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
  • 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 Home Purchase and Other loans. South Carolina Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Charleston, Columbia, Georgetown, Hilton Head Island, and Charlotte among others. We have data for 22 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.

    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% 11/22/24
    30 Year Conventional Refi 6.23% 11/22/24
    30 Year Cash-out Refi 6.26% 11/22/24
    15 Year Conventional Purchase 5.88% 11/22/24
    15 Year Conventional Refi 6.19% 11/22/24
    15 Year Cash-out Refi 6.19% 11/22/24
    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

    1,538

    Origination Dollar Volume (All Markets)

    $304,780,000

    Awards

    SOUTH CAROLINA FEDERAL CREDIT UNION 30 Year Conventional Loans gold SOUTH CAROLINA FEDERAL CREDIT UNION 30 Year Conventional Loans silver SOUTH CAROLINA FEDERAL CREDIT UNION 30 Year Conventional Loans silver SOUTH CAROLINA FEDERAL CREDIT UNION 30 Year Conventional Loans silver
    Show all (4) 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) 1,269 $259,675,000 $204,630 $3,912 4.06%
    COLUMBIA, SC (FHA|USDA|VA) 115 $17,485,000 $152,043 $3,620 4.16%
    Georgetown, SC (FHA|USDA|VA) 41 $5,985,000 $145,976 $3,883 3.99%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 12 $4,470,000 $372,500 $7,287 4.27%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 9 $2,815,000 $312,778 $6,460 3.78%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 10 $2,180,000 $218,000 $5,459 4.09%
    Outside of Metro Areas 13 $2,125,000 $163,462 $4,469 3.76%
    FLORENCE, SC (FHA|USDA|VA) 14 $2,060,000 $147,143 $4,192 4.38%
    SPARTANBURG, SC (FHA|USDA|VA) 16 $1,780,000 $111,250 $3,164 3.74%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 9 $1,515,000 $168,333 $4,577 3.97%
    Orangeburg, SC (FHA|USDA|VA) 10 $1,210,000 $121,000 $3,110 4.35%
    Seneca, SC (FHA|USDA|VA) 2 $610,000 $305,000 $6,676 3.63%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 4 $570,000 $142,500 $3,409 4.38%
    SUMTER, SC (FHA|USDA|VA) 4 $470,000 $117,500 $3,139 4.81%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $430,000 $215,000 $4,972 4.06%
    Newberry, SC (FHA|USDA|VA) 2 $420,000 $210,000 $5,319 3.56%
    Gaffney, SC (FHA|USDA|VA) 1 $255,000 $255,000 $5,720 3.75%
    DALTON, GA (FHA|USDA|VA) 1 $205,000 $205,000 $4,822 3.75%
    Boone, NC (FHA|USDA|VA) 1 $205,000 $205,000 $3,060 1.88%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $165,000 $165,000 $4,318 5.38%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $105,000 $105,000 $3,160 4.25%
    Elizabeth City, NC (FHA|USDA|VA) 1 $45,000 $45,000 $3,277 3.50%
    South Carolina Federal Credit Union's top markets include Charleston, Columbia, Georgetown, Hilton Head Island, and Charlotte 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.

    Barley Mortgage, LLC
    Similarity Rank: 48
    CAROLINA TRUST FEDERAL CREDIT UNION
    Similarity Rank: 265
    CoastalStates Mortgage
    Similarity Rank: 291
    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 402
    CORNING
    Similarity Rank: 606
    Belmont Savings Bank, SSB
    Similarity Rank: 897
    REV FEDERAL CREDIT UNION
    Similarity Rank: 928
    North State Bank
    Similarity Rank: 952
    Palmetto Citizens Federal Credit Union
    Similarity Rank: 1008
    BLMC, INC
    Similarity Rank: 1266

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,538 $304,780,000 $198,166 $3,943 4.06%

    For 2019, South Carolina Federal Credit Union's most frequently originated type of loan was Conventional, with 1,538 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 569 $144,005,000 $253,084 $5,325 3.99%
    Other 549 $77,925,000 $141,940 $2,513 4.47%
    Cash Out Refi 193 $42,425,000 $219,819 $4,345 3.50%
    Refi 135 $31,495,000 $233,296 $4,430 3.33%
    Home Improvement 92 $8,930,000 $97,065 $2,376 4.29%

    For 2019, South Carolina Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 569 originations. The 2nd most popular reason was Other, with 549 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 929 $240,025,000 $258,369 $4,994 3.79%
    20 Year 352 $26,340,000 $74,830 $1,270 5.20%
    15 Year 193 $32,535,000 $168,575 $4,148 3.39%
    10 Year 61 $4,635,000 $75,984 $2,578 3.73%
    5 Year 2 $70,000 $35,000 $1,035 4.88%
    30+ year 1 $1,175,000 $1,175,000 $18,200 5.75%

