Sentinel Federal Credit Union Mortgage Rates, Fees & Info

Ellsworth, SD

LEI: 549300SQN9E467RQOF48

Tax ID: 46-0248915

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Sentinel Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Sentinel Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Rapid City, Spearfish, and Sioux Falls among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Sentinel Federal Credit Union 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.

    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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    Originations

    54

    Origination Dollar Volume (All Markets)

    $7,970,000

    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
    RAPID CITY, SD (FHA|USDA|VA) 33 $4,155,000 $125,909 $1,321 5.34%
    Spearfish, SD (FHA|USDA|VA) 5 $1,975,000 $395,000 $1,018 5.65%
    Outside of Metro Areas 15 $1,665,000 $111,000 $2,123 5.44%
    SIOUX FALLS, SD (FHA|USDA|VA) 1 $175,000 $175,000 $4,411 4.00%
    Sentinel Federal Credit Union's top markets include Rapid City, Spearfish, and Sioux Falls among others.

    Their top states include:
  • South Dakota (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 54 $7,970,000 $147,593 $1,676 5.37%

    For 2019, Sentinel Federal Credit Union's most frequently originated type of loan was Conventional, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 19 $4,275,000 $225,000 $2,608 5.19%
    Refi 11 $1,705,000 $155,000 $2,034 5.41%
    Home Improvement 9 $445,000 $49,444 $762 5.67%
    Cash Out Refi 8 $1,160,000 $145,000 $2,692 4.72%
    Other 7 $385,000 $55,000 $647 6.18%

    For 2019, Sentinel Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Refi, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 26 $5,100,000 $196,154 $812 5.39%
    15 Year 17 $1,915,000 $112,647 $2,217 5.53%
    5 Year 9 $705,000 $78,333 $1,291 5.17%
    20 Year 1 $165,000 $165,000 $3,334 4.00%
    Other 1 $85,000 $85,000 $0 5.25%

    For 2019, Sentinel Federal Credit Union's most frequently cited loan duration was 10 Year, with 26 originations. The 2nd most popular length was 15 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 21 $1,025,000 $48,810
    $1k-2k 9 $1,245,000 $138,333
    $2k-3k 5 $975,000 $195,000

    Sentinel Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 21 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 22 $4,120,000 $187,273
    4-5% 20 $2,840,000 $142,000
    6-7% 8 $450,000 $56,250
    3-4% 3 $465,000 $155,000
    7-8% 1 $95,000 $95,000

    During 2019, Sentinel Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 22 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 23 $1,075,000 $46,739 $430 5.85%
    $100k-200k 20 $2,900,000 $145,000 $3,013 4.98%
    $200k-400k 10 $2,610,000 $261,000 $4,147 5.03%
    $1MM+ 1 $1,385,000 $1,385,000 $0 5.50%

    2019 saw Sentinel Federal Credit Union place emphasis on $100,000 or less loans with 23 originations, totaling $1,075,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 11 $875,000 $79,545 $1,350 5.52%
    $50k or less 9 $685,000 $76,111 $1,361 5.54%
    $50k-75k 8 $840,000 $105,000 $1,712 5.63%
    $100k-150k 6 $700,000 $116,667 $2,594 4.71%
    $150k-250k 2 $190,000 $95,000 $1,998 5.50%
    $250k+ 2 $240,000 $120,000 $1,354 5.50%

    Sentinel Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 11 originations. The second most popular income band? $50k or less, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 10 $990,000 $99,000 $1,737 5.10%
    30-36% 7 $875,000 $125,000 $2,644 5.05%
    <20% 4 $320,000 $80,000 $1,098 5.75%
    42% 3 $305,000 $101,667 $1,470 5.33%
    47% 2 $60,000 $30,000 $274 5.50%
    37% 2 $190,000 $95,000 $1,887 5.75%
    40% 2 $140,000 $70,000 $1,198 6.88%
    41% 2 $330,000 $165,000 $3,548 4.75%
    43% 1 $75,000 $75,000 $1,018 6.50%
    44% 1 $25,000 $25,000 $334 6.25%
    38% 1 $35,000 $35,000 $274 6.50%

    Sentinel Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? 30-36%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 16 $4,440,000 $277,500 $0 5.26%
    White 36 $3,480,000 $96,667 $1,761 5.44%
    Korean 1 $35,000 $35,000 $274 5.00%
    Not provided 1 $15,000 $15,000 $274 5.00%

    Approval Rates

    Total approvals of all applications
    93.85%

    Sentinel Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.04%

    Sentinel Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 54 $7,970,000 $147,593

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $3,480,000 $348,000
    Single Family (1-4 Units):Manufactured 8 $1,040,000 $130,000
    Single Family (1-4 Units):Site-Built 36 $3,450,000 $95,833

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $955,000 $86,818 $314 5.72%
    40-60% 8 $1,180,000 $147,500 $1,718 5.31%
    60-80% 14 $3,830,000 $273,571 $3,400 5.05%
    80-100% 10 $1,540,000 $154,000 $2,921 4.99%
    Over 100% 1 $55,000 $55,000 $0 5.50%
    Under 20% 10 $410,000 $41,000 $478 5.85%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    SANTANDER BANK, NATIONAL ASSOCIATION Other type of mortgage Trouble during payment process 5 6.7%
    SANTANDER BANK, NATIONAL ASSOCIATION VA mortgage Trouble during payment process 1 1.3%
    SANTANDER BANK, NATIONAL ASSOCIATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 5 6.7%
    SANTANDER BANK, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 3 4.0%
    SANTANDER BANK, NATIONAL ASSOCIATION Conventional home mortgage Incorrect information on your report 1 1.3%
    SANTANDER BANK, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 9 12.0%
    SANTANDER BANK, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 24 32.0%
    SANTANDER BANK, NATIONAL ASSOCIATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 2.7%
    SANTANDER BANK, NATIONAL ASSOCIATION FHA mortgage Trouble during payment process 1 1.3%
    SANTANDER BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 5 6.7%
    SANTANDER BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Closing on a mortgage 2 2.7%
    SANTANDER BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Struggling to pay mortgage 3 4.0%
    SANTANDER BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Trouble during payment process 8 10.7%
    SANTANDER BANK, NATIONAL ASSOCIATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 2.7%
    SANTANDER BANK, NATIONAL ASSOCIATION Other type of mortgage Closing on a mortgage 3 4.0%
    SANTANDER BANK, NATIONAL ASSOCIATION Other type of mortgage Struggling to pay mortgage 1 1.3%