Safeamerica Credit Union Mortgage Rates, Fees & Info

PLEASANTON, CA

LEI: 549300OQHPN4174TOC36

Tax ID: 94-1664405

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    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 Sacramento among others. We have data for 15 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% 5/4/24
    30 Year Cash-out Refi 5.90% 5/4/24
    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

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    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

    129

    Origination Dollar Volume (All Markets)

    $66,995,000

    Awards

    SAFEAMERICA CREDIT UNION 30 Year Conventional Loans gold
    Show all (1) 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
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 87 $46,105,000 $529,943 $2,928 2.92%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 12 $8,210,000 $684,167 $2,946 2.93%
    STOCKTON, CA (FHA|USDA|VA) 8 $2,770,000 $346,250 $2,692 2.96%
    VALLEJO, CA (FHA|USDA|VA) 5 $2,395,000 $479,000 $3,034 2.99%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 4 $1,760,000 $440,000 $3,126 2.99%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $1,530,000 $765,000 $3,720 2.99%
    MODESTO, CA (FHA|USDA|VA) 2 $1,110,000 $555,000 $3,050 2.75%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 2 $890,000 $445,000 $2,980 2.99%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $755,000 $755,000 $3,334 3.50%
    NAPA, CA (FHA|USDA|VA) 1 $625,000 $625,000 $1,983 2.99%
    VISALIA, CA (FHA|USDA|VA) 1 $275,000 $275,000 $2,582 2.99%
    SALINAS, CA (FHA|USDA|VA) 1 $175,000 $175,000 $2,456 2.99%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $155,000 $155,000 $2,542 2.50%
    CHICO, CA (FHA|USDA|VA) 1 $135,000 $135,000 $2,715 2.50%
    Clearlake, CA (FHA|USDA|VA) 1 $105,000 $105,000 $2,612 2.99%
    Safeamerica Credit Union's top markets include San Francisco, San Jose, Stockton, Vallejo, and Sacramento 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.

    1ST NORTHERN CALIFORNIA
    Similarity Rank: 1164
    WINNPOINTE CORPORATION
    Similarity Rank: 1278
    Provident Savings Bank, F.S.B.
    Similarity Rank: 1792
    VICTORIA FINANCIAL CORP.
    Similarity Rank: 1808
    SAN FRANCISCO FEDERAL CREDIT UNION
    Similarity Rank: 2191
    T. J. FINANCIAL, INC.
    Similarity Rank: 2674
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 2715
    SAFEAMERICA CREDIT UNION
    Similarity Rank: 2895
    PRIVATE MORTGAGE ADVISORS, LLC
    Similarity Rank: 3110
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 3132

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 129 $66,995,000 $519,341 $2,922 2.93%

    For 2021, Safeamerica Credit Union's most frequently originated type of loan was Conventional, with 129 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 96 $53,250,000 $554,688 $2,959 2.94%
    Refi 28 $11,070,000 $395,357 $2,685 2.87%
    Home Improvement 3 $1,215,000 $405,000 $2,132 2.99%
    Home Purchase 2 $1,460,000 $730,000 $5,687 2.99%

    For 2021, Safeamerica Credit Union's most frequently cited loan purpose was Cash Out Refi, with 96 originations. The 2nd most popular reason was Refi, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 106 $56,660,000 $534,528 $2,979 3.00%
    15 Year 17 $7,195,000 $423,235 $2,640 2.53%
    20 Year 4 $1,920,000 $480,000 $2,985 2.69%
    10 Year 1 $115,000 $115,000 $2,442 2.50%
    Other 1 $1,105,000 $1,105,000 $1,963 2.99%

    For 2021, Safeamerica Credit Union's most frequently cited loan duration was 30 Year, with 106 originations. The 2nd most popular length was 15 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 116 $59,430,000 $512,328
    $<1k 13 $7,565,000 $581,923

    Safeamerica Credit Union's average total fees were $2,979, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 116 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 106 $57,130,000 $538,962
    <2.5% 18 $7,510,000 $417,222
    3-4% 5 $2,355,000 $471,000

    During 2021, Safeamerica Credit Union's average interest rate for loans was 3.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 106 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 42 $30,850,000 $734,524 $3,353 2.93%
    $200k-400k 31 $9,195,000 $296,613 $2,510 2.94%
    $400k-600k 27 $13,735,000 $508,704 $2,976 2.94%
    $100k-200k 21 $3,015,000 $143,571 $2,369 2.85%
    $1MM+ 8 $10,200,000 $1,275,000 $3,529 2.99%

    2021 saw Safeamerica Credit Union place emphasis on $600k-1MM loans with 42 originations, totaling $30,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 48 $29,660,000 $617,917 $2,954 2.89%
    $100k-150k 28 $11,530,000 $411,786 $2,730 2.94%
    $250k+ 22 $17,950,000 $815,909 $3,494 2.95%
    $75k-100k 17 $5,305,000 $312,059 $2,763 2.95%
    $50k or less 8 $1,030,000 $128,750 $2,489 2.99%
    $50k-75k 6 $1,520,000 $253,333 $2,503 2.99%

    Safeamerica Credit Union lent most frequently to those with incomes in the $150k-250k range, with 48 originations. The second most popular income band? $100k-150k, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 42 $17,060,000 $406,190 $2,622 2.90%
    30-36% 19 $8,265,000 $435,000 $2,767 2.95%
    42% 15 $9,635,000 $642,333 $3,111 2.99%
    <20% 13 $7,235,000 $556,538 $2,957 2.84%
    41% 13 $7,225,000 $555,769 $3,093 3.03%
    38% 10 $6,040,000 $604,000 $2,998 2.87%
    39% 7 $4,195,000 $599,286 $3,118 2.85%
    40% 4 $1,910,000 $477,500 $2,986 3.00%
    36% 3 $2,595,000 $865,000 $4,735 2.99%
    37% 2 $1,880,000 $940,000 $3,569 2.99%
    44% 1 $955,000 $955,000 $3,889 2.99%

    Safeamerica Credit Union lent most frequently to those with DTI ratios of 20-30%, with 42 originations. The next most common DTI ratio? 30-36%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 73 $31,955,000 $437,740 $2,747 2.93%
    Asian 21 $16,685,000 $794,524 $3,289 2.92%
    Not provided 21 $11,135,000 $530,238 $2,849 2.89%
    Black 9 $4,295,000 $477,222 $3,063 2.96%
    Native Hawaiian or Islander 2 $1,290,000 $645,000 $5,146 2.99%
    American Indian 2 $1,080,000 $540,000 $3,154 2.99%
    Other Pacific Islander 1 $555,000 $555,000 $3,373 2.99%

    Approval Rates

    Total approvals of all applications
    95.80%

    Safeamerica 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
    94.57%

    Safeamerica Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 129 $66,995,000 $519,341

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    129 $66,995,000 $519,341

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $11,520,000 $443,077 $2,770 2.89%
    40-60% 40 $19,920,000 $498,000 $2,760 2.94%
    60-80% 41 $27,555,000 $672,073 $3,220 2.97%
    80-100% 8 $5,790,000 $723,750 $3,796 2.96%
    Under 20% 14 $2,210,000 $157,857 $2,298 2.82%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    SoFi Mortgage, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 57.1%
    SoFi Mortgage, LLC Conventional home mortgage Closing on a mortgage 1 14.3%
    SoFi Mortgage, LLC Conventional home mortgage Trouble during payment process 2 28.6%