South Carolina Federal Credit Union Mortgage Rates, Fees & Info
North Charleston, SCLEI: 549300WC12JROIUVWY16
Tax ID: 57-0323645
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Mortgage Data
Review & Overview
South Carolina Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. South Carolina Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Charleston, Columbia, Charlotte, Myrtle Beach, and Greenville among others. We have data for 32 markets. (Some data included below & more in-depth data is available with an active subscription.)South Carolina 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. South Carolina Federal Credit Union is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.72% | 4/5/25 |
| 30 Year Conventional Purchase | 6.78% | 4/5/25 |
| 30 Year Conventional Refi | 6.70% | 4/5/25 |
| 30 Year Cash-out Refi | 6.74% | 4/5/25 |
| 15 Year Conventional Purchase | 5.96% | 4/5/25 |
| 15 Year Conventional Refi | 6.00% | 4/5/25 |
| 15 Year Cash-out Refi | 6.00% | 4/5/25 |
| 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. | ||
South Carolina Federal Credit Union Mortgage Calculator
Your Estimates
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This is not an official calculator from South Carolina Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,103Origination Dollar Volume (All Markets)
$256,715,000Awards
SOUTH CAROLINA FEDERAL CREDIT UNION - 2024
SOUTH CAROLINA FEDERAL CREDIT UNION is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
South Carolina Federal Credit Union's average 30 year fixed mortgage rate was
6.05%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.5%.
Relative Fees (Closing Costs)
South Carolina Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $8,683.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 747 | $183,795,000 | $246,044 | $4,942 | 7.64% |
| COLUMBIA, SC (FHA|USDA|VA) | 82 | $12,700,000 | $154,878 | $3,879 | 7.75% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 20 | $11,430,000 | $571,500 | $8,634 | 6.92% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 39 | $9,685,000 | $248,333 | $5,876 | 7.60% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 70 | $9,510,000 | $135,857 | $3,384 | 8.38% |
| Outside of Metro Areas | 15 | $4,955,000 | $330,333 | $6,400 | 8.39% |
| FLORENCE, SC (FHA|USDA|VA) | 28 | $3,830,000 | $136,786 | $4,280 | 8.06% |
| SPARTANBURG, SC (FHA|USDA|VA) | 32 | $3,490,000 | $109,063 | $3,099 | 7.74% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 9 | $2,895,000 | $321,667 | $6,746 | 7.17% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $2,815,000 | $938,333 | $14,787 | 5.42% |
| Georgetown, SC (FHA|USDA|VA) | 17 | $2,035,000 | $119,706 | $3,417 | 7.34% |
| SUMTER, SC (FHA|USDA|VA) | 4 | $1,430,000 | $357,500 | $8,954 | 7.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $7,247 | 5.54% |
| Union, SC (FHA|USDA|VA) | 4 | $830,000 | $207,500 | $5,136 | 4.14% |
| Gaffney, SC (FHA|USDA|VA) | 4 | $780,000 | $195,000 | $5,285 | 7.41% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $10,449 | 5.50% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 4 | $560,000 | $140,000 | $4,828 | 8.97% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $7,179 | 5.50% |
| Orangeburg, SC (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $3,354 | 5.35% |
| Brevard, NC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $8,659 | 5.13% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,884 | 4.06% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $5,355 | 8.13% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $8,618 | 5.88% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,473 | 6.38% |
| Seneca, SC (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $2,067 | 9.21% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,931 | 4.56% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $1,876 | 10.50% |
| Boone, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,983 | 7.13% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,000 | 6.88% |
| Newberry, SC (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 11.00% |
| Marion, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,307 | 8.38% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,517 | 7.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against SOUTH CAROLINA FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 50
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Similarity Rank: 390
Similarity Rank: 441
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 841 | $231,515,000 | $275,285 | $4,892 | 7.22% |
| HELOC | 262 | $25,200,000 | $96,183 | n/a | 9.09% |
For 2024, South Carolina Federal Credit Union's most frequently originated type of loan was Conventional, with 841 originations. Their 2nd most popular type was HELOC, with 262 originations.
Loan Reason
For 2024, South Carolina Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 555 originations. The 2nd most popular reason was Home Purchase, with 288 originations.
Loan Duration/Length
For 2024, South Carolina Federal Credit Union's most frequently cited loan duration was 20 Year, with 688 originations. The 2nd most popular length was 30 Year, with 382 originations.
Origination Fees/Closing Costs
South Carolina Federal Credit Union's average total fees were $8,683, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 439 originations.
Interest Rates
During 2024, South Carolina Federal Credit Union's average interest rate for loans was 6.05%, while their most frequently originated rate bucket for loans was Over 8%, with 486 originations.
Loan Sizing
2024 saw South Carolina Federal Credit Union place emphasis on $100,000 or less loans with 457 originations, totaling $25,695,000 in origination value.
Applicant Income
South Carolina Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 282 originations. The second most popular income band? $150k-250k, with 237 originations.
Applicant Debt to Income Ratio
South Carolina Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 201 originations. The next most common DTI ratio? 20-30%, with 185 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.98%
South Carolina Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination56.66%
South Carolina Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,103 | $256,715,000 | $232,743 |