Scient Federal Credit Union Mortgage Rates, Fees & Info

Groton, CT

LEI: 549300UG1DH7RQL41718

Tax ID: 06-0844560

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Mortgage Data

Review & Overview

Scient Federal Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. Scient Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Norwich, Hartford, New Haven, New York, and Providence among others. We have data for 27 markets. (Some data included below & more in-depth data is available with an active subscription.)

Scient 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.

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
30 Year Conventional Purchase 6.11% 12/7/24
30 Year Conventional Refi 6.09% 12/7/24
30 Year Cash-out Refi 6.17% 12/7/24
15 Year Conventional Purchase 5.29% 12/7/24
15 Year Conventional Refi 5.36% 12/7/24
15 Year Cash-out Refi 5.36% 12/7/24
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

204

Origination Dollar Volume (All Markets)

$42,950,000

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
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 108 $20,530,000 $190,093 $0 0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 20 $4,010,000 $200,500 $0 0.00%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 13 $3,045,000 $234,231 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 8 $2,560,000 $320,000 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 14 $2,480,000 $177,143 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 5 $1,835,000 $367,000 $0 0.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 4 $1,190,000 $297,500 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 5 $905,000 $181,000 $0 0.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $805,000 $268,333 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $765,000 $255,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $680,000 $340,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $570,000 $285,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
Outside of Metro Areas 2 $340,000 $170,000 $0 0.00%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
Adrian, MI (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Scient Federal Credit Union's top markets include Norwich, Hartford, New Haven, New York, and Providence among others.

Their top states include:
  • Connecticut (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • 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.

    Centreville Bank
    Similarity Rank: 112
    CorePlus Federal Credit Union
    Similarity Rank: 250
    WESTERLY COMMUNITY
    Similarity Rank: 345
    Chelsea Groton Bank
    Similarity Rank: 352
    Charter Oak Federal Credit Union
    Similarity Rank: 441
    Liberty Bank
    Similarity Rank: 637
    Eastern Bank
    Similarity Rank: 684

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 204 $42,950,000 $210,539 $0 0.00%

    For 2020, Scient Federal Credit Union's most frequently originated type of loan was Conventional, with 204 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 87 $18,885,000 $217,069 $0 0.00%
    Cash Out Refi 61 $16,375,000 $268,443 $0 0.00%
    Other 34 $2,140,000 $62,941 $0 0.00%
    Home Purchase 22 $5,550,000 $252,273 $0 0.00%

    For 2020, Scient Federal Credit Union's most frequently cited loan purpose was Refi, with 87 originations. The 2nd most popular reason was Cash Out Refi, with 61 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 204 $42,950,000 $210,539 $0 0.00%

    For 2020, Scient Federal Credit Union's most frequently cited loan duration was Other, with 204 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 94 $25,630,000 $272,660 $0 0.00%
    $100k-200k 51 $7,715,000 $151,275 $0 0.00%
    $100,000 or less 43 $2,225,000 $51,744 $0 0.00%
    $400k-600k 16 $7,380,000 $461,250 $0 0.00%

    2020 saw Scient Federal Credit Union place emphasis on $200k-400k loans with 94 originations, totaling $25,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 68 $13,850,000 $203,676 $0 0.00%
    $150k-250k 61 $14,465,000 $237,131 $0 0.00%
    $250k+ 32 $9,240,000 $288,750 $0 0.00%
    $75k-100k 22 $3,100,000 $140,909 $0 0.00%
    $50k-75k 11 $1,535,000 $139,545 $0 0.00%
    $50k or less 10 $760,000 $76,000 $0 0.00%

    Scient Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 68 originations. The second most popular income band? $150k-250k, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 204 $42,950,000 $210,539 $0 0.00%

    Scient Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 204 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 179 $36,205,000 $202,263 $0 0.00%
    Asian 11 $3,675,000 $334,091 $0 0.00%
    Black 7 $1,785,000 $255,000 $0 0.00%
    Not provided 2 $610,000 $305,000 $0 0.00%
    Asian Indian 1 $345,000 $345,000 $0 0.00%
    American Indian 3 $305,000 $101,667 $0 0.00%
    Other Asian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.00%

    Scient Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.45%

    Scient Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 204 $42,950,000 $210,539

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 204 $42,950,000 $210,539

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    SUMMIT FUNDING, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
    SUMMIT FUNDING, INC. Conventional home mortgage Closing on a mortgage 1 16.7%
    SUMMIT FUNDING, INC. Conventional home mortgage Trouble during payment process 2 33.3%
    SUMMIT FUNDING, INC. FHA mortgage Trouble during payment process 1 16.7%
    SUMMIT FUNDING, INC. VA mortgage Closing on a mortgage 1 16.7%