State Employees' Mortgage Rates, Fees & Info
Raleigh, NCLEI: 549300SHE1JTCOWBP090
Tax ID: 56-0475645
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
State Employees' is a mid-sized mortgage company specializing in Home Purchase loans. State Employees' has a high proportion of conventional loans. Their top markets by origination volume include: Raleigh, Charlotte, Durham, Greensboro, and Winston among others. We have data for 97 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 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.12% | 12/17/24 |
| 30 Year Conventional Purchase | 6.03% | 12/17/24 |
| 30 Year Conventional Refi | 6.07% | 12/17/24 |
| 15 Year Conventional Purchase | 5.84% | 12/17/24 |
| 15 Year Conventional Refi | 6.08% | 12/17/24 |
| 15 Year Cash-out Refi | 6.08% | 12/17/24 |
| 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. | ||
State Employees' Mortgage Calculator
Your Estimates
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This is not an official calculator from State Employees'. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
33,943Origination Dollar Volume (All Markets)
$5,386,785,000Awards
STATE EMPLOYEES' - 2023
STATE EMPLOYEES' is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
State Employees''s average 30 year fixed mortgage rate was
5.89%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.59%.
Relative Fees (Closing Costs)
State Employees''s average total fees/closing costs for a 30 year fixed rate
mortgage were $4,248.
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 $9,089.
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) | 6,118 | $1,143,830,000 | $186,961 | $4,400 | 5.92% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4,864 | $752,180,000 | $154,642 | $4,228 | 5.96% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2,525 | $442,265,000 | $175,154 | $4,210 | 5.94% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 2,458 | $349,640,000 | $142,246 | $3,922 | 6.03% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1,964 | $283,570,000 | $144,384 | $3,897 | 6.01% |
| Outside of Metro Areas | 1,868 | $247,670,000 | $132,586 | $3,653 | 6.02% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1,738 | $230,320,000 | $132,520 | $3,794 | 5.99% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1,358 | $228,550,000 | $168,299 | $4,471 | 6.02% |
| WILMINGTON, NC (FHA|USDA|VA) | 917 | $175,565,000 | $191,456 | $4,341 | 5.93% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 784 | $165,950,000 | $211,671 | $4,341 | 5.90% |
| BURLINGTON, NC (FHA|USDA|VA) | 845 | $132,635,000 | $156,964 | $4,074 | 5.92% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 933 | $121,445,000 | $130,166 | $3,954 | 5.93% |
| GREENVILLE, NC (FHA|USDA|VA) | 712 | $94,290,000 | $132,430 | $4,028 | 5.88% |
| Morehead City, NC (FHA|USDA|VA) | 334 | $73,710,000 | $220,689 | $4,287 | 5.87% |
| Albemarle, NC (FHA|USDA|VA) | 464 | $69,920,000 | $150,690 | $4,159 | 5.92% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 506 | $64,890,000 | $128,241 | $3,787 | 5.97% |
| Boone, NC (FHA|USDA|VA) | 253 | $57,265,000 | $226,344 | $4,478 | 5.97% |
| Wilson, NC (FHA|USDA|VA) | 361 | $44,715,000 | $123,864 | $3,795 | 5.94% |
| GOLDSBORO, NC (FHA|USDA|VA) | 384 | $44,540,000 | $115,990 | $3,543 | 6.02% |
| Shelby, NC (FHA|USDA|VA) | 315 | $39,075,000 | $124,048 | $3,804 | 6.08% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 232 | $38,340,000 | $165,259 | $4,253 | 5.91% |
| NEW BERN, NC (FHA|USDA|VA) | 296 | $38,090,000 | $128,682 | $3,723 | 6.10% |
| North Wilkesboro, NC (FHA|USDA|VA) | 294 | $37,790,000 | $128,537 | $3,602 | 5.99% |
| Mount Airy, NC (FHA|USDA|VA) | 322 | $36,400,000 | $113,043 | $3,308 | 5.93% |
| Forest City, NC (FHA|USDA|VA) | 261 | $34,725,000 | $133,046 | $3,695 | 6.08% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 258 | $34,500,000 | $133,721 | $3,726 | 6.23% |
| Sanford, NC (FHA|USDA|VA) | 220 | $31,380,000 | $142,636 | $4,266 | 5.98% |
| Marion, NC (FHA|USDA|VA) | 204 | $30,250,000 | $148,284 | $3,574 | 5.84% |
