South Carolina Federal Credit Union Mortgage Rates, Fees & Info

North Charleston, SC

LEI: 549300WC12JROIUVWY16

Tax ID: 57-0323645

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    South Carolina Federal Credit Union is a smaller credit union specializing in Other 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, Greenville, and Georgetown among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

    South Carolina 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. 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.18% 4/18/24
    30 Year Conventional Refi 6.23% 4/18/24
    30 Year Cash-out Refi 6.26% 4/18/24
    15 Year Conventional Purchase 5.88% 4/18/24
    15 Year Conventional Refi 6.19% 4/18/24
    15 Year Cash-out Refi 6.19% 4/18/24
    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.

    South Carolina 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 South Carolina 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

    1,235

    Origination Dollar Volume (All Markets)

    $249,975,000
    Show all (5) awards

    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) 1,038 $215,010,000 $207,139 $4,179 4.33%
    COLUMBIA, SC (FHA|USDA|VA) 75 $11,915,000 $158,867 $3,710 4.41%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 15 $4,465,000 $297,667 $5,736 3.41%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 11 $3,175,000 $288,636 $6,002 3.36%
    Georgetown, SC (FHA|USDA|VA) 23 $3,015,000 $131,087 $3,762 4.52%
    SPARTANBURG, SC (FHA|USDA|VA) 9 $2,615,000 $290,556 $5,682 4.03%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 9 $1,865,000 $207,222 $4,732 3.92%
    Outside of Metro Areas 9 $1,605,000 $178,333 $4,272 4.29%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 7 $1,455,000 $207,857 $4,462 4.75%
    Orangeburg, SC (FHA|USDA|VA) 13 $1,105,000 $85,000 $3,011 4.70%
    FLORENCE, SC (FHA|USDA|VA) 7 $945,000 $135,000 $3,737 4.95%
    Seneca, SC (FHA|USDA|VA) 3 $835,000 $278,333 $5,420 3.46%
    Newberry, SC (FHA|USDA|VA) 4 $600,000 $150,000 $3,724 4.91%
    SUMTER, SC (FHA|USDA|VA) 5 $425,000 $85,000 $2,799 4.50%
    Forest City, NC (FHA|USDA|VA) 1 $275,000 $275,000 $6,573 4.00%
    SAVANNAH, GA (FHA|USDA|VA) 1 $165,000 $165,000 $4,488 3.00%
    Greenwood, SC (FHA|USDA|VA) 1 $135,000 $135,000 $3,692 2.88%
    Laurinburg, NC (FHA|USDA|VA) 1 $115,000 $115,000 $3,765 2.75%
    ALBANY, GA (FHA|USDA|VA) 1 $85,000 $85,000 $3,408 4.00%
    VALDOSTA, GA (FHA|USDA|VA) 1 $85,000 $85,000 $3,523 4.50%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $85,000 $85,000 $3,121 4.13%
    South Carolina Federal Credit Union's top markets include Charleston, Columbia, Charlotte, Greenville, and Georgetown among others.

    Their top states include:
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • 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.

    The Citizens Bank
    Similarity Rank: 44
    Whitley Mortgage Associates, Inc.
    Similarity Rank: 258
    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 285
    Belmont Savings Bank, SSB
    Similarity Rank: 390
    REV FEDERAL CREDIT UNION
    Similarity Rank: 472
    Palmetto Citizens Federal Credit Union
    Similarity Rank: 480
    NewDominion Bank
    Similarity Rank: 602
    BLMC, INC
    Similarity Rank: 755
    Coastal Carolina National Bank
    Similarity Rank: 756
    Entegra Bank
    Similarity Rank: 1036

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,232 $249,380,000 $202,419 $4,181 4.32%
    VA 3 $595,000 $198,333 $1,997 4.54%

    For 2018, South Carolina Federal Credit Union's most frequently originated type of loan was Conventional, with 1,232 originations. Their 2nd most popular type was VA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 593 $79,715,000 $134,427 $2,677 4.90%
    Home Purchase 554 $152,920,000 $276,029 $5,741 3.76%
    Cash Out Refi 49 $10,625,000 $216,837 $4,796 3.86%
    Home Improvement 25 $2,845,000 $113,800 $3,040 4.52%
    Refi 14 $3,870,000 $276,429 $5,581 3.21%

    For 2018, South Carolina Federal Credit Union's most frequently cited loan purpose was Other, with 593 originations. The 2nd most popular reason was Home Purchase, with 554 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 768 $213,370,000 $277,826 $5,647 3.68%
    20 Year 327 $20,645,000 $63,135 $1,090 5.86%
    15 Year 103 $12,685,000 $123,155 $3,622 4.17%
    10 Year 31 $1,885,000 $60,806 $2,049 4.46%
    5 Year 3 $75,000 $25,000 $1,023 4.75%
    Other 2 $480,000 $240,000 $5,747 3.00%
    30+ year 1 $835,000 $835,000 $12,756 3.00%

