Srp Federal Credit Union Mortgage Rates, Fees & Info

North Augusta, SC

LEI: 549300K80E72C24ZOJ37

Tax ID: 57-0621127

5 stars - Updated: 4/5/25 - out of 5 stars, based on 27 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Srp Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Srp Federal Credit Union has a high proportion of conventional loans. Srp Federal Credit Union has an average proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Augusta, Columbia, Atlanta, Greenville, and Charleston among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Srp 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. Srp 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
    Home Equity Line of Credit (HELOC) 6.72% 4/5/25
    30 Year Conventional Purchase 6.45% 4/5/25
    30 Year Conventional Refi 6.15% 4/5/25
    30 Year Cash-out Refi 6.65% 4/5/25
    30 Year FHA Purchase 7.04% 4/5/25
    30 Year VA Purchase 6.33% 4/5/25
    15 Year Conventional Purchase 7.08% 4/5/25
    15 Year Conventional Refi 6.11% 4/5/25
    15 Year Cash-out Refi 6.11% 4/5/25
    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.

    Srp 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 Srp 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

    734

    Origination Dollar Volume (All Markets)

    $127,080,000
    Show all (5) awards

    Relative Rate

    Srp Federal Credit Union's average 30 year fixed mortgage rate was 6.14%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.41%.

    Relative Fees (Closing Costs)

    Srp Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $6,219.

    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 $8,356.

    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
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 654 $114,350,000 $174,847 $5,235 7.01%
    Outside of Metro Areas 40 $4,870,000 $121,750 $4,799 7.18%
    COLUMBIA, SC (FHA|USDA|VA) 13 $1,905,000 $146,538 $4,795 6.75%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 7 $1,205,000 $172,143 $6,801 5.56%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 6 $1,080,000 $180,000 $6,463 6.00%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 4 $1,050,000 $262,500 $6,854 6.29%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $830,000 $415,000 $7,917 6.31%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 2 $620,000 $310,000 $6,991 6.75%
    SAVANNAH, GA (FHA|USDA|VA) 1 $405,000 $405,000 $8,253 6.63%
    ALBANY, GA (FHA|USDA|VA) 1 $315,000 $315,000 $6,555 5.38%
    Greenwood, SC (FHA|USDA|VA) 2 $270,000 $135,000 $4,337 7.19%
    SUMTER, SC (FHA|USDA|VA) 1 $125,000 $125,000 $4,593 6.50%
    BRUNSWICK, GA (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    Srp Federal Credit Union's top markets include Augusta, Columbia, Atlanta, Greenville, and Charleston among others.

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

    • Similar Lenders

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

    Security Federal Bank
    Similarity Rank: 234
    FIRST CHOICE MORTGAGE, INC.
    Similarity Rank: 715
    AUGUSTA MORTGAGE CO.
    Similarity Rank: 720
    Coastal Carolina National Bank
    Similarity Rank: 722
    SRP Federal Credit Union
    Similarity Rank: 754
    Associated Credit Union
    Similarity Rank: 864
    First Community Bank
    Similarity Rank: 1504
    First Reliance Bank
    Similarity Rank: 1728
    CAROLINA ONE MORTGAGE, LLC
    Similarity Rank: 2114
    Queensborough National Bank & Trust Company
    Similarity Rank: 2556

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 387 $92,725,000 $239,599 $4,903 7.02%
    Conventional 312 $22,830,000 $73,173 $0 0.00%
    FHA 24 $5,840,000 $243,333 $10,692 6.15%
    HELOC 6 $4,560,000 $760,000 n/a 8.54%
    VA 5 $1,125,000 $225,000 $4,184 6.15%

    For 2024, Srp Federal Credit Union's most frequently originated type of loan was Conventional, with 387 originations. Their 2nd most popular type was Conventional, with 312 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 219 $67,575,000 $308,562 $6,389 6.16%
    Other 180 $16,090,000 $89,389 $3,270 9.08%
    Home Improvement 174 $13,980,000 $80,345 $3,786 7.28%
    Cash Out Refi 142 $23,900,000 $168,310 $4,305 7.06%
    Refi 19 $5,535,000 $291,316 $6,433 5.96%

    For 2024, Srp Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 219 originations. The 2nd most popular reason was Other, with 180 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 313 $22,915,000 $73,211 $0 7.00%
    30 Year 273 $68,935,000 $252,509 $6,219 6.14%
    15 Year 116 $11,300,000 $97,414 $2,997 8.77%
    5 Year 21 $17,635,000 $839,762 $2,327 7.20%
    10 Year 6 $5,740,000 $956,667 $2,174 8.29%
    3 Year 5 $555,000 $111,000 $0 8.80%

