Srp Federal Credit Union Mortgage Rates, Fees & Info

North Augusta, SC

LEI: 549300K80E72C24ZOJ37

Tax ID: 57-0621127

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

    Srp Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Srp Federal Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Augusta, Atlanta, Columbia, Charleston, and Hilton Head Island among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Srp Federal Credit Union has an above 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 an average 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 6.46% 12/16/24
    30 Year Conventional Refi 6.33% 12/16/24
    30 Year Cash-out Refi 6.76% 12/16/24
    30 Year FHA Purchase 7.41% 12/16/24
    30 Year VA Purchase 6.17% 12/16/24
    30 Year VA Refi 6.00% 12/16/24
    15 Year Conventional Purchase 6.77% 12/16/24
    15 Year Conventional Refi 6.45% 12/16/24
    15 Year Cash-out Refi 6.45% 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.

    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

    777

    Origination Dollar Volume (All Markets)

    $115,665,000

    Awards

    SRP Federal Credit Union VA Loans bronze SRP Federal Credit Union 30 Year Conventional Loans bronze SRP Federal Credit Union FHA Loans silver SRP Federal Credit Union VA 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
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 709 $104,965,000 $148,047 $4,486 4.48%
    Outside of Metro Areas 33 $4,015,000 $121,667 $4,207 4.33%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 10 $1,990,000 $199,000 $5,534 4.49%
    COLUMBIA, SC (FHA|USDA|VA) 10 $1,840,000 $184,000 $4,213 4.49%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $710,000 $355,000 $11,270 4.56%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 3 $595,000 $198,333 $6,494 3.92%
    Orangeburg, SC (FHA|USDA|VA) 4 $440,000 $110,000 $4,696 4.30%
    GAINESVILLE, GA (FHA|USDA|VA) 1 $335,000 $335,000 $6,504 4.50%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $285,000 $285,000 $6,372 4.38%
    SAVANNAH, GA (FHA|USDA|VA) 1 $235,000 $235,000 $9,351 4.38%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $200,000 $100,000 $4,533 4.00%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $55,000 $55,000 $3,092 5.13%
    Srp Federal Credit Union's top markets include Augusta, Atlanta, Columbia, Charleston, and Hilton Head Island 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.

    Coastal Carolina National Bank
    Similarity Rank: 372
    AUGUSTA MORTGAGE CO.
    Similarity Rank: 476
    FIRST CHOICE MORTGAGE, INC.
    Similarity Rank: 792
    First Community Bank
    Similarity Rank: 1440
    SRP Federal Credit Union
    Similarity Rank: 1452
    Deere Employees Credit Union
    Similarity Rank: 1467
    Queensborough National Bank & Trust Company
    Similarity Rank: 1568
    CLEARPATH LENDING
    Similarity Rank: 3864
    FRANKLIN AMERICAN MORTGAGE CO
    Similarity Rank: 4264
    South State Bank
    Similarity Rank: 4536

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 554 $80,310,000 $144,964 $3,710 4.53%
    FHA 135 $17,955,000 $133,000 $6,261 4.42%
    VA 87 $17,245,000 $198,218 $6,862 4.16%
    HELOC 1 $155,000 $155,000 n/a 4.00%

    For 2018, Srp Federal Credit Union's most frequently originated type of loan was Conventional, with 554 originations. Their 2nd most popular type was FHA, with 135 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 512 $81,490,000 $159,160 $5,143 4.47%
    Cash Out Refi 212 $24,810,000 $117,028 $3,264 4.50%
    Refi 53 $9,365,000 $176,698 $3,271 4.34%

    For 2018, Srp Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 512 originations. The 2nd most popular reason was Cash Out Refi, with 212 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 562 $87,660,000 $155,979 $4,981 4.51%
    15 Year 104 $14,860,000 $142,885 $3,612 4.58%
    10 Year 69 $7,515,000 $108,913 $2,303 3.99%
    20 Year 28 $4,380,000 $156,429 $4,302 4.30%
    Other 7 $805,000 $115,000 $2,963 4.57%
    5 Year 6 $370,000 $61,667 $1,350 4.83%
    1 Year 1 $75,000 $75,000 $0 5.75%

    For 2018, Srp Federal Credit Union's most frequently cited loan duration was 30 Year, with 562 originations. The 2nd most popular length was 15 Year, with 104 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 284 $28,000,000 $98,592
    $2k-3k 269 $45,145,000 $167,825
    $<1k 118 $12,110,000 $102,627
    $3k-4k 75 $18,565,000 $247,533
    $4k-5k 17 $5,495,000 $323,235
    $5k+ 3 $1,245,000 $415,000

