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 markets by origination volume include: Jackson, Starkville, Tupelo, Oxford, and Vicksburg among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Statewide Federal Credit Union has an above average approval rate when compared to the average across all lenders.
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Originations
19Origination Dollar Volume (All Markets)
$3,305,000Top 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) | 7 | $1,555,000 | $222,143 | $0 | 0.00% |
| Starkville, MS (FHA|USDA|VA) | 4 | $710,000 | $177,500 | $0 | 0.00% |
| Outside of Metro Areas | 5 | $625,000 | $125,000 | $0 | 0.00% |
| Tupelo, MS (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Oxford, MS (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Vicksburg, MS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 19 | $3,305,000 | $173,947 | $0 | 0.00% |
For 2018, Statewide Federal Credit Union's most frequently originated type of loan was Conventional, with 19 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 12 | $2,320,000 | $193,333 | $0 | 0.00% |
| Refi | 4 | $660,000 | $165,000 | $0 | 0.00% |
| Cash Out Refi | 3 | $325,000 | $108,333 | $0 | 0.00% |
For 2018, Statewide Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 12 originations. The 2nd most popular reason was Refi, with 4 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 19 | $3,305,000 | $173,947 | $0 | 0.00% |
For 2018, Statewide Federal Credit Union's most frequently cited loan duration was Other, with 19 originations.
Loan Sizing
2018 saw Statewide Federal Credit Union place emphasis on $100k-200k loans with 7 originations, totaling $1,035,000 in origination value.
Applicant Income
Statewide Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $150k-250k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 19 | $3,305,000 | $173,947 | $0 | 0.00% |
Statewide Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 19 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 17 | $2,605,000 | $153,235 | $0 | 0.00% |
| Not provided | 1 | $425,000 | $425,000 | $0 | 0.00% |
| Asian | 1 | $275,000 | $275,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications95.24%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 19 | $3,305,000 | $173,947 |