Beach Community Mortgage Services Rates, Fees & Info

Fort Walton Beach, FL

LEI: 5493000W4QLNZXGPAF40

Tax ID: 20-3450673

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

  • Originations
  • 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 Home Purchase and Refi loans. Beach Community Mortgage Services has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Crestview, Pensacola, Tampa, Panama City, and Orlando among others. We have data for 17 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 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.

    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.


    Originations

    632

    Origination Dollar Volume (All Markets)

    $185,830,000
    Show all (6) awards

    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) 409 $118,445,000 $289,597 $5,972 2.99%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 179 $54,365,000 $303,715 $5,538 2.91%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 14 $5,110,000 $365,000 $5,133 2.89%
    PANAMA CITY, FL (FHA|USDA|VA) 9 $2,545,000 $282,778 $4,689 2.93%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $755,000 $251,667 $5,448 2.71%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $615,000 $205,000 $4,642 2.50%
    TALLAHASSEE, FL (FHA|USDA|VA) 3 $605,000 $201,667 $5,345 3.58%
    Alexander City, AL (FHA|USDA|VA) 1 $495,000 $495,000 $5,890 3.25%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $465,000 $465,000 $5,615 2.38%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 2 $400,000 $200,000 $5,250 2.75%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $385,000 $385,000 $4,824 2.75%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $365,000 $365,000 $3,147 3.00%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $315,000 $315,000 $8,539 2.75%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $265,000 $265,000 $3,535 3.13%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $260,000 $130,000 $3,279 2.56%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $255,000 $255,000 $3,772 2.75%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,478 3.13%
    Beach Community Mortgage Services's top markets include Crestview, Pensacola, Tampa, Panama City, and Orlando among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Virginia (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.

    Eglin Federal Credit Union
    Similarity Rank: 156
    Gulf Winds Credit Union
    Similarity Rank: 264
    METROPLEX MORTGAGE SERVICES, INC.
    Similarity Rank: 372
    HARVESTERS FEDERAL CREDIT UNION
    Similarity Rank: 430
    MORTGAGE ONE OF THE SOUTH, INC.
    Similarity Rank: 576
    CBM Mortgage, Inc.
    Similarity Rank: 702
    SAN ANTONIO CITIZENS
    Similarity Rank: 1170
    SouthPoint Bank
    Similarity Rank: 1504
    RAILROAD & INDUSTRIAL
    Similarity Rank: 2045
    Credence Funding Corporation
    Similarity Rank: 2400

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    VA 331 $107,785,000 $325,634 $6,978 2.61%
    Conventional 248 $66,920,000 $269,839 $3,949 3.43%
    FHA 47 $10,075,000 $214,362 $7,040 2.88%
    USDA 6 $1,050,000 $175,000 $5,003 3.31%

    For 2020, Beach Community Mortgage Services's most frequently originated type of loan was VA, with 331 originations. Their 2nd most popular type was Conventional, with 248 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 369 $106,215,000 $287,846 $6,992 3.04%
    Refi 180 $54,910,000 $305,056 $3,692 2.72%
    Cash Out Refi 58 $18,690,000 $322,241 $5,204 3.19%
    Home Improvement 25 $6,015,000 $240,600 $4,139 2.98%

    For 2020, Beach Community Mortgage Services's most frequently cited loan purpose was Home Purchase, with 369 originations. The 2nd most popular reason was Refi, with 180 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 604 $178,920,000 $296,225 $5,882 2.96%
    15 Year 14 $3,060,000 $218,571 $3,275 2.67%
    20 Year 10 $2,780,000 $278,000 $3,305 3.15%
    Other 3 $615,000 $205,000 $3,036 3.13%
    30+ year 1 $455,000 $455,000 $9,437 4.38%

    For 2020, Beach Community Mortgage Services's most frequently cited loan duration was 30 Year, with 604 originations. The 2nd most popular length was 15 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 563 $163,545,000 $290,488
    $1k-2k 33 $8,295,000 $251,364
    $2k-3k 15 $2,815,000 $187,667
    $3k-4k 9 $4,675,000 $519,444
    $5k+ 9 $4,345,000 $482,778
    $4k-5k 3 $2,155,000 $718,333

