Safeamerica Credit Union Mortgage Rates, Fees & Info

PLEASANTON, CA

LEI: 549300OQHPN4174TOC36

Tax ID: 94-1664405

5 stars - Updated: 3/3/24 - out of 5 stars, based on 5 reviews

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

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Mortgage Data

Review & Overview

Safeamerica Credit Union is a smaller credit union specializing in Cash Out Refi loans. Safeamerica Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, San Jose, Stockton, Vallejo, and Chico among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Safeamerica Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Safeamerica 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Refi 6.22% 3/3/24
30 Year Cash-out Refi 5.90% 3/3/24
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.

Safeamerica Credit Union Mortgage Calculator






Your Estimates

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This is not an official calculator from Safeamerica 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

30

Origination Dollar Volume (All Markets)

$17,460,000

Awards

SAFEAMERICA CREDIT UNION 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Safeamerica Credit Union's average 30 year fixed mortgage rate was 3.06%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -1.7%.

Relative Fees (Closing Costs)

Safeamerica Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,028.

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 $4,750.

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
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 18 $10,680,000 $593,333 $2,933 2.98%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $2,905,000 $968,333 $3,675 2.83%
STOCKTON, CA (FHA|USDA|VA) 4 $1,910,000 $477,500 $2,952 2.99%
VALLEJO, CA (FHA|USDA|VA) 3 $1,555,000 $518,333 $3,076 2.83%
CHICO, CA (FHA|USDA|VA) 1 $205,000 $205,000 $2,433 2.99%
Clearlake, CA (FHA|USDA|VA) 1 $205,000 $205,000 $2,453 2.99%
Safeamerica Credit Union's top markets include San Francisco, San Jose, Stockton, Vallejo, and Chico among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Similar Lenders

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

    ALL WESTERN MORTGAGE, INC.
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 30 $17,460,000 $582,000 $2,992 2.95%

    For 2022, Safeamerica Credit Union's most frequently originated type of loan was Conventional, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 27 $15,025,000 $556,481 $3,031 2.96%
    Refi 3 $2,435,000 $811,667 $2,639 2.91%

    For 2022, Safeamerica Credit Union's most frequently cited loan purpose was Cash Out Refi, with 27 originations. The 2nd most popular reason was Refi, with 3 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 22 $11,740,000 $533,636 $3,028 3.06%
    15 Year 5 $3,025,000 $605,000 $2,822 2.50%
    20 Year 3 $2,695,000 $898,333 $3,006 2.92%

    For 2022, Safeamerica Credit Union's most frequently cited loan duration was 30 Year, with 22 originations. The 2nd most popular length was 15 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 27 $14,775,000 $547,222
    $<1k 3 $2,685,000 $895,000

    Safeamerica Credit Union's average total fees were $3,028, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 27 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 21 $12,075,000 $575,000
    <2.5% 5 $3,025,000 $605,000
    3-4% 4 $2,360,000 $590,000

    During 2022, Safeamerica Credit Union's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 2.5-3%, with 21 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 12 $3,480,000 $290,000 $2,610 2.95%
    $400k-600k 7 $3,525,000 $503,571 $2,964 2.99%
    $600k-1MM 6 $4,610,000 $768,333 $3,502 2.99%
    $1MM+ 4 $5,650,000 $1,412,500 $3,858 2.94%
    $100k-200k 1 $195,000 $195,000 $1,238 2.50%

    2022 saw Safeamerica Credit Union place emphasis on $200k-400k loans with 12 originations, totaling $3,480,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 10 $5,700,000 $570,000 $2,921 2.97%
    $100k-150k 7 $3,375,000 $482,143 $3,056 2.89%
    $250k+ 5 $5,995,000 $1,199,000 $3,662 2.84%
    $75k-100k 4 $1,450,000 $362,500 $2,715 3.12%
    $50k-75k 2 $510,000 $255,000 $2,555 2.99%
    $50k or less 2 $430,000 $215,000 $2,433 2.99%

    Safeamerica Credit Union lent most frequently to those with incomes in the $150k-250k range, with 10 originations. The second most popular income band? $100k-150k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 10 $4,580,000 $458,000 $2,928 2.89%
    40% 4 $2,670,000 $667,500 $3,565 3.25%
    37% 4 $2,260,000 $565,000 $3,017 2.87%
    20-30% 3 $2,995,000 $998,333 $2,622 2.75%
    41% 3 $1,275,000 $425,000 $2,865 2.99%
    <20% 2 $1,040,000 $520,000 $2,428 2.99%
    42% 2 $780,000 $390,000 $2,952 2.99%
    38% 1 $1,555,000 $1,555,000 $4,359 2.50%
    39% 1 $305,000 $305,000 $2,556 3.50%

    Safeamerica Credit Union lent most frequently to those with DTI ratios of 30-36%, with 10 originations. The next most common DTI ratio? 40%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 18 $9,900,000 $550,000 $2,859 2.97%
    Asian 5 $4,665,000 $933,000 $3,586 2.89%
    Not provided 5 $2,145,000 $429,000 $2,924 2.94%
    Black 2 $750,000 $375,000 $2,872 2.99%

    Approval Rates

    Total approvals of all applications
    91.67%

    Safeamerica Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.00%

    Safeamerica Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 30 $17,460,000 $582,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    30 $17,460,000 $582,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $2,000,000 $500,000 $3,026 3.00%
    40-60% 14 $8,280,000 $591,429 $3,091 2.96%
    60-80% 6 $4,290,000 $715,000 $2,995 2.95%
    80-100% 3 $2,165,000 $721,667 $3,356 2.99%
    Under 20% 3 $725,000 $241,667 $2,109 2.83%