Cpm Federal Credit Union Mortgage Rates, Fees & Info

North Charleston, SC

LEI: 549300I3LFY4G7F9CE90

Tax ID: 57-0363277

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Cpm Federal Credit Union is a smaller credit union specializing in Home Purchase, Cash Out Refi, and Refi loans. Cpm Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Greenville, Spartanburg, Charleston, Hilton Head Island, and Orangeburg among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cpm Federal 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. Cpm 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.51% 12/16/24
    30 Year Conventional Refi 6.87% 12/16/24
    30 Year Cash-out Refi 6.61% 12/16/24
    15 Year Conventional Purchase 6.07% 12/16/24
    15 Year Conventional Refi 6.50% 12/16/24
    15 Year Cash-out Refi 6.50% 12/16/24
    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.

    Cpm 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 Cpm 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

    210

    Origination Dollar Volume (All Markets)

    $34,970,000

    Awards

    CPM Federal Credit Union 30 Year Conventional Loans gold CPM Federal Credit Union 30 Year Conventional Loans gold CPM Federal Credit Union 30 Year Conventional Loans gold CPM Federal Credit Union 30 Year Conventional Loans silver
    Show all (4) awards

    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
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 78 $11,730,000 $150,385 $3,494 4.23%
    SPARTANBURG, SC (FHA|USDA|VA) 46 $7,570,000 $164,565 $3,735 3.95%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 31 $6,285,000 $202,742 $3,781 4.32%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 29 $5,795,000 $199,828 $4,001 4.07%
    Orangeburg, SC (FHA|USDA|VA) 9 $925,000 $102,778 $3,501 4.12%
    COLUMBIA, SC (FHA|USDA|VA) 6 $870,000 $145,000 $3,256 4.61%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $365,000 $365,000 $4,764 3.38%
    Outside of Metro Areas 4 $330,000 $82,500 $2,879 4.22%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $275,000 $275,000 $4,349 3.78%
    Forest City, NC (FHA|USDA|VA) 1 $245,000 $245,000 $4,278 4.00%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $175,000 $175,000 $3,258 5.25%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $165,000 $165,000 $3,348 3.50%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $135,000 $135,000 $3,449 4.08%
    Seneca, SC (FHA|USDA|VA) 1 $105,000 $105,000 $3,345 4.63%
    Cpm Federal Credit Union's top markets include Greenville, Spartanburg, Charleston, Hilton Head Island, and Orangeburg among others.

    Their top states include:
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • Similar Lenders

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

    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 285
    REV FEDERAL CREDIT UNION
    Similarity Rank: 472
    BLMC, INC
    Similarity Rank: 755
    FOUNDERS FEDERAL CREDIT UNION
    Similarity Rank: 924
    Entegra Bank
    Similarity Rank: 1036
    Amerisouth Mortgage Company
    Similarity Rank: 1131
    CAROLINA ALLIANCE BANK
    Similarity Rank: 1176
    First Piedmont Federal Savings and Loan Association of Gaffney
    Similarity Rank: 1356
    S. C. STATE FEDERAL CREDIT UNION
    Similarity Rank: 1444
    MTC Federal Credit Union
    Similarity Rank: 1751

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 210 $34,970,000 $166,524 $3,652 4.16%

    For 2018, Cpm Federal Credit Union's most frequently originated type of loan was Conventional, with 210 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 95 $17,625,000 $185,526 $3,952 4.31%
    Cash Out Refi 63 $9,445,000 $149,921 $3,493 4.21%
    Refi 49 $7,555,000 $154,184 $3,294 3.77%
    Home Improvement 3 $345,000 $115,000 $3,358 4.76%

    For 2018, Cpm Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 95 originations. The 2nd most popular reason was Cash Out Refi, with 63 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 129 $24,095,000 $186,783 $3,961 4.33%
    15 Year 69 $9,705,000 $140,652 $3,094 3.82%
    10 Year 9 $825,000 $91,667 $3,444 4.15%
    Other 2 $240,000 $120,000 $4,336 4.31%
    20 Year 1 $105,000 $105,000 $2,788 4.88%

