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 and Refi loans. State Employees' has a high proportion of conventional loans. Their top markets by origination volume include: Raleigh, Charlotte, Durham, Asheville, and Greensboro among others. We have data for 88 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.12% | 4/22/24 |
| 30 Year Conventional Purchase | 6.03% | 4/22/24 |
| 30 Year Conventional Refi | 6.07% | 4/22/24 |
| 15 Year Conventional Purchase | 5.84% | 4/22/24 |
| 15 Year Conventional Refi | 6.08% | 4/22/24 |
| 15 Year Cash-out Refi | 6.08% | 4/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
30,643Origination Dollar Volume (All Markets)
$4,411,695,000Awards
STATE EMPLOYEES' - 2019
STATE EMPLOYEES' is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 5,626 | $925,480,000 | $164,501 | $2,477 | 4.39% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4,242 | $630,100,000 | $148,538 | $2,424 | 4.40% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2,816 | $449,120,000 | $159,489 | $2,424 | 4.35% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1,717 | $285,805,000 | $166,456 | $2,566 | 4.27% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 2,103 | $271,325,000 | $129,018 | $2,398 | 4.43% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1,610 | $218,850,000 | $135,932 | $2,331 | 4.39% |
| Outside of Metro Areas | 1,795 | $212,455,000 | $118,359 | $2,343 | 4.30% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1,479 | $176,305,000 | $119,206 | $2,267 | 4.37% |
| WILMINGTON, NC (FHA|USDA|VA) | 806 | $136,780,000 | $169,702 | $2,605 | 4.35% |
| BURLINGTON, NC (FHA|USDA|VA) | 797 | $115,655,000 | $145,113 | $2,496 | 4.41% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 637 | $100,195,000 | $157,292 | $2,600 | 4.26% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 600 | $70,100,000 | $116,833 | $2,402 | 4.41% |
| GREENVILLE, NC (FHA|USDA|VA) | 533 | $64,895,000 | $121,754 | $2,411 | 4.42% |
| Morehead City, NC (FHA|USDA|VA) | 273 | $50,855,000 | $186,282 | $2,677 | 4.19% |
| Albemarle, NC (FHA|USDA|VA) | 384 | $49,490,000 | $128,880 | $2,633 | 4.38% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 379 | $46,555,000 | $122,836 | $2,417 | 4.40% |
| GOLDSBORO, NC (FHA|USDA|VA) | 372 | $40,390,000 | $108,575 | $2,213 | 4.37% |
| Wilson, NC (FHA|USDA|VA) | 319 | $39,795,000 | $124,749 | $2,267 | 4.36% |
| North Wilkesboro, NC (FHA|USDA|VA) | 309 | $35,225,000 | $113,997 | $2,375 | 4.35% |
| Marion, NC (FHA|USDA|VA) | 267 | $32,855,000 | $123,052 | $2,325 | 4.41% |
| Cullowhee, NC (FHA|USDA|VA) | 215 | $32,795,000 | $152,535 | $2,748 | 4.31% |
| Forest City, NC (FHA|USDA|VA) | 275 | $30,735,000 | $111,764 | $2,372 | 4.36% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 208 | $30,020,000 | $144,327 | $2,463 | 4.34% |
| Boone, NC (FHA|USDA|VA) | 193 | $29,555,000 | $153,135 | $2,397 | 4.27% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 198 | $27,640,000 | $139,596 | $2,559 | 4.36% |
| NEW BERN, NC (FHA|USDA|VA) | 231 | $26,495,000 | $114,697 | $2,305 | 4.32% |
| Mount Airy, NC (FHA|USDA|VA) | 248 | $26,360,000 | $106,290 | $2,079 | 4.29% |
| Shelby, NC (FHA|USDA|VA) | 212 | $23,750,000 | $112,028 | $2,237 | 4.39% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 123 | $22,115,000 | $179,797 | $2,644 | 4.26% |
| Washington, NC (FHA|USDA|VA) | 161 | $19,005,000 | $118,043 | $2,376 | 4.36% |
| Sanford, NC (FHA|USDA|VA) | 158 | $18,970,000 | $120,063 | $2,381 | 4.47% |
| Lumberton, NC (FHA|USDA|VA) | 178 | $17,640,000 | $99,101 | $2,271 | 4.37% |
| Henderson, NC (FHA|USDA|VA) | 138 | $16,620,000 | $120,435 | $2,357 | 4.42% |
| Kinston, NC (FHA|USDA|VA) | 155 | $14,095,000 | $90,935 | $2,149 | 4.33% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 80 | $12,830,000 | $160,375 | $2,770 | 4.35% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 134 | $12,310,000 | $91,866 | $2,235 | 4.44% |
| Elizabeth City, NC (FHA|USDA|VA) | 97 | $11,945,000 | $123,144 | $2,278 | 4.34% |
| Rockingham, NC (FHA|USDA|VA) | 128 | $11,780,000 | $92,031 | $2,172 | 4.48% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 46 | $10,980,000 | $238,696 | $3,367 | 4.38% |
| Brevard, NC (FHA|USDA|VA) | 58 | $9,110,000 | $157,069 | $2,810 | 4.35% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 30 | $6,900,000 | $230,000 | $3,080 | 4.34% |
| Laurinburg, NC (FHA|USDA|VA) | 76 | $6,670,000 | $87,763 | $2,065 | 4.37% |
| SPARTANBURG, SC (FHA|USDA|VA) | 38 | $5,660,000 | $148,947 | $2,845 | 4.46% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 22 | $4,600,000 | $209,091 | $3,202 | 4.13% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 9 | $3,135,000 | $348,333 | $3,598 | 4.15% |
| COLUMBIA, SC (FHA|USDA|VA) | 17 | $2,455,000 | $144,412 | $2,753 | 4.18% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 15 | $1,905,000 | $127,000 | $2,462 | 4.20% |
| Danville, VA (FHA|USDA|VA) | 15 | $1,765,000 | $117,667 | $2,472 | 4.43% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 8 | $1,650,000 | $206,250 | $3,682 | 4.70% |
| ROANOKE, VA (FHA|USDA|VA) | 5 | $1,585,000 | $317,000 | $3,192 | 4.03% |
| Georgetown, SC (FHA|USDA|VA) | 6 | $1,260,000 | $210,000 | $3,083 | 4.02% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 4 | $1,210,000 | $302,500 | $3,034 | 4.34% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $1,185,000 | $395,000 | $3,957 | 3.88% |
