Statewide Federal Credit Union Mortgage Rates, Fees & Info

Flowood, MS

LEI: 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, Refi, and Cash Out Refi loans. Statewide Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Starkville, Jackson, Oxford, Tupelo, and Cleveland among others. We have data for 7 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. They have a below average pick rate when compared to similar lenders.

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Originations

19

Origination Dollar Volume (All Markets)

$3,075,000

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
Starkville, MS (FHA|USDA|VA) 6 $1,190,000 $198,333 $0 0.00%
JACKSON, MS (FHA|USDA|VA) 7 $715,000 $102,143 $0 0.00%
Outside of Metro Areas 2 $350,000 $175,000 $0 0.00%
Oxford, MS (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
Tupelo, MS (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
Cleveland, MS (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
West Point, MS (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
Statewide Federal Credit Union's top markets include Starkville, Jackson, Oxford, Tupelo, and Cleveland among others.

Their top states include:
  • Mississippi (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 19 $3,075,000 $161,842 $0 0.00%

    For 2021, 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 7 $1,225,000 $175,000 $0 0.00%
    Refi 7 $1,165,000 $166,429 $0 0.00%
    Cash Out Refi 5 $685,000 $137,000 $0 0.00%

    For 2021, Statewide Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 7 originations. The 2nd most popular reason was Refi, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 19 $3,075,000 $161,842 $0 0.00%

    For 2021, Statewide Federal Credit Union's most frequently cited loan duration was Other, with 19 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 7 $1,055,000 $150,714 $0 0.00%
    $100,000 or less 6 $410,000 $68,333 $0 0.00%
    $200k-400k 6 $1,610,000 $268,333 $0 0.00%

    2021 saw Statewide Federal Credit Union place emphasis on $100k-200k loans with 7 originations, totaling $1,055,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 7 $1,465,000 $209,286 $0 0.00%
    $50k-75k 4 $610,000 $152,500 $0 0.00%
    $50k or less 3 $305,000 $101,667 $0 0.00%
    $75k-100k 3 $235,000 $78,333 $0 0.00%
    $150k-250k 1 $285,000 $285,000 $0 0.00%
    $250k+ 1 $175,000 $175,000 $0 0.00%

    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? $50k-75k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 19 $3,075,000 $161,842 $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 16 $2,630,000 $164,375 $0 0.00%
    Black 2 $340,000 $170,000 $0 0.00%
    American Indian 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination
    78.95%

    Statewide Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 19 $3,075,000 $161,842

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    19 $3,075,000 $161,842