Solidarity Community Federal Credit Union Mortgage Rates, Fees & Info

Kokomo, IN

LEI: 5493009FTGT1RX4J7Y04

Tax ID: 35-0997583

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Mortgage Data

Review & Overview

Solidarity Community Federal Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. Solidarity Community Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Kokomo, Indianapolis, Peru, Logansport, and Lafayette among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

Solidarity Community 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. Solidarity Community 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 6.71% 4/28/24
30 Year Conventional Refi 6.19% 4/28/24
30 Year Cash-out Refi 6.95% 4/28/24
30 Year FHA Purchase 6.27% 4/28/24
15 Year Conventional Purchase 5.91% 4/28/24
15 Year Conventional Refi 6.16% 4/28/24
15 Year Cash-out Refi 6.16% 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.

Solidarity Community 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 Solidarity Community 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

508

Origination Dollar Volume (All Markets)

$61,940,000

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
KOKOMO, IN (FHA|USDA|VA) 394 $46,920,000 $119,086 $2,323 3.02%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 29 $4,785,000 $165,000 $0 3.02%
Outside of Metro Areas 26 $3,630,000 $139,615 $0 2.88%
Peru, IN (FHA|USDA|VA) 21 $2,275,000 $108,333 $0 3.02%
Logansport, IN (FHA|USDA|VA) 15 $1,125,000 $75,000 $0 3.12%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 7 $795,000 $113,571 $0 2.79%
Marion, IN (FHA|USDA|VA) 5 $505,000 $101,000 $0 2.95%
OCALA, FL (FHA|USDA|VA) 1 $345,000 $345,000 $0 3.25%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $235,000 $235,000 $0 3.38%
MUNCIE, IN (FHA|USDA|VA) 1 $215,000 $215,000 $0 3.00%
Frankfort, IN (FHA|USDA|VA) 1 $195,000 $195,000 $0 2.50%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $185,000 $185,000 $0 3.13%
Wabash, IN (FHA|USDA|VA) 1 $185,000 $185,000 $0 2.50%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $165,000 $165,000 $0 1.75%
NILES, MI (FHA|USDA|VA) 1 $155,000 $155,000 $0 3.25%
BLOOMINGTON, IN (FHA|USDA|VA) 1 $95,000 $95,000 $0 4.00%
Plymouth, IN (FHA|USDA|VA) 1 $75,000 $75,000 $0 2.38%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $55,000 $55,000 $0 2.75%
Solidarity Community Federal Credit Union's top markets include Kokomo, Indianapolis, Peru, Logansport, and Lafayette among others.

Their top states include:
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Solidarity Community Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Independent Federal Credit Union
    Similarity Rank: 441
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    BNC National Bank
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    INDIANA UNIVERSITY CREDIT UNION
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    CRANE
    Similarity Rank: 2070
    PARTNERS 1ST Federal Credit Union
    Similarity Rank: 2418
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 2496

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 508 $61,940,000 $121,929 $2,323 3.01%

    For 2020, Solidarity Community Federal Credit Union's most frequently originated type of loan was Conventional, with 508 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 208 $26,740,000 $128,558 $0 2.80%
    Cash Out Refi 143 $16,405,000 $114,720 $4,499 2.90%
    Home Purchase 141 $18,395,000 $130,461 $0 3.15%
    Other 16 $400,000 $25,000 $147 5.56%

    For 2020, Solidarity Community Federal Credit Union's most frequently cited loan purpose was Refi, with 208 originations. The 2nd most popular reason was Cash Out Refi, with 143 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 281 $37,435,000 $133,221 $4,499 3.14%
    15 Year 153 $17,055,000 $111,471 $0 2.83%
    20 Year 37 $5,045,000 $136,351 $0 2.86%
    10 Year 31 $1,945,000 $62,742 $0 2.77%
    Other 6 $460,000 $76,667 $147 3.75%

