Safe Federal Credit Union Mortgage Rates, Fees & Info

Sumter, SC

LEI: 549300BLQQL5GPC6OJ66

Tax ID: 57-0374874

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Mortgage Data

Review & 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 by origination volume include: Columbia, Sumter, Florence, Charleston, and Greenville among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

Safe Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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.

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Originations

294

Origination Dollar Volume (All Markets)

$31,470,000

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
COLUMBIA, SC (FHA|USDA|VA) 154 $16,710,000 $108,506 $0 0.00%
SUMTER, SC (FHA|USDA|VA) 118 $12,170,000 $103,136 $0 0.00%
FLORENCE, SC (FHA|USDA|VA) 9 $925,000 $102,778 $0 0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $530,000 $265,000 $0 0.00%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 3 $455,000 $151,667 $0 0.00%
Orangeburg, SC (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
Outside of Metro Areas 4 $180,000 $45,000 $0 0.00%
Newberry, SC (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Safe Federal Credit Union's top markets include Columbia, Sumter, Florence, Charleston, and Greenville among others.

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

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

    FOUNDERS FEDERAL CREDIT UNION
    Similarity Rank: 198
    S. C. STATE FEDERAL CREDIT UNION
    Similarity Rank: 1140
    SOUTH CAROLINA FEDERAL CREDIT UNION
    Similarity Rank: 1302
    Trustmark National Bank
    Similarity Rank: 1456
    STATE EMPLOYEES'
    Similarity Rank: 2210
    First Community Bank
    Similarity Rank: 2560
    South State Bank
    Similarity Rank: 3240
    First Reliance Bank
    Similarity Rank: 4050
    George Mason Mortgage, LLC
    Similarity Rank: 4293

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 294 $31,470,000 $107,041 $0 0.00%

    For 2018, Safe Federal Credit Union's most frequently originated type of loan was Conventional, with 294 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 109 $11,195,000 $102,706 $0 0.00%
    Home Purchase 98 $13,910,000 $141,939 $0 0.00%
    Refi 44 $4,510,000 $102,500 $0 0.00%
    Home Improvement 29 $1,025,000 $35,345 $0 0.00%
    Other 14 $830,000 $59,286 $0 0.00%

    For 2018, Safe Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 109 originations. The 2nd most popular reason was Home Purchase, with 98 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 294 $31,470,000 $107,041 $0 0.00%

    For 2018, Safe Federal Credit Union's most frequently cited loan duration was Other, with 294 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 168 $9,400,000 $55,952 $0 0.00%
    $100k-200k 93 $13,095,000 $140,806 $0 0.00%
    $200k-400k 32 $8,570,000 $267,813 $0 0.00%
    $400k-600k 1 $405,000 $405,000 $0 0.00%

    2018 saw Safe Federal Credit Union place emphasis on $100,000 or less loans with 168 originations, totaling $9,400,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 86 $8,410,000 $97,791 $0 0.00%
    $50k or less 76 $5,750,000 $75,658 $0 0.00%
    $100k-150k 58 $7,690,000 $132,586 $0 0.00%
    $75k-100k 52 $6,120,000 $117,692 $0 0.00%
    $150k-250k 14 $2,300,000 $164,286 $0 0.00%
    $250k+ 1 $85,000 $85,000 $0 0.00%

    Safe Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 86 originations. The second most popular income band? $50k or less, with 76 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 294 $31,470,000 $107,041 $0 0.00%

    Safe Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 294 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 238 $25,250,000 $106,092 $0 0.00%
    Black 49 $5,035,000 $102,755 $0 0.00%
    Not provided 3 $725,000 $241,667 $0 0.00%
    Not applicable 2 $280,000 $140,000 $0 0.00%
    Asian 2 $180,000 $90,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    66.67%

    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
    52.38%

    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 294 $31,470,000 $107,041

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 294 $31,470,000 $107,041