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 loans. Srp Federal Credit Union has an average proportion of conventional 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 14 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.46% 4/28/24
    30 Year Conventional Refi 6.33% 4/28/24
    30 Year Cash-out Refi 6.76% 4/28/24
    30 Year FHA Purchase 7.41% 4/28/24
    30 Year VA Purchase 6.17% 4/28/24
    30 Year VA Refi 6.00% 4/28/24
    15 Year Conventional Purchase 6.77% 4/28/24
    15 Year Conventional Refi 6.45% 4/28/24
    15 Year Cash-out Refi 6.45% 4/28/24
    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

    754

    Origination Dollar Volume (All Markets)

    $102,000,000

    Awards

    SRP Federal Credit Union VA Loans gold SRP Federal Credit Union VA Loans gold
    Show all (2) 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) 675 $92,465,000 $136,985 $5,539 4.66%
    Outside of Metro Areas 50 $5,570,000 $111,400 $4,953 4.78%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 9 $1,405,000 $156,111 $6,539 5.08%
    COLUMBIA, SC (FHA|USDA|VA) 6 $770,000 $128,333 $6,176 4.63%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $540,000 $270,000 $8,139 4.25%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $375,000 $375,000 $7,271 4.25%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 3 $285,000 $95,000 $6,152 3.75%
    Bennettsville, SC (FHA|USDA|VA) 1 $105,000 $105,000 $4,273 4.25%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $105,000 $105,000 $4,280 2.88%
    FLORENCE, SC (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Milledgeville, GA (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Orangeburg, SC (FHA|USDA|VA) 2 $70,000 $35,000 $0 0.00%
    Vidalia, GA (FHA|USDA|VA) 1 $65,000 $65,000 $3,886 2.63%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    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.

    FIRST CHOICE MORTGAGE, INC.
    Similarity Rank: 370
    Security Federal Bank
    Similarity Rank: 776
    Coastal Carolina National Bank
    Similarity Rank: 840
    Deere Employees Credit Union
    Similarity Rank: 954
    AUGUSTA MORTGAGE CO.
    Similarity Rank: 1025
    First Community Bank
    Similarity Rank: 1078
    SRP Federal Credit Union
    Similarity Rank: 1498
    TD Bank
    Similarity Rank: 2106
    Associated Credit Union
    Similarity Rank: 3159
    First-Citizens Bank & Trust Company
    Similarity Rank: 4410

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 421 $27,275,000 $64,786 $0 0.00%
    Conventional 268 $60,840,000 $227,015 $4,814 4.65%
    FHA 48 $9,290,000 $193,542 $8,680 4.69%
    VA 17 $4,595,000 $270,294 $6,097 4.68%

    For 2022, Srp Federal Credit Union's most frequently originated type of loan was Conventional, with 421 originations. Their 2nd most popular type was Conventional, with 268 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 306 $20,350,000 $66,503 $0 0.00%
    Home Purchase 195 $49,265,000 $252,641 $6,392 4.73%
    Cash Out Refi 124 $16,640,000 $134,194 $4,147 4.69%
    Home Improvement 73 $4,255,000 $58,288 $0 0.00%
    Refi 56 $11,490,000 $205,179 $4,260 4.03%

    For 2022, Srp Federal Credit Union's most frequently cited loan purpose was Other, with 306 originations. The 2nd most popular reason was Home Purchase, with 195 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 432 $29,130,000 $67,431 $4,337 5.69%
    30 Year 242 $51,190,000 $211,529 $5,953 4.63%
    15 Year 40 $4,320,000 $108,000 $3,741 4.67%
    5 Year 19 $10,275,000 $540,789 $1,411 5.08%
    10 Year 17 $6,465,000 $380,294 $3,048 3.94%
    20 Year 4 $620,000 $155,000 $5,032 4.53%

    For 2022, Srp Federal Credit Union's most frequently cited loan duration was Other, with 432 originations. The 2nd most popular length was 30 Year, with 242 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 115 $20,285,000 $176,391
    $1k-2k 84 $7,200,000 $85,714
    $3k-4k 59 $15,255,000 $258,559
    $4k-5k 17 $5,745,000 $337,941
    $5k+ 17 $7,425,000 $436,765
    $<1k 10 $1,200,000 $120,000

