State Employees' Mortgage Rates, Fees & Info

Raleigh, NC

LEI: 549300SHE1JTCOWBP090

Tax ID: 56-0475645

5 stars - out of 5 stars, based on 213 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

State Employees' is a large mortgage company specializing in Refi and Home Purchase loans. State Employees' has a high proportion of conventional loans. Their top markets include Raleigh, Charlotte, Durham, Greensboro, and Asheville among others. State Employees' has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. State Employees' is typically an average fee lendor.


Originations

45,474

Origination Dollar Volume (All Markets)

$7,517,750,000

Awards

STATE EMPLOYEES' 30 Year Conventional Loans silver STATE EMPLOYEES' 30 Year Conventional Loans gold STATE EMPLOYEES' 30 Year Conventional Loans gold STATE EMPLOYEES' 30 Year Conventional Loans silver
Show all (4) awards

Relative Rate

State Employees''s average 30 year fixed rate mortgage of loans were 3.28%.

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

State Employees''s average total fees for a 30 year fixed rate mortgage are $3,883.

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
RALEIGH-CARY, NC (FHA|USDA|VA) 7,672 $1,426,270,000 $185,906 $3,885 3.05%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 6,157 $1,067,885,000 $173,442 $3,687 3.09%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3,496 $633,910,000 $181,324 $3,740 3.06%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 3,290 $505,780,000 $153,733 $3,369 3.15%
ASHEVILLE, NC (FHA|USDA|VA) 2,160 $415,430,000 $192,329 $3,937 3.10%
WINSTON-SALEM, NC (FHA|USDA|VA) 2,530 $397,210,000 $157,000 $3,381 3.15%
Outside of Metro Areas 2,797 $394,445,000 $141,024 $3,348 3.15%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 2,165 $296,095,000 $136,764 $3,231 3.12%
WILMINGTON, NC (FHA|USDA|VA) 1,176 $210,800,000 $179,252 $3,788 3.06%
BURLINGTON, NC (FHA|USDA|VA) 1,144 $188,990,000 $165,201 $3,530 3.16%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 913 $182,845,000 $200,268 $3,838 3.12%
FAYETTEVILLE, NC (FHA|USDA|VA) 1,114 $160,970,000 $144,497 $3,374 3.15%
GREENVILLE, NC (FHA|USDA|VA) 1,069 $146,595,000 $137,133 $3,311 3.12%
Albemarle, NC (FHA|USDA|VA) 685 $106,595,000 $155,613 $3,583 3.19%
GOLDSBORO, NC (FHA|USDA|VA) 673 $95,325,000 $141,642 $3,186 3.19%
Morehead City, NC (FHA|USDA|VA) 469 $91,595,000 $195,299 $3,704 3.11%
ROCKY MOUNT, NC (FHA|USDA|VA) 622 $88,590,000 $142,428 $3,365 3.18%
Wilson, NC (FHA|USDA|VA) 553 $77,105,000 $139,430 $3,167 3.16%
Kill Devil Hills, NC (FHA|USDA|VA) 265 $61,535,000 $232,208 $4,010 3.11%
Cullowhee, NC (FHA|USDA|VA) 368 $60,870,000 $165,408 $3,831 3.10%
NEW BERN, NC (FHA|USDA|VA) 420 $60,720,000 $144,571 $3,358 3.12%
JACKSONVILLE, NC (FHA|USDA|VA) 361 $60,025,000 $166,274 $3,501 3.17%
Boone, NC (FHA|USDA|VA) 317 $59,195,000 $186,735 $3,832 3.07%
Shelby, NC (FHA|USDA|VA) 407 $56,875,000 $139,742 $3,287 3.14%
North Wilkesboro, NC (FHA|USDA|VA) 415 $56,625,000 $136,446 $3,221 3.11%
Forest City, NC (FHA|USDA|VA) 420 $55,800,000 $132,857 $3,227 3.13%
Marion, NC (FHA|USDA|VA) 308 $47,460,000 $154,091 $3,478 3.18%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 294 $47,080,000 $160,136 $3,544 3.09%
Mount Airy, NC (FHA|USDA|VA) 390 $46,230,000 $118,538 $2,941 3.08%
Sanford, NC (FHA|USDA|VA) 299 $45,015,000 $150,552 $3,463 3.12%
Henderson, NC (FHA|USDA|VA) 238 $34,210,000 $143,739 $3,330 3.23%
Washington, NC (FHA|USDA|VA) 242 $32,930,000 $136,074 $3,267 3.13%
Kinston, NC (FHA|USDA|VA) 280 $31,750,000 $113,393 $3,132 3.16%
Elizabeth City, NC (FHA|USDA|VA) 223 $31,285,000 $140,291 $3,399 3.13%
Roanoke Rapids, NC (FHA|USDA|VA) 247 $29,675,000 $120,142 $3,081 3.22%
Lumberton, NC (FHA|USDA|VA) 261 $28,945,000 $110,900 $2,996 3.09%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 155 $26,385,000 $170,226 $3,874 3.09%
