Beach Community Mortgage Services Rates, Fees & Info

Fort Walton Beach, FL

LEI: 5493000W4QLNZXGPAF40

Tax ID: 20-3450673

2.7 stars - out of 5 stars, based on 20 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Beach Community Mortgage Services is a smaller mortgage company specializing in loans. Beach Community Mortgage Services has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Crestview, Pensacola, Tampa, Panama City, and Miami among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Beach Community Mortgage Services 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. Beach Community Mortgage Services is typically a high 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.78% 3/19/23
    30 Year Conventional Refi 6.50% 3/19/23
    30 Year Cash-out Refi 6.66% 3/19/23
    30 Year FHA Purchase 6.98% 3/19/23
    30 Year FHA Refi 6.27% 3/19/23
    30 Year VA Purchase 6.02% 3/19/23
    30 Year VA Refi 5.81% 3/19/23
    30 Year USDA Purchase 6.51% 3/19/23
    15 Year Conventional Purchase 6.15% 3/19/23
    15 Year Conventional Refi 6.04% 3/19/23
    15 Year Cash-out Refi 6.04% 3/19/23
    15 Year VA Purchase 5.68% 3/19/23
    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.


    Originations

    384

    Origination Dollar Volume (All Markets)

    $127,430,000

    Awards

    Beach Community Mortgage Services FHA Loans gold Beach Community Mortgage Services VA Loans bronze Beach Community Mortgage Services FHA Loans gold Beach Community Mortgage Services VA Loans silver
    Show all (4) awards

    Relative Rate

    Beach Community Mortgage Services's average 30 year fixed mortgage rate was 2.93%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.22%.

    Relative Fees (Closing Costs)

    Beach Community Mortgage Services's average total fees/closing costs for a 30 year fixed rate mortgage were $7,725.

    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 $4,750.

    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
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 240 $77,150,000 $321,458 $7,961 2.93%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 99 $33,255,000 $335,909 $7,228 2.79%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 16 $6,730,000 $420,625 $5,223 2.89%
    PANAMA CITY, FL (FHA|USDA|VA) 13 $3,015,000 $231,923 $5,308 3.72%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $2,505,000 $2,505,000 $27,050 4.13%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $675,000 $675,000 $13,156 2.38%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $550,000 $275,000 $4,157 3.25%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $465,000 $465,000 $3,666 2.63%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $415,000 $415,000 $4,580 2.50%
    Outside of Metro Areas 1 $365,000 $365,000 $15,657 2.38%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $355,000 $355,000 $3,646 2.63%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $335,000 $335,000 $15,028 2.75%
    GREENVILLE, NC (FHA|USDA|VA) 1 $305,000 $305,000 $3,767 3.50%
    MONTGOMERY, AL (FHA|USDA|VA) 1 $285,000 $285,000 $7,091 3.13%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $285,000 $285,000 $16,888 2.25%
    DOTHAN, AL (FHA|USDA|VA) 1 $275,000 $275,000 $2,604 3.00%
    MOBILE, AL (FHA|USDA|VA) 1 $205,000 $205,000 $2,682 3.25%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $145,000 $145,000 $2,654 3.63%
    TALLAHASSEE, FL (FHA|USDA|VA) 1 $115,000 $115,000 $5,714 2.50%
    Beach Community Mortgage Services's top markets include Crestview, Pensacola, Tampa, Panama City, and Miami among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Beach Community Mortgage Services based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    HARVESTERS FEDERAL CREDIT UNION
    Similarity Rank: 210
    Gulf Winds Credit Union
    Similarity Rank: 324
    MORTGAGE ONE OF THE SOUTH, INC.
    Similarity Rank: 476
    Eglin Federal Credit Union
    Similarity Rank: 636
    Pen Air Federal Credit Union
    Similarity Rank: 1112
    SmartBank
    Similarity Rank: 1184
    DSLD MORTGAGE, LLC
    Similarity Rank: 1566
    SAN ANTONIO CITIZENS
    Similarity Rank: 1792
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1974
    Republic State Mortgage Co.
    Similarity Rank: 1995

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    VA 182 $67,420,000 $370,440 $10,005 2.51%
    Conventional 180 $54,330,000 $301,833 $5,031 3.37%
    FHA 20 $5,270,000 $263,500 $8,486 2.66%
    USDA 2 $410,000 $205,000 $5,996 2.75%

    For 2021, Beach Community Mortgage Services's most frequently originated type of loan was VA, with 182 originations. Their 2nd most popular type was Conventional, with 180 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 298 $99,970,000 $335,470 $8,247 2.94%
    Cash Out Refi 45 $11,965,000 $265,889 $6,032 3.05%
    Refi 41 $15,495,000 $377,927 $4,452 2.63%

