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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 small credit union specializing in Home Purchase and Refi 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 Hudson among others. We have data for 27 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

    5,140

    Origination Dollar Volume (All Markets)

    $1,089,900,000
    Show all (15) 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) 3,640 $796,760,000 $218,890 $3,336 3.00%
    SYRACUSE, NY (FHA|USDA|VA) 617 $114,275,000 $185,211 $3,013 3.04%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 221 $42,875,000 $194,005 $2,736 3.03%
    GLENS FALLS, NY (FHA|USDA|VA) 111 $23,475,000 $211,486 $3,392 3.05%
    Hudson, NY (FHA|USDA|VA) 90 $20,810,000 $231,222 $3,631 2.97%
    Outside of Metro Areas 82 $19,250,000 $234,756 $3,569 3.07%
    BINGHAMTON, NY (FHA|USDA|VA) 96 $13,880,000 $144,583 $2,813 3.08%
    Gloversville, NY (FHA|USDA|VA) 57 $11,535,000 $202,368 $3,523 3.07%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 27 $9,625,000 $356,481 $4,000 3.05%
    UTICA-ROME, NY (FHA|USDA|VA) 49 $8,995,000 $183,571 $3,804 3.16%
    Amsterdam, NY (FHA|USDA|VA) 57 $8,415,000 $147,632 $3,298 2.98%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 17 $5,095,000 $299,706 $3,753 2.87%
    Auburn, NY (FHA|USDA|VA) 14 $3,230,000 $230,714 $3,297 3.07%
    ROCHESTER, NY (FHA|USDA|VA) 12 $2,750,000 $229,167 $2,585 2.93%
    Oneonta, NY (FHA|USDA|VA) 15 $2,685,000 $179,000 $2,833 2.88%
    KINGSTON, NY (FHA|USDA|VA) 8 $1,620,000 $202,500 $3,721 2.84%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 6 $910,000 $151,667 $2,652 2.98%
    Corning, NY (FHA|USDA|VA) 2 $590,000 $295,000 $2,404 2.81%
    Olean, NY (FHA|USDA|VA) 4 $590,000 $147,500 $3,134 2.91%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 4 $540,000 $135,000 $2,224 2.94%
    Batavia, NY (FHA|USDA|VA) 3 $515,000 $171,667 $3,972 3.04%
    Malone, NY (FHA|USDA|VA) 2 $390,000 $195,000 $2,463 3.38%
    Cortland, NY (FHA|USDA|VA) 2 $330,000 $165,000 $2,455 3.06%
    ITHACA, NY (FHA|USDA|VA) 1 $265,000 $265,000 $3,662 3.00%
    Plattsburgh, NY (FHA|USDA|VA) 1 $245,000 $245,000 $2,690 3.00%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 1 $145,000 $145,000 $2,356 2.75%
    Seneca Falls, NY (FHA|USDA|VA) 1 $105,000 $105,000 $2,339 3.00%
    Sefcu Services's top markets include Albany, Syracuse, Buffalo, Glens Falls, and Hudson 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.

    FIRST NEW YORK
    Similarity Rank: 56
    ONTARIO SHORES
    Similarity Rank: 111
    GHS Federal Credit Union
    Similarity Rank: 112
    Bank of Akron
    Similarity Rank: 114
    Elmira Savings Bank
    Similarity Rank: 126
    RIVERSIDE
    Similarity Rank: 128
    The First National Bank of Long Island
    Similarity Rank: 134
    SECNY Federal Credit Union
    Similarity Rank: 165
    Bank of Richmondville
    Similarity Rank: 180
    Moog Employees Federal Credit Union
    Similarity Rank: 192

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,722 $1,013,880,000 $214,714 $3,086 2.99%
    FHA 326 $56,480,000 $173,252 $5,471 3.27%
    VA 67 $15,645,000 $233,507 $5,577 3.25%
    USDA 25 $3,895,000 $155,800 $4,294 3.46%

    For 2020, Sefcu Services's most frequently originated type of loan was Conventional, with 4,722 originations. Their 2nd most popular type was FHA, with 326 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,568 $540,910,000 $210,635 $3,715 3.10%
    Refi 1,812 $386,790,000 $213,460 $2,521 2.88%
    Cash Out Refi 760 $162,200,000 $213,421 $3,615 3.01%

    For 2020, Sefcu Services's most frequently cited loan purpose was Home Purchase, with 2,568 originations. The 2nd most popular reason was Refi, with 1,812 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,247 $716,715,000 $220,731 $3,587 3.17%
    15 Year 1,428 $278,580,000 $195,084 $2,632 2.70%
    20 Year 317 $70,855,000 $223,517 $3,124 3.09%
    10 Year 77 $7,555,000 $98,117 $2,527 1.69%
    Other 71 $16,195,000 $228,099 $3,213 3.08%