| Cullowhee, NC (FHA|USDA|VA) | 183 | $24,285,000 | $132,705 | $4,131 | 5.98% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 128 | $23,670,000 | $184,922 | $4,320 | 5.80% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 175 | $21,365,000 | $122,086 | $3,625 | 5.99% |
| Washington, NC (FHA|USDA|VA) | 162 | $20,570,000 | $126,975 | $3,620 | 6.04% |
| Lumberton, NC (FHA|USDA|VA) | 198 | $20,290,000 | $102,475 | $3,403 | 5.85% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 114 | $20,010,000 | $175,526 | $4,273 | 6.02% |
| Kinston, NC (FHA|USDA|VA) | 176 | $19,190,000 | $109,034 | $3,483 | 6.09% |
| Rockingham, NC (FHA|USDA|VA) | 171 | $18,535,000 | $108,392 | $3,527 | 5.98% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 67 | $17,365,000 | $259,179 | $5,020 | 5.93% |
| Henderson, NC (FHA|USDA|VA) | 122 | $16,410,000 | $134,508 | $3,906 | 5.91% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 51 | $13,195,000 | $258,725 | $4,643 | 6.04% |
| Elizabeth City, NC (FHA|USDA|VA) | 111 | $13,025,000 | $117,342 | $3,746 | 6.06% |
| SPARTANBURG, SC (FHA|USDA|VA) | 54 | $11,460,000 | $212,222 | $4,626 | 5.85% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 41 | $10,655,000 | $259,878 | $4,567 | 5.84% |
| Brevard, NC (FHA|USDA|VA) | 50 | $9,570,000 | $191,400 | $4,354 | 6.10% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 13 | $7,535,000 | $579,615 | $6,321 | 5.70% |
| RICHMOND, VA (FHA|USDA|VA) | 33 | $7,425,000 | $225,000 | $4,403 | 5.98% |
| Laurinburg, NC (FHA|USDA|VA) | 62 | $7,240,000 | $116,774 | $3,313 | 6.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 24 | $6,140,000 | $255,833 | $4,794 | 6.03% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 20 | $5,620,000 | $281,000 | $4,874 | 5.88% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 10 | $4,070,000 | $407,000 | $5,191 | 6.31% |
| ROANOKE, VA (FHA|USDA|VA) | 14 | $3,370,000 | $240,714 | $4,521 | 6.40% |
| Sevierville, TN (FHA|USDA|VA) | 4 | $3,310,000 | $827,500 | $4,528 | 5.46% |
| KNOXVILLE, TN (FHA|USDA|VA) | 10 | $2,800,000 | $280,000 | $5,175 | 6.07% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 12 | $2,700,000 | $225,000 | $3,884 | 6.35% |
| Georgetown, SC (FHA|USDA|VA) | 7 | $2,405,000 | $343,571 | $4,493 | 6.94% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 10 | $2,140,000 | $214,000 | $3,923 | 6.01% |
| Gaffney, SC (FHA|USDA|VA) | 14 | $2,090,000 | $149,286 | $3,828 | 5.84% |
| LYNCHBURG, VA (FHA|USDA|VA) | 8 | $2,080,000 | $260,000 | $4,765 | 5.84% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 7 | $1,995,000 | $285,000 | $4,665 | 6.22% |
| FLORENCE, SC (FHA|USDA|VA) | 10 | $1,980,000 | $198,000 | $4,470 | 5.80% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 7 | $1,815,000 | $259,286 | $4,485 | 5.51% |
| SAVANNAH, GA (FHA|USDA|VA) | 6 | $1,720,000 | $286,667 | $5,293 | 6.44% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 11 | $1,675,000 | $152,273 | $3,789 | 5.82% |
| BRUNSWICK, GA (FHA|USDA|VA) | 3 | $1,535,000 | $511,667 | $6,183 | 5.20% |
| Greenwood, SC (FHA|USDA|VA) | 3 | $1,375,000 | $458,333 | $4,988 | 5.35% |
| Seneca, SC (FHA|USDA|VA) | 4 | $1,280,000 | $320,000 | $4,561 | 5.69% |
| Danville, VA (FHA|USDA|VA) | 8 | $990,000 | $123,750 | $3,278 | 5.84% |
| MORRISTOWN, TN (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $5,588 | 5.55% |
| Martinsville, VA (FHA|USDA|VA) | 7 | $705,000 | $100,714 | $3,292 | 5.81% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $4,942 | 6.65% |
| Jefferson, GA (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $4,018 | 6.18% |
| GAINESVILLE, GA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $4,935 | 5.45% |
| Toccoa, GA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $5,631 | 6.25% |
| Statesboro, GA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $4,612 | 5.40% |
| Cornelia, GA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $5,475 | 5.40% |
| Thomasville, GA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $5,780 | 6.75% |
