Safe Federal Credit Union Mortgage Rates, Fees & Info
Sumter, SCLEI: 549300BLQQL5GPC6OJ66
Tax ID: 57-0374874
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Safe Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Safe Federal Credit Union has a high proportion of conventional loans. Their top markets include Columbia, Sumter, Florence, Charleston, and Greenville among others. Safe Federal Credit Union has a below average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.Originations
587Origination Dollar Volume (All Markets)
$91,175,000Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| COLUMBIA, SC (FHA|USDA|VA) | 259 | $41,615,000 | $160,676 | $0 | 0.00% |
| SUMTER, SC (FHA|USDA|VA) | 229 | $33,255,000 | $145,218 | $0 | 0.00% |
| FLORENCE, SC (FHA|USDA|VA) | 43 | $7,085,000 | $164,767 | $0 | 0.00% |
| Outside of Metro Areas | 23 | $2,405,000 | $104,565 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 6 | $1,600,000 | $266,667 | $0 | 0.00% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 5 | $1,475,000 | $295,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $1,115,000 | $223,000 | $0 | 0.00% |
| SPARTANBURG, SC (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $0 | 0.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $0 | 0.00% |
| Orangeburg, SC (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $0 | 0.00% |
| Newberry, SC (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 0.00% |
| Seneca, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Gaffney, SC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Safe Federal Credit Union's top markets include Columbia, Sumter, Florence, Charleston, and Greenville among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 587 | $91,175,000 | $155,324 | $0 | 0.00% |
For the 2021 period, Safe Federal Credit Union's most frequently originated loan type of loans were Conventional, with 587 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 215 | $30,595,000 | $142,302 | $0 | 0.00% |
| Home Purchase | 162 | $32,490,000 | $200,556 | $0 | 0.00% |
| Refi | 105 | $13,395,000 | $127,571 | $0 | 0.00% |
| Home Improvement | 103 | $14,095,000 | $136,845 | $0 | 0.00% |
| Other | 2 | $600,000 | $300,000 | $0 | 0.00% |
For the 2021, Safe Federal Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 215 originations. The 2nd most popular reason of loans were Home Purchase, with 162 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 587 | $91,175,000 | $155,324 | $0 | 0.00% |
For the 2021, Safe Federal Credit Union's most frequently cited loan length of loans were Other, with 587 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 269 | $38,845,000 | $144,405 | $0 | 0.00% |
| $100,000 or less | 180 | $12,750,000 | $70,833 | $0 | 0.00% |
| $200k-400k | 123 | $32,635,000 | $265,325 | $0 | 0.00% |
| $400k-600k | 15 | $6,945,000 | $463,000 | $0 | 0.00% |
2021 saw Safe Federal Credit Union place emphasis on $100k-200k loans with 269 originations, totaling $38,845,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 161 | $20,815,000 | $129,286 | $0 | 0.00% |
| $50k or less | 146 | $15,470,000 | $105,959 | $0 | 0.00% |
| $100k-150k | 118 | $24,850,000 | $210,593 | $0 | 0.00% |
| $75k-100k | 117 | $20,705,000 | $176,966 | $0 | 0.00% |
| $150k-250k | 34 | $7,450,000 | $219,118 | $0 | 0.00% |
| $250k+ | 3 | $775,000 | $258,333 | $0 | 0.00% |
Safe Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 161 originations. The second most popular income band? $50k or less, with 146 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 587 | $91,175,000 | $155,324 | $0 | 0.00% |
Safe Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 587 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 409 | $62,595,000 | $153,044 | $0 | 0.00% |
| Black | 136 | $20,570,000 | $151,250 | $0 | 0.00% |
| Not provided | 30 | $5,840,000 | $194,667 | $0 | 0.00% |
| Not applicable | 3 | $895,000 | $298,333 | $0 | 0.00% |
| Asian | 5 | $765,000 | $153,000 | $0 | 0.00% |
| Native Hawaiian | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Other Asian | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Filipino | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Samoan | 1 | $95,000 | $95,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications66.81%
Safe Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination69.98%
Safe 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 |
|---|---|---|---|
| Exempt | 587 | $91,175,000 | $155,324 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 587 | $91,175,000 | $155,324 |
