Greenville Federal Credit Union Mortgage Rates, Fees & Info

Greenville, SC

LEI: 549300B5RA7BRG1R2728

Tax ID: 57-0515148

5 stars - Updated: 3/28/24 - out of 5 stars, based on 15 reviews

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

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Mortgage Data

Review & Overview

Greenville Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Greenville Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Greenville, Spartanburg, Sumter, Toccoa, and Asheville among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Greenville 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. Greenville Federal Credit Union is typically an average 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 relatively high 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 5.36% 3/28/24
30 Year Conventional Purchase 6.08% 3/28/24
30 Year Conventional Refi 6.59% 3/28/24
30 Year Cash-out Refi 6.67% 3/28/24
15 Year Conventional Purchase 7.71% 3/28/24
15 Year Conventional Refi 8.16% 3/28/24
15 Year Cash-out Refi 8.16% 3/28/24
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.

Greenville 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 Greenville 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

240

Origination Dollar Volume (All Markets)

$42,370,000

Awards

GREENVILLE FEDERAL CREDIT UNION 30 Year Conventional Loans gold GREENVILLE FEDERAL CREDIT UNION 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Greenville Federal Credit Union's average 30 year fixed mortgage rate was 5.61%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.87%.

Relative Fees (Closing Costs)

Greenville Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,525.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 203 $30,605,000 $150,764 $3,071 7.24%
SPARTANBURG, SC (FHA|USDA|VA) 30 $5,520,000 $184,000 $2,672 7.25%
SUMTER, SC (FHA|USDA|VA) 1 $3,175,000 $3,175,000 $0 7.25%
Toccoa, GA (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 6.85%
ASHEVILLE, NC (FHA|USDA|VA) 1 $685,000 $685,000 $0 6.50%
Seneca, SC (FHA|USDA|VA) 1 $655,000 $655,000 $12,565 5.50%
Gaffney, SC (FHA|USDA|VA) 1 $305,000 $305,000 $5,374 7.00%
COLUMBIA, SC (FHA|USDA|VA) 2 $220,000 $110,000 $2,512 6.87%
Greenville Federal Credit Union's top markets include Greenville, Spartanburg, Sumter, Toccoa, and Asheville among others.

Their top states include:
  • South Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against GREENVILLE FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 376
    Arthur State Bank
    Similarity Rank: 1148
    FOUNDERS FEDERAL CREDIT UNION
    Similarity Rank: 1480
    CPM Federal Credit Union
    Similarity Rank: 1562
    First Bank
    Similarity Rank: 1887
    First Palmetto Bank
    Similarity Rank: 2268
    SOUTH CAROLINA FEDERAL CREDIT UNION
    Similarity Rank: 2552
    HomeTrust Bank
    Similarity Rank: 2618
    First Reliance Bank
    Similarity Rank: 2640

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 150 $35,100,000 $234,000 $3,105 6.93%
    HELOC 90 $7,270,000 $80,778 n/a 7.72%

    For 2023, Greenville Federal Credit Union's most frequently originated type of loan was Conventional, with 150 originations. Their 2nd most popular type was HELOC, with 90 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 81 $5,385,000 $66,481 $1,079 7.90%
    Home Improvement 76 $6,320,000 $83,158 $942 7.69%
    Home Purchase 54 $24,530,000 $454,259 $6,164 6.05%
    Cash Out Refi 16 $4,080,000 $255,000 $4,788 5.83%
    Refi 12 $1,730,000 $144,167 $2,319 6.97%
    NA 1 $325,000 $325,000 $0 6.50%

    For 2023, Greenville Federal Credit Union's most frequently cited loan purpose was Other, with 81 originations. The 2nd most popular reason was Home Improvement, with 76 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 143 $11,195,000 $78,287 $1,119 7.82%
    30 Year 48 $14,390,000 $299,792 $5,525 5.61%
    10 Year 25 $1,515,000 $60,600 $965 7.61%
    5 Year 16 $11,700,000 $731,250 $1,017 6.93%
    30+ year 7 $3,535,000 $505,000 $10,061 5.50%
    Other 1 $35,000 $35,000 $1,215 6.99%