| RICHMOND, VA (FHA|USDA|VA) | 8 | $1,130,000 | $141,250 | $2,932 | 4.14% |
| Sevierville, TN (FHA|USDA|VA) | 7 | $1,115,000 | $159,286 | $3,285 | 3.98% |
| LYNCHBURG, VA (FHA|USDA|VA) | 6 | $1,060,000 | $176,667 | $2,725 | 4.38% |
| KNOXVILLE, TN (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $3,427 | 4.22% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 4 | $920,000 | $230,000 | $3,257 | 4.09% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 7 | $865,000 | $123,571 | $2,819 | 4.20% |
| SAVANNAH, GA (FHA|USDA|VA) | 4 | $860,000 | $215,000 | $3,377 | 4.38% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $3,455 | 4.04% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 4 | $640,000 | $160,000 | $2,601 | 4.53% |
| Greeneville, TN (FHA|USDA|VA) | 4 | $620,000 | $155,000 | $2,422 | 4.47% |
| Seneca, SC (FHA|USDA|VA) | 4 | $480,000 | $120,000 | $2,321 | 4.41% |
| MORRISTOWN, TN (FHA|USDA|VA) | 4 | $450,000 | $112,500 | $2,200 | 4.03% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $3,693 | 4.25% |
| STAUNTON, VA (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $2,883 | 3.63% |
| FLORENCE, SC (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $2,576 | 3.67% |
| VALDOSTA, GA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $3,072 | 4.50% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,577 | 4.88% |
| Bennettsville, SC (FHA|USDA|VA) | 4 | $330,000 | $82,500 | $2,108 | 4.09% |
| Gaffney, SC (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $3,644 | 4.31% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $3,694 | 3.88% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $3,364 | 5.13% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,162 | 3.88% |
| JACKSON, TN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,495 | 3.88% |
| Cornelia, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,350 | 3.88% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,780 | 4.38% |
| SUMTER, SC (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $2,027 | 4.06% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,326 | 4.88% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,192 | 3.38% |
| Martinsville, VA (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $1,538 | 4.56% |
| CLEVELAND, TN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,940 | 3.88% |
| Dublin, GA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,864 | 4.38% |
| Newport, TN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,058 | 4.25% |
| Greenwood, SC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.75% |
| DALTON, GA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,979 | 3.75% |
| Thomasville, GA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.75% |
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: 75
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 22,624 | $3,982,050,000 | $176,010 | $2,431 | 4.20% |
| HELOC | 8,019 | $429,645,000 | $53,578 | n/a | 4.84% |
For 2019, State Employees''s most frequently originated type of loan was Conventional, with 22,624 originations. Their 2nd most popular type was HELOC, with 8,019 originations.
Loan Reason
For 2019, State Employees''s most frequently cited loan purpose was Home Purchase, with 13,798 originations. The 2nd most popular reason was Refi, with 9,865 originations.
Loan Duration/Length
For 2019, State Employees''s most frequently cited loan duration was 30 Year, with 13,882 originations. The 2nd most popular length was Other, with 8,487 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 13,613 | $3,125,245,000 | $229,578 |
| $<1k | 7,833 | $722,095,000 | $92,186 |
State Employees''s average total fees were $2,662, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 13,613 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 19,149 | $2,672,035,000 | $139,539 |
| 3-4% | 9,084 | $1,589,400,000 | $174,967 |
| 5-6% | 2,410 | $150,260,000 | $62,349 |
During 2019, State Employees''s average interest rate for loans was 4.24%, while their most frequently originated rate bucket for loans was 4-5%, with 19,149 originations.
Loan Sizing
2019 saw State Employees' place emphasis on $100,000 or less loans with 12,040 originations, totaling $646,280,000 in origination value.
Applicant Income
State Employees' lent most frequently to those with incomes in the $50k-75k range, with 8,374 originations. The second most popular income band? $100k-150k, with 6,720 originations.
Applicant Debt to Income Ratio
State Employees' lent most frequently to those with DTI ratios of 20-30%, with 8,818 originations. The next most common DTI ratio? 30-36%, with 6,768 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.21%
State Employees' has an average approval rate.
Pick Rate
Approvals leading to origination82.90%
State Employees' has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 30,643 | $4,411,695,000 | $143,971 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1,167 | $92,135,000 | $78,950 |
| Single Family (1-4 Units):Site-Built | 29,476 | $4,319,560,000 | $146,545 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| STATE EMPLOYEES CREDIT UNION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
| STATE EMPLOYEES CREDIT UNION | Conventional home mortgage | Struggling to pay mortgage | 2 | 40.0% |
| STATE EMPLOYEES CREDIT UNION | Conventional home mortgage | Trouble during payment process | 1 | 20.0% |
| STATE EMPLOYEES CREDIT UNION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 20.0% |