    For 2020, Solidarity Community Federal Credit Union's most frequently cited loan duration was 30 Year, with 281 originations. The 2nd most popular length was 15 Year, with 153 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 469 $57,635,000 $122,889
    $1k-2k 25 $2,235,000 $89,400
    $2k-3k 6 $800,000 $133,333
    $3k-4k 4 $500,000 $125,000
    $4k-5k 4 $770,000 $192,500

    Solidarity Community Federal Credit Union's average total fees were $4,499, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 469 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 216 $27,780,000 $128,611
    3-4% 160 $20,520,000 $128,250
    <2.5% 108 $12,530,000 $116,019
    5-6% 14 $560,000 $40,000
    4-5% 8 $490,000 $61,250
    6-7% 2 $60,000 $30,000

    During 2020, Solidarity Community Federal Credit Union's average interest rate for loans was 3.14%, while their most frequently originated rate bucket for loans was 2.5-3%, with 216 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 223 $31,045,000 $139,215 $4,499 2.93%
    $100,000 or less 219 $14,145,000 $64,589 $147 3.12%
    $200k-400k 64 $15,850,000 $247,656 $0 2.92%
    $400k-600k 2 $900,000 $450,000 $0 2.81%

    2020 saw Solidarity Community Federal Credit Union place emphasis on $100k-200k loans with 223 originations, totaling $31,045,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 163 $17,985,000 $110,337 $0 3.09%
    $50k or less 131 $10,735,000 $81,947 $147 3.12%
    $75k-100k 98 $13,620,000 $138,980 $0 2.93%
    $100k-150k 85 $14,005,000 $164,765 $4,499 2.88%
    $150k-250k 25 $4,225,000 $169,000 $0 2.82%
    $250k+ 6 $1,370,000 $228,333 $0 2.50%

    Solidarity Community Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 163 originations. The second most popular income band? $50k or less, with 131 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 165 $20,515,000 $124,333 $4,499 2.99%
    30-36% 106 $13,860,000 $130,755 $0 3.02%
    <20% 81 $8,465,000 $104,506 $0 2.90%
    41% 18 $2,410,000 $133,889 $0 2.97%
    36% 15 $1,565,000 $104,333 $0 2.88%
    37% 13 $1,475,000 $113,462 $0 2.82%
    40% 13 $1,605,000 $123,462 $0 2.75%
    48% 12 $1,310,000 $109,167 $147 3.72%
    38% 12 $1,040,000 $86,667 $0 2.77%
    43% 12 $1,680,000 $140,000 $0 2.96%
    44% 12 $1,500,000 $125,000 $0 3.16%
    39% 11 $1,865,000 $169,545 $0 2.98%
    45% 9 $1,665,000 $185,000 $0 3.06%
    47% 8 $930,000 $116,250 $0 2.89%
    49% 8 $560,000 $70,000 $0 4.08%
    42% 6 $770,000 $128,333 $0 3.33%
    46% 6 $640,000 $106,667 $0 3.40%
    50-60% 1 $85,000 $85,000 $0 5.38%

    Solidarity Community Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 165 originations. The next most common DTI ratio? 30-36%, with 106 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 471 $56,905,000 $120,817 $4,499 3.03%
    Black 18 $2,220,000 $123,333 $147 2.98%
    Asian 13 $1,715,000 $131,923 $0 2.68%
    American Indian 6 $1,100,000 $183,333 $0 2.77%