    For 2023, Greenville Federal Credit Union's most frequently cited loan duration was 15 Year, with 143 originations. The 2nd most popular length was 30 Year, with 48 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 81 $5,365,000 $66,235
    $1k-2k 15 $2,475,000 $165,000
    $2k-3k 15 $3,905,000 $260,333
    $5k+ 12 $7,200,000 $600,000
    $3k-4k 9 $2,845,000 $316,111
    $4k-5k 4 $1,680,000 $420,000

    Greenville Federal Credit Union's average total fees were $5,525, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 81 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 90 $9,590,000 $106,556
    5-6% 53 $14,475,000 $273,113
    Over 8% 52 $3,660,000 $70,385
    6-7% 39 $12,135,000 $311,154
    4-5% 6 $2,510,000 $418,333

    During 2023, Greenville Federal Credit Union's average interest rate for loans was 5.61%, while their most frequently originated rate bucket for loans was 7-8%, with 90 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 138 $7,500,000 $54,348 $1,036 7.86%
    $100k-200k 40 $5,430,000 $135,750 $2,813 6.97%
    $200k-400k 39 $10,515,000 $269,615 $4,922 5.97%
    $400k-600k 9 $4,805,000 $533,889 $8,808 5.31%
    $600k-1MM 9 $6,255,000 $695,000 $11,701 6.16%
    $1MM+ 5 $7,865,000 $1,573,000 $0 6.97%

    2023 saw Greenville Federal Credit Union place emphasis on $100,000 or less loans with 138 originations, totaling $7,500,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 69 $7,705,000 $111,667 $2,745 7.31%
    $150k-250k 46 $9,870,000 $214,565 $4,188 7.08%
    $75k-100k 46 $4,950,000 $107,609 $2,622 7.45%
    $50k-75k 37 $2,815,000 $76,081 $2,083 7.48%
    $250k+ 16 $4,760,000 $297,500 $6,632 6.48%
    $50k or less 12 $640,000 $53,333 $1,584 7.08%

    Greenville Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 69 originations. The second most popular income band? $150k-250k, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 57 $6,725,000 $117,982 $3,096 7.50%
    30-36% 44 $5,160,000 $117,273 $2,658 7.25%
    <20% 35 $4,025,000 $115,000 $2,785 7.21%
    42% 17 $2,015,000 $118,529 $2,097 7.55%
    40% 13 $2,275,000 $175,000 $3,130 7.67%
    39% 11 $1,985,000 $180,455 $4,373 6.88%
    36% 9 $1,185,000 $131,667 $2,650 7.88%
    38% 8 $1,370,000 $171,250 $3,640 6.78%
    37% 8 $1,430,000 $178,750 $3,465 7.03%
    41% 8 $1,980,000 $247,500 $5,270 6.47%
    50-60% 3 $225,000 $75,000 $1,524 7.83%
    43% 3 $625,000 $208,333 $3,946 6.41%
    45% 1 $35,000 $35,000 $1,290 7.49%
    46% 1 $75,000 $75,000 $885 8.49%
    44% 1 $155,000 $155,000 $1,135 7.49%

    Greenville Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 57 originations. The next most common DTI ratio? 30-36%, with 44 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 202 $28,900,000 $143,069 $3,248 7.19%
    Not applicable 14 $11,630,000 $830,714 $0 6.85%
    Black 13 $865,000 $66,538 $1,479 8.36%
    Not provided 7 $785,000 $112,143 $3,098 6.71%
    Asian 2 $100,000 $50,000 $0 7.50%
    American Indian 1 $65,000 $65,000 $885 8.49%
    Other Pacific Islander 1 $25,000 $25,000 $885 7.49%

    Approval Rates

    Total approvals of all applications
    74.06%

    Greenville Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    42.50%

    Greenville Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 240 $42,370,000 $176,542

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    240 $42,370,000 $176,542

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 64 $6,890,000 $107,656 $1,381 7.55%
    40-60% 18 $7,860,000 $436,667 $4,019 6.26%
    60-80% 21 $11,485,000 $546,905 $7,581 6.10%
    80-100% 31 $10,345,000 $333,710 $6,226 5.68%
    Under 20% 106 $5,790,000 $54,623 $1,024 7.88%