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, Statesboro, Hinesville, and Atlanta among others. We have data for 4 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 an above average pick rate when compared to similar lenders. They typically have about average rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.85% | 4/28/24 |
| 30 Year Conventional Purchase | 6.53% | 4/28/24 |
| 15 Year Conventional Purchase | 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. | ||
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
128Origination Dollar Volume (All Markets)
$27,850,000Top 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) | 125 | $27,335,000 | $218,680 | $0 | 4.70% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 5.50% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 5.25% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 70 | $17,410,000 | $248,714 | $0 | 4.91% |
| HELOC | 58 | $10,440,000 | $180,000 | n/a | 4.49% |
For 2022, Workmen's Circle Credit Union's most frequently originated type of loan was Conventional, with 70 originations. Their 2nd most popular type was HELOC, with 58 originations.
Loan Reason
For 2022, Workmen's Circle Credit Union's most frequently cited loan purpose was Home Purchase, with 44 originations. The 2nd most popular reason was Home Improvement, with 37 originations.
Loan Duration/Length
For 2022, Workmen's Circle Credit Union's most frequently cited loan duration was 5 Year, with 55 originations. The 2nd most popular length was 15 Year, with 53 originations.
Interest Rates
During 2022, Workmen's Circle Credit Union's average interest rate for loans was 4.25%, while their most frequently originated rate bucket for loans was 3-4%, with 44 originations.
Loan Sizing
2022 saw Workmen's Circle Credit Union place emphasis on $100,000 or less loans with 45 originations, totaling $2,835,000 in origination value.
Applicant Income
Workmen's Circle Credit Union lent most frequently to those with incomes in the $250k+ range, with 36 originations. The second most popular income band? $100k-150k, with 29 originations.
Applicant Debt to Income Ratio
Workmen's Circle Credit Union lent most frequently to those with DTI ratios of <20%, with 35 originations. The next most common DTI ratio? 20-30%, with 25 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 117 | $25,735,000 | $219,957 | $0 | 4.69% |
| Black | 9 | $1,415,000 | $157,222 | $0 | 5.17% |
| Asian | 2 | $700,000 | $350,000 | $0 | 4.50% |
Approval Rates
Total approvals of all applications97.81%
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 origination95.31%
Workmen's Circle 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 | 128 | $27,850,000 | $217,578 |