Family Security Credit Union Mortgage Rates, Fees & Info
Decatur, ALLEI: 254900R7YE9RG1CL6U13
Tax ID: 63-0757453
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Mortgage Data
Review & Overview
Family Security Credit Union is a smaller credit union specializing in Home Purchase, Other, and Home Improvement loans. Family Security Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Decatur, Huntsville, Cullman, Albertville, and Mobile among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Family Security Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Family Security 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 11/21/24 |
| 30 Year Conventional Refi | 6.27% | 11/21/24 |
| 30 Year Cash-out Refi | 6.27% | 11/21/24 |
| 30 Year USDA Purchase | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | -38.37% | 11/21/24 |
| 15 Year Conventional Refi | 5.34% | 11/21/24 |
| 15 Year Cash-out Refi | 5.34% | 11/21/24 |
| 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. | ||
Family Security Credit Union Mortgage Calculator
Your Estimates
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This is not an official calculator from Family Security 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
92Origination Dollar Volume (All Markets)
$8,860,000Relative Rate
Family Security Credit Union's average 30 year fixed mortgage rate was
5.5%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.98%.
Relative Fees (Closing Costs)
Family Security Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,408.
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 $9,089.
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 |
|---|---|---|---|---|---|
| DECATUR, AL (FHA|USDA|VA) | 32 | $2,580,000 | $80,625 | $2,279 | 6.63% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 19 | $1,895,000 | $99,737 | $2,453 | 6.32% |
| Cullman, AL (FHA|USDA|VA) | 4 | $900,000 | $225,000 | $3,263 | 5.69% |
| Outside of Metro Areas | 8 | $780,000 | $97,500 | $2,470 | 6.28% |
| Albertville, AL (FHA|USDA|VA) | 6 | $550,000 | $91,667 | $2,652 | 5.83% |
| MOBILE, AL (FHA|USDA|VA) | 6 | $450,000 | $75,000 | $2,487 | 7.32% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $2,183 | 6.25% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,189 | 5.75% |
| GADSDEN, AL (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $2,511 | 5.48% |
| Scottsboro, AL (FHA|USDA|VA) | 3 | $165,000 | $55,000 | $2,433 | 5.78% |
| Fort Payne, AL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,172 | 5.75% |
| Picayune, MS (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,576 | 6.49% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $2,453 | 6.25% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 3 | $95,000 | $31,667 | $1,567 | 7.06% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 92 | $8,860,000 | $96,304 | $2,458 | 6.40% |
For 2023, Family Security Credit Union's most frequently originated type of loan was Conventional, with 92 originations.
Loan Reason
For 2023, Family Security Credit Union's most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Other, with 24 originations.
Loan Duration/Length
For 2023, Family Security Credit Union's most frequently cited loan duration was 15 Year, with 71 originations. The 2nd most popular length was 10 Year, with 12 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 45 | $2,625,000 | $58,333 |
| $1k-2k | 36 | $5,840,000 | $162,222 |
Family Security Credit Union's average total fees were $3,408, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 45 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 50 | $6,390,000 | $127,800 |
| 6-7% | 25 | $1,725,000 | $69,000 |
| 7-8% | 9 | $495,000 | $55,000 |
| Over 8% | 7 | $195,000 | $27,857 |
| 4-5% | 1 | $55,000 | $55,000 |
During 2023, Family Security Credit Union's average interest rate for loans was 5.50%, while their most frequently originated rate bucket for loans was 5-6%, with 50 originations.
Loan Sizing
2023 saw Family Security Credit Union place emphasis on $100,000 or less loans with 55 originations, totaling $2,875,000 in origination value.
Applicant Income
Family Security Credit Union lent most frequently to those with incomes in the $50k-75k range, with 30 originations. The second most popular income band? $50k or less, with 23 originations.
Applicant Debt to Income Ratio
Family Security Credit Union lent most frequently to those with DTI ratios of 20-30%, with 36 originations. The next most common DTI ratio? <20%, with 16 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications65.00%
Family Security Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination89.13%
Family Security Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 92 | $8,860,000 | $96,304 |