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

New York, NY

LEI: 549300R22XCNNGVXRO22

Tax ID: 13-5617009

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Mortgage Data

Review & Overview

Self Reliance Ny Federal Credit Union is a smaller credit union specializing in 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, Philadelphia, Poughkeepsie, Bridgeport, and Key West among others. We have data for 16 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 an above average pick rate when compared to similar lenders. Self Reliance Ny Federal Credit Union is typically a high 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 Purchase 5.10% 3/28/24
30 Year Cash-out Refi 4.80% 3/28/24
15 Year Conventional Purchase 5.38% 3/28/24
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

244

Origination Dollar Volume (All Markets)

$157,900,000

Awards

SELF RELIANCE NY Federal Credit Union 30 Year Conventional Loans silver
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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 205 $137,855,000 $672,463 $6,923 3.28%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 10 $6,840,000 $684,000 $6,477 3.56%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 8 $4,130,000 $516,250 $4,278 3.11%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 2 $1,760,000 $880,000 $3,148 3.34%
Key West, FL (FHA|USDA|VA) 1 $1,475,000 $1,475,000 $4,543 2.85%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $1,215,000 $405,000 $4,086 2.87%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $915,000 $915,000 $0 4.13%
KINGSTON, NY (FHA|USDA|VA) 3 $735,000 $245,000 $3,995 3.09%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $725,000 $241,667 $3,674 2.68%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $505,000 $505,000 $4,754 2.95%
Outside of Metro Areas 2 $420,000 $210,000 $4,937 3.10%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $415,000 $415,000 $4,135 2.95%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $365,000 $365,000 $4,175 2.85%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $265,000 $265,000 $620 2.85%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $165,000 $165,000 $4,411 2.40%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $115,000 $115,000 $3,320 2.85%
Self Reliance Ny Federal Credit Union's top markets include New York, Philadelphia, Poughkeepsie, Bridgeport, and Key West among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 244 $157,900,000 $647,131 $6,412 3.26%

    For 2021, Self Reliance Ny Federal Credit Union's most frequently originated type of loan was Conventional, with 244 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 181 $126,725,000 $700,138 $6,171 3.33%
    Home Purchase 63 $31,175,000 $494,841 $6,811 3.07%

    For 2021, Self Reliance Ny Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 181 originations. The 2nd most popular reason was Home Purchase, with 63 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 77 $61,055,000 $792,922 $4,937 3.80%
    Other 54 $33,990,000 $629,444 $4,968 3.13%
    30 Year 51 $33,745,000 $661,667 $8,330 2.94%
    15 Year 42 $17,470,000 $415,952 $5,386 3.11%
    20 Year 20 $11,640,000 $582,000 $5,543 2.66%

    For 2021, Self Reliance Ny Federal Credit Union's most frequently cited loan duration was 10 Year, with 77 originations. The 2nd most popular length was Other, with 54 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 130 $73,020,000 $561,692

    Self Reliance Ny Federal Credit Union's average total fees were $8,330, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 130 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 109 $75,025,000 $688,303
    2.5-3% 101 $59,835,000 $592,426
    <2.5% 26 $12,080,000 $464,615
    4-5% 8 $10,960,000 $1,370,000

    During 2021, Self Reliance Ny Federal Credit Union's average interest rate for loans was 2.94%, while their most frequently originated rate bucket for loans was 3-4%, with 109 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 68 $21,320,000 $313,529 $4,929 3.10%
    $400k-600k 64 $30,960,000 $483,750 $5,967 3.27%
    $600k-1MM 56 $41,750,000 $745,536 $5,575 3.47%
    $1MM+ 37 $61,115,000 $1,651,757 $15,117 3.42%
    $100k-200k 17 $2,595,000 $152,647 $3,706 2.92%
    $100,000 or less 2 $160,000 $80,000 $4,312 2.70%

    2021 saw Self Reliance Ny Federal Credit Union place emphasis on $200k-400k loans with 68 originations, totaling $21,320,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 41 $32,585,000 $794,756 $8,012 3.01%
    $100k-150k 34 $15,040,000 $442,353 $5,698 2.83%
    $150k-250k 31 $14,535,000 $468,871 $5,892 2.81%
    $75k-100k 18 $8,300,000 $461,111 $6,103 2.94%
    $50k-75k 11 $3,725,000 $338,636 $6,247 2.89%
    $50k or less 3 $405,000 $135,000 $3,555 2.70%

    Self Reliance Ny Federal Credit Union lent most frequently to those with incomes in the $250k+ range, with 41 originations. The second most popular income band? $100k-150k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 67 $32,095,000 $479,030 $5,784 2.97%
    20-30% 25 $16,005,000 $640,200 $5,390 2.85%
    >60% 14 $9,940,000 $710,000 $9,957 2.86%
    50-60% 9 $3,885,000 $431,667 $5,281 2.71%
    30-36% 7 $3,625,000 $517,857 $7,904 2.69%
    38% 3 $1,065,000 $355,000 $4,753 3.10%
    40% 3 $1,165,000 $388,333 $3,843 2.50%
    36% 2 $1,300,000 $650,000 $12,081 2.95%
    37% 2 $1,630,000 $815,000 $6,418 2.98%
    49% 2 $1,230,000 $615,000 $5,402 2.95%
    45% 1 $1,175,000 $1,175,000 $8,157 2.80%
    47% 1 $265,000 $265,000 $9,405 2.40%
    48% 1 $525,000 $525,000 $5,915 2.95%
    41% 1 $345,000 $345,000 $7,533 2.95%
    42% 1 $795,000 $795,000 $8,725 2.95%
    43% 1 $365,000 $365,000 $5,407 2.75%

    Self Reliance Ny Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 67 originations. The next most common DTI ratio? 20-30%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 138 $77,620,000 $562,464 $6,532 2.94%
    Not applicable 98 $77,360,000 $789,388 $7,873 3.75%
    Not provided 8 $2,920,000 $365,000 $3,749 2.80%

    Approval Rates

    Total approvals of all applications
    100.00%

    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
    95.49%

    Self Reliance Ny Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 244 $157,900,000 $647,131

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    244 $157,900,000 $647,131

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $12,070,000 $431,071 $5,568 3.23%
    40-60% 77 $52,075,000 $676,299 $5,943 3.28%
    60-80% 110 $75,190,000 $683,545 $7,076 3.28%
    80-100% 18 $11,960,000 $664,444 $6,160 2.93%
    Under 20% 11 $6,605,000 $600,455 $5,206 3.57%