Servu Federal Credit Union Mortgage Rates, Fees & Info
Painted Post, NYLEI: 5493006MFBT1AI7V3W25
Tax ID: 16-6041830
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Servu Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Servu Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Corning, Rochester, Elmira, Binghamton, and Buffalo 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 above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
330Origination Dollar Volume (All Markets)
$24,680,000Top 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 |
|---|---|---|---|---|---|
| Corning, NY (FHA|USDA|VA) | 226 | $15,940,000 | $70,531 | $0 | 0.00% |
| ROCHESTER, NY (FHA|USDA|VA) | 35 | $3,675,000 | $105,000 | $0 | 0.00% |
| Outside of Metro Areas | 47 | $3,345,000 | $71,170 | $0 | 0.00% |
| ELMIRA, NY (FHA|USDA|VA) | 19 | $1,465,000 | $77,105 | $0 | 0.00% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Olean, NY (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 330 | $24,680,000 | $74,788 | $0 | 0.00% |
For 2022, Servu Federal Credit Union's most frequently originated type of loan was Conventional, with 330 originations.
Loan Reason
For 2022, Servu Federal Credit Union's most frequently cited loan purpose was Refi, with 111 originations. The 2nd most popular reason was Other, with 70 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 330 | $24,680,000 | $74,788 | $0 | 0.00% |
For 2022, Servu Federal Credit Union's most frequently cited loan duration was Other, with 330 originations.
Loan Sizing
2022 saw Servu Federal Credit Union place emphasis on $100,000 or less loans with 265 originations, totaling $14,015,000 in origination value.
Applicant Income
Servu Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 108 originations. The second most popular income band? $50k or less, with 88 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 330 | $24,680,000 | $74,788 | $0 | 0.00% |
Servu Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 330 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 327 | $24,545,000 | $75,061 | $0 | 0.00% |
| Black | 3 | $135,000 | $45,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications92.93%
Servu Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination83.03%
Servu Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 330 | $24,680,000 | $74,788 |