Carolina Trust Federal Credit Union Mortgage Rates, Fees & Info
Myrtle Beach, SCLEI: 549300G2G5WIECTLPX95
Tax ID: 57-0385048
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Mortgage Data
Review & Overview
Carolina Trust Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Carolina Trust Federal Credit Union has a high proportion of conventional loans. Their top two markets are Myrtle Beach and Georgetown .Carolina Trust Federal Credit Union has a below 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 11/22/24 |
| 30 Year Conventional Refi | 6.27% | 11/22/24 |
| 30 Year Cash-out Refi | 6.27% | 11/22/24 |
| 30 Year FHA Purchase | 6.27% | 11/22/24 |
| 30 Year FHA Refi | 6.27% | 11/22/24 |
| 30 Year VA Purchase | 6.27% | 11/22/24 |
| 30 Year USDA Purchase | 6.27% | 11/22/24 |
| 15 Year Conventional Purchase | 5.68% | 11/22/24 |
| 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. | ||
Carolina Trust Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
107Origination Dollar Volume (All Markets)
$15,325,000Top 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 |
|---|---|---|---|---|---|
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 91 | $12,815,000 | $140,824 | $0 | 0.00% |
| Outside of Metro Areas | 14 | $2,300,000 | $164,286 | $0 | 0.00% |
| Georgetown, SC (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 0.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against CAROLINA TRUST FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 107 | $15,325,000 | $143,224 | $0 | 0.00% |
For 2018, Carolina Trust Federal Credit Union's most frequently originated type of loan was Conventional, with 107 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 53 | $8,895,000 | $167,830 | $0 | 0.00% |
| Cash Out Refi | 50 | $5,630,000 | $112,600 | $0 | 0.00% |
| Refi | 4 | $800,000 | $200,000 | $0 | 0.00% |
For 2018, Carolina Trust Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 53 originations. The 2nd most popular reason was Cash Out Refi, with 50 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 107 | $15,325,000 | $143,224 | $0 | 0.00% |
For 2018, Carolina Trust Federal Credit Union's most frequently cited loan duration was Other, with 107 originations.
Loan Sizing
2018 saw Carolina Trust Federal Credit Union place emphasis on $100k-200k loans with 46 originations, totaling $7,090,000 in origination value.
Applicant Income
Carolina Trust Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 32 originations. The second most popular income band? $75k-100k, with 24 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 107 | $15,325,000 | $143,224 | $0 | 0.00% |
Carolina Trust Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 107 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications65.17%
Carolina Trust Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination77.57%
Carolina Trust Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 107 | $15,325,000 | $143,224 |