Service First Federal Credit Union Mortgage Rates, Fees & Info
Sioux Falls, SDLEI: 549300VTMXH07KUIB722
Tax ID: 46-0224713
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Mortgage Data
Review & Overview
Service First Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Service First Federal Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Sioux Falls, Sioux City, Spearfish, Minneapolis, and Spirit Lake among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Service First 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.
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Originations
278Origination Dollar Volume (All Markets)
$53,290,000Top 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 |
|---|---|---|---|---|---|
| SIOUX FALLS, SD (FHA|USDA|VA) | 244 | $47,850,000 | $196,107 | $0 | 0.00% |
| Outside of Metro Areas | 11 | $1,725,000 | $156,818 | $0 | 0.00% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 11 | $1,585,000 | $144,091 | $0 | 0.00% |
| Spearfish, SD (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Spirit Lake, IA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Brookings, SD (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Vermillion, SD (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 0.00% |
| Mitchell, SD (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Marshall, MN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against SERVICE FIRST FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2019, Service First Federal Credit Union's most frequently originated type of loan was Conventional, with 193 originations. Their 2nd most popular type was FHA, with 57 originations.
Loan Reason
For 2019, Service First Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 171 originations. The 2nd most popular reason was Cash Out Refi, with 63 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 278 | $53,290,000 | $191,691 | $0 | 0.00% |
For 2019, Service First Federal Credit Union's most frequently cited loan duration was Other, with 278 originations.
Loan Sizing
2019 saw Service First Federal Credit Union place emphasis on $200k-400k loans with 114 originations, totaling $28,800,000 in origination value.
Applicant Income
Service First Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 93 originations. The second most popular income band? $50k or less, with 71 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 278 | $53,290,000 | $191,691 | $0 | 0.00% |
Service First Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 278 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.54%
Service First Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination78.42%
Service First Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 278 | $53,290,000 | $191,691 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 278 | $53,290,000 | $191,691 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Service Finance Holdings, LLC | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 100.0% |