Southeastern Credit Union Mortgage Rates, Fees & Info
Valdosta, GALEI: 5493003T62KDXQ6J4W58
Tax ID: 58-0801176
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Mortgage Data
Review & Overview
Southeastern Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Southeastern Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Valdosta, Waycross, Tifton, Brunswick, and Albany among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Southeastern 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.
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 |
|---|---|---|
| 30 Year Conventional Purchase | 7.19% | 12/16/24 |
| 30 Year Conventional Refi | 6.86% | 12/16/24 |
| 30 Year Cash-out Refi | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 7.07% | 12/16/24 |
| 15 Year Conventional Refi | 6.56% | 12/16/24 |
| 15 Year Cash-out Refi | 6.56% | 12/16/24 |
| 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. | ||
Southeastern Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
126Origination Dollar Volume (All Markets)
$15,680,000Top 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 |
|---|---|---|---|---|---|
| VALDOSTA, GA (FHA|USDA|VA) | 89 | $12,545,000 | $140,955 | $3,982 | 5.09% |
| Waycross, GA (FHA|USDA|VA) | 20 | $1,260,000 | $63,000 | $2,359 | 5.30% |
| Tifton, GA (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $2,518 | 4.90% |
| Outside of Metro Areas | 7 | $525,000 | $75,000 | $2,625 | 5.21% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 4.95% |
| ALBANY, GA (FHA|USDA|VA) | 3 | $165,000 | $55,000 | $0 | 6.14% |
| Vidalia, GA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 5.50% |
| Bainbridge, GA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 5.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against SOUTHEASTERN Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 118 | $14,670,000 | $124,322 | $3,335 | 5.13% |
| HELOC | 8 | $1,010,000 | $126,250 | n/a | 5.45% |
For 2018, Southeastern Credit Union's most frequently originated type of loan was Conventional, with 118 originations. Their 2nd most popular type was HELOC, with 8 originations.
Loan Reason
For 2018, Southeastern Credit Union's most frequently cited loan purpose was Home Purchase, with 62 originations. The 2nd most popular reason was Refi, with 50 originations.
Loan Duration/Length
For 2018, Southeastern Credit Union's most frequently cited loan duration was 15 Year, with 84 originations. The 2nd most popular length was Other, with 21 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 9 | $1,315,000 | $146,111 |
| $<1k | 7 | $375,000 | $53,571 |
| $3k-4k | 3 | $1,035,000 | $345,000 |
| $2k-3k | 2 | $470,000 | $235,000 |
Southeastern Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 9 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 73 | $8,085,000 | $110,753 |
| 4-5% | 48 | $6,760,000 | $140,833 |
| 3-4% | 3 | $415,000 | $138,333 |
| 6-7% | 1 | $325,000 | $325,000 |
| 7-8% | 1 | $95,000 | $95,000 |
During 2018, Southeastern Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 73 originations.
Loan Sizing
2018 saw Southeastern Credit Union place emphasis on $100,000 or less loans with 77 originations, totaling $4,475,000 in origination value.
Applicant Income
Southeastern Credit Union lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $150k-250k, with 17 originations.
Applicant Debt to Income Ratio
Southeastern Credit Union lent most frequently to those with DTI ratios of <20%, with 26 originations. The next most common DTI ratio? 20-30%, with 16 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.74%
Southeastern 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 origination96.83%
Southeastern 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 | 126 | $15,680,000 | $124,444 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SOUTHEAST MORTGAGE OF GA INC | FHA mortgage | Closing on a mortgage | 1 | 50.0% |
| SOUTHEAST MORTGAGE OF GA INC | FHA mortgage | Improper use of your report | 1 | 50.0% |