Workmen's Circle Credit Union Mortgage Rates, Fees & Info
Savannah, GALEI: 254900TW8OMXXV334D32
Tax ID: 58-6038163
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Mortgage Data
Review & Overview
Workmen's Circle Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Workmen's Circle Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Savannah, Hinesville, and Athens among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Workmen's Circle 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.85% | 11/17/24 |
| 30 Year Conventional Purchase | 6.53% | 11/17/24 |
| 15 Year Conventional Purchase | 5.68% | 11/17/24 |
| 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. | ||
Workmen's Circle Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
95Origination Dollar Volume (All Markets)
$16,255,000Top 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 |
|---|---|---|---|---|---|
| SAVANNAH, GA (FHA|USDA|VA) | 92 | $16,000,000 | $173,913 | $893 | 5.20% |
| HINESVILLE, GA (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 5.13% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 5.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 75 | $12,225,000 | $163,000 | $893 | 5.29% |
| HELOC | 20 | $4,030,000 | $201,500 | n/a | 4.85% |
For 2018, Workmen's Circle Credit Union's most frequently originated type of loan was Conventional, with 75 originations. Their 2nd most popular type was HELOC, with 20 originations.
Loan Reason
For 2018, Workmen's Circle Credit Union's most frequently cited loan purpose was Home Purchase, with 54 originations. The 2nd most popular reason was Refi, with 29 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 94 | $16,150,000 | $171,809 | $893 | 5.20% |
| 1 Year | 1 | $105,000 | $105,000 | $0 | 5.25% |
For 2018, Workmen's Circle Credit Union's most frequently cited loan duration was Other, with 94 originations. The 2nd most popular length was 1 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 11 | $1,275,000 | $115,909 |
Workmen's Circle Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 11 originations.
Interest Rates
During 2018, Workmen's Circle Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 44 originations.
Loan Sizing
2018 saw Workmen's Circle Credit Union place emphasis on $100,000 or less loans with 43 originations, totaling $2,615,000 in origination value.
Applicant Income
Workmen's Circle Credit Union lent most frequently to those with incomes in the $100k-150k range, with 24 originations. The second most popular income band? $250k+, with 19 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| <20% | 79 | $12,305,000 | $155,759 | $893 | 5.27% |
Workmen's Circle Credit Union lent most frequently to those with DTI ratios of <20%, with 79 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.44%
Workmen's Circle 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 origination81.05%
Workmen's Circle Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 95 | $16,255,000 | $171,105 |