Family Security Credit Union Mortgage Rates, Fees & Info

Decatur, AL

LEI: 254900R7YE9RG1CL6U13

Tax ID: 63-0757453

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
  • 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

    Family Security Credit Union is a smaller credit union specializing in Refi, Home Purchase, and Cash Out Refi loans. Family Security Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Decatur, Huntsville, Albertville, Cullman, and Birmingham among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Family Security Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

    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

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

    This is not an official calculator from Family Security 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

    144

    Origination Dollar Volume (All Markets)

    $16,260,000

    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) 48 $4,660,000 $97,083 $2,585 3.76%
    HUNTSVILLE, AL (FHA|USDA|VA) 25 $3,475,000 $139,000 $2,943 3.79%
    Albertville, AL (FHA|USDA|VA) 19 $2,355,000 $123,947 $2,783 3.05%
    Outside of Metro Areas 12 $1,490,000 $124,167 $2,819 3.76%
    Cullman, AL (FHA|USDA|VA) 13 $1,145,000 $88,077 $2,687 3.24%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 6 $870,000 $145,000 $2,710 2.78%
    MOBILE, AL (FHA|USDA|VA) 8 $790,000 $98,750 $2,655 3.15%
    Scottsboro, AL (FHA|USDA|VA) 3 $405,000 $135,000 $3,314 3.05%
    Fort Payne, AL (FHA|USDA|VA) 2 $270,000 $135,000 $3,457 3.50%
    MONTGOMERY, AL (FHA|USDA|VA) 1 $245,000 $245,000 $3,617 2.50%
    GADSDEN, AL (FHA|USDA|VA) 2 $170,000 $85,000 $2,899 2.50%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $135,000 $135,000 $3,327 3.69%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $125,000 $125,000 $3,002 3.49%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 2 $90,000 $45,000 $1,495 3.75%
    FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $35,000 $35,000 $2,276 5.85%
    Family Security Credit Union's top markets include Decatur, Huntsville, Albertville, Cullman, and Birmingham among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 144 $16,260,000 $112,917 $2,742 3.52%

    For 2022, Family Security Credit Union's most frequently originated type of loan was Conventional, with 144 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 55 $5,585,000 $101,545 $2,698 2.93%
    Home Purchase 34 $4,630,000 $136,176 $2,908 3.95%
    Cash Out Refi 33 $3,915,000 $118,636 $2,790 3.22%
    Home Improvement 18 $1,990,000 $110,556 $2,725 4.62%
    Other 4 $140,000 $35,000 $1,218 5.38%

    For 2022, Family Security Credit Union's most frequently cited loan purpose was Refi, with 55 originations. The 2nd most popular reason was Home Purchase, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 123 $14,925,000 $121,341 $2,842 3.49%
    Other 11 $865,000 $78,636 $2,428 3.35%
    10 Year 10 $470,000 $47,000 $1,747 4.03%

    For 2022, Family Security Credit Union's most frequently cited loan duration was 15 Year, with 123 originations. The 2nd most popular length was Other, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 68 $10,640,000 $156,471
    $<1k 67 $4,375,000 $65,299
    $2k-3k 4 $1,090,000 $272,500

    Family Security Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 68 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 53 $5,365,000 $101,226
    3-4% 35 $4,385,000 $125,286
    4-5% 31 $3,895,000 $125,645
    5-6% 13 $1,595,000 $122,692
    2.5-3% 10 $960,000 $96,000
    7-8% 2 $60,000 $30,000

    During 2022, Family Security Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was <2.5%, with 53 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 74 $4,630,000 $62,568 $2,357 3.51%
    $100k-200k 57 $7,865,000 $137,982 $3,035 3.40%
    $200k-400k 13 $3,765,000 $289,615 $3,616 4.11%

    2022 saw Family Security Credit Union place emphasis on $100,000 or less loans with 74 originations, totaling $4,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 39 $3,105,000 $79,615 $2,444 3.60%
    $50k-75k 38 $4,120,000 $108,421 $2,777 3.50%
    $75k-100k 29 $3,715,000 $128,103 $2,845 3.47%
    $100k-150k 27 $3,785,000 $140,185 $2,904 3.54%
    $150k-250k 8 $1,020,000 $127,500 $2,787 3.28%
    $250k+ 3 $515,000 $171,667 $3,482 3.55%

    Family Security Credit Union lent most frequently to those with incomes in the $50k or less range, with 39 originations. The second most popular income band? $50k-75k, with 38 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 42 $4,640,000 $110,476 $2,812 3.44%
    <20% 29 $2,895,000 $99,828 $2,653 3.21%
    30-36% 27 $3,175,000 $117,593 $2,836 3.55%
    41% 7 $875,000 $125,000 $2,783 3.51%
    40% 7 $455,000 $65,000 $2,472 3.54%
    38% 6 $720,000 $120,000 $2,773 3.40%
    36% 6 $1,270,000 $211,667 $2,934 3.94%
    43% 6 $750,000 $125,000 $2,487 4.41%
    39% 5 $385,000 $77,000 $2,287 3.89%
    >60% 4 $550,000 $137,500 $2,777 4.21%
    37% 3 $305,000 $101,667 $2,873 3.23%
    42% 2 $240,000 $120,000 $2,906 3.75%

    Family Security Credit Union lent most frequently to those with DTI ratios of 20-30%, with 42 originations. The next most common DTI ratio? <20%, with 29 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 114 $12,740,000 $111,754 $2,706 3.53%
    Not provided 25 $3,015,000 $120,600 $2,891 3.48%
    Black 3 $335,000 $111,667 $2,859 3.95%
    Native Hawaiian or Islander 1 $105,000 $105,000 $2,824 2.45%
    American Indian 1 $65,000 $65,000 $2,643 2.70%

    Approval Rates

    Total approvals of all applications
    78.00%

    Family Security Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    93.75%

    Family Security Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 144 $16,260,000 $112,917

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    144 $16,260,000 $112,917

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 39 $3,005,000 $77,051 $2,499 3.25%
    40-60% 45 $4,635,000 $103,000 $2,727 3.49%
    60-80% 39 $6,175,000 $158,333 $3,030 3.59%
    80-100% 12 $2,050,000 $170,833 $3,231 3.78%
    Under 20% 9 $395,000 $43,889 $1,870 4.18%