    Beach Community Mortgage Services's average total fees were $5,882, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 563 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 238 $73,360,000 $308,235
    <2.5% 192 $61,910,000 $322,448
    3-4% 143 $34,305,000 $239,895
    4-5% 50 $14,820,000 $296,400
    5-6% 9 $1,435,000 $159,444

    During 2020, Beach Community Mortgage Services's average interest rate for loans was 2.96%, while their most frequently originated rate bucket for loans was 2.5-3%, with 238 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 357 $101,915,000 $285,476 $6,131 2.80%
    $100k-200k 145 $22,735,000 $156,793 $4,101 3.26%
    $400k-600k 85 $40,425,000 $475,588 $6,743 2.78%
    $100,000 or less 21 $1,715,000 $81,667 $3,263 3.99%
    $600k-1MM 20 $14,190,000 $709,500 $9,242 3.21%
    $1MM+ 4 $4,850,000 $1,212,500 $10,051 3.53%

    2020 saw Beach Community Mortgage Services place emphasis on $200k-400k loans with 357 originations, totaling $101,915,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 144 $32,910,000 $228,542 $6,560 2.90%
    $100k-150k 122 $37,400,000 $306,557 $6,089 3.06%
    $75k-100k 93 $25,525,000 $274,462 $7,396 2.89%
    $150k-250k 74 $28,060,000 $379,189 $5,515 3.30%
    $50k or less 53 $8,755,000 $165,189 $4,851 3.24%
    $250k+ 23 $13,245,000 $575,870 $6,807 3.49%

    Beach Community Mortgage Services lent most frequently to those with incomes in the $50k-75k range, with 144 originations. The second most popular income band? $100k-150k, with 122 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 107 $31,145,000 $291,075 $5,875 3.05%
    20-30% 106 $30,590,000 $288,585 $5,310 3.10%
    <20% 33 $8,405,000 $254,697 $4,657 3.02%
    39% 27 $6,865,000 $254,259 $5,967 3.33%
    42% 25 $6,465,000 $258,600 $5,665 3.05%
    43% 25 $8,015,000 $320,600 $7,571 3.21%
    45% 22 $7,670,000 $348,636 $5,637 2.99%
    36% 21 $5,375,000 $255,952 $5,859 2.96%
    40% 21 $5,195,000 $247,381 $7,277 3.19%
    37% 20 $5,810,000 $290,500 $8,232 2.83%
    50-60% 19 $6,215,000 $327,105 $9,942 2.75%
    48% 18 $4,470,000 $248,333 $7,107 2.91%
    41% 17 $5,145,000 $302,647 $8,078 2.92%
    38% 17 $4,405,000 $259,118 $4,960 3.12%
    44% 11 $3,055,000 $277,727 $5,764 3.13%
    46% 9 $3,605,000 $400,556 $8,566 3.11%
    49% 8 $2,340,000 $292,500 $6,338 2.80%
    47% 6 $1,580,000 $263,333 $7,495 3.46%
    >60% 4 $1,020,000 $255,000 $10,374 2.81%

    Beach Community Mortgage Services lent most frequently to those with DTI ratios of 30-36%, with 107 originations. The next most common DTI ratio? 20-30%, with 106 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 523 $154,785,000 $295,956 $5,736 2.97%
    Not provided 63 $19,405,000 $308,016 $6,559 2.94%
    Black 23 $5,915,000 $257,174 $5,399 2.80%
    Asian 18 $4,960,000 $275,556 $5,064 2.92%
    American Indian 3 $575,000 $191,667 $5,109 2.63%
    Native Hawaiian or Islander 2 $190,000 $95,000 $2,995 3.19%

    Approval Rates

    Total approvals of all applications
    97.39%

    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
    82.12%

    Beach Community Mortgage Services has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 632 $185,830,000 $294,035

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 632 $185,830,000 $294,035

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $2,240,000 $160,000 $3,680 3.17%
    40-60% 49 $13,095,000 $267,245 $4,367 3.22%
    60-80% 141 $39,045,000 $276,915 $4,136 3.46%
    80-100% 265 $79,015,000 $298,170 $6,758 2.89%
    Over 100% 49 $14,385,000 $293,571 $12,019 2.61%