    For 2019, South Carolina Federal Credit Union's most frequently cited loan duration was 30 Year, with 929 originations. The 2nd most popular length was 20 Year, with 352 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 527 $67,435,000 $127,960
    $2k-3k 342 $58,480,000 $170,994
    $1k-2k 221 $19,285,000 $87,262
    $3k-4k 212 $54,080,000 $255,094
    $5k+ 129 $70,365,000 $545,465
    $4k-5k 107 $35,135,000 $328,364

    South Carolina Federal Credit Union's average total fees were $4,994, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 527 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 613 $142,545,000 $232,537
    4-5% 459 $81,085,000 $176,656
    2.5-3% 170 $39,770,000 $233,941
    5-6% 126 $15,990,000 $126,905
    <2.5% 79 $20,105,000 $254,494
    6-7% 75 $4,285,000 $57,133
    7-8% 13 $865,000 $66,538
    Over 8% 3 $135,000 $45,000

    During 2019, South Carolina Federal Credit Union's average interest rate for loans was 3.79%, while their most frequently originated rate bucket for loans was 3-4%, with 613 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 484 $132,730,000 $274,236 $5,113 3.69%
    $100k-200k 475 $71,825,000 $151,211 $3,742 3.83%
    $100,000 or less 453 $24,895,000 $54,956 $1,555 4.81%
    $400k-600k 92 $45,350,000 $492,935 $7,633 3.66%
    $600k-1MM 26 $19,380,000 $745,385 $10,557 3.76%
    $1MM+ 8 $10,600,000 $1,325,000 $16,362 3.95%

    2019 saw South Carolina Federal Credit Union place emphasis on $200k-400k loans with 484 originations, totaling $132,730,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 379 $57,865,000 $152,678 $3,632 4.09%
    $100k-150k 350 $72,340,000 $206,686 $3,753 4.08%
    $75k-100k 320 $57,850,000 $180,781 $3,770 4.07%
    $50k or less 250 $28,340,000 $113,360 $3,276 4.01%
    $150k-250k 180 $56,380,000 $313,222 $5,083 4.01%
    $250k+ 59 $32,005,000 $542,458 $7,358 4.16%

    South Carolina Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 379 originations. The second most popular income band? $100k-150k, with 350 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 377 $74,185,000 $196,777 $4,112 3.86%
    30-36% 250 $48,790,000 $195,160 $3,771 4.23%
    <20% 184 $39,260,000 $213,370 $3,921 3.43%
    41% 72 $19,490,000 $270,694 $4,580 4.15%
    43% 72 $13,500,000 $187,500 $3,794 4.26%
    42% 70 $11,850,000 $169,286 $3,529 4.32%
    44% 64 $13,350,000 $208,594 $3,866 4.26%
    38% 58 $11,050,000 $190,517 $3,722 4.11%
    39% 56 $11,020,000 $196,786 $4,039 4.29%
    40% 49 $9,485,000 $193,571 $3,561 4.15%
    36% 47 $7,605,000 $161,809 $3,476 4.32%
    37% 46 $8,660,000 $188,261 $4,379 4.35%
    46% 43 $9,135,000 $212,442 $4,228 4.29%
    45% 40 $6,590,000 $164,750 $3,459 4.37%
    47% 34 $6,580,000 $193,529 $4,250 4.40%
    49% 26 $5,690,000 $218,846 $4,680 4.06%
    48% 19 $3,385,000 $178,158 $3,793 4.28%
    50-60% 19 $3,495,000 $183,947 $3,955 4.44%
    >60% 11 $1,605,000 $145,909 $3,370 4.76%

    South Carolina Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 377 originations. The next most common DTI ratio? 30-36%, with 250 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,193 $244,555,000 $204,992 $3,996 4.05%
    Black 183 $29,055,000 $158,770 $3,447 4.08%
    Not provided 128 $24,240,000 $189,375 $4,051 4.19%
    Asian 22 $4,660,000 $211,818 $4,392 3.84%
    American Indian 5 $735,000 $147,000 $3,064 4.50%
    Asian Indian 2 $720,000 $360,000 $9,423 3.38%
    Filipino 2 $470,000 $235,000 $5,283 3.88%
    Other Asian 2 $290,000 $145,000 $2,866 5.56%
    Native Hawaiian or Islander 1 $55,000 $55,000 $575 4.50%

    Approval Rates

    Total approvals of all applications
    96.92%

    South Carolina Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    67.10%

    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 1,538 $304,780,000 $198,166

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 27 $2,645,000 $97,963
    Single Family (1-4 Units):Site-Built 1,511 $302,135,000 $199,957

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 192 $16,380,000 $85,313 $1,787 4.66%
    40-60% 164 $29,430,000 $179,451 $4,147 3.61%
    60-80% 445 $108,105,000 $242,933 $4,871 3.72%
    80-100% 517 $140,345,000 $271,460 $5,188 3.76%
    Under 20% 220 $10,520,000 $47,818 $868 5.27%