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
  • 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% 4/21/24
    30 Year Conventional Refi 6.28% 4/21/24
    30 Year Cash-out Refi 6.31% 4/21/24
    30 Year FHA Purchase 7.19% 4/21/24
    30 Year FHA Refi 7.57% 4/21/24
    30 Year VA Purchase 6.27% 4/21/24
    30 Year USDA Purchase 6.67% 4/21/24
    15 Year Conventional Purchase 5.89% 4/21/24
    15 Year Conventional Refi 5.81% 4/21/24
    15 Year Cash-out Refi 5.81% 4/21/24
    15 Year VA Refi 5.68% 4/21/24
    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

    2,950

    Origination Dollar Volume (All Markets)

    $700,790,000
    Show all (28) 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) 1,947 $479,205,000 $246,125 $3,983 4.00%
    SYRACUSE, NY (FHA|USDA|VA) 446 $98,160,000 $220,090 $3,394 4.09%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 95 $22,265,000 $234,368 $3,217 3.99%
    GLENS FALLS, NY (FHA|USDA|VA) 68 $16,910,000 $248,676 $4,242 3.89%
    BINGHAMTON, NY (FHA|USDA|VA) 100 $16,140,000 $161,400 $3,119 4.00%
    Outside of Metro Areas 50 $11,620,000 $232,400 $4,159 4.21%
    Hudson, NY (FHA|USDA|VA) 26 $7,870,000 $302,692 $4,425 4.03%
    UTICA-ROME, NY (FHA|USDA|VA) 44 $7,440,000 $169,091 $3,687 3.97%
    Gloversville, NY (FHA|USDA|VA) 42 $7,400,000 $176,190 $3,885 4.26%
    Amsterdam, NY (FHA|USDA|VA) 42 $7,100,000 $169,048 $3,677 4.29%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 11 $6,715,000 $610,455 $4,452 3.45%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 13 $4,775,000 $367,308 $5,177 4.06%
    ROCHESTER, NY (FHA|USDA|VA) 13 $4,015,000 $308,846 $4,698 3.68%
    Oneonta, NY (FHA|USDA|VA) 11 $2,685,000 $244,091 $3,757 3.88%
    Auburn, NY (FHA|USDA|VA) 10 $2,130,000 $213,000 $3,505 3.91%
    KINGSTON, NY (FHA|USDA|VA) 5 $1,575,000 $315,000 $6,084 3.85%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 5 $1,415,000 $283,000 $3,401 4.03%
    Cortland, NY (FHA|USDA|VA) 8 $1,020,000 $127,500 $3,190 3.73%
    Malone, NY (FHA|USDA|VA) 3 $725,000 $241,667 $2,841 3.63%
    ELMIRA, NY (FHA|USDA|VA) 4 $700,000 $175,000 $3,589 3.59%
    Corning, NY (FHA|USDA|VA) 1 $255,000 $255,000 $3,032 3.50%
    Olean, NY (FHA|USDA|VA) 1 $155,000 $155,000 $5,140 5.13%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 1 $145,000 $145,000 $2,669 2.25%
    Batavia, NY (FHA|USDA|VA) 2 $140,000 $70,000 $3,077 3.31%
    Plattsburgh, NY (FHA|USDA|VA) 1 $135,000 $135,000 $3,848 6.13%
    Seneca Falls, NY (FHA|USDA|VA) 1 $95,000 $95,000 $2,536 2.38%
    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.

    SECNY Federal Credit Union
    Similarity Rank: 22
    Bank of Richmondville
    Similarity Rank: 24
    GREATER WOODLAWN FEDERAL CREDIT UNION
    Similarity Rank: 30
    RSI BANK
    Similarity Rank: 30
    Schuyler Savings Bank
    Similarity Rank: 51
    Saratoga National Bank and Trust Company
    Similarity Rank: 72
    Moog Employees Federal Credit Union
    Similarity Rank: 76
    NIAGARA'S CHOICE
    Similarity Rank: 80
    The Bank of Greene County
    Similarity Rank: 81
    BUFFALO METROPOLITAN FEDERAL CREDIT UNION
    Similarity Rank: 84

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,695 $648,025,000 $240,455 $3,593 3.96%
    FHA 210 $41,740,000 $198,762 $6,589 4.62%
    VA 43 $10,605,000 $246,628 $6,369 4.22%
    USDA 2 $420,000 $210,000 $5,096 4.75%

    For 2022, Sefcu Services's most frequently originated type of loan was Conventional, with 2,695 originations. Their 2nd most popular type was FHA, with 210 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,342 $577,010,000 $246,375 $3,979 4.18%
    Cash Out Refi 372 $80,560,000 $216,559 $3,754 3.60%
    Refi 236 $43,220,000 $183,136 $2,696 3.02%

    For 2022, Sefcu Services's most frequently cited loan purpose was Home Purchase, with 2,342 originations. The 2nd most popular reason was Cash Out Refi, with 372 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,499 $628,345,000 $251,439 $4,069 4.26%
    15 Year 318 $60,880,000 $191,447 $3,098 3.03%
    10 Year 76 $1,360,000 $17,895 $254 0.30%
    20 Year 35 $5,975,000 $170,714 $3,361 3.61%
    Other 22 $4,230,000 $192,273 $2,770 3.37%