    Srp Federal Credit Union's average total fees were $5,953, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 115 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 97 $28,335,000 $292,113
    5-6% 92 $20,210,000 $219,674
    4-5% 72 $14,100,000 $195,833
    6-7% 34 $5,650,000 $166,176
    2.5-3% 31 $5,835,000 $188,226
    7-8% 6 $550,000 $91,667
    Over 8% 1 $45,000 $45,000

    During 2022, Srp Federal Credit Union's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 3-4%, with 97 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 418 $21,630,000 $51,746 $3,100 4.77%
    $100k-200k 196 $27,900,000 $142,347 $4,941 4.73%
    $200k-400k 121 $31,505,000 $260,372 $6,947 4.60%
    $400k-600k 13 $6,165,000 $474,231 $8,399 4.30%
    $1MM+ 4 $13,270,000 $3,317,500 $0 4.13%
    $600k-1MM 2 $1,530,000 $765,000 $12,296 2.75%

    2022 saw Srp Federal Credit Union place emphasis on $100,000 or less loans with 418 originations, totaling $21,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 181 $21,525,000 $118,923 $5,522 4.74%
    $100k-150k 165 $19,345,000 $117,242 $5,961 4.74%
    $75k-100k 142 $15,920,000 $112,113 $5,564 4.75%
    $50k or less 122 $10,330,000 $84,672 $4,637 4.33%
    $150k-250k 90 $13,250,000 $147,222 $7,294 4.69%
    $250k+ 22 $4,080,000 $185,455 $7,923 4.51%

    Srp Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 181 originations. The second most popular income band? $100k-150k, with 165 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 421 $27,275,000 $64,786 $0 0.00%
    20-30% 74 $12,620,000 $170,541 $4,992 4.43%
    30-36% 52 $9,800,000 $188,462 $5,351 4.73%
    <20% 22 $2,760,000 $125,455 $3,964 4.44%
    44% 20 $4,390,000 $219,500 $6,059 4.58%
    41% 17 $3,545,000 $208,529 $5,799 4.55%
    42% 16 $3,420,000 $213,750 $7,206 4.72%
    37% 14 $2,790,000 $199,286 $5,942 4.79%
    39% 13 $2,735,000 $210,385 $5,554 4.89%
    40% 11 $1,675,000 $152,273 $4,928 4.45%
    38% 11 $2,025,000 $184,091 $5,474 4.75%
    43% 10 $1,860,000 $186,000 $5,978 4.51%
    36% 9 $2,065,000 $229,444 $4,777 4.76%
    49% 8 $1,970,000 $246,250 $6,891 4.77%
    45% 8 $1,410,000 $176,250 $6,306 4.53%
    46% 7 $1,595,000 $227,857 $7,608 4.71%
    47% 6 $1,280,000 $213,333 $5,895 4.58%
    50-60% 4 $1,190,000 $297,500 $6,705 5.09%
    48% 2 $260,000 $130,000 $4,769 5.06%

    Srp Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 421 originations. The next most common DTI ratio? 20-30%, with 74 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 522 $59,160,000 $113,333 $5,414 4.57%
    Black 129 $17,175,000 $133,140 $5,973 4.73%
    Not applicable 24 $16,770,000 $698,750 $0 4.99%
    Not provided 59 $5,945,000 $100,763 $4,953 4.88%
    Asian 11 $1,625,000 $147,727 $4,860 5.08%
    American Indian 6 $890,000 $148,333 $7,367 4.08%
    Other Pacific Islander 2 $260,000 $130,000 $4,335 5.44%
    Asian Indian 1 $175,000 $175,000 $4,496 4.25%

    Approval Rates

    Total approvals of all applications
    87.13%

    Srp Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.22%

    Srp Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 421 $27,275,000 $64,786
    NA 333 $74,725,000 $224,399

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    754 $102,000,000 $135,279

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $1,725,000 $101,471 $3,619 5.14%
    40-60% 49 $6,115,000 $124,796 $3,848 4.47%
    60-80% 104 $29,140,000 $280,192 $4,982 4.54%
    80-100% 158 $37,500,000 $237,342 $6,565 4.68%
    Under 20% 5 $245,000 $49,000 $1,745 6.70%