Sefcu Services Mortgage Rates, Fees & Info

NEW YORK, NY

LEI: 549300RJW4T6MPVUPK44

Tax ID: 01-0940996

5 stars - out of 5 stars, based on 71 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Sefcu Services is a small credit union specializing in Home Purchase and Refi loans. Sefcu Services has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Albany, Syracuse, Buffalo, Glens Falls, and Hudson among others. Sefcu Services has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Sefcu Services is typically an average fee lendor.


Originations

4,998

Origination Dollar Volume (All Markets)

$1,075,810,000
Show all (15) awards

Relative Rate

Sefcu Services 's average 30 year fixed rate mortgage of loans were 3.02%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.13%.

Relative Fees

Sefcu Services 's average total fees for a 30 year fixed rate mortgage are $3,615.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 3,465 $773,915,000 $223,352 $3,360 2.80%
SYRACUSE, NY (FHA|USDA|VA) 562 $106,110,000 $188,808 $2,925 2.85%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 205 $39,525,000 $192,805 $2,629 2.78%
GLENS FALLS, NY (FHA|USDA|VA) 129 $28,995,000 $224,767 $3,897 2.81%
Outside of Metro Areas 100 $21,770,000 $217,700 $3,408 2.90%
Hudson, NY (FHA|USDA|VA) 85 $19,685,000 $231,588 $3,157 2.75%
BINGHAMTON, NY (FHA|USDA|VA) 130 $17,950,000 $138,077 $2,889 2.91%
Amsterdam, NY (FHA|USDA|VA) 75 $12,785,000 $170,467 $3,368 2.84%
Gloversville, NY (FHA|USDA|VA) 72 $12,080,000 $167,778 $2,952 2.88%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 22 $11,750,000 $534,091 $4,600 2.82%
UTICA-ROME, NY (FHA|USDA|VA) 57 $10,235,000 $179,561 $3,284 2.95%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 16 $4,700,000 $293,750 $3,300 2.82%
ROCHESTER, NY (FHA|USDA|VA) 19 $3,695,000 $194,474 $2,892 2.85%
Oneonta, NY (FHA|USDA|VA) 13 $2,995,000 $230,385 $4,211 2.92%
Malone, NY (FHA|USDA|VA) 10 $2,140,000 $214,000 $3,163 2.90%
KINGSTON, NY (FHA|USDA|VA) 9 $2,035,000 $226,111 $3,543 2.63%
Auburn, NY (FHA|USDA|VA) 9 $1,765,000 $196,111 $2,799 2.92%
Plattsburgh, NY (FHA|USDA|VA) 7 $1,155,000 $165,000 $3,025 2.89%
Cortland, NY (FHA|USDA|VA) 6 $1,090,000 $181,667 $2,790 3.00%
ITHACA, NY (FHA|USDA|VA) 2 $440,000 $220,000 $2,923 3.13%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 2 $370,000 $185,000 $2,060 2.75%
Seneca Falls, NY (FHA|USDA|VA) 1 $275,000 $275,000 $3,060 2.88%
Ogdensburg-Massena, NY (FHA|USDA|VA) 1 $175,000 $175,000 $5,536 3.00%
ELMIRA, NY (FHA|USDA|VA) 1 $175,000 $175,000 $2,888 2.75%

Sefcu Services 's top markets include Albany, Syracuse, Buffalo, Glens Falls, and Hudson among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 4,734 $1,022,340,000 $215,957 $3,136 2.81%
FHA 199 $37,075,000 $186,307 $5,813 2.93%
VA 56 $14,870,000 $265,536 $5,834 2.85%
USDA 9 $1,525,000 $169,444 $4,277 3.01%

For the 2021 period, Sefcu Services 's most frequently originated loan type of loans were Conventional, with 4,734 originations. Their 2nd most popular type is FHA, with 199 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 2,563 $575,435,000 $224,516 $3,686 2.90%
Refi 1,540 $309,890,000 $201,227 $2,458 2.66%
Cash Out Refi 895 $190,485,000 $212,832 $3,532 2.83%

For the 2021, Sefcu Services 's most frequently cited loan purpose of loans were Home Purchase, with 2,563 originations. The 2nd most popular reason of loans were Refi, with 1,540 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 3,159 $729,305,000 $230,866 $3,615 3.02%
15 Year 1,313 $255,455,000 $194,558 $2,646 2.43%
20 Year 293 $62,365,000 $212,850 $3,110 2.94%
10 Year 141 $9,945,000 $70,532 $1,692 1.31%
Other 92 $18,740,000 $203,696 $2,810 2.89%

For the 2021, Sefcu Services 's most frequently cited loan length of loans were 30 Year, with 3,159 originations. The 2nd most popular length of loans were 15 Year, with 1,313 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 3,276 $669,520,000 $204,371
$1k-2k 1,188 $270,690,000 $227,854
$2k-3k 337 $79,485,000 $235,861
$3k-4k 156 $41,650,000 $266,987
$5k+ 41 $14,465,000 $352,805

$3,615 of loans were Sefcu Services 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 3,276 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 2,201 $503,245,000 $228,644
3-4% 1,435 $307,385,000 $214,206
<2.5% 1,348 $263,410,000 $195,408
4-5% 12 $1,760,000 $146,667

During 2021, Sefcu Services 's average interest rate of loans were 3.02%, while their most frequently originated rate bucket of loans were 2.5-3%, with 2,201 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 2,228 $593,830,000 $266,531 $3,603 2.87%
$100k-200k 2,116 $325,160,000 $153,667 $2,906 2.84%
$100,000 or less 393 $26,025,000 $66,221 $2,317 2.31%
$400k-600k 238 $111,740,000 $469,496 $4,807 2.83%
$600k-1MM 20 $13,900,000 $695,000 $4,236 2.74%
$1MM+ 3 $5,155,000 $1,718,333 $5,078 2.92%

2021 saw Sefcu Services place emphasis on $200k-400k loans with 2,228 originations, totaling $593,830,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 1,281 $301,675,000 $235,500 $3,339 2.84%
$50k-75k 1,192 $200,860,000 $168,507 $3,179 2.81%
$75k-100k 985 $201,645,000 $204,716 $3,315 2.85%
$150k-250k 810 $230,910,000 $285,074 $3,407 2.74%
$50k or less 509 $65,285,000 $128,261 $3,129 2.83%
$250k+ 150 $58,710,000 $391,400 $3,501 2.69%

Sefcu Services lent most frequently to those with incomes in the $100k-150k range, with 1,281 originations. The second most popular income band? $50k-75k, with 1,192 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 1,336 $278,730,000 $208,630 $3,080 2.76%
30-36% 992 $217,750,000 $219,506 $3,294 2.86%
<20% 513 $100,245,000 $195,409 $2,674 2.51%
36% 189 $39,185,000 $207,328 $3,202 2.85%
40% 186 $42,660,000 $229,355 $3,553 2.89%
38% 186 $43,790,000 $235,430 $3,440 2.88%
37% 184 $42,050,000 $228,533 $3,299 2.89%
39% 180 $39,380,000 $218,778 $3,471 2.90%
42% 177 $38,675,000 $218,503 $3,350 2.95%
43% 165 $35,465,000 $214,939 $3,579 2.94%
44% 141 $32,255,000 $228,759 $3,703 2.85%
41% 138 $32,960,000 $238,841 $3,612 2.87%
45% 125 $27,215,000 $217,720 $3,459 2.85%
46% 114 $24,900,000 $218,421 $3,841 2.93%
50-60% 106 $24,180,000 $228,113 $4,431 2.90%
47% 96 $21,050,000 $219,271 $3,483 2.92%
49% 89 $19,055,000 $214,101 $3,363 2.89%
48% 69 $14,475,000 $209,783 $3,640 2.91%
>60% 10 $1,400,000 $140,000 $3,366 2.88%

Sefcu Services lent most frequently to those with DTI ratios of 20-30%, with 1,336 originations. The next most common DTI ratio? 30-36%, with 992 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 4,044 $874,920,000 $216,350 $3,269 2.82%
Not provided 544 $113,640,000 $208,897 $3,326 2.77%
Asian 200 $48,240,000 $241,200 $3,222 2.75%
Black 183 $34,215,000 $186,967 $3,376 2.80%
American Indian 15 $2,555,000 $170,333 $3,239 2.82%
Not applicable 10 $1,840,000 $184,000 $2,806 2.88%
Native Hawaiian 2 $400,000 $200,000 $4,139 3.44%

Approval Rates

Total approvals of all applications
99.03%

Sefcu Services 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
72.59%

Sefcu Services has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
0.0 47 $235,000 $5,000
NA 4,951 $1,075,575,000 $217,244

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
4,998 $1,075,810,000 $215,248

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 140 $17,850,000 $127,500 $2,546 2.53%
40-60% 677 $121,435,000 $179,372 $2,531 2.60%
60-80% 1,929 $423,875,000 $219,738 $3,113 2.82%
80-100% 2,159 $507,785,000 $235,195 $3,706 2.98%
Over 100% 15 $4,045,000 $269,667 $9,147 2.95%
Under 20% 78 $820,000 $10,513 $275 0.35%