,444 $3,343 3.09%
    30+ year 8 $2,800,000 $350,000 $7,633 5.39%
    10 Year 4 $210,000 $52,500 $2,040 4.29%
    5 Year 1 $45,000 $45,000 $774 3.75%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 183 $24,435,000 $133,525
    $<1k 75 $7,605,000 $101,400
    $2k-3k 74 $15,390,000 $207,973
    $3k-4k 26 $7,290,000 $280,385
    $4k-5k 9 $3,365,000 $373,889
    $5k+ 5 $2,395,000 $479,000

    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

    Loan Rate Originations Total Value Average Loan
    2.5-3% 169 $27,905,000 $165,118
    3-4% 165 $26,895,000 $163,000
    <2.5% 62 $8,790,000 $141,774
    4-5% 23 $3,415,000 $148,478
    5-6% 7 $875,000 $125,000
    6-7% 7 $1,265,000 $180,714
    Over 8% 3 $275,000 $91,667

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 732 $34,130,000 $46,626 $2,249 3.48%
    $100k-200k 342 $46,210,000 $135,117 $3,068 3.23%
    $200k-400k 95 $25,305,000 $266,368 $4,702 3.25%
    $400k-600k 10 $4,710,000 $471,000 $7,005 4.08%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 287 $23,685,000 $82,526 $3,017 3.25%
    $100k-150k 271 $28,845,000 $106,439 $3,572 3.29%
    $75k-100k 227 $20,555,000 $90,551 $3,422 3.28%
    $50k or less 211 $14,275,000 $67,654 $2,706 3.58%
    $150k-250k 109 $14,085,000 $129,220 $4,499 3.11%
    $250k+ 36 $5,590,000 $155,278 $4,834 2.91%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 349 $34,105,000 $97,722 $3,340 3.28%
    <20% 220 $22,630,000 $102,864 $3,173 3.15%
    30-36% 194 $19,710,000 $101,598 $3,305 3.36%
    50-60% 56 $3,060,000 $54,643 $4,001 3.25%
    39% 37 $3,295,000 $89,054 $3,628 3.12%
    42% 35 $2,735,000 $78,143 $2,391 3.49%
    37% 35 $4,065,000 $116,143 $4,340 3.98%
    40% 31 $4,715,000 $152,097 $4,099 3.22%
    36% 29 $2,755,000 $95,000 $3,185 3.36%
    38% 28 $2,040,000 $72,857 $3,267 3.86%
    41% 25 $2,165,000 $86,600 $2,830 3.40%
    44% 19 $915,000 $48,158 $6,817 3.13%
    43% 18 $940,000 $52,222 $0 0.00%
    47% 16 $1,270,000 $79,375 $5,648 2.99%
    45% 12 $530,000 $44,167 $0 0.00%
    48% 11 $495,000 $45,000 $0 0.00%
    49% 11 $705,000 $64,091 $3,693 4.50%
    46% 10 $390,000 $39,000 $0 0.00%
    >60% 5 $565,000 $113,000 $13,141 3.13%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 927 $88,775,000 $95,766 $3,344 3.29%
    Black 177 $13,615,000 $76,921 $2,947 3.51%
    Not provided 53 $5,875,000 $110,849 $3,599 3.14%
    Asian 14 $1,590,000 $113,571 $3,381 2.87%
    Native Hawaiian or Islander 2 $210,000 $105,000 $2,891 3.50%
    American Indian 5 $195,000 $39,000 $0 0.00%
    Asian Indian 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.51%

    Palmetto Citizens Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.36%

    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

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 264 $16,500,000 $62,500 $2,414 3.08%
    40-60% 133 $14,735,000 $110,789 $2,850 3.14%
    60-80% 250 $40,700,000 $162,800 $3,424 3.23%
    80-100% 146 $23,960,000 $164,110 $3,596 3.54%
    Over 100% 1 $305,000 $305,000 $15,341 2.99%
    Under 20% 319 $13,315,000 $41,740 $1,563 3.79%

    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%