    Srp Federal Credit Union's average total fees were $4,981, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 284 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 511 $78,195,000 $153,023
    3-4% 170 $24,100,000 $141,765
    5-6% 72 $11,020,000 $153,056
    7-8% 9 $315,000 $35,000
    2.5-3% 7 $1,525,000 $217,857
    6-7% 6 $420,000 $70,000
    Over 8% 2 $90,000 $45,000

    During 2018, Srp Federal Credit Union's average interest rate for loans was 4.51%, while their most frequently originated rate bucket for loans was 4-5%, with 511 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 368 $53,810,000 $146,223 $4,796 4.43%
    $100,000 or less 252 $17,010,000 $67,500 $2,974 4.61%
    $200k-400k 148 $37,760,000 $255,135 $6,342 4.34%
    $400k-600k 7 $3,095,000 $442,143 $6,485 4.02%
    $1MM+ 1 $3,335,000 $3,335,000 $0 5.50%
    $600k-1MM 1 $655,000 $655,000 $10,497 4.38%

    2018 saw Srp Federal Credit Union place emphasis on $100k-200k loans with 368 originations, totaling $53,810,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 243 $33,035,000 $135,947 $4,533 4.43%
    $50k or less 243 $26,305,000 $108,251 $4,122 4.54%
    $75k-100k 124 $20,050,000 $161,694 $5,233 4.44%
    $100k-150k 104 $20,810,000 $200,096 $4,685 4.40%
    $150k-250k 45 $8,485,000 $188,556 $4,607 4.53%
    $250k+ 11 $5,885,000 $535,000 $3,390 4.20%

    Srp Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 243 originations. The second most popular income band? $50k or less, with 243 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 174 $24,340,000 $139,885 $4,165 4.44%
    30-36% 137 $19,695,000 $143,759 $4,504 4.49%
    <20% 65 $6,645,000 $102,231 $3,355 4.17%
    44% 34 $4,520,000 $132,941 $4,313 4.51%
    38% 32 $5,240,000 $163,750 $5,015 4.38%
    37% 31 $4,705,000 $151,774 $4,283 4.36%
    41% 30 $4,800,000 $160,000 $4,946 4.55%
    40% 29 $4,085,000 $140,862 $4,578 4.48%
    50-60% 29 $4,285,000 $147,759 $6,168 4.31%
    48% 27 $4,015,000 $148,704 $4,738 4.48%
    45% 27 $4,645,000 $172,037 $5,183 4.47%
    42% 25 $3,835,000 $153,400 $4,567 4.64%
    39% 25 $3,765,000 $150,600 $4,428 4.36%
    43% 25 $3,815,000 $152,600 $5,231 4.82%
    36% 23 $3,415,000 $148,478 $4,442 4.70%
    47% 22 $2,810,000 $127,727 $4,417 4.73%
    46% 19 $3,235,000 $170,263 $5,276 4.44%
    49% 11 $2,385,000 $216,818 $6,336 4.60%
    >60% 3 $515,000 $171,667 $5,906 4.38%

    Srp Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 174 originations. The next most common DTI ratio? 30-36%, with 137 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 560 $83,960,000 $149,929 $4,363 4.43%
    Black 147 $20,295,000 $138,061 $4,831 4.55%
    Not provided 54 $8,380,000 $155,185 $4,908 4.58%
    Asian 8 $1,720,000 $215,000 $7,086 4.30%
    Not applicable 4 $800,000 $200,000 $0 5.25%
    Asian Indian 2 $290,000 $145,000 $0 5.00%
    American Indian 2 $220,000 $110,000 $4,622 4.44%

    Approval Rates

    Total approvals of all applications
    95.11%

    Srp Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    82.50%

    Srp Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 777 $115,665,000 $148,861

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $3,830,000 $1,915,000
    Single Family (1-4 Units):Manufactured 2 $60,000 $30,000
    Single Family (1-4 Units):Site-Built 773 $111,775,000 $144,599

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 48 $3,420,000 $71,250 $2,630 4.31%
    40-60% 69 $7,545,000 $109,348 $3,024 4.32%
    60-80% 189 $31,425,000 $166,270 $3,829 4.45%
    80-100% 436 $68,730,000 $157,638 $5,132 4.46%
    Over 100% 17 $3,835,000 $225,588 $10,188 4.21%
    Under 20% 18 $710,000 $39,444 $1,522 5.95%