    Approval Rates

    Total approvals of all applications
    90.28%

    Solidarity Community Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.97%

    Solidarity Community Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 197 $21,975,000 $111,548
    1000.0 3 $455,000 $151,667
    1006.25 1 $45,000 $45,000
    1008.0 1 $65,000 $65,000
    1011.17 1 $55,000 $55,000
    1025.0 1 $205,000 $205,000
    1029.38 1 $75,000 $75,000
    1040.63 1 $45,000 $45,000
    1044.38 2 $150,000 $75,000
    1049.5 1 $205,000 $205,000
    1050.0 1 $145,000 $145,000
    1065.75 1 $145,000 $145,000
    1076.25 2 $250,000 $125,000
    1093.75 1 $175,000 $175,000
    1111.5 1 $75,000 $75,000
    1116.0 1 $115,000 $115,000
    1125.0 1 $225,000 $225,000
    1134.38 1 $105,000 $105,000
    1162.5 1 $65,000 $65,000
    1163.75 1 $45,000 $45,000
    1165.63 1 $65,000 $65,000
    1187.5 1 $195,000 $195,000
    1190.0 1 $235,000 $235,000
    120.0 1 $35,000 $35,000
    1200.0 1 $45,000 $45,000
    1203.75 1 $105,000 $105,000
    1223.75 1 $85,000 $85,000
    1225.0 1 $145,000 $145,000
    1235.0 1 $245,000 $245,000
    123.75 1 $35,000 $35,000
    1240.0 1 $245,000 $245,000
    125.63 1 $35,000 $35,000
    1259.25 1 $45,000 $45,000
    1273.13 2 $220,000 $110,000
    127.5 1 $55,000 $55,000
    1275.0 1 $255,000 $255,000
    1292.5 1 $95,000 $95,000
    1293.75 1 $105,000 $105,000
    1305.0 1 $265,000 $265,000
    1312.5 1 $155,000 $155,000
    1320.0 1 $175,000 $175,000
    1325.0 1 $265,000 $265,000
    1330.0 2 $290,000 $145,000
    1333.75 1 $45,000 $45,000
    1340.0 1 $265,000 $265,000
    1352.0 1 $135,000 $135,000
    1356.25 1 $155,000 $155,000
    1365.0 1 $95,000 $95,000
    1367.5 1 $125,000 $125,000
    1375.0 1 $95,000 $95,000
    140.0 1 $25,000 $25,000
    1410.75 1 $185,000 $185,000
    1423.0 1 $145,000 $145,000
    1425.0 1 $145,000 $145,000
    1430.0 1 $105,000 $105,000
    1445.63 1 $75,000 $75,000
    1448.12 1 $165,000 $165,000
    1452.63 1 $85,000 $85,000
    1474.0 1 $55,000 $55,000
    1500.0 1 $65,000 $65,000
    1509.38 1 $35,000 $35,000
    1518.0 1 $155,000 $155,000
    1545.0 1 $215,000 $215,000
    1552.38 1 $95,000 $95,000
    1573.63 1 $55,000 $55,000
    1596.75 1 $215,000 $215,000
    1602.25 1 $75,000 $75,000
    1608.75 1 $95,000 $95,000
    1650.0 1 $65,000 $65,000
    1655.63 2 $210,000 $105,000
    1662.0 1 $165,000 $165,000
    1663.75 1 $125,000 $125,000
    1680.0 1 $115,000 $115,000
    1690.0 1 $105,000 $105,000
    1697.5 1 $135,000 $135,000
    1705.0 1 $175,000 $175,000
    1716.88 1 $115,000 $115,000
    172.5 1 $65,000 $65,000
    1725.5 1 $85,000 $85,000
    1750.0 1 $45,000 $45,000
    1779.88 1 $75,000 $75,000
    1785.0 1 $205,000 $205,000
    180.0 1 $45,000 $45,000
    1807.5 1 $125,000 $125,000
    1820.0 1 $55,000 $55,000
    1826.0 1 $65,000 $65,000
    1834.0 1 $105,000 $105,000
    187.5 1 $55,000 $55,000
    1900.0 1 $85,000 $85,000
    1909.38 1 $185,000 $185,000
    1911.25 1 $135,000 $135,000
    1915.5 1 $125,000 $125,000