    For 2024, Srp Federal Credit Union's most frequently cited loan duration was Other, with 313 originations. The 2nd most popular length was 30 Year, with 273 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 98 $17,360,000 $177,143
    $<1k 88 $8,580,000 $97,500
    $3k-4k 76 $20,680,000 $272,105
    $1k-2k 72 $7,040,000 $97,778
    $4k-5k 33 $11,955,000 $362,273
    $5k+ 29 $14,955,000 $515,690

    Srp Federal Credit Union's average total fees were $6,219, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 98 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 166 $47,040,000 $283,373
    5-6% 139 $41,805,000 $300,755
    Over 8% 85 $6,755,000 $79,471
    7-8% 25 $6,705,000 $268,200
    4-5% 7 $1,945,000 $277,857

    During 2024, Srp Federal Credit Union's average interest rate for loans was 6.14%, while their most frequently originated rate bucket for loans was 6-7%, with 166 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 360 $20,520,000 $57,000 $2,676 8.65%
    $100k-200k 179 $25,575,000 $142,877 $4,412 6.88%
    $200k-400k 157 $43,265,000 $275,573 $6,740 6.05%
    $400k-600k 27 $12,515,000 $463,519 $8,858 5.84%
    $1MM+ 6 $21,870,000 $3,645,000 $16,979 6.71%
    $600k-1MM 5 $3,335,000 $667,000 $10,779 5.98%

    2024 saw Srp Federal Credit Union place emphasis on $100,000 or less loans with 360 originations, totaling $20,520,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 168 $18,390,000 $109,464 $4,756 7.02%
    $100k-150k 155 $26,165,000 $168,806 $5,861 6.96%
    $75k-100k 134 $16,930,000 $126,343 $4,967 7.15%
    $150k-250k 107 $23,435,000 $219,019 $6,497 6.81%
    $50k or less 98 $7,450,000 $76,020 $3,660 7.00%
    $250k+ 28 $7,700,000 $275,000 $7,275 6.50%

    Srp Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 168 originations. The second most popular income band? $100k-150k, with 155 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 312 $22,830,000 $73,173 $0 0.00%
    20-30% 80 $17,490,000 $218,625 $5,502 6.43%
    30-36% 66 $14,360,000 $217,576 $5,459 6.65%
    <20% 33 $5,705,000 $172,879 $4,779 6.24%
    44% 27 $5,215,000 $193,148 $5,526 6.93%
    49% 25 $4,535,000 $181,400 $4,365 8.57%
    40% 17 $4,605,000 $270,882 $5,960 7.19%
    47% 16 $2,720,000 $170,000 $4,461 7.64%
    41% 14 $3,110,000 $222,143 $6,192 6.76%
    36% 14 $3,180,000 $227,143 $5,921 7.22%
    43% 14 $3,740,000 $267,143 $7,002 6.24%
    38% 13 $1,945,000 $149,615 $4,717 7.68%
    48% 13 $2,305,000 $177,308 $5,616 8.19%
    42% 13 $2,235,000 $171,923 $4,514 7.10%
    37% 12 $2,560,000 $213,333 $5,246 6.97%
    46% 12 $2,390,000 $199,167 $5,085 7.90%
    45% 11 $1,635,000 $148,636 $4,483 7.00%
    >60% 9 $1,975,000 $219,444 $3,408 7.13%
    39% 5 $595,000 $119,000 $3,905 6.35%
    50-60% 1 $85,000 $85,000 $0 7.63%

    Srp Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 312 originations. The next most common DTI ratio? 20-30%, with 80 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 514 $79,080,000 $153,852 $5,309 6.89%
    Not applicable 23 $23,115,000 $1,005,000 $0 7.23%
    Black 142 $16,870,000 $118,803 $4,912 7.42%
    Not provided 36 $6,120,000 $170,000 $6,178 6.41%
    Asian 7 $1,025,000 $146,429 $5,139 6.90%
    American Indian 9 $685,000 $76,111 $2,895 6.44%
    Native Hawaiian or Islander 3 $185,000 $61,667 $3,088 8.44%

    Approval Rates

    Total approvals of all applications
    84.40%

    Srp Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    87.06%

    Srp Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 312 $22,830,000 $73,173
    NA 422 $104,250,000 $247,038

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    734 $127,080,000 $173,134

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 67 $7,175,000 $107,090 $3,216 8.68%
    40-60% 51 $8,625,000 $169,118 $4,617 6.78%
    60-80% 109 $44,095,000 $404,541 $5,355 6.57%
    80-100% 162 $42,330,000 $261,296 $6,731 6.06%
    Under 20% 33 $2,025,000 $61,364 $2,384 9.68%