    For 2021, Beach Community Mortgage Services's most frequently cited loan purpose was Home Purchase, with 298 originations. The 2nd most popular reason was Cash Out Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 361 $120,705,000 $334,363 $7,725 2.93%
    15 Year 13 $3,095,000 $238,077 $3,509 2.84%
    30+ year 4 $1,700,000 $425,000 $9,299 3.03%
    20 Year 3 $815,000 $271,667 $3,575 2.79%
    Other 2 $650,000 $325,000 $12,493 2.69%
    10 Year 1 $465,000 $465,000 $3,666 2.63%

    For 2021, Beach Community Mortgage Services's most frequently cited loan duration was 30 Year, with 361 originations. The 2nd most popular length was 15 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 304 $99,730,000 $328,059
    $5k+ 23 $13,315,000 $578,913
    $1k-2k 17 $3,725,000 $219,118
    $2k-3k 17 $3,185,000 $187,353
    $4k-5k 12 $4,490,000 $374,167
    $3k-4k 10 $2,590,000 $259,000

    Beach Community Mortgage Services's average total fees were $7,725, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 304 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 147 $47,355,000 $322,143
    <2.5% 125 $46,015,000 $368,120
    3-4% 73 $20,335,000 $278,562
    4-5% 39 $13,725,000 $351,923

    During 2021, Beach Community Mortgage Services's average interest rate for loans was 2.93%, while their most frequently originated rate bucket for loans was 2.5-3%, with 147 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 222 $66,000,000 $297,297 $7,891 2.87%
    $400k-600k 67 $31,385,000 $468,433 $9,137 2.69%
    $100k-200k 65 $10,305,000 $158,538 $4,075 3.25%
    $600k-1MM 20 $15,020,000 $751,000 $11,194 3.08%
    $100,000 or less 8 $730,000 $91,250 $3,146 3.23%
    $1MM+ 2 $3,990,000 $1,995,000 $16,604 3.19%

    2021 saw Beach Community Mortgage Services place emphasis on $200k-400k loans with 222 originations, totaling $66,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 96 $30,950,000 $322,396 $7,562 2.97%
    $50k-75k 81 $20,055,000 $247,593 $7,598 2.88%
    $75k-100k 66 $20,180,000 $305,758 $9,188 2.78%
    $150k-250k 56 $22,710,000 $405,536 $7,906 2.91%
    $250k+ 32 $16,930,000 $529,063 $7,504 3.54%
    $50k or less 29 $6,005,000 $207,069 $5,864 2.89%

    Beach Community Mortgage Services lent most frequently to those with incomes in the $100k-150k range, with 96 originations. The second most popular income band? $50k-75k, with 81 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 90 $28,810,000 $320,111 $6,574 2.99%
    30-36% 62 $22,160,000 $357,419 $7,502 3.02%
    <20% 26 $7,370,000 $283,462 $5,599 3.01%
    50-60% 21 $8,015,000 $381,667 $12,765 2.71%
    47% 17 $5,945,000 $349,706 $9,504 2.73%
    38% 17 $5,875,000 $345,588 $6,822 3.01%
    37% 15 $5,035,000 $335,667 $8,436 2.70%
    36% 14 $4,460,000 $318,571 $8,429 2.78%
    39% 14 $3,600,000 $257,143 $6,940 3.08%
    43% 14 $4,510,000 $322,143 $7,263 2.73%
    40% 12 $3,360,000 $280,000 $5,974 3.30%
    41% 12 $3,680,000 $306,667 $9,289 2.90%
    42% 10 $2,890,000 $289,000 $7,598 2.88%
    48% 10 $2,600,000 $260,000 $7,651 2.94%
    49% 10 $3,790,000 $379,000 $10,942 3.12%
    44% 8 $2,380,000 $297,500 $8,391 3.69%
    45% 7 $2,195,000 $313,571 $9,256 2.57%
    46% 6 $1,910,000 $318,333 $8,842 2.73%

    Beach Community Mortgage Services lent most frequently to those with DTI ratios of 20-30%, with 90 originations. The next most common DTI ratio? 30-36%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 297 $100,505,000 $338,401 $7,678 2.86%
    Not provided 60 $18,240,000 $304,000 $7,055 3.25%
    Black 22 $7,150,000 $325,000 $8,013 2.79%
    Asian 5 $1,535,000 $307,000 $6,180 3.28%

    Approval Rates

    Total approvals of all applications
    97.69%

    Beach Community Mortgage Services 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
    79.17%

    Beach Community Mortgage Services has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 384 $127,430,000 $331,849

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    384 $127,430,000 $331,849

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $2,420,000 $242,000 $3,260 2.71%
    40-60% 32 $12,170,000 $380,313 $6,115 3.20%
    60-80% 106 $31,380,000 $296,038 $5,472 3.46%
    80-100% 172 $56,920,000 $330,930 $8,036 2.72%
    Over 100% 44 $15,590,000 $354,318 $14,206 2.55%
    Under 20% 1 $105,000 $105,000 $3,711 2.63%