Beach Community Mortgage Services Rates, Fees & Info
Fort Walton Beach, FLLEI: 5493000W4QLNZXGPAF40
Tax ID: 20-3450673
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Beach Community Mortgage Services is a smaller mortgage company specializing in Home Purchase 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 include Crestview, Pensacola, Tampa, Panama City, and Miami among others. Beach Community Mortgage Services has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Beach Community Mortgage Services is typically a high fee lendor.Originations
384Origination Dollar Volume (All Markets)
$127,430,000Awards
Beach Community Mortgage Services - 2021
Beach Community Mortgage Services is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Beach Community Mortgage Services 's average 30 year fixed rate mortgage of loans were
2.93%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.22%.
Relative Fees
Beach Community Mortgage Services 's average total fees for a 30 year fixed rate
mortgage are $7,725.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| 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.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average 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 the 2021 period, Beach Community Mortgage Services 's most frequently originated loan type of loans were VA, with 182 originations. Their 2nd most popular type is Conventional, with 180 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average 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 the 2021, Beach Community Mortgage Services 's most frequently cited loan purpose of loans were Home Purchase, with 298 originations. The 2nd most popular reason of loans were 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 the 2021, Beach Community Mortgage Services 's most frequently cited loan length of loans were 30 Year, with 361 originations. The 2nd most popular length of loans were 15 Year, with 13 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 304 | $99,730,000 | $328,059 |
| $5k+ | 23 | $13,315,000 | $578,913 |
| $3k-4k | 22 | $7,080,000 | $321,818 |
| $1k-2k | 17 | $3,725,000 | $219,118 |
| $2k-3k | 17 | $3,185,000 | $187,353 |
$7,725 of loans were Beach Community Mortgage Services 's average total fees, while their most frequently occuring range of origination fees 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 of loans were 2.93%, while their most frequently originated rate bucket of loans were 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 applications95.72%
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 origination80.33%
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% |
