State Employees' Mortgage Rates, Fees & Info

Raleigh, NC

LEI: 549300SHE1JTCOWBP090

Tax ID: 56-0475645

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

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

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Mortgage Data

  • SimulatedRates™
  • Review & 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 by origination volume include: Raleigh, Charlotte, Durham, Greensboro, and Asheville among others. We have data for 92 markets. (Some data included below & more in-depth data is available with an active subscription.)

    State Employees' has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. State Employees' is typically an average 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
    Home Equity Line of Credit (HELOC) 6.51% 11/27/22
    30 Year Conventional Purchase 7.40% 11/27/22
    30 Year Conventional Refi 6.99% 11/27/22
    15 Year Conventional Purchase 6.94% 11/27/22
    15 Year Conventional Refi 6.83% 11/27/22
    15 Year Cash-out Refi 6.83% 11/27/22
    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.


    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 mortgage rate was 3.28%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.13%.

    Relative Fees (Closing Costs)

    State Employees''s average total fees/closing costs for a 30 year fixed rate mortgage were $3,883.

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

    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
    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.

    Their top states include:
  • North Carolina (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Similar Lenders

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

    NORTHEAST COMMUNITY
    Similarity Rank: 39
    CONSUMER Credit Union
    Similarity Rank: 80
    HENRICO Federal Credit Union
    Similarity Rank: 420
    CAROLINA FOOTHILLS
    Similarity Rank: 484
    ABNB Federal Credit Union
    Similarity Rank: 544
    Piedmont Federal Savings Bank
    Similarity Rank: 572
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 722
    Countybank
    Similarity Rank: 840

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 34,421 $6,768,815,000 $196,648 $3,566 3.23%
    HELOC 11,053 $748,935,000 $67,759 n/a 2.75%

    For 2021, State Employees''s most frequently originated type of loan was Conventional, with 34,421 originations. Their 2nd most popular type was HELOC, with 11,053 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, State Employees''s most frequently cited loan purpose was Refi, with 21,355 originations. The 2nd most popular reason was 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 2021, State Employees''s most frequently cited loan duration was 30 Year, with 20,560 originations. The 2nd most popular length was Other, with 11,281 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 3,825 $801,475,000 $209,536
    $4k-5k 3,295 $1,005,405,000 $305,131
    $<1k 3,152 $241,330,000 $76,564
    $5k+ 492 $270,540,000 $549,878

    State Employees''s average total fees were $3,883, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.28%, while their most frequently originated rate bucket for loans was 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 or Islander 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 Hawaiian 2 $80,000 $40,000 $0 2.75%
    Vietnamese 1 $35,000 $35,000 $0 2.75%

    Approval Rates

    Total approvals of all applications
    87.57%

    State Employees' has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.20%

    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%