Rockingham, NC (FHA|USDA|VA) 182 $22,910,000 $125,879 $3,202 3.21%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 80 $19,790,000 $247,375 $4,676 3.16%
SPARTANBURG, SC (FHA|USDA|VA) 74 $14,320,000 $193,514 $3,977 3.21%
Laurinburg, NC (FHA|USDA|VA) 105 $11,615,000 $110,619 $2,848 3.14%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 53 $11,545,000 $217,830 $4,282 3.24%
Brevard, NC (FHA|USDA|VA) 70 $11,410,000 $163,000 $3,874 3.09%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 30 $8,390,000 $279,667 $4,581 3.19%
COLUMBIA, SC (FHA|USDA|VA) 33 $7,645,000 $231,667 $3,771 3.25%
RICHMOND, VA (FHA|USDA|VA) 22 $5,850,000 $265,909 $4,613 3.16%
ROANOKE, VA (FHA|USDA|VA) 14 $4,450,000 $317,857 $4,331 3.26%
JOHNSON CITY, TN (FHA|USDA|VA) 16 $2,930,000 $183,125 $3,757 3.41%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 9 $2,905,000 $322,778 $5,689 3.11%
Gaffney, SC (FHA|USDA|VA) 13 $2,375,000 $182,692 $3,572 3.29%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 7 $2,315,000 $330,714 $5,682 3.04%
Danville, VA (FHA|USDA|VA) 23 $2,305,000 $100,217 $2,946 3.24%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 7 $2,065,000 $295,000 $5,068 3.03%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 7 $1,955,000 $279,286 $4,405 3.45%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 11 $1,765,000 $160,455 $3,333 3.22%
KNOXVILLE, TN (FHA|USDA|VA) 9 $1,745,000 $193,889 $3,600 3.49%
LYNCHBURG, VA (FHA|USDA|VA) 11 $1,695,000 $154,091 $4,018 3.03%
Georgetown, SC (FHA|USDA|VA) 5 $1,475,000 $295,000 $4,798 2.99%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 8 $1,470,000 $183,750 $4,183 3.44%
SAVANNAH, GA (FHA|USDA|VA) 6 $1,340,000 $223,333 $4,618 3.23%
MORRISTOWN, TN (FHA|USDA|VA) 6 $1,220,000 $203,333 $3,553 3.47%
FLORENCE, SC (FHA|USDA|VA) 7 $1,145,000 $163,571 $3,456 3.22%
Seneca, SC (FHA|USDA|VA) 6 $1,120,000 $186,667 $3,902 3.29%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 4 $1,000,000 $250,000 $4,752 3.38%
SUMTER, SC (FHA|USDA|VA) 5 $975,000 $195,000 $3,882 3.17%
Martinsville, VA (FHA|USDA|VA) 8 $730,000 $91,250 $2,465 3.22%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 3 $715,000 $238,333 $4,285 3.49%
Sevierville, TN (FHA|USDA|VA) 4 $700,000 $175,000 $4,315 3.38%
Bennettsville, SC (FHA|USDA|VA) 7 $595,000 $85,000 $2,557 3.31%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 4 $590,000 $147,500 $3,452 2.93%
Greeneville, TN (FHA|USDA|VA) 2 $530,000 $265,000 $4,324 3.20%
Lewisburg, TN (FHA|USDA|VA) 2 $490,000 $245,000 $4,925 3.06%
Cornelia, GA (FHA|USDA|VA) 2 $430,000 $215,000 $4,038 3.25%
VALDOSTA, GA (FHA|USDA|VA) 1 $345,000 $345,000 $4,270 3.25%
Waycross, GA (FHA|USDA|VA) 1 $335,000 $335,000 $5,245 3.75%
COLUMBUS, GA-AL (FHA|USDA|VA) 2 $320,000 $160,000 $5,233 3.00%
Greenwood, SC (FHA|USDA|VA) 2 $320,000 $160,000 $3,358 2.95%
Statesboro, GA (FHA|USDA|VA) 2 $320,000 $160,000 $3,226 3.20%
ROME, GA (FHA|USDA|VA) 2 $300,000 $150,000 $3,396 3.81%
STAUNTON, VA (FHA|USDA|VA) 1 $295,000 $295,000 $4,431 3.15%
DALTON, GA (FHA|USDA|VA) 1 $255,000 $255,000 $6,023 3.25%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $235,000 $235,000 $4,567 3.15%
Union, SC (FHA|USDA|VA) 1 $225,000 $225,000 $4,076 4.25%
Orangeburg, SC (FHA|USDA|VA) 2 $210,000 $105,000 $3,375 3.10%
Jefferson, GA (FHA|USDA|VA) 1 $205,000 $205,000 $4,188 4.25%
Newberry, SC (FHA|USDA|VA) 1 $185,000 $185,000 $4,435 3.25%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $175,000 $175,000 $3,714 3.15%
Bluefield, WV-VA (FHA|USDA|VA) 1 $135,000 $135,000 $2,901 3.75%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $115,000 $115,000 $2,941 4.38%
HINESVILLE, GA (FHA|USDA|VA) 1 $105,000 $105,000 $3,137 3.15%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $65,000 $65,000 $0 2.75%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $55,000 $55,000 $0 2.75%

