Servu Federal Credit Union Mortgage Rates, Fees & Info

Painted Post, NY

LEI: 5493006MFBT1AI7V3W25

Tax ID: 16-6041830

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Servu Federal Credit Union is a smaller credit union specializing in Other and Refi loans. Servu Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Corning, Rochester, Elmira, Seneca Falls, and Buffalo among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Servu 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.

    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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    Originations

    358

    Origination Dollar Volume (All Markets)

    $26,170,000

    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
    Corning, NY (FHA|USDA|VA) 248 $17,930,000 $72,298 $0 0.00%
    Outside of Metro Areas 44 $3,370,000 $76,591 $0 0.00%
    ROCHESTER, NY (FHA|USDA|VA) 33 $2,605,000 $78,939 $0 0.00%
    ELMIRA, NY (FHA|USDA|VA) 27 $1,955,000 $72,407 $0 0.00%
    Seneca Falls, NY (FHA|USDA|VA) 2 $120,000 $60,000 $0 0.00%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 2 $80,000 $40,000 $0 0.00%
    ITHACA, NY (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    BINGHAMTON, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
    Servu Federal Credit Union's top markets include Corning, Rochester, Elmira, Seneca Falls, and Buffalo among others.

    Their top states include:
  • New York (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 358 $26,170,000 $73,101 $0 0.00%

    For 2023, Servu Federal Credit Union's most frequently originated type of loan was Conventional, with 358 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 121 $7,465,000 $61,694 $0 0.00%
    Refi 86 $8,070,000 $93,837 $0 0.00%
    Cash Out Refi 55 $3,535,000 $64,273 $0 0.00%
    Home Purchase 49 $4,495,000 $91,735 $0 0.00%
    Home Improvement 47 $2,605,000 $55,426 $0 0.00%

    For 2023, Servu Federal Credit Union's most frequently cited loan purpose was Other, with 121 originations. The 2nd most popular reason was Refi, with 86 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 358 $26,170,000 $73,101 $0 0.00%

    For 2023, Servu Federal Credit Union's most frequently cited loan duration was Other, with 358 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 277 $13,865,000 $50,054 $0 0.00%
    $100k-200k 69 $9,065,000 $131,377 $0 0.00%
    $200k-400k 11 $2,825,000 $256,818 $0 0.00%
    $400k-600k 1 $415,000 $415,000 $0 0.00%

    2023 saw Servu Federal Credit Union place emphasis on $100,000 or less loans with 277 originations, totaling $13,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 114 $7,710,000 $67,632 $0 0.00%
    $100k-150k 83 $6,715,000 $80,904 $0 0.00%
    $50k or less 79 $4,315,000 $54,620 $0 0.00%
    $75k-100k 53 $3,985,000 $75,189 $0 0.00%
    $150k-250k 19 $2,405,000 $126,579 $0 0.00%
    $250k+ 3 $705,000 $235,000 $0 0.00%

    Servu Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 114 originations. The second most popular income band? $100k-150k, with 83 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 358 $26,170,000 $73,101 $0 0.00%

    Servu Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 358 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 355 $26,035,000 $73,338 $0 0.00%
    Black 3 $135,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.11%

    Servu Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.42%

    Servu Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 358 $26,170,000 $73,101

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    358 $26,170,000 $73,101