    For 2022, Sefcu Services's most frequently cited loan duration was 30 Year, with 2,499 originations. The 2nd most popular length was 15 Year, with 318 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,818 $416,030,000 $228,839
    $1k-2k 700 $168,600,000 $240,857
    $2k-3k 224 $56,170,000 $250,759
    $3k-4k 103 $28,215,000 $273,932
    $4k-5k 59 $16,145,000 $273,644
    $5k+ 46 $15,630,000 $339,783

    Sefcu Services's average total fees were $4,069, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,818 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,178 $304,340,000 $258,353
    4-5% 635 $157,915,000 $248,685
    5-6% 562 $123,870,000 $220,409
    <2.5% 259 $41,765,000 $161,255
    2.5-3% 232 $57,270,000 $246,853
    6-7% 76 $14,320,000 $188,421
    7-8% 8 $1,310,000 $163,750

    During 2022, Sefcu Services's average interest rate for loans was 4.26%, while their most frequently originated rate bucket for loans was 3-4%, with 1,178 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,339 $367,005,000 $274,089 $4,203 4.13%
    $100k-200k 1,068 $165,920,000 $155,356 $3,490 4.15%
    $400k-600k 258 $120,470,000 $466,938 $4,953 3.88%
    $100,000 or less 238 $13,670,000 $57,437 $1,976 2.91%
    $600k-1MM 46 $32,050,000 $696,739 $5,257 3.91%
    $1MM+ 1 $1,675,000 $1,675,000 $4,897 2.88%

    2022 saw Sefcu Services place emphasis on $200k-400k loans with 1,339 originations, totaling $367,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 742 $128,640,000 $173,369 $3,626 4.07%
    $100k-150k 740 $197,210,000 $266,500 $4,028 4.03%
    $75k-100k 584 $125,680,000 $215,205 $3,924 4.03%
    $150k-250k 460 $153,810,000 $334,370 $4,163 3.95%
    $50k or less 283 $35,145,000 $124,187 $3,085 3.95%
    $250k+ 121 $55,535,000 $458,967 $4,485 3.85%

    Sefcu Services lent most frequently to those with incomes in the $50k-75k range, with 742 originations. The second most popular income band? $100k-150k, with 740 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 697 $163,495,000 $234,570 $3,420 3.68%
    30-36% 589 $145,875,000 $247,666 $3,760 3.91%
    <20% 193 $43,785,000 $226,865 $3,034 3.44%
    37% 147 $37,265,000 $253,503 $3,858 4.01%
    39% 134 $30,630,000 $228,582 $3,991 4.28%
    41% 121 $29,425,000 $243,182 $3,867 4.13%
    38% 113 $27,425,000 $242,699 $3,898 4.15%
    40% 108 $25,210,000 $233,426 $3,912 4.22%
    42% 105 $22,865,000 $217,762 $3,747 4.23%
    44% 105 $26,745,000 $254,714 $4,427 4.48%
    43% 103 $22,985,000 $223,155 $3,902 4.23%
    36% 102 $21,010,000 $205,980 $3,912 4.16%
    45% 87 $20,295,000 $233,276 $4,280 4.44%
    47% 71 $17,335,000 $244,155 $4,400 4.32%
    49% 71 $17,215,000 $242,465 $4,907 4.67%
    46% 70 $18,130,000 $259,000 $4,411 4.35%
    50-60% 70 $16,270,000 $232,429 $6,345 4.86%
    48% 64 $14,830,000 $231,719 $4,524 4.35%

    Sefcu Services lent most frequently to those with DTI ratios of 20-30%, with 697 originations. The next most common DTI ratio? 30-36%, with 589 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,308 $548,810,000 $237,786 $3,836 4.02%
    Not provided 322 $76,670,000 $238,106 $4,051 4.03%
    Asian 170 $48,560,000 $285,647 $3,858 3.86%
    Black 127 $22,025,000 $173,425 $3,679 4.10%
    American Indian 18 $4,090,000 $227,222 $3,322 4.38%
    Not applicable 3 $515,000 $171,667 $2,954 4.21%
    Native Hawaiian or Islander 2 $120,000 $60,000 $1,175 1.63%

    Approval Rates

    Total approvals of all applications
    98.24%

    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
    73.49%

    Sefcu Services has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,950 $700,790,000 $237,556

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,950 $700,790,000 $237,556

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 82 $10,640,000 $129,756 $2,744 3.65%
    40-60% 246 $46,840,000 $190,407 $2,988 3.56%
    60-80% 824 $199,250,000 $241,808 $3,750 3.94%
    80-100% 1,709 $439,765,000 $257,323 $4,193 4.29%
    Over 100% 11 $3,015,000 $274,091 $10,025 4.39%
    Under 20% 78 $1,280,000 $16,410 $319 0.46%