    For 2020, Sefcu Services's most frequently cited loan duration was 30 Year, with 3,247 originations. The 2nd most popular length was 15 Year, with 1,428 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 3,513 $711,005,000 $202,393
    $1k-2k 1,100 $245,910,000 $223,555
    $2k-3k 313 $73,545,000 $234,968
    $3k-4k 133 $34,545,000 $259,737
    $4k-5k 47 $13,805,000 $293,723
    $5k+ 28 $9,880,000 $352,857

    Sefcu Services's average total fees were $3,587, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3,513 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 2,630 $579,350,000 $220,285
    3-4% 2,037 $420,635,000 $206,497
    <2.5% 435 $84,855,000 $195,069
    4-5% 38 $5,060,000 $133,158

    During 2020, Sefcu Services's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 2.5-3%, with 2,630 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 2,338 $361,830,000 $154,760 $2,988 3.04%
    $200k-400k 2,270 $606,270,000 $267,079 $3,565 3.01%
    $100,000 or less 337 $24,385,000 $72,359 $2,610 2.84%
    $400k-600k 174 $79,010,000 $454,080 $4,438 2.93%
    $600k-1MM 19 $14,195,000 $747,105 $4,244 2.91%
    $1MM+ 2 $4,210,000 $2,105,000 $5,952 3.00%

    2020 saw Sefcu Services place emphasis on $100k-200k loans with 2,338 originations, totaling $361,830,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,371 $319,045,000 $232,710 $3,300 2.97%
    $50k-75k 1,182 $196,680,000 $166,396 $3,280 3.07%
    $75k-100k 1,026 $202,170,000 $197,047 $3,297 3.04%
    $150k-250k 866 $232,080,000 $267,991 $3,263 2.92%
    $50k or less 472 $61,340,000 $129,958 $3,168 3.11%
    $250k+ 172 $67,280,000 $391,163 $3,499 2.88%

    Sefcu Services lent most frequently to those with incomes in the $100k-150k range, with 1,371 originations. The second most popular income band? $50k-75k, with 1,182 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,376 $295,610,000 $214,833 $3,098 2.94%
    30-36% 1,043 $222,585,000 $213,408 $3,233 3.00%
    <20% 504 $102,200,000 $202,778 $2,798 2.83%
    42% 207 $42,065,000 $203,213 $3,324 3.09%
    38% 192 $41,520,000 $216,250 $3,452 3.04%
    37% 191 $40,155,000 $210,236 $3,327 3.07%
    40% 177 $37,905,000 $214,153 $3,486 3.10%
    43% 176 $38,320,000 $217,727 $3,483 3.12%
    41% 176 $35,770,000 $203,239 $3,397 3.13%
    36% 175 $36,385,000 $207,914 $3,287 3.05%
    44% 170 $36,990,000 $217,588 $3,692 3.16%
    39% 156 $34,660,000 $222,179 $3,215 3.02%
    45% 121 $27,535,000 $227,562 $3,650 3.08%
    47% 118 $24,130,000 $204,492 $3,407 3.13%
    46% 112 $24,400,000 $217,857 $3,767 3.11%
    49% 93 $19,385,000 $208,441 $3,919 3.14%
    48% 87 $16,635,000 $191,207 $3,550 3.15%
    50-60% 60 $12,020,000 $200,333 $5,187 3.28%
    >60% 1 $135,000 $135,000 $2,341 2.75%

    Sefcu Services lent most frequently to those with DTI ratios of 20-30%, with 1,376 originations. The next most common DTI ratio? 30-36%, with 1,043 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,307 $912,465,000 $211,856 $3,258 3.01%
    Not provided 476 $102,960,000 $216,303 $3,250 3.05%
    Asian 164 $38,130,000 $232,500 $3,505 2.94%
    Black 150 $27,060,000 $180,400 $3,705 3.06%
    Not applicable 16 $4,080,000 $255,000 $3,631 2.88%
    American Indian 19 $3,175,000 $167,105 $2,847 3.04%
    Native Hawaiian or Islander 8 $2,030,000 $253,750 $2,755 3.00%

    Approval Rates

    Total approvals of all applications
    99.34%

    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
    68.72%

    Sefcu Services has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 29 $145,000 $5,000
    NA 5,111 $1,089,755,000 $213,218

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 9 $1,205,000 $133,889
    Single Family (1-4 Units):Site-Built 5,131 $1,088,695,000 $212,180

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 104 $13,890,000 $133,558 $2,540 2.86%
    40-60% 533 $91,915,000 $172,448 $2,543 2.83%
    60-80% 1,969 $432,455,000 $219,632 $3,036 2.97%
    80-100% 2,480 $546,510,000 $220,367 $3,620 3.12%
    Over 100% 20 $4,610,000 $230,500 $7,768 3.23%
    Under 20% 34 $520,000 $15,294 $3,157 0.42%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    SIBCY CLINE MORTGAGE SERVICE Conventional home mortgage Closing on a mortgage 1 100.0%