    1923.0 1 $125,000 $125,000
    1925.0 1 $145,000 $145,000
    195.0 2 $130,000 $65,000
    1960.0 1 $115,000 $115,000
    1965.0 1 $135,000 $135,000
    199.75 1 $75,000 $75,000
    2041.0 1 $135,000 $135,000
    2060.63 1 $115,000 $115,000
    2070.0 1 $185,000 $185,000
    208.13 1 $55,000 $55,000
    2104.38 1 $95,000 $95,000
    211.88 1 $55,000 $55,000
    2137.5 1 $95,000 $95,000
    215.0 1 $85,000 $85,000
    2155.0 1 $205,000 $205,000
    2159.38 1 $75,000 $75,000
    2163.13 1 $165,000 $165,000
    217.5 2 $110,000 $55,000
    221.25 1 $55,000 $55,000
    222.75 1 $85,000 $85,000
    2230.0 1 $85,000 $85,000
    2275.0 1 $265,000 $265,000
    228.75 1 $65,000 $65,000
    2296.0 1 $65,000 $65,000
    2343.75 1 $125,000 $125,000
    2365.0 1 $175,000 $175,000
    237.5 1 $95,000 $95,000
    2375.0 1 $235,000 $235,000
    2409.75 1 $115,000 $115,000
    2415.0 1 $95,000 $95,000
    2420.0 1 $85,000 $85,000
    2444.75 1 $275,000 $275,000
    244.5 1 $65,000 $65,000
    2478.0 1 $95,000 $95,000
    2496.0 1 $165,000 $165,000
    2497.5 1 $75,000 $75,000
    250.0 1 $105,000 $105,000
    2525.1 1 $115,000 $115,000
    253.75 1 $105,000 $105,000
    2541.25 1 $105,000 $105,000
    255.0 1 $65,000 $65,000
    2585.63 1 $135,000 $135,000
    258.75 1 $65,000 $65,000
    2587.5 1 $205,000 $205,000
    260.0 2 $210,000 $105,000
    260.03 1 $205,000 $205,000
    262.5 1 $75,000 $75,000
    265.0 1 $55,000 $55,000
    2681.75 1 $265,000 $265,000
    2733.13 1 $85,000 $85,000
    276.5 1 $115,000 $115,000
    280.0 1 $115,000 $115,000
    281.25 1 $75,000 $75,000
    2812.5 1 $155,000 $155,000
    285.0 1 $115,000 $115,000
    2860.0 1 $205,000 $205,000
    292.5 2 $150,000 $75,000
    294.5 1 $115,000 $115,000
    296.25 1 $115,000 $115,000
    298.75 1 $115,000 $115,000
    303.75 2 $170,000 $85,000
    306.25 1 $45,000 $45,000
    308.75 1 $125,000 $125,000
    311.25 2 $210,000 $105,000
    3135.0 1 $225,000 $225,000
    3160.63 1 $105,000 $105,000
    3208.13 1 $85,000 $85,000
    322.5 1 $125,000 $125,000
    325.0 1 $135,000 $135,000
    3250.0 1 $205,000 $205,000
    326.25 1 $85,000 $85,000
    330.0 1 $135,000 $135,000
    335.25 1 $135,000 $135,000
    337.5 1 $135,000 $135,000
    3377.25 1 $155,000 $155,000
    340.0 2 $270,000 $135,000
    3440.25 1 $155,000 $155,000
    3448.5 1 $225,000 $225,000
    3459.38 1 $125,000 $125,000
    347.5 1 $135,000 $135,000
    348.75 1 $135,000 $135,000
    360.0 1 $145,000 $145,000
    363.75 1 $95,000 $95,000
    371.25 1 $95,000 $95,000
    3768.75 1 $335,000 $335,000
    3781.0 1 $155,000 $155,000
    380.25 1 $155,000 $155,000
    3845.25 1 $175,000 $175,000
    385.0 1 $75,000 $75,000
    388.25 1 $155,000 $155,000
    391.25 1 $155,000 $155,000
    400.0 2 $330,000 $165,000
    4011.88 1 $155,000 $155,000
    402.5 2 $210,000 $105,000
    403.0 1 $165,000 $165,000
    406.05 1 $55,000 $55,000
    407.5 1 $165,000 $165,000
    4139.38 1 $245,000 $245,000
    415.0 1 $85,000 $85,000