    For 2018, South Carolina Federal Credit Union's most frequently cited loan duration was 30 Year, with 768 originations. The 2nd most popular length was 20 Year, with 327 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 346 $24,550,000 $70,954
    $2k-3k 290 $50,050,000 $172,586
    $1k-2k 199 $17,395,000 $87,412
    $3k-4k 175 $45,085,000 $257,629
    $5k+ 139 $82,965,000 $596,871
    $4k-5k 86 $29,930,000 $348,023

    South Carolina Federal Credit Union's average total fees were $5,647, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 346 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 488 $80,270,000 $164,488
    2.5-3% 238 $87,230,000 $366,513
    3-4% 130 $29,480,000 $226,769
    <2.5% 118 $32,780,000 $277,797
    6-7% 111 $6,725,000 $60,586
    5-6% 107 $11,275,000 $105,374
    7-8% 39 $1,985,000 $50,897
    Over 8% 4 $230,000 $57,500

    During 2018, South Carolina Federal Credit Union's average interest rate for loans was 3.68%, while their most frequently originated rate bucket for loans was 4-5%, with 488 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 436 $23,890,000 $54,794 $1,505 5.35%
    $100k-200k 327 $48,355,000 $147,875 $3,938 4.13%
    $200k-400k 324 $88,070,000 $271,821 $5,530 3.64%
    $400k-600k 94 $45,480,000 $483,830 $8,262 3.23%
    $600k-1MM 47 $35,455,000 $754,362 $11,165 3.17%
    $1MM+ 7 $8,725,000 $1,246,429 $17,088 3.05%

    2018 saw South Carolina Federal Credit Union place emphasis on $100,000 or less loans with 436 originations, totaling $23,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 290 $42,610,000 $146,931 $3,609 4.34%
    $100k-150k 259 $61,015,000 $235,579 $4,503 4.30%
    $75k-100k 245 $42,535,000 $173,612 $3,827 4.44%
    $50k or less 238 $26,300,000 $110,504 $3,259 4.41%
    $150k-250k 145 $48,405,000 $333,828 $5,572 4.07%
    $250k+ 56 $28,980,000 $517,500 $7,522 3.98%

    South Carolina Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 290 originations. The second most popular income band? $100k-150k, with 259 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 273 $54,675,000 $200,275 $4,257 4.11%
    30-36% 219 $41,765,000 $190,708 $4,075 4.33%
    <20% 107 $19,225,000 $179,673 $4,181 4.00%
    40% 62 $12,250,000 $197,581 $3,859 4.53%
    39% 61 $12,465,000 $204,344 $3,972 4.38%
    42% 60 $12,920,000 $215,333 $4,140 4.39%
    41% 60 $10,560,000 $176,000 $3,579 4.59%
    43% 60 $12,010,000 $200,167 $4,199 4.47%
    44% 56 $9,650,000 $172,321 $3,466 4.78%
    38% 47 $8,275,000 $176,064 $3,823 4.49%
    37% 42 $11,130,000 $265,000 $4,712 4.28%
    45% 35 $7,475,000 $213,571 $4,009 4.40%
    46% 34 $8,780,000 $258,235 $5,178 4.72%
    36% 31 $6,835,000 $220,484 $4,587 4.44%
    47% 25 $5,735,000 $229,400 $4,968 4.12%
    48% 20 $5,920,000 $296,000 $5,730 4.18%
    49% 15 $3,655,000 $243,667 $4,578 4.58%
    50-60% 13 $2,725,000 $209,615 $4,004 4.11%
    >60% 9 $3,365,000 $373,889 $6,295 3.75%

    South Carolina Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 273 originations. The next most common DTI ratio? 30-36%, with 219 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 925 $187,335,000 $202,524 $4,157 4.34%
    Not provided 158 $34,940,000 $221,139 $4,467 4.23%
    Black 96 $13,620,000 $141,875 $3,553 4.63%
    Asian 32 $9,360,000 $292,500 $5,340 3.61%
    Asian Indian 5 $1,365,000 $273,000 $4,367 3.45%
    American Indian 6 $1,320,000 $220,000 $4,639 4.13%
    Native Hawaiian or Islander 2 $800,000 $400,000 $6,672 2.75%
    Filipino 5 $625,000 $125,000 $3,435 4.00%
    Other Asian 2 $280,000 $140,000 $2,471 4.50%
    Other Pacific Islander 3 $235,000 $78,333 $1,987 4.71%
    Vietnamese 1 $95,000 $95,000 $3,097 2.50%

    Approval Rates

    Total approvals of all applications
    87.92%

    South Carolina Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.28%

    South Carolina Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,235 $249,975,000 $202,409

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 20 $1,770,000 $88,500
    Single Family (1-4 Units):Site-Built 1,215 $248,205,000 $204,284

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 166 $13,010,000 $78,373 $1,649 5.26%
    40-60% 112 $23,050,000 $205,804 $4,606 3.99%
    60-80% 313 $82,865,000 $264,744 $5,493 3.77%
    80-100% 416 $119,720,000 $287,788 $5,850 3.69%
    Under 20% 224 $10,920,000 $48,750 $930 5.73%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    South Carolina State Housing Finance and Development Authority Conventional home mortgage Struggling to pay mortgage 2 100.0%