Safe 1 Credit Union Mortgage Rates, Fees & Info

Bakersfield, CA

LEI: 549300YHKDUKPJGRPK46

Tax ID: 95-1812302

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

    Safe 1 Credit Union is a smaller credit union specializing in Cash Out Refi loans. Safe 1 Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bakersfield, Visalia, and Fresno among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Safe 1 Credit Union has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Safe 1 Credit Union is typically a low 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
    30 Year Conventional Purchase 6.27% 4/28/24
    30 Year Conventional Refi 6.27% 4/28/24
    30 Year Cash-out Refi 6.27% 4/28/24
    15 Year Conventional Purchase 5.68% 4/28/24
    15 Year Conventional Refi 5.68% 4/28/24
    15 Year Cash-out Refi 5.68% 4/28/24
    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.

    Safe 1 Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Safe 1 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

    198

    Origination Dollar Volume (All Markets)

    $17,030,000

    Awards

    SAFE 1 CREDIT UNION 30 Year Conventional Loans bronze
    Show all (1) 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
    BAKERSFIELD, CA (FHA|USDA|VA) 165 $13,865,000 $84,030 $3,901 5.03%
    VISALIA, CA (FHA|USDA|VA) 30 $3,060,000 $102,000 $3,312 4.95%
    FRESNO, CA (FHA|USDA|VA) 3 $105,000 $35,000 $0 5.25%
    Safe 1 Credit Union's top markets include Bakersfield, Visalia, and Fresno among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SAFE 1 CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Educational Employees Credit Union
    Similarity Rank: 51
    SAFE 1 CREDIT UNION
    Similarity Rank: 174
    CAMPOS FINANCIAL CORP.
    Similarity Rank: 380
    VALLEY STRONG CREDIT UNION
    Similarity Rank: 576
    SCHOOLSFIRST
    Similarity Rank: 700
    CUSTOMER SERVICE MORTGAGE CORPORATION
    Similarity Rank: 910
    Mechanics Bank
    Similarity Rank: 1122
    KINGS MORTGAGE SERVICES, INC.
    Similarity Rank: 1300
    LOGIX FEDERAL CREDIT UNION
    Similarity Rank: 1564
    CHEVRON
    Similarity Rank: 1885

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 198 $17,030,000 $86,010 $3,751 5.02%

    For 2019, Safe 1 Credit Union's most frequently originated type of loan was Conventional, with 198 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 179 $13,725,000 $76,676 $3,640 5.12%
    Home Purchase 10 $2,180,000 $218,000 $4,692 4.23%
    Refi 9 $1,125,000 $125,000 $3,350 3.89%

    For 2019, Safe 1 Credit Union's most frequently cited loan purpose was Cash Out Refi, with 179 originations. The 2nd most popular reason was Home Purchase, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 91 $2,915,000 $32,033 $483 4.94%
    20 Year 44 $3,080,000 $70,000 $3,469 6.25%
    30 Year 39 $7,975,000 $204,487 $4,287 4.24%
    15 Year 16 $2,430,000 $151,875 $3,402 3.88%
    10 Year 8 $630,000 $78,750 $2,995 5.25%

    For 2019, Safe 1 Credit Union's most frequently cited loan duration was Other, with 91 originations. The 2nd most popular length was 20 Year, with 44 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 29 $3,235,000 $111,552
    $2k-3k 23 $4,365,000 $189,783
    $3k-4k 11 $3,235,000 $294,091
    $4k-5k 4 $1,530,000 $382,500

    Safe 1 Credit Union's average total fees were $4,287, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 29 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 83 $5,085,000 $61,265
    3-4% 46 $8,580,000 $186,522
    6-7% 34 $1,630,000 $47,941
    5-6% 25 $1,275,000 $51,000
    7-8% 5 $285,000 $57,000
    Over 8% 5 $175,000 $35,000

    During 2019, Safe 1 Credit Union's average interest rate for loans was 4.24%, while their most frequently originated rate bucket for loans was 4-5%, with 83 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 138 $5,110,000 $37,029 $1,981 5.41%
    $100k-200k 37 $5,415,000 $146,351 $3,477 4.10%
    $200k-400k 22 $6,100,000 $277,273 $5,126 4.15%
    $400k-600k 1 $405,000 $405,000 $6,128 4.50%

    2019 saw Safe 1 Credit Union place emphasis on $100,000 or less loans with 138 originations, totaling $5,110,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 46 $4,380,000 $95,217 $4,082 5.06%
    $50k-75k 43 $3,935,000 $91,512 $3,785 5.08%
    $150k-250k 40 $3,730,000 $93,250 $4,136 4.93%
    $75k-100k 40 $2,800,000 $70,000 $3,591 5.09%
    $50k or less 23 $1,905,000 $82,826 $3,374 4.89%
    $250k+ 6 $280,000 $46,667 $550 5.00%

    Safe 1 Credit Union lent most frequently to those with incomes in the $100k-150k range, with 46 originations. The second most popular income band? $50k-75k, with 43 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 47 $4,555,000 $96,915 $3,751 4.78%
    30-36% 34 $3,260,000 $95,882 $3,976 4.96%
    <20% 30 $1,580,000 $52,667 $3,619 5.07%
    44% 11 $895,000 $81,364 $3,033 4.63%
    36% 10 $580,000 $58,000 $2,789 4.83%
    38% 10 $950,000 $95,000 $2,628 5.10%
    42% 10 $520,000 $52,000 $5,613 5.20%
    41% 8 $1,090,000 $136,250 $4,454 5.17%
    37% 6 $970,000 $161,667 $5,481 5.06%
    40% 6 $420,000 $70,000 $3,439 5.31%
    47% 6 $370,000 $61,667 $4,285 5.71%
    50-60% 4 $390,000 $97,500 $4,694 5.50%
    43% 4 $460,000 $115,000 $6,404 6.06%
    45% 4 $440,000 $110,000 $3,916 5.56%
    46% 3 $65,000 $21,667 $0 5.83%
    39% 3 $335,000 $111,667 $3,601 4.25%
    48% 2 $150,000 $75,000 $3,293 5.00%

    Safe 1 Credit Union lent most frequently to those with DTI ratios of 20-30%, with 47 originations. The next most common DTI ratio? 30-36%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 136 $13,400,000 $98,529 $3,878 4.99%
    Not provided 45 $2,425,000 $53,889 $2,815 5.02%
    Asian 10 $1,000,000 $100,000 $4,292 4.56%
    Black 6 $170,000 $28,333 $0 6.63%
    American Indian 1 $35,000 $35,000 $0 4.75%

    Approval Rates

    Total approvals of all applications
    85.66%

    Safe 1 Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    96.46%

    Safe 1 Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 198 $17,030,000 $86,010

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 198 $17,030,000 $86,010

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $1,675,000 $72,826 $3,037 5.77%
    40-60% 16 $2,000,000 $125,000 $3,209 4.44%
    60-80% 33 $6,865,000 $208,030 $4,213 4.01%
    80-100% 12 $2,890,000 $240,833 $4,682 4.29%
    Under 20% 114 $3,600,000 $31,579 $475 5.32%