Synergy Federal Credit Union Mortgage Rates, Fees & Info

San Antonio, TX

LEI: 549300QEVTCM4MW2YI14

Tax ID: 74-2099014

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Mortgage Data

Review & Overview

Synergy Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Synergy Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: San Antonio, Houston, Corpus Christi, Rockport, and Alice among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Synergy 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.

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Originations

134

Origination Dollar Volume (All Markets)

$23,330,000

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 ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 63 $12,465,000 $197,857 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 24 $4,120,000 $171,667 $0 0.00%
CORPUS CHRISTI, TX (FHA|USDA|VA) 19 $2,235,000 $117,632 $0 0.00%
Outside of Metro Areas 9 $1,385,000 $153,889 $0 0.00%
Rockport, TX (FHA|USDA|VA) 3 $895,000 $298,333 $0 0.00%
Alice, TX (FHA|USDA|VA) 4 $560,000 $140,000 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 4 $420,000 $105,000 $0 0.00%
Beeville, TX (FHA|USDA|VA) 3 $255,000 $85,000 $0 0.00%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 2 $230,000 $115,000 $0 0.00%
Uvalde, TX (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
AMARILLO, TX (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Synergy Federal Credit Union's top markets include San Antonio, Houston, Corpus Christi, Rockport, and Alice among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 134 $23,330,000 $174,104 $0 0.00%

    For 2022, Synergy Federal Credit Union's most frequently originated type of loan was Conventional, with 134 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 54 $11,420,000 $211,481 $0 0.00%
    Home Improvement 37 $2,975,000 $80,405 $0 0.00%
    Other 22 $2,590,000 $117,727 $0 0.00%
    Home Purchase 19 $5,915,000 $311,316 $0 0.00%
    Cash Out Refi 2 $430,000 $215,000 $0 0.00%

    For 2022, Synergy Federal Credit Union's most frequently cited loan purpose was Refi, with 54 originations. The 2nd most popular reason was Home Improvement, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 134 $23,330,000 $174,104 $0 0.00%

    For 2022, Synergy Federal Credit Union's most frequently cited loan duration was Other, with 134 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 56 $3,370,000 $60,179 $0 0.00%
    $100k-200k 42 $5,910,000 $140,714 $0 0.00%
    $200k-400k 21 $5,595,000 $266,429 $0 0.00%
    $400k-600k 12 $6,170,000 $514,167 $0 0.00%
    $600k-1MM 3 $2,285,000 $761,667 $0 0.00%

    2022 saw Synergy Federal Credit Union place emphasis on $100,000 or less loans with 56 originations, totaling $3,370,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 50 $8,710,000 $174,200 $0 0.00%
    $100k-150k 30 $4,460,000 $148,667 $0 0.00%
    $250k+ 24 $7,100,000 $295,833 $0 0.00%
    $75k-100k 15 $1,825,000 $121,667 $0 0.00%
    $50k-75k 10 $800,000 $80,000 $0 0.00%
    $50k or less 5 $435,000 $87,000 $0 0.00%

    Synergy Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 50 originations. The second most popular income band? $100k-150k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 134 $23,330,000 $174,104 $0 0.00%

    Synergy Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 134 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 95 $17,515,000 $184,368 $0 0.00%
    Not provided 32 $4,850,000 $151,563 $0 0.00%
    Asian 2 $490,000 $245,000 $0 0.00%
    Black 4 $350,000 $87,500 $0 0.00%
    American Indian 1 $125,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.10%

    Synergy 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
    84.33%

    Synergy Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 134 $23,330,000 $174,104

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    134 $23,330,000 $174,104