State Employees Federal Credit Union Mortgage Rates, Fees & Info
Albany, NYLEI: 5493008RNHC5I1E3IZ56
Tax ID: 14-1338566
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
State Employees Federal Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. State Employees Federal Credit Union has an average proportion of conventional loans. Their top markets by origination volume include: Albany, Buffalo, Syracuse, Hudson, and Binghamton among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)State Employees 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.37% | 4/28/24 |
| 15 Year Conventional Purchase | 5.51% | 4/28/24 |
| 15 Year Conventional Refi | 5.44% | 4/28/24 |
| 15 Year Cash-out Refi | 5.44% | 4/28/24 |
| 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. | ||
State Employees Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
4,136Origination Dollar Volume (All Markets)
$366,650,000Top 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 |
|---|---|---|---|---|---|
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 2,946 | $257,100,000 | $87,271 | $11 | 4.31% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 278 | $35,070,000 | $126,151 | $76 | 5.70% |
| SYRACUSE, NY (FHA|USDA|VA) | 238 | $17,110,000 | $71,891 | $15 | 4.00% |
| Hudson, NY (FHA|USDA|VA) | 106 | $10,730,000 | $101,226 | $0 | 4.05% |
| BINGHAMTON, NY (FHA|USDA|VA) | 157 | $10,355,000 | $65,955 | $0 | 4.22% |
| GLENS FALLS, NY (FHA|USDA|VA) | 85 | $7,375,000 | $86,765 | $55 | 4.13% |
| Outside of Metro Areas | 77 | $5,995,000 | $77,857 | $0 | 4.29% |
| Amsterdam, NY (FHA|USDA|VA) | 81 | $5,365,000 | $66,235 | $0 | 4.05% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 32 | $4,470,000 | $139,688 | $0 | 4.25% |
| Gloversville, NY (FHA|USDA|VA) | 46 | $4,250,000 | $92,391 | $0 | 4.26% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 14 | $2,170,000 | $155,000 | $0 | 3.92% |
| KINGSTON, NY (FHA|USDA|VA) | 13 | $1,565,000 | $120,385 | $0 | 3.88% |
| Oneonta, NY (FHA|USDA|VA) | 13 | $1,225,000 | $94,231 | $0 | 4.11% |
| ROCHESTER, NY (FHA|USDA|VA) | 12 | $1,070,000 | $89,167 | $0 | 4.71% |
| UTICA-ROME, NY (FHA|USDA|VA) | 14 | $950,000 | $67,857 | $0 | 4.34% |
| Auburn, NY (FHA|USDA|VA) | 8 | $550,000 | $68,750 | $0 | 3.90% |
| Seneca Falls, NY (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $0 | 3.37% |
| Malone, NY (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 4.60% |
| ELMIRA, NY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 4.45% |
| Batavia, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 3.70% |
| Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 2.50% |
| ITHACA, NY (FHA|USDA|VA) | 3 | $95,000 | $31,667 | $0 | 4.42% |
| Olean, NY (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 5.75% |
| Cortland, NY (FHA|USDA|VA) | 2 | $50,000 | $25,000 | $0 | 3.33% |
| Ogdensburg-Massena, NY (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 5.49% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 3,367 | $281,865,000 | $83,714 | n/a | 4.41% |
| Conventional | 769 | $84,785,000 | $110,254 | $16 | 4.15% |
For 2022, State Employees Federal Credit Union's most frequently originated type of loan was HELOC, with 3,367 originations. Their 2nd most popular type was Conventional, with 769 originations.
Loan Reason
For 2022, State Employees Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 2,471 originations. The 2nd most popular reason was Refi, with 680 originations.
Loan Duration/Length
For 2022, State Employees Federal Credit Union's most frequently cited loan duration was 15 Year, with 2,454 originations. The 2nd most popular length was Other, with 642 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 732 | $55,560,000 | $75,902 |
State Employees Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 732 originations.
Interest Rates
During 2022, State Employees Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 1,472 originations.
Loan Sizing
2022 saw State Employees Federal Credit Union place emphasis on $100,000 or less loans with 2,952 originations, totaling $152,560,000 in origination value.
Applicant Income
State Employees Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,207 originations. The second most popular income band? $150k-250k, with 857 originations.
Applicant Debt to Income Ratio
State Employees Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 988 originations. The next most common DTI ratio? 30-36%, with 692 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.30%
State Employees Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination84.07%
State Employees Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 4,136 | $366,650,000 | $88,648 |