State Employees''s top markets include Raleigh, Charlotte, Durham, Greensboro, and Asheville among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 45,474 $7,517,750,000 $165,320 $3,566 3.11%

For the 2021 period, State Employees''s most frequently originated loan type of loans were Conventional, with 45,474 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 21,355 $3,885,275,000 $181,937 $3,422 3.12%
Home Purchase 14,483 $3,003,545,000 $207,384 $3,794 3.33%
Home Improvement 5,198 $328,220,000 $63,144 $2,853 2.78%
Other 4,438 $300,710,000 $67,758 $3,109 2.78%

For the 2021, State Employees''s most frequently cited loan purpose of loans were Refi, with 21,355 originations. The 2nd most popular reason of loans were Home Purchase, with 14,483 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 20,560 $4,563,740,000 $221,972 $3,883 3.28%
Other 11,281 $801,695,000 $71,066 $4,147 2.76%
20 Year 6,806 $1,192,330,000 $175,188 $3,286 3.23%
15 Year 4,423 $568,145,000 $128,452 $2,744 3.12%
10 Year 1,836 $189,720,000 $103,333 $2,262 2.84%
30+ year 568 $202,120,000 $355,845 $5,500 3.27%

For the 2021, State Employees''s most frequently cited loan length of loans were 30 Year, with 20,560 originations. The 2nd most popular length of loans were Other, with 11,281 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$2k-3k 11,358 $2,687,760,000 $236,640
$1k-2k 10,418 $1,500,770,000 $144,055
$3k-4k 7,120 $1,806,880,000 $253,775
$<1k 3,152 $241,330,000 $76,564
$5k+ 492 $270,540,000 $549,878

$3,883 of loans were State Employees''s average total fees, while their most frequently occuring range of origination fees were in the $2k-3k bucket, with 11,358 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 22,256 $4,669,850,000 $209,824
2.5-3% 21,833 $2,590,085,000 $118,632
4-5% 1,385 $257,815,000 $186,148

During 2021, State Employees''s average interest rate of loans were 3.28%, while their most frequently originated rate bucket of loans were 3-4%, with 22,256 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 16,833 $2,475,455,000 $147,060 $3,109 3.19%
$100,000 or less 14,579 $829,245,000 $56,879 $2,141 2.91%
$200k-400k 12,454 $3,357,670,000 $269,606 $4,460 3.24%
$400k-600k 1,248 $574,680,000 $460,481 $5,365 3.20%
$600k-1MM 316 $225,220,000 $712,722 $6,088 3.17%
$1MM+ 44 $55,480,000 $1,260,909 $6,824 3.19%

2021 saw State Employees' place emphasis on $100k-200k loans with 16,833 originations, totaling $2,475,455,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 11,279 $1,607,255,000 $142,500 $3,343 3.14%
$100k-150k 10,150 $1,868,330,000 $184,072 $3,967 3.07%
$75k-100k 8,759 $1,433,965,000 $163,713 $3,634 3.12%
$50k or less 8,018 $899,080,000 $112,133 $2,872 3.18%
$150k-250k 4,953 $1,074,175,000 $216,874 $4,398 3.01%
$250k+ 1,234 $402,580,000 $326,240 $5,113 3.00%