| STAUNTON, VA (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $4,212 | 5.23% |
| CLEVELAND, TN (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $4,529 | 6.01% |
| Greeneville, TN (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $3,457 | 5.39% |
| Bainbridge, GA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $5,625 | 5.65% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $4,728 | 5.23% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 5.88% |
| Bennettsville, SC (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $2,902 | 6.21% |
| Waycross, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,747 | 5.65% |
| Bluefield, WV-VA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,730 | 6.25% |
| DALTON, GA (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $4,024 | 5.20% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,435 | 5.20% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,564 | 6.88% |
| Union, SC (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $3,545 | 7.45% |
| JACKSON, TN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,551 | 5.65% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 6.50% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 5.50% |
| Dyersburg, TN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,374 | 5.40% |
| SUMTER, SC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.25% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.25% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 7.75% |
| VALDOSTA, GA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.00% |
| ROME, GA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 7.25% |
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.
Similarity Rank: 18
Similarity Rank: 65
Similarity Rank: 68
Similarity Rank: 108
Similarity Rank: 110
Similarity Rank: 230
Similarity Rank: 282
Similarity Rank: 290
Similarity Rank: 300
Similarity Rank: 378
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 19,188 | $1,553,500,000 | $80,962 | n/a | 6.03% |
| Conventional | 14,755 | $3,833,285,000 | $259,796 | $4,072 | 5.89% |
For 2023, State Employees''s most frequently originated type of loan was HELOC, with 19,188 originations. Their 2nd most popular type was Conventional, with 14,755 originations.
Loan Reason
For 2023, State Employees''s most frequently cited loan purpose was Home Purchase, with 12,800 originations. The 2nd most popular reason was Home Improvement, with 9,049 originations.
Loan Duration/Length
For 2023, State Employees''s most frequently cited loan duration was Other, with 19,204 originations. The 2nd most popular length was 30 Year, with 12,595 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $2k-3k | 8,820 | $2,967,310,000 | $336,430 |
| $1k-2k | 3,762 | $561,550,000 | $149,269 |
| $<1k | 1,053 | $76,555,000 | $72,702 |
State Employees''s average total fees were $4,248, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 8,820 originations.
Interest Rates
During 2023, State Employees''s average interest rate for loans was 5.89%, while their most frequently originated rate bucket for loans was 4-5%, with 11,840 originations.
Loan Sizing
2023 saw State Employees' place emphasis on $100,000 or less loans with 15,836 originations, totaling $839,090,000 in origination value.
Applicant Income
State Employees' lent most frequently to those with incomes in the $100k-150k range, with 8,896 originations. The second most popular income band? $50k-75k, with 7,434 originations.
Applicant Debt to Income Ratio
State Employees' lent most frequently to those with DTI ratios of 20-30%, with 6,575 originations. The next most common DTI ratio? 30-36%, with 6,193 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.62%
State Employees' has a below average approval rate.
Pick Rate
Approvals leading to origination80.87%
State Employees' has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 33,943 | $5,386,785,000 | $158,701 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 33,943 | $5,386,785,000 | $158,701 |