    418.75 1 $165,000 $165,000
    420.0 1 $75,000 $75,000
    422.5 1 $165,000 $165,000
    431.25 1 $115,000 $115,000
    4460.0 1 $175,000 $175,000
    448.0 1 $25,000 $25,000
    45.0 7 $755,000 $107,857
    450.0 1 $125,000 $125,000
    455.0 1 $25,000 $25,000
    465.0 1 $125,000 $125,000
    468.75 1 $125,000 $125,000
    4694.88 1 $165,000 $165,000
    475.0 1 $195,000 $195,000
    480.0 1 $135,000 $135,000
    491.25 2 $390,000 $195,000
    493.75 1 $75,000 $75,000
    494.0 1 $95,000 $95,000
    496.25 1 $195,000 $195,000
    506.25 2 $270,000 $135,000
    513.75 1 $135,000 $135,000
    520.0 1 $205,000 $205,000
    5225.0 1 $385,000 $385,000
    524.75 1 $205,000 $205,000
    531.25 1 $85,000 $85,000
    539.25 1 $75,000 $75,000
    540.0 1 $215,000 $215,000
    543.75 2 $230,000 $115,000
    550.0 1 $225,000 $225,000
    556.25 1 $225,000 $225,000
    558.0 1 $75,000 $75,000
    562.0 1 $225,000 $225,000
    568.75 1 $95,000 $95,000
    5728.0 1 $205,000 $205,000
    581.75 1 $235,000 $235,000
    591.25 1 $235,000 $235,000
    593.75 1 $235,000 $235,000
    596.25 1 $75,000 $75,000
    602.5 1 $245,000 $245,000
    603.75 1 $65,000 $65,000
    630.0 2 $250,000 $125,000
    635.0 1 $125,000 $125,000
    636.0 1 $125,000 $125,000
    640.0 1 $65,000 $65,000
    647.5 1 $125,000 $125,000
    650.0 1 $265,000 $265,000
    657.5 1 $135,000 $135,000
    670.25 1 $265,000 $265,000
    671.25 1 $85,000 $85,000
    684.0 1 $45,000 $45,000
    686.25 1 $185,000 $185,000
    687.5 1 $275,000 $275,000
    692.5 1 $135,000 $135,000
    697.03 1 $135,000 $135,000
    700.0 2 $90,000 $45,000
    7051.61 1 $315,000 $315,000
    718.75 1 $115,000 $115,000
    720.0 1 $75,000 $75,000
    722.0 1 $145,000 $145,000
    725.0 1 $145,000 $145,000
    735.0 1 $45,000 $45,000
    756.25 1 $125,000 $125,000
    760.0 3 $265,000 $88,333
    765.0 1 $65,000 $65,000
    765.5 1 $155,000 $155,000
    769.5 1 $155,000 $155,000
    770.0 1 $85,000 $85,000
    805.0 1 $95,000 $95,000
    810.0 1 $165,000 $165,000
    820.0 2 $330,000 $165,000
    8200.0 1 $325,000 $325,000
    831.25 1 $95,000 $95,000
    850.0 1 $175,000 $175,000
    870.0 1 $115,000 $115,000
    877.5 1 $175,000 $175,000
    891.0 1 $115,000 $115,000
    902.25 1 $365,000 $365,000
    907.5 1 $185,000 $185,000
    918.75 1 $145,000 $145,000
    930.0 1 $185,000 $185,000
    943.5 1 $65,000 $65,000
    946.0 1 $65,000 $65,000
    950.0 1 $65,000 $65,000
    960.0 1 $125,000 $125,000
    967.5 1 $195,000 $195,000
    968.0 1 $75,000 $75,000
    996.0 1 $195,000 $195,000
    NA 5 $575,000 $115,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $445,000 $89,000
    Single Family (1-4 Units):Site-Built 503 $61,495,000 $122,256

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $2,315,000 $74,677 $0 2.91%
    40-60% 81 $8,065,000 $99,568 $0 2.84%
    60-80% 205 $25,935,000 $126,512 $2,323 2.93%
    80-100% 178 $25,250,000 $141,854 $0 3.07%
    Over 100% 1 $165,000 $165,000 $0 5.13%
    Under 20% 12 $210,000 $17,500 $0 4.75%