Self-help Federal Credit Union Mortgage Rates, Fees & Info

Durham, NC

LEI: 549300UHEEV73TKCZY62

Tax ID: 26-3016612

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Self-help Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Self-help Federal Credit Union has a high proportion of conventional loans. Their top markets include Chicago, Stockton, Sacramento, Modesto, and Bakersfield among others. Self-help Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

878

Origination Dollar Volume (All Markets)

$192,560,000

Relative Rate

Self-help Federal Credit Union's average 30 year fixed rate mortgage of loans were 4.84%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 1.69%.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 492 $89,210,000 $181,321 $0 4.93%
STOCKTON, CA (FHA|USDA|VA) 42 $13,630,000 $324,524 $0 4.57%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 35 $11,125,000 $317,857 $0 4.61%
MODESTO, CA (FHA|USDA|VA) 33 $10,525,000 $318,939 $0 4.71%
BAKERSFIELD, CA (FHA|USDA|VA) 42 $8,130,000 $193,571 $0 4.69%
MERCED, CA (FHA|USDA|VA) 27 $7,825,000 $289,815 $0 4.66%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 16 $7,110,000 $444,375 $0 4.52%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 21 $6,105,000 $290,714 $0 4.85%
VISALIA, CA (FHA|USDA|VA) 31 $5,935,000 $191,452 $0 4.88%
FRESNO, CA (FHA|USDA|VA) 27 $5,375,000 $199,074 $0 4.65%
YAKIMA, WA (FHA|USDA|VA) 26 $5,080,000 $195,385 $0 4.81%
VALLEJO, CA (FHA|USDA|VA) 11 $4,265,000 $387,727 $0 4.32%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 9 $3,445,000 $382,778 $0 4.58%
MADERA, CA (FHA|USDA|VA) 8 $1,970,000 $246,250 $0 4.70%
YUBA CITY, CA (FHA|USDA|VA) 6 $1,770,000 $295,000 $0 4.94%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 11 $1,495,000 $135,909 $0 4.60%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 3 $1,395,000 $465,000 $0 4.38%
ROCKFORD, IL (FHA|USDA|VA) 10 $1,380,000 $138,000 $0 4.95%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 6 $1,120,000 $186,667 $0 4.65%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 4 $1,100,000 $275,000 $0 4.59%
CHICO, CA (FHA|USDA|VA) 4 $960,000 $240,000 $0 4.81%
Clearlake, CA (FHA|USDA|VA) 3 $695,000 $231,667 $0 4.63%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $585,000 $585,000 $0 4.25%
Outside of Metro Areas 1 $565,000 $565,000 $0 4.96%
RACINE, WI (FHA|USDA|VA) 3 $365,000 $121,667 $0 4.88%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $295,000 $295,000 $0 4.75%
Red Bluff, CA (FHA|USDA|VA) 1 $275,000 $275,000 $0 5.88%
NAPA, CA (FHA|USDA|VA) 1 $225,000 $225,000 $0 4.63%
Moses Lake, WA (FHA|USDA|VA) 1 $215,000 $215,000 $0 4.75%
BURLINGTON, NC (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.63%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $185,000 $185,000 $0 5.63%

Self-help Federal Credit Union's top markets include Chicago, Stockton, Sacramento, Modesto, and Bakersfield among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 878 $192,560,000 $219,317 $0 4.82%

For the 2021 period, Self-help Federal Credit Union's most frequently originated loan type of loans were Conventional, with 878 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 861 $189,465,000 $220,052 $0 4.83%
Refi 9 $1,245,000 $138,333 $0 4.51%
Other 8 $1,850,000 $231,250 $0 4.59%

For the 2021, Self-help Federal Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 861 originations. The 2nd most popular reason of loans were Refi, with 9 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 853 $188,645,000 $221,155 $0 4.84%
15 Year 15 $2,005,000 $133,667 $0 4.10%
10 Year 5 $1,035,000 $207,000 $0 4.36%
20 Year 4 $670,000 $167,500 $0 5.19%
Other 1 $205,000 $205,000 $0 5.13%

For the 2021, Self-help Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 853 originations. The 2nd most popular length of loans were 15 Year, with 15 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 347 $53,795,000 $155,029
$2k-3k 267 $62,915,000 $235,637
$5k+ 141 $43,895,000 $311,312
$3k-4k 86 $28,010,000 $325,698
$<1k 33 $2,555,000 $77,424

$0 of loans were Self-help Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 347 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
4-5% 657 $148,115,000 $225,441
5-6% 144 $29,840,000 $207,222
3-4% 46 $9,270,000 $201,522
6-7% 30 $5,260,000 $175,333
2.5-3% 1 $75,000 $75,000

During 2021, Self-help Federal Credit Union's average interest rate of loans were 4.84%, while their most frequently originated rate bucket of loans were 4-5%, with 657 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 409 $108,105,000 $264,315 $0 4.76%
$100k-200k 384 $60,620,000 $157,865 $0 4.94%
$100,000 or less 42 $3,310,000 $78,810 $0 4.53%
$400k-600k 40 $18,710,000 $467,750 $0 4.67%
$600k-1MM 3 $1,815,000 $605,000 $0 4.54%

2021 saw Self-help Federal Credit Union place emphasis on $200k-400k loans with 409 originations, totaling $108,105,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 361 $75,535,000 $209,238 $0 4.90%
$50k or less 270 $41,370,000 $153,222 $0 4.78%
$75k-100k 161 $43,065,000 $267,484 $0 4.77%
$100k-150k 73 $26,935,000 $368,973 $0 4.72%
$150k-250k 8 $3,660,000 $457,500 $0 4.64%
$250k+ 1 $605,000 $605,000 $0 4.63%

Self-help Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 361 originations. The second most popular income band? $50k or less, with 270 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 224 $51,100,000 $228,125 $0 4.83%
20-30% 153 $30,645,000 $200,294 $0 4.82%
41% 78 $16,920,000 $216,923 $0 4.84%
39% 76 $17,260,000 $227,105 $0 4.79%
40% 71 $16,285,000 $229,366 $0 4.82%
38% 68 $15,020,000 $220,882 $0 4.83%
42% 62 $12,340,000 $199,032 $0 4.93%
37% 60 $14,460,000 $241,000 $0 4.77%
36% 51 $11,585,000 $227,157 $0 4.76%
<20% 16 $3,130,000 $195,625 $0 4.76%
43% 4 $600,000 $150,000 $0 4.88%
44% 3 $505,000 $168,333 $0 4.46%
47% 3 $525,000 $175,000 $0 5.33%
48% 2 $330,000 $165,000 $0 4.44%
49% 2 $360,000 $180,000 $0 4.63%
46% 1 $105,000 $105,000 $0 5.63%

Self-help Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 224 originations. The next most common DTI ratio? 20-30%, with 153 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 867 $190,245,000 $219,429 $0 4.83%
Not applicable 4 $1,390,000 $347,500 $0 5.49%
Black 6 $780,000 $130,000 $0 3.56%
American Indian 1 $145,000 $145,000 $0 4.75%

Approval Rates

Total approvals of all applications
83.01%

Self-help Federal Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
85.01%

Self-help Federal Credit Union has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 878 $192,560,000 $219,317

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
878 $192,560,000 $219,317

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 5 $575,000 $115,000 $0 4.45%
40-60% 17 $2,875,000 $169,118 $0 4.29%
60-80% 86 $19,090,000 $221,977 $0 4.50%
80-100% 768 $169,430,000 $220,612 $0 4.87%
Over 100% 2 $590,000 $295,000 $0 5.57%