Security First Federal Credit Union Mortgage Rates, Fees & Info

EDINBURG, TX

LEI: 549300CZYL6IDJDBUR04

Tax ID: 74-1119459

5 stars - Updated: 12/2/24 - out of 5 stars, based on 5 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Security First Federal Credit Union is a smaller credit union specializing in Other and Home Purchase loans. Security First Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Mcallen, Brownsville, and Rio Grande City among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Security First Federal Credit Union has a below average approval rate when compared to the average across all lenders. Security First 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 about average 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.27% 12/2/24
30 Year Conventional Refi 6.27% 12/2/24
15 Year Conventional Refi 5.68% 12/2/24
15 Year Cash-out Refi 5.68% 12/2/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Security First Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Security First Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

28

Origination Dollar Volume (All Markets)

$4,070,000

Awards

SECURITY FIRST Federal Credit Union 30 Year Conventional Loans gold SECURITY FIRST Federal Credit Union 30 Year Conventional Loans gold SECURITY FIRST Federal Credit Union 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Security First Federal Credit Union's average 30 year fixed mortgage rate was 5.11%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -1.37%.

Relative Fees (Closing Costs)

Security First Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,876.

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
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 21 $3,385,000 $161,190 $3,551 5.31%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 5 $415,000 $83,000 $2,552 5.66%
Outside of Metro Areas 1 $205,000 $205,000 $5,587 5.95%
Rio Grande City-Roma, TX (FHA|USDA|VA) 1 $65,000 $65,000 $2,860 5.50%
Security First Federal Credit Union's top markets include Mcallen, Brownsville, and Rio Grande City among others.

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

    We use machine learning to identify the top lenders compared against SECURITY FIRST Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    ASCENT HOME LENDING, LLC
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 28 $4,070,000 $145,357 $3,420 5.40%

    For 2023, Security First Federal Credit Union's most frequently originated type of loan was Conventional, with 28 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 19 $2,165,000 $113,947 $2,836 5.66%
    Home Purchase 7 $1,415,000 $202,143 $5,168 5.10%
    Refi 2 $490,000 $245,000 $2,857 4.00%

    For 2023, Security First Federal Credit Union's most frequently cited loan purpose was Other, with 19 originations. The 2nd most popular reason was Home Purchase, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 18 $3,230,000 $179,444 $3,876 5.11%
    15 Year 5 $305,000 $61,000 $2,314 5.88%
    10 Year 3 $335,000 $111,667 $3,060 5.87%
    20 Year 2 $200,000 $100,000 $2,629 6.13%

    For 2023, Security First Federal Credit Union's most frequently cited loan duration was 30 Year, with 18 originations. The 2nd most popular length was 15 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 22 $2,720,000 $123,636
    $1k-2k 3 $565,000 $188,333
    $2k-3k 2 $480,000 $240,000
    $3k-4k 1 $305,000 $305,000

    Security First Federal Credit Union's average total fees were $3,876, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 22 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 17 $1,875,000 $110,294
    4-5% 4 $880,000 $220,000
    6-7% 4 $530,000 $132,500
    2.5-3% 2 $570,000 $285,000
    3-4% 1 $215,000 $215,000

    During 2023, Security First Federal Credit Union's average interest rate for loans was 5.11%, while their most frequently originated rate bucket for loans was 5-6%, with 17 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 12 $800,000 $66,667 $2,516 5.78%
    $100k-200k 8 $1,300,000 $162,500 $3,687 5.58%
    $200k-400k 8 $1,970,000 $246,250 $4,510 4.66%

    2023 saw Security First Federal Credit Union place emphasis on $100,000 or less loans with 12 originations, totaling $800,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 9 $1,205,000 $133,889 $3,362 5.53%
    $100k-150k 7 $1,355,000 $193,571 $3,900 4.94%
    $50k or less 6 $380,000 $63,333 $2,566 5.78%
    $75k-100k 3 $455,000 $151,667 $2,860 5.62%
    $150k-250k 2 $490,000 $245,000 $5,006 4.50%
    $250k+ 1 $185,000 $185,000 $4,233 6.25%

    Security First Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 9 originations. The second most popular income band? $100k-150k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 12 $1,890,000 $157,500 $3,806 5.47%
    20-30% 6 $610,000 $101,667 $2,914 5.63%
    <20% 3 $755,000 $251,667 $4,121 4.00%
    37% 3 $245,000 $81,667 $2,543 5.73%
    39% 2 $300,000 $150,000 $2,888 5.55%
    36% 1 $205,000 $205,000 $3,996 5.95%
    38% 1 $65,000 $65,000 $2,860 5.50%

    Security First Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 12 originations. The next most common DTI ratio? 20-30%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 27 $3,865,000 $143,148 $3,340 5.38%
    Asian 1 $205,000 $205,000 $5,587 5.95%

    Approval Rates

    Total approvals of all applications
    27.18%

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

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 28 $4,070,000 $145,357

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    28 $4,070,000 $145,357

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $370,000 $61,667 $2,383 5.84%
    40-60% 8 $950,000 $118,750 $2,910 5.75%
    60-80% 10 $2,290,000 $229,000 $4,389 4.80%
    80-100% 3 $415,000 $138,333 $3,644 5.55%
    Under 20% 1 $45,000 $45,000 $3,378 5.50%