Self Reliance Ny Federal Credit Union Mortgage Rates, Fees & Info

New York, NY

LEI: 549300R22XCNNGVXRO22

Tax ID: 13-5617009

5 stars - Updated: 7/11/24 - out of 5 stars, based on 12 reviews

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

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Mortgage Data

Review & Overview

Self Reliance Ny Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Self Reliance Ny Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New York, Bridgeport, Houston, Philadelphia, and Kingston among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

Self Reliance Ny 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. Self Reliance Ny 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 relatively high 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 5.10% 7/11/24
30 Year Cash-out Refi 4.80% 7/11/24
15 Year Conventional Purchase 5.38% 7/11/24
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.

Self Reliance Ny 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 Self Reliance Ny 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

133

Origination Dollar Volume (All Markets)

$111,045,000

Awards

SELF RELIANCE NY Federal Credit Union 30 Year Conventional Loans gold SELF RELIANCE NY Federal Credit Union 30 Year Conventional Loans gold SELF RELIANCE NY Federal Credit Union 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Self Reliance Ny Federal Credit Union's average 30 year fixed mortgage rate was 5.75%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.73%.

Relative Fees (Closing Costs)

Self Reliance Ny Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,022.

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 $9,089.

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 101 $93,725,000 $927,970 $4,570 5.66%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 8 $6,350,000 $793,750 $6,708 5.61%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $3,005,000 $3,005,000 $16,926 4.95%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5 $2,355,000 $471,000 $5,557 5.96%
Outside of Metro Areas 4 $1,200,000 $300,000 $4,094 5.56%
KINGSTON, NY (FHA|USDA|VA) 5 $1,055,000 $211,000 $3,841 5.81%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $9,855 5.20%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $830,000 $415,000 $5,744 5.73%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $490,000 $245,000 $4,282 5.75%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $475,000 $475,000 $3,494 6.75%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 5.60%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $195,000 $195,000 $0 5.60%
ROCHESTER, NY (FHA|USDA|VA) 1 $155,000 $155,000 $2,288 4.95%
Self Reliance Ny Federal Credit Union's top markets include New York, Bridgeport, Houston, Philadelphia, and Kingston among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against SELF RELIANCE NY Federal 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 133 $111,045,000 $834,925 $4,869 5.66%

    For 2023, Self Reliance Ny Federal Credit Union's most frequently originated type of loan was Conventional, with 133 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 76 $40,940,000 $538,684 $4,927 5.73%
    Cash Out Refi 57 $70,105,000 $1,229,912 $4,535 5.58%

    For 2023, Self Reliance Ny Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 76 originations. The 2nd most popular reason was Cash Out Refi, with 57 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 58 $76,530,000 $1,319,483 $0 5.59%
    30 Year 56 $27,830,000 $496,964 $5,022 5.75%
    Other 8 $2,920,000 $365,000 $4,692 5.77%
    15 Year 6 $1,960,000 $326,667 $4,474 5.44%
    20 Year 5 $1,805,000 $361,000 $3,913 5.62%

    For 2023, Self Reliance Ny Federal Credit Union's most frequently cited loan duration was 10 Year, with 58 originations. The 2nd most popular length was 30 Year, with 56 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 68 $31,120,000 $457,647

    Self Reliance Ny Federal Credit Union's average total fees were $5,022, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 68 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 79 $83,355,000 $1,055,127
    6-7% 33 $14,705,000 $445,606
    4-5% 21 $12,985,000 $618,333

    During 2023, Self Reliance Ny Federal Credit Union's average interest rate for loans was 5.75%, while their most frequently originated rate bucket for loans was 5-6%, with 79 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 43 $12,805,000 $297,791 $4,017 5.66%
    $600k-1MM 29 $21,235,000 $732,241 $5,463 5.57%
    $400k-600k 26 $13,410,000 $515,769 $5,665 5.77%
    $1MM+ 25 $62,225,000 $2,489,000 $11,436 5.73%
    $100k-200k 8 $1,210,000 $151,250 $3,154 5.48%
    $100,000 or less 2 $160,000 $80,000 $3,680 5.50%

    2023 saw Self Reliance Ny Federal Credit Union place emphasis on $200k-400k loans with 43 originations, totaling $12,805,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 26 $10,630,000 $408,846 $4,526 5.84%
    $100k-150k 17 $6,315,000 $371,471 $4,469 5.88%
    $250k+ 14 $9,060,000 $647,143 $5,951 5.49%
    $75k-100k 5 $1,045,000 $209,000 $2,836 5.45%
    $50k-75k 2 $400,000 $200,000 $4,811 5.30%
    $50k or less 1 $65,000 $65,000 $3,680 6.10%

    Self Reliance Ny Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 26 originations. The second most popular income band? $100k-150k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 22 $9,530,000 $433,182 $4,694 5.67%
    20-30% 16 $5,430,000 $339,375 $4,132 5.85%
    <20% 8 $3,870,000 $483,750 $5,430 5.47%
    38% 7 $3,215,000 $459,286 $4,870 5.92%
    41% 4 $920,000 $230,000 $3,206 5.86%
    40% 3 $1,105,000 $368,333 $5,280 5.73%
    36% 3 $1,595,000 $531,667 $5,137 5.43%
    37% 2 $1,710,000 $855,000 $6,364 6.10%
    39% 1 $245,000 $245,000 $5,386 5.40%

    Self Reliance Ny Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 22 originations. The next most common DTI ratio? 20-30%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 45 $70,225,000 $1,560,556 $4,658 5.66%
    White 86 $40,270,000 $468,256 $4,873 5.66%
    Not provided 2 $550,000 $275,000 $4,850 5.68%

    Approval Rates

    Total approvals of all applications
    95.45%

    Self Reliance Ny 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
    89.47%

    Self Reliance Ny Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 133 $111,045,000 $834,925

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    133 $111,045,000 $834,925

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $11,625,000 $611,842 $4,034 5.48%
    40-60% 30 $27,780,000 $926,000 $4,491 5.56%
    60-80% 65 $62,435,000 $960,538 $5,129 5.70%
    80-100% 14 $7,500,000 $535,714 $5,130 6.13%
    Under 20% 5 $1,705,000 $341,000 $4,923 5.21%