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 Refi loans. Servu Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Corning, Elmira, Rochester, Binghamton, and Syracuse among others. We have data for 7 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

    318

    Origination Dollar Volume (All Markets)

    $18,750,000

    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) 250 $14,560,000 $58,240 $0 0.00%
    Outside of Metro Areas 32 $1,890,000 $59,063 $0 0.00%
    ELMIRA, NY (FHA|USDA|VA) 18 $950,000 $52,778 $0 0.00%
    ROCHESTER, NY (FHA|USDA|VA) 14 $770,000 $55,000 $0 0.00%
    BINGHAMTON, NY (FHA|USDA|VA) 2 $280,000 $140,000 $0 0.00%
    SYRACUSE, NY (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Auburn, NY (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
    Servu Federal Credit Union's top markets include Corning, Elmira, Rochester, Binghamton, and Syracuse among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 318 $18,750,000 $58,962 $0 0.00%

    For 2019, Servu Federal Credit Union's most frequently originated type of loan was Conventional, with 318 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 139 $9,305,000 $66,942 $0 0.00%
    Other 64 $3,090,000 $48,281 $0 0.00%
    Home Improvement 57 $2,565,000 $45,000 $0 0.00%
    Home Purchase 37 $2,415,000 $65,270 $0 0.00%
    Cash Out Refi 21 $1,375,000 $65,476 $0 0.00%

    For 2019, Servu Federal Credit Union's most frequently cited loan purpose was Refi, with 139 originations. The 2nd most popular reason was Other, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 318 $18,750,000 $58,962 $0 0.00%

    For 2019, Servu Federal Credit Union's most frequently cited loan duration was Other, with 318 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 278 $13,120,000 $47,194 $0 0.00%
    $100k-200k 36 $4,790,000 $133,056 $0 0.00%
    $200k-400k 4 $840,000 $210,000 $0 0.00%

    2019 saw Servu Federal Credit Union place emphasis on $100,000 or less loans with 278 originations, totaling $13,120,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 106 $4,610,000 $43,491 $0 0.00%
    $50k-75k 91 $5,215,000 $57,308 $0 0.00%
    $100k-150k 55 $4,485,000 $81,545 $0 0.00%
    $75k-100k 46 $3,060,000 $66,522 $0 0.00%
    $150k-250k 11 $825,000 $75,000 $0 0.00%

    Servu Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 106 originations. The second most popular income band? $50k-75k, with 91 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 318 $18,750,000 $58,962 $0 0.00%

    Servu Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 318 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 317 $18,735,000 $59,101 $0 0.00%
    Black 1 $15,000 $15,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.27%

    Servu Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.76%

    Servu Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 318 $18,750,000 $58,962

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 30 $1,320,000 $44,000
    Single Family (1-4 Units):Site-Built 288 $17,430,000 $60,521