Safe Federal Credit Union Mortgage Rates, Fees & Info

Sumter, SC

LEI: 549300BLQQL5GPC6OJ66

Tax ID: 57-0374874

2021 Data | 2020 Data | 2019 Data | 2018 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

587

Origination Dollar Volume (All Markets)

$91,175,000

Top 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 applications
66.81%

Safe Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

Pick Rate

Approvals leading to origination
69.98%

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