State Employees' lent most frequently to those with incomes in the $50k-75k range, with 11,279 originations. The second most popular income band? $100k-150k, with 10,150 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 12,922 $2,118,480,000 $163,944 $3,498 3.11%
30-36% 9,483 $1,615,615,000 $170,370 $3,628 3.13%
<20% 5,723 $821,865,000 $143,607 $3,144 3.06%
42% 2,060 $307,850,000 $149,442 $3,785 3.04%
38% 1,743 $300,355,000 $172,321 $3,755 3.14%
40% 1,717 $296,075,000 $172,437 $3,759 3.12%
41% 1,712 $287,500,000 $167,932 $3,761 3.10%
39% 1,680 $290,570,000 $172,958 $3,723 3.15%
37% 1,658 $279,860,000 $168,794 $3,677 3.14%
36% 1,618 $277,550,000 $171,539 $3,685 3.15%
43% 859 $158,345,000 $184,336 $3,765 3.15%
44% 731 $130,615,000 $178,680 $3,773 3.14%
50-60% 623 $118,305,000 $189,896 $3,680 3.12%
45% 609 $100,885,000 $165,657 $3,635 3.14%
46% 545 $94,355,000 $173,128 $3,689 3.14%
49% 451 $73,055,000 $161,984 $3,732 3.05%
>60% 442 $88,490,000 $200,204 $3,649 3.09%
47% 442 $77,780,000 $175,973 $3,777 3.12%
48% 433 $75,325,000 $173,961 $3,820 3.11%

State Employees' lent most frequently to those with DTI ratios of 20-30%, with 12,922 originations. The next most common DTI ratio? 30-36%, with 9,483 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 31,100 $5,052,740,000 $162,468 $3,554 3.09%
Black 9,504 $1,575,210,000 $165,742 $3,542 3.17%
Not provided 3,992 $740,080,000 $185,391 $3,741 3.13%
Asian 342 $67,950,000 $198,684 $3,707 3.10%
American Indian 395 $58,065,000 $147,000 $3,379 3.11%
Asian Indian 30 $6,480,000 $216,000 $4,393 2.92%
Native Hawaiian 32 $6,120,000 $191,250 $3,620 3.30%
Other Asian 39 $5,775,000 $148,077 $3,473 3.06%
Other Pacific Islander 24 $2,810,000 $117,083 $3,114 3.11%
Filipino 6 $1,210,000 $201,667 $3,289 3.16%
Chinese 3 $485,000 $161,667 $3,132 3.08%
Samoan 1 $295,000 $295,000 $4,660 3.25%
Japanese 1 $205,000 $205,000 $4,828 3.25%
Guamanian 1 $125,000 $125,000 $3,166 2.95%
Korean 1 $85,000 $85,000 $1,918 2.95%
Native Hawiian 2 $80,000 $40,000 $0 2.75%
Vietnamese 1 $35,000 $35,000 $0 2.75%

Approval Rates

Total approvals of all applications
87.48%

State Employees' has an average approval rate.

Pick Rate

Approvals leading to origination
81.69%

State Employees' has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 45,474 $7,517,750,000 $165,320

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
45,474 $7,517,750,000 $165,320

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 5,469 $476,745,000 $87,172 $2,256 2.85%
40-60% 6,021 $868,385,000 $144,226 $2,899 3.05%
60-80% 10,619 $2,098,565,000 $197,624 $3,606 3.13%
80-100% 16,260 $3,667,520,000 $225,555 $3,911 3.34%
Over 100% 672 $129,430,000 $192,604 $3,635 3.46%
Under 20% 6,433 $277,105,000 $43,076 $1,610 2.76%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
STATE EMPLOYEES CREDIT UNION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 18.2%
STATE EMPLOYEES CREDIT UNION Conventional home mortgage Closing on a mortgage 2 18.2%
STATE EMPLOYEES CREDIT UNION Conventional home mortgage Struggling to pay mortgage 2 18.2%
STATE EMPLOYEES CREDIT UNION Conventional home mortgage Trouble during payment process 1 9.1%
STATE EMPLOYEES CREDIT UNION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 9.1%
STATE EMPLOYEES CREDIT UNION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 9.1%
STATE EMPLOYEES CREDIT UNION Other type of mortgage Closing on a mortgage 1 9.1%
STATE EMPLOYEES CREDIT UNION Other type of mortgage Trouble during payment process 1 9.1%