Sharefax Credit Union Mortgage Rates, Fees & Info
BATAVIA, OHLEI: 549300FB7LY738B0AS28
Tax ID: 31-0627742
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Mortgage Data
Review & Overview
Sharefax Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Sharefax Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Cincinnati, Pensacola, Wilmington, Dayton, and Lakeland among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Sharefax Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Sharefax 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 5/4/24 |
| 30 Year Conventional Purchase | 6.15% | 5/4/24 |
| 30 Year Conventional Refi | 5.74% | 5/4/24 |
| 30 Year Cash-out Refi | 5.80% | 5/4/24 |
| 15 Year Conventional Purchase | 5.77% | 5/4/24 |
| 15 Year Conventional Refi | 5.39% | 5/4/24 |
| 15 Year Cash-out Refi | 5.39% | 5/4/24 |
| 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. | ||
Sharefax Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
162Origination Dollar Volume (All Markets)
$18,040,000Top 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 |
|---|---|---|---|---|---|
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 151 | $16,565,000 | $109,702 | $1,691 | 4.01% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,708 | 3.00% |
| Wilmington, OH (FHA|USDA|VA) | 4 | $420,000 | $105,000 | $2,146 | 4.56% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $1,859 | 4.13% |
| Outside of Metro Areas | 3 | $215,000 | $71,667 | $1,208 | 4.09% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,214 | 3.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Sharefax Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 55
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 135 | $16,565,000 | $122,704 | $1,711 | 3.75% |
| HELOC | 27 | $1,475,000 | $54,630 | n/a | 5.35% |
For 2019, Sharefax Credit Union's most frequently originated type of loan was Conventional, with 135 originations. Their 2nd most popular type was HELOC, with 27 originations.
Loan Reason
For 2019, Sharefax Credit Union's most frequently cited loan purpose was Cash Out Refi, with 51 originations. The 2nd most popular reason was Home Purchase, with 37 originations.
Loan Duration/Length
For 2019, Sharefax Credit Union's most frequently cited loan duration was 15 Year, with 113 originations. The 2nd most popular length was Other, with 23 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 106 | $15,550,000 | $146,698 |
Sharefax Credit Union's average total fees were $2,157, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 106 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 62 | $8,140,000 | $131,290 |
| 2.5-3% | 36 | $6,110,000 | $169,722 |
| 4-5% | 36 | $2,400,000 | $66,667 |
| 5-6% | 28 | $1,390,000 | $49,643 |
During 2019, Sharefax Credit Union's average interest rate for loans was 4.10%, while their most frequently originated rate bucket for loans was 3-4%, with 62 originations.
Loan Sizing
2019 saw Sharefax Credit Union place emphasis on $100,000 or less loans with 85 originations, totaling $4,095,000 in origination value.
Applicant Income
Sharefax Credit Union lent most frequently to those with incomes in the $50k-75k range, with 49 originations. The second most popular income band? $100k-150k, with 41 originations.
Applicant Debt to Income Ratio
Sharefax Credit Union lent most frequently to those with DTI ratios of 20-30%, with 51 originations. The next most common DTI ratio? 30-36%, with 28 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.71%
Sharefax Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination67.90%
Sharefax 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 |
|---|---|---|---|
| 381.0 | 1 | $105,000 | $105,000 |
| NA | 161 | $17,935,000 | $111,398 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 3 | $155,000 | $51,667 |
| Single Family (1-4 Units):Site-Built | 159 | $17,885,000 | $112,484 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SERVICELINK LOSS MITIGATION SERVICES | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |