Sefcu Services Mortgage Rates, Fees & Info

NEW YORK, NY

LEI: 549300RJW4T6MPVUPK44

Tax ID: 01-0940996

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Sefcu Services is a smaller credit union specializing in Home Purchase loans. Sefcu Services has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Albany, Syracuse, Buffalo, Glens Falls, and Binghamton among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Sefcu Services 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. Sefcu Services is typically a low 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.

    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 6.25% 12/16/24
    30 Year Conventional Refi 6.28% 12/16/24
    30 Year Cash-out Refi 6.31% 12/16/24
    30 Year FHA Purchase 7.19% 12/16/24
    30 Year FHA Refi 7.57% 12/16/24
    30 Year VA Purchase 6.27% 12/16/24
    30 Year USDA Purchase 6.67% 12/16/24
    15 Year Conventional Purchase 5.89% 12/16/24
    15 Year Conventional Refi 5.81% 12/16/24
    15 Year Cash-out Refi 5.81% 12/16/24
    15 Year VA Refi 5.68% 12/16/24
    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.

    Sefcu Services Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Sefcu Services. 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

    3,673

    Origination Dollar Volume (All Markets)

    $724,785,000
    Show all (25) 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
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 2,475 $516,215,000 $208,572 $3,651 3.73%
    SYRACUSE, NY (FHA|USDA|VA) 504 $83,720,000 $166,111 $3,288 3.76%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 157 $29,115,000 $185,446 $3,059 3.64%
    GLENS FALLS, NY (FHA|USDA|VA) 103 $20,615,000 $200,146 $3,680 3.83%
    BINGHAMTON, NY (FHA|USDA|VA) 104 $13,310,000 $127,981 $3,298 3.73%
    Hudson, NY (FHA|USDA|VA) 49 $10,885,000 $222,143 $3,819 3.84%
    Outside of Metro Areas 50 $10,280,000 $205,600 $3,542 3.70%
    UTICA-ROME, NY (FHA|USDA|VA) 61 $9,465,000 $155,164 $3,581 3.78%
    Amsterdam, NY (FHA|USDA|VA) 45 $5,935,000 $131,889 $3,483 3.88%
    Gloversville, NY (FHA|USDA|VA) 35 $5,185,000 $148,143 $3,551 3.73%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 10 $4,470,000 $447,000 $5,047 3.68%
    ROCHESTER, NY (FHA|USDA|VA) 14 $3,100,000 $221,429 $3,510 3.37%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 10 $2,790,000 $279,000 $4,307 3.50%
    Oneonta, NY (FHA|USDA|VA) 12 $2,100,000 $175,000 $3,280 4.10%
    KINGSTON, NY (FHA|USDA|VA) 10 $1,930,000 $193,000 $3,256 3.40%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 9 $1,495,000 $166,111 $2,874 3.43%
    Auburn, NY (FHA|USDA|VA) 8 $970,000 $121,250 $3,940 3.63%
    Corning, NY (FHA|USDA|VA) 1 $715,000 $715,000 $2,648 3.25%
    Malone, NY (FHA|USDA|VA) 4 $680,000 $170,000 $2,548 3.59%
    Cortland, NY (FHA|USDA|VA) 4 $620,000 $155,000 $3,049 3.41%
    ITHACA, NY (FHA|USDA|VA) 1 $315,000 $315,000 $2,116 3.75%
    Olean, NY (FHA|USDA|VA) 2 $280,000 $140,000 $2,776 3.69%
    Batavia, NY (FHA|USDA|VA) 2 $210,000 $105,000 $2,645 4.00%
    Plattsburgh, NY (FHA|USDA|VA) 1 $165,000 $165,000 $2,056 3.00%
    Seneca Falls, NY (FHA|USDA|VA) 1 $115,000 $115,000 $4,262 4.88%
    ELMIRA, NY (FHA|USDA|VA) 1 $105,000 $105,000 $2,810 3.13%
    Sefcu Services's top markets include Albany, Syracuse, Buffalo, Glens Falls, and Binghamton among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SEFCU SERVICES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    NIAGARA'S CHOICE
    Similarity Rank: 12
    SECNY Federal Credit Union
    Similarity Rank: 32
    BUFFALO METROPOLITAN FEDERAL CREDIT UNION
    Similarity Rank: 50
    Bank of Richmondville
    Similarity Rank: 54
    N C P D Federal Credit Union
    Similarity Rank: 56
    Adirondack Bank
    Similarity Rank: 63
    ONTARIO SHORES
    Similarity Rank: 90
    GREATER WOODLAWN FEDERAL CREDIT UNION
    Similarity Rank: 102
    Schuyler Savings Bank
    Similarity Rank: 104
    Geddes Federal Savings and Loan Association
    Similarity Rank: 108

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,028 $614,630,000 $202,982 $3,191 3.67%
    FHA 524 $85,010,000 $162,233 $5,323 4.00%
    VA 100 $22,170,000 $221,700 $5,296 4.01%
    USDA 21 $2,975,000 $141,667 $4,162 4.23%

    For 2019, Sefcu Services's most frequently originated type of loan was Conventional, with 3,028 originations. Their 2nd most popular type was FHA, with 524 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,685 $520,055,000 $193,689 $3,779 3.84%
    Refi 553 $121,625,000 $219,937 $2,620 3.26%
    Cash Out Refi 435 $83,105,000 $191,046 $3,423 3.65%

    For 2019, Sefcu Services's most frequently cited loan purpose was Home Purchase, with 2,685 originations. The 2nd most popular reason was Refi, with 553 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,970 $598,040,000 $201,360 $3,717 3.87%
    15 Year 547 $101,485,000 $185,530 $2,819 3.20%
    20 Year 99 $20,255,000 $204,596 $3,165 3.76%
    10 Year 41 $1,685,000 $41,098 $2,892 1.02%
    Other 16 $3,320,000 $207,500 $2,893 3.56%

    For 2019, Sefcu Services's most frequently cited loan duration was 30 Year, with 2,970 originations. The 2nd most popular length was 15 Year, with 547 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,838 $547,390,000 $192,879
    $1k-2k 581 $117,015,000 $201,403
    $2k-3k 150 $33,640,000 $224,267
    $3k-4k 68 $16,470,000 $242,206
    $4k-5k 24 $6,470,000 $269,583
    $5k+ 12 $3,800,000 $316,667

    Sefcu Services's average total fees were $3,717, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,838 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,952 $397,410,000 $203,591
    4-5% 1,057 $191,065,000 $180,762
    2.5-3% 565 $126,225,000 $223,407
    5-6% 67 $9,305,000 $138,881
    <2.5% 32 $780,000 $24,375

    During 2019, Sefcu Services's average interest rate for loans was 3.87%, while their most frequently originated rate bucket for loans was 3-4%, with 1,952 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,744 $263,800,000 $151,261 $3,363 3.83%
    $200k-400k 1,450 $386,560,000 $266,593 $3,872 3.66%
    $100,000 or less 384 $27,820,000 $72,448 $2,909 3.66%
    $400k-600k 85 $38,525,000 $453,235 $4,984 3.36%
    $600k-1MM 9 $6,745,000 $749,444 $3,859 3.33%
    $1MM+ 1 $1,335,000 $1,335,000 $3,993 3.25%

    2019 saw Sefcu Services place emphasis on $100k-200k loans with 1,744 originations, totaling $263,800,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 969 $153,195,000 $158,096 $3,546 3.80%
    $100k-150k 876 $203,030,000 $231,769 $3,660 3.68%
    $75k-100k 744 $143,640,000 $193,065 $3,580 3.76%
    $50k or less 511 $60,055,000 $117,524 $3,413 3.88%
    $150k-250k 451 $125,075,000 $277,328 $3,627 3.54%
    $250k+ 89 $33,015,000 $370,955 $3,354 3.43%

    Sefcu Services lent most frequently to those with incomes in the $50k-75k range, with 969 originations. The second most popular income band? $100k-150k, with 876 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 789 $156,765,000 $198,688 $3,190 3.59%
    30-36% 747 $150,085,000 $200,917 $3,480 3.67%
    <20% 227 $42,575,000 $187,555 $2,987 3.22%
    39% 158 $31,810,000 $201,329 $3,643 3.72%
    43% 155 $28,755,000 $185,516 $3,606 3.96%
    41% 153 $30,685,000 $200,556 $3,551 3.88%
    36% 151 $31,905,000 $211,291 $3,584 3.81%
    40% 150 $30,530,000 $203,533 $3,708 3.80%
    38% 143 $29,685,000 $207,587 $3,579 3.80%
    44% 137 $25,405,000 $185,438 $3,764 4.01%
    42% 134 $25,520,000 $190,448 $3,696 3.87%
    50-60% 133 $22,795,000 $171,391 $5,044 4.06%
    45% 113 $23,035,000 $203,850 $3,601 3.83%
    49% 109 $21,015,000 $192,798 $3,967 3.98%
    37% 108 $21,770,000 $201,574 $3,518 3.75%
    46% 93 $18,245,000 $196,183 $4,168 3.85%
    47% 88 $16,630,000 $188,977 $3,928 3.91%
    48% 83 $17,145,000 $206,566 $4,141 4.06%
    >60% 2 $430,000 $215,000 $3,838 3.69%

    Sefcu Services lent most frequently to those with DTI ratios of 20-30%, with 789 originations. The next most common DTI ratio? 30-36%, with 747 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,044 $598,720,000 $196,689 $3,555 3.74%
    Not provided 336 $69,580,000 $207,083 $3,577 3.72%
    Asian 135 $30,145,000 $223,296 $3,449 3.56%
    Black 118 $18,900,000 $160,169 $3,845 3.80%
    Not applicable 23 $3,915,000 $170,217 $3,211 3.74%
    American Indian 13 $2,425,000 $186,538 $3,575 3.64%
    Native Hawaiian or Islander 3 $815,000 $271,667 $3,607 3.04%
    Asian Indian 1 $285,000 $285,000 $4,715 5.75%

    Approval Rates

    Total approvals of all applications
    98.88%

    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
    72.91%

    Sefcu Services has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 29 $255,000 $8,793
    NA 3,644 $724,530,000 $198,828

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 9 $885,000 $98,333
    Single Family (1-4 Units):Site-Built 3,664 $723,900,000 $197,571

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 78 $8,450,000 $108,333 $2,846 3.32%
    40-60% 233 $36,225,000 $155,472 $2,659 3.44%
    60-80% 1,062 $219,580,000 $206,761 $3,150 3.64%
    80-100% 2,227 $449,655,000 $201,911 $3,801 3.86%
    Over 100% 39 $10,105,000 $259,103 $8,010 4.06%
    Under 20% 34 $770,000 $22,647 $2,539 0.94%