Workmen's Circle Credit Union Mortgage Rates, Fees & Info

Savannah, GA

LEI: 254900TW8OMXXV334D32

Tax ID: 58-6038163

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

    Workmen's Circle Credit Union is a smaller credit union specializing in Home Purchase loans. Workmen's Circle Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Savannah, Atlanta, and Hinesville 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. Workmen's Circle 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.85% 11/21/24
    30 Year Conventional Purchase 6.53% 11/21/24
    15 Year Conventional Purchase 5.68% 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.

    Workmen's Circle Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Workmen's Circle 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

    99

    Origination Dollar Volume (All Markets)

    $14,925,000

    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
    SAVANNAH, GA (FHA|USDA|VA) 97 $14,295,000 $147,371 $3,260 5.20%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $505,000 $505,000 $6,750 2.50%
    HINESVILLE, GA (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.75%
    Workmen's Circle Credit Union's top markets include Savannah, Atlanta, and Hinesville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 68 $10,730,000 $157,794 $3,366 5.13%
    HELOC 31 $4,195,000 $135,323 n/a 5.23%

    For 2019, Workmen's Circle Credit Union's most frequently originated type of loan was Conventional, with 68 originations. Their 2nd most popular type was HELOC, with 31 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 64 $10,610,000 $165,781 $3,936 5.15%
    Refi 21 $2,395,000 $114,048 $2,418 5.17%
    Home Improvement 9 $1,345,000 $149,444 $0 5.33%
    Cash Out Refi 3 $405,000 $135,000 $4,868 4.75%
    Other 2 $170,000 $85,000 $0 5.38%

    For 2019, Workmen's Circle Credit Union's most frequently cited loan purpose was Home Purchase, with 64 originations. The 2nd most popular reason was Refi, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 50 $7,850,000 $157,000 $3,517 5.07%
    15 Year 43 $5,565,000 $129,419 $2,816 5.40%
    10 Year 4 $980,000 $245,000 $2,785 4.63%
    30 Year 1 $505,000 $505,000 $6,750 2.50%
    Other 1 $25,000 $25,000 $1,709 4.75%

    For 2019, Workmen's Circle Credit Union's most frequently cited loan duration was 5 Year, with 50 originations. The 2nd most popular length was 15 Year, with 43 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 25 $2,175,000 $87,000
    $1k-2k 6 $1,760,000 $293,333
    $2k-3k 1 $505,000 $505,000

    Workmen's Circle Credit Union's average total fees were $6,750, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 25 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 53 $8,725,000 $164,623
    4-5% 34 $4,900,000 $144,118
    3-4% 6 $430,000 $71,667
    6-7% 5 $365,000 $73,000
    <2.5% 1 $505,000 $505,000

    During 2019, Workmen's Circle Credit Union's average interest rate for loans was 2.50%, while their most frequently originated rate bucket for loans was 5-6%, with 53 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 47 $2,635,000 $56,064 $2,454 5.20%
    $100k-200k 26 $3,570,000 $137,308 $4,410 5.26%
    $200k-400k 22 $6,320,000 $287,273 $4,212 5.08%
    $400k-600k 2 $970,000 $485,000 $6,750 3.88%
    $600k-1MM 2 $1,430,000 $715,000 $0 5.25%

    2019 saw Workmen's Circle Credit Union place emphasis on $100,000 or less loans with 47 originations, totaling $2,635,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 28 $5,500,000 $196,429 $3,591 5.23%
    $100k-150k 25 $3,155,000 $126,200 $2,998 5.02%
    $150k-250k 13 $2,185,000 $168,077 $2,102 5.21%
    $50k or less 9 $995,000 $110,556 $0 5.19%
    $50k-75k 8 $640,000 $80,000 $2,033 5.13%
    $75k-100k 8 $1,160,000 $145,000 $0 5.31%

    Workmen's Circle Credit Union lent most frequently to those with incomes in the $250k+ range, with 28 originations. The second most popular income band? $100k-150k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    >60% 15 $1,405,000 $93,667 $2,339 5.18%
    30-36% 14 $1,680,000 $120,000 $4,868 5.07%
    <20% 13 $1,435,000 $110,385 $2,637 5.19%
    50-60% 12 $2,130,000 $177,500 $4,720 5.17%
    20-30% 9 $2,995,000 $332,778 $3,904 5.25%
    43% 5 $1,065,000 $213,000 $0 5.35%
    39% 4 $410,000 $102,500 $1,286 5.19%
    36% 3 $495,000 $165,000 $2,822 5.00%
    47% 3 $385,000 $128,333 $2,054 5.50%
    48% 2 $180,000 $90,000 $0 5.25%
    45% 2 $360,000 $180,000 $3,688 5.38%
    40% 2 $320,000 $160,000 $0 5.00%
    44% 2 $550,000 $275,000 $0 4.88%
    49% 2 $50,000 $25,000 $1,709 5.13%
    42% 2 $150,000 $75,000 $0 5.13%
    41% 1 $25,000 $25,000 $1,092 4.00%

    Workmen's Circle Credit Union lent most frequently to those with DTI ratios of >60%, with 15 originations. The next most common DTI ratio? 30-36%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 92 $13,520,000 $146,957 $3,407 5.14%
    Not provided 1 $825,000 $825,000 $0 5.75%
    Black 6 $580,000 $96,667 $2,961 5.38%

    Approval Rates

    Total approvals of all applications
    95.73%

    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 origination
    86.87%

    Workmen's Circle Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 99 $14,925,000 $150,758

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $235,000 $235,000
    Single Family (1-4 Units):Site-Built 98 $14,690,000 $149,898

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $960,000 $80,000 $1,709 5.04%
    40-60% 33 $5,385,000 $163,182 $3,095 5.07%
    60-80% 38 $5,940,000 $156,316 $3,402 5.30%
    80-100% 2 $1,010,000 $505,000 $0 5.88%
    Over 100% 1 $235,000 $235,000 $0 5.00%
    Under 20% 12 $890,000 $74,167 $4,868 5.23%