Statewide Federal Credit Union Mortgage Rates, Fees & Info
Flowood, MSLEI: 549300CD29U5MGKVD387
Tax ID: 64-0338438
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Mortgage Data
Review & Overview
Statewide Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Statewide Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Jackson.Statewide 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. Statewide 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 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.
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Originations
1Origination Dollar Volume (All Markets)
$155,000Relative Rate
Statewide Federal Credit Union's average 30 year fixed mortgage rate was
5.99%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.49%.
Relative Fees (Closing Costs)
Statewide Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,429.
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 |
|---|---|---|---|---|---|
| JACKSON, MS (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,429 | 5.99% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1 | $155,000 | $155,000 | $4,429 | 5.99% |
For 2023, Statewide Federal Credit Union's most frequently originated type of loan was Conventional, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 1 | $155,000 | $155,000 | $4,429 | 5.99% |
For 2023, Statewide Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1 | $155,000 | $155,000 | $4,429 | 5.99% |
For 2023, Statewide Federal Credit Union's most frequently cited loan duration was 30 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $2k-3k | 1 | $155,000 | $155,000 |
Statewide Federal Credit Union's average total fees were $4,429, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 1 | $155,000 | $155,000 |
During 2023, Statewide Federal Credit Union's average interest rate for loans was 5.99%, while their most frequently originated rate bucket for loans was 5-6%, with 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 1 | $155,000 | $155,000 | $4,429 | 5.99% |
2023 saw Statewide Federal Credit Union place emphasis on $100k-200k loans with 1 originations, totaling $155,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 1 | $155,000 | $155,000 | $4,429 | 5.99% |
Statewide Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| <20% | 1 | $155,000 | $155,000 | $4,429 | 5.99% |
Statewide Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1 | $155,000 | $155,000 | $4,429 | 5.99% |
Approval Rates
Total approvals of all applications100.00%
Statewide Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination0.00%
Statewide 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 | 1 | $155,000 | $155,000 |