Scient Federal Credit Union Mortgage Rates, Fees & Info
Groton, CTLEI: 549300UG1DH7RQL41718
Tax ID: 06-0844560
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Mortgage Data
Review & Overview
Scient Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Scient Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Norwich, New York, Charlotte, Hartford, and New Haven among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Scient Federal Credit Union 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.
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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.11% | 5/5/24 |
| 30 Year Conventional Refi | 6.09% | 5/5/24 |
| 30 Year Cash-out Refi | 6.17% | 5/5/24 |
| 15 Year Conventional Purchase | 5.29% | 5/5/24 |
| 15 Year Conventional Refi | 5.36% | 5/5/24 |
| 15 Year Cash-out Refi | 5.36% | 5/5/24 |
| 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. | ||
Scient Federal Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Scient Federal Credit Union. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
77Origination Dollar Volume (All Markets)
$10,745,000Top 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 |
|---|---|---|---|---|---|
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 35 | $4,265,000 | $121,857 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 9 | $1,275,000 | $141,667 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 6 | $640,000 | $106,667 | $0 | 0.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 5 | $625,000 | $125,000 | $0 | 0.00% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $0 | 0.00% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $165,000 | $165,000 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against SCIENT Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 36
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 77 | $10,745,000 | $139,545 | $0 | 0.00% |
For 2018, Scient Federal Credit Union's most frequently originated type of loan was Conventional, with 77 originations.
Loan Reason
For 2018, Scient Federal Credit Union's most frequently cited loan purpose was Other, with 36 originations. The 2nd most popular reason was Home Purchase, with 18 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 77 | $10,745,000 | $139,545 | $0 | 0.00% |
For 2018, Scient Federal Credit Union's most frequently cited loan duration was Other, with 77 originations.
Loan Sizing
2018 saw Scient Federal Credit Union place emphasis on $100,000 or less loans with 34 originations, totaling $1,620,000 in origination value.
Applicant Income
Scient Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $150k-250k, with 21 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 77 | $10,745,000 | $139,545 | $0 | 0.00% |
Scient Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 77 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.71%
Scient Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination79.22%
Scient Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 77 | $10,745,000 | $139,545 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 77 | $10,745,000 | $139,545 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SUMMIT FUNDING, INC. | Conventional home mortgage | Struggling to pay mortgage | 1 | 10.0% |
| SUMMIT FUNDING, INC. | Conventional home mortgage | Trouble during payment process | 3 | 30.0% |
| SUMMIT FUNDING, INC. | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 10.0% |
| SUMMIT FUNDING, INC. | FHA mortgage | Struggling to pay mortgage | 1 | 10.0% |
| SUMMIT FUNDING, INC. | FHA mortgage | Trouble during payment process | 3 | 30.0% |
| SUMMIT FUNDING, INC. | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 10.0% |