Safeamerica Credit Union Mortgage Rates, Fees & Info
PLEASANTON, CALEI: 549300OQHPN4174TOC36
Tax ID: 94-1664405
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Mortgage Data
Review & Overview
Safeamerica Credit Union is a smaller credit union specializing in Refi and 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, Sacramento, and Modesto among others. We have data for 8 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Refi | 6.22% | 11/21/24 |
| 30 Year Cash-out Refi | 5.90% | 11/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
53Origination Dollar Volume (All Markets)
$25,235,000Awards
SAFEAMERICA CREDIT UNION - 2019
SAFEAMERICA CREDIT UNION is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 33 | $16,155,000 | $489,545 | $2,889 | 3.65% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 7 | $4,615,000 | $659,286 | $3,029 | 3.79% |
| STOCKTON, CA (FHA|USDA|VA) | 6 | $1,880,000 | $313,333 | $2,965 | 3.54% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $870,000 | $435,000 | $3,063 | 3.50% |
| MODESTO, CA (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $2,973 | 3.44% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $2,005 | 3.50% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,198 | 4.50% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $500 | 5.13% |
Their top states include:
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 53 | $25,235,000 | $476,132 | $2,870 | 3.68% |
For 2019, Safeamerica Credit Union's most frequently originated type of loan was Conventional, with 53 originations.
Loan Reason
For 2019, Safeamerica Credit Union's most frequently cited loan purpose was Refi, with 28 originations. The 2nd most popular reason was Cash Out Refi, with 24 originations.
Loan Duration/Length
For 2019, Safeamerica Credit Union's most frequently cited loan duration was 30 Year, with 44 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 | 46 | $23,050,000 | $501,087 |
| $<1k | 6 | $2,150,000 | $358,333 |
Safeamerica Credit Union's average total fees were $3,013, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 46 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 48 | $23,860,000 | $497,083 |
| 5-6% | 3 | $175,000 | $58,333 |
| 4-5% | 2 | $1,200,000 | $600,000 |
During 2019, Safeamerica Credit Union's average interest rate for loans was 3.51%, while their most frequently originated rate bucket for loans was 3-4%, with 48 originations.
Loan Sizing
2019 saw Safeamerica Credit Union place emphasis on $400k-600k loans with 20 originations, totaling $9,850,000 in origination value.
Applicant Income
Safeamerica Credit Union lent most frequently to those with incomes in the $150k-250k range, with 18 originations. The second most popular income band? $100k-150k, with 16 originations.
Applicant Debt to Income Ratio
Safeamerica Credit Union lent most frequently to those with DTI ratios of 30-36%, with 17 originations. The next most common DTI ratio? 42%, with 8 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.48%
Safeamerica Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination94.34%
Safeamerica Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 53 | $25,235,000 | $476,132 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 53 | $25,235,000 | $476,132 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SoFi Mortgage, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 4 | 80.0% |
| SoFi Mortgage, LLC | Conventional home mortgage | Closing on a mortgage | 1 | 20.0% |