School Systems Fcu Mortgage Rates, Fees & Info

Troy, NY

LEI: 549300RA8E6JQC2S7K66

Tax ID: 14-1439105

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

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Mortgage Data

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

    School Systems Fcu is a smaller credit union specializing in NA loans. School Systems Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Glens Falls, Hudson, Gloversville, and Burlington among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    School Systems Fcu 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.

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    Originations

    61

    Origination Dollar Volume (All Markets)

    $5,215,000

    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
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 54 $4,690,000 $86,852 $367 5.95%
    GLENS FALLS, NY (FHA|USDA|VA) 3 $375,000 $125,000 $0 6.33%
    Outside of Metro Areas 1 $75,000 $75,000 $0 7.75%
    Hudson, NY (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.49%
    Gloversville, NY (FHA|USDA|VA) 1 $15,000 $15,000 $0 2.99%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 1 $5,000 $5,000 $0 3.49%
    School Systems Fcu's top markets include Albany, Glens Falls, Hudson, Gloversville, and Burlington among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 61 $5,215,000 $85,492 $367 5.90%

    For 2023, School Systems Fcu's most frequently originated type of loan was Conventional, with 61 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    NA 32 $3,340,000 $104,375 $0 6.04%
    Other 12 $770,000 $64,167 $395 5.89%
    Home Improvement 8 $340,000 $42,500 $351 5.77%
    Refi 7 $465,000 $66,429 $364 5.35%
    Cash Out Refi 2 $300,000 $150,000 $0 6.25%

    For 2023, School Systems Fcu's most frequently cited loan purpose was NA, with 32 originations. The 2nd most popular reason was Other, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 30 $3,180,000 $106,000 $345 5.90%
    10 Year 15 $935,000 $62,333 $377 6.19%
    15 Year 10 $940,000 $94,000 $363 6.19%
    5 Year 5 $135,000 $27,000 $0 5.04%
    Other 1 $25,000 $25,000 $0 2.99%

    For 2023, School Systems Fcu's most frequently cited loan duration was 20 Year, with 30 originations. The 2nd most popular length was 10 Year, with 15 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 22 $2,250,000 $102,273
    6-7% 11 $775,000 $70,455
    7-8% 9 $1,245,000 $138,333
    4-5% 8 $550,000 $68,750
    3-4% 4 $100,000 $25,000
    Over 8% 4 $240,000 $60,000
    2.5-3% 3 $55,000 $18,333

    During 2023, School Systems Fcu's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 22 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 44 $1,950,000 $44,318 $368 5.73%
    $100k-200k 11 $1,495,000 $135,909 $363 6.29%
    $200k-400k 5 $1,315,000 $263,000 $0 6.65%
    $400k-600k 1 $455,000 $455,000 $0 5.49%

    2023 saw School Systems Fcu place emphasis on $100,000 or less loans with 44 originations, totaling $1,950,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 21 $1,505,000 $71,667 $364 5.50%
    $150k-250k 11 $915,000 $83,182 $395 6.29%
    $75k-100k 10 $700,000 $70,000 $362 6.07%
    $50k or less 9 $585,000 $65,000 $363 6.07%
    $50k-75k 6 $650,000 $108,333 $0 5.53%
    $250k+ 4 $860,000 $215,000 $0 6.68%

    School Systems Fcu lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $150k-250k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 16 $840,000 $52,500 $365 4.98%
    20-30% 12 $1,770,000 $147,500 $0 6.10%
    30-36% 11 $745,000 $67,727 $0 5.90%
    40% 4 $250,000 $62,500 $364 7.18%
    37% 4 $330,000 $82,500 $325 6.24%
    39% 3 $175,000 $58,333 $395 7.07%
    38% 3 $175,000 $58,333 $365 5.49%
    36% 2 $450,000 $225,000 $363 6.37%
    41% 2 $120,000 $60,000 $0 7.12%
    44% 2 $240,000 $120,000 $0 5.99%
    43% 1 $65,000 $65,000 $0 6.24%
    45% 1 $55,000 $55,000 $0 5.74%

    School Systems Fcu lent most frequently to those with DTI ratios of <20%, with 16 originations. The next most common DTI ratio? 20-30%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 59 $5,045,000 $85,508 $367 5.85%
    American Indian 1 $105,000 $105,000 $0 7.49%
    Black 1 $65,000 $65,000 $0 7.24%

    Approval Rates

    Total approvals of all applications
    95.52%

    School Systems Fcu 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
    95.08%

    School Systems Fcu 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 61 $5,215,000 $85,492

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    61 $5,215,000 $85,492

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $1,155,000 $105,000 $395 6.76%
    40-60% 6 $1,220,000 $203,333 $363 6.37%
    60-80% 3 $825,000 $275,000 $0 5.57%
    80-100% 1 $195,000 $195,000 $0 5.99%
    Under 20% 40 $1,820,000 $45,500 $363 5.62%