    For 2018, Cpm Federal Credit Union's most frequently cited loan duration was 30 Year, with 129 originations. The 2nd most popular length was 15 Year, with 69 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 82 $11,640,000 $141,951
    $1k-2k 79 $10,295,000 $130,316
    $2k-3k 36 $9,180,000 $255,000
    $3k-4k 11 $3,015,000 $274,091
    $4k-5k 2 $840,000 $420,000

    Cpm Federal Credit Union's average total fees were $3,961, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 82 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 112 $21,450,000 $191,518
    4-5% 62 $8,850,000 $142,742
    5-6% 28 $3,610,000 $128,929
    6-7% 5 $485,000 $97,000
    2.5-3% 3 $575,000 $191,667

    During 2018, Cpm Federal Credit Union's average interest rate for loans was 4.33%, while their most frequently originated rate bucket for loans was 3-4%, with 112 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 108 $15,100,000 $139,815 $3,378 4.20%
    $200k-400k 50 $13,110,000 $262,200 $4,192 3.84%
    $100,000 or less 45 $3,335,000 $74,111 $3,331 4.51%
    $400k-600k 6 $2,720,000 $453,333 $5,813 3.61%
    $600k-1MM 1 $705,000 $705,000 $7,742 3.13%

    2018 saw Cpm Federal Credit Union place emphasis on $100k-200k loans with 108 originations, totaling $15,100,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 74 $10,970,000 $148,243 $3,528 4.29%
    $50k or less 52 $5,640,000 $108,462 $3,424 4.37%
    $75k-100k 34 $5,990,000 $176,176 $3,572 3.90%
    $100k-150k 33 $7,735,000 $234,394 $4,096 4.03%
    $150k-250k 15 $3,905,000 $260,333 $4,038 3.75%
    $250k+ 2 $730,000 $365,000 $5,289 3.37%

    Cpm Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 74 originations. The second most popular income band? $50k or less, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 52 $8,520,000 $163,846 $3,739 4.05%
    30-36% 36 $5,780,000 $160,556 $3,556 4.26%
    <20% 21 $2,855,000 $135,952 $3,253 3.80%
    39% 9 $1,665,000 $185,000 $3,747 3.85%
    49% 9 $1,715,000 $190,556 $3,436 4.11%
    44% 9 $2,045,000 $227,222 $3,900 4.25%
    42% 8 $1,450,000 $181,250 $4,051 4.25%
    40% 7 $1,175,000 $167,857 $3,436 4.20%
    47% 7 $1,205,000 $172,143 $3,758 4.82%
    38% 7 $1,175,000 $167,857 $3,190 4.93%
    43% 7 $975,000 $139,286 $3,709 4.16%
    37% 7 $865,000 $123,571 $3,738 4.50%
    45% 7 $975,000 $139,286 $3,774 4.45%
    46% 6 $910,000 $151,667 $3,924 3.98%
    48% 6 $1,110,000 $185,000 $3,918 4.25%
    36% 4 $880,000 $220,000 $3,940 3.66%
    50-60% 4 $1,060,000 $265,000 $4,197 3.90%
    41% 3 $375,000 $125,000 $2,973 4.46%
    >60% 1 $235,000 $235,000 $4,240 3.25%

    Cpm Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 52 originations. The next most common DTI ratio? 30-36%, with 36 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 151 $25,325,000 $167,715 $3,684 4.14%
    Not provided 27 $4,165,000 $154,259 $3,369 4.28%
    Black 26 $3,900,000 $150,000 $3,541 4.23%
    Asian 5 $1,495,000 $299,000 $4,697 3.65%
    American Indian 1 $85,000 $85,000 $4,085 4.25%

    Approval Rates

    Total approvals of all applications
    89.28%

    Cpm Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    47.62%

    Cpm Federal 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
    NA 210 $34,970,000 $166,524

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $630,000 $78,750
    Single Family (1-4 Units):Site-Built 202 $34,340,000 $170,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $735,000 $105,000 $3,147 3.55%
    40-60% 20 $2,560,000 $128,000 $3,214 4.00%
    60-80% 76 $11,700,000 $153,947 $3,609 4.10%
    80-100% 106 $19,920,000 $187,925 $3,800 4.28%
    Under 20% 1 $55,000 $55,000 $3,461 3.13%