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 Refi and Home Purchase loans. Southeastern Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Valdosta, Tifton, Waycross, Hinesville, and Albany among others. We have data for 7 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 a below average pick rate when compared to similar lenders. Southeastern Credit Union is typically a low 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.
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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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This is not an official calculator from Southeastern Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
167Origination Dollar Volume (All Markets)
$25,935,000Top 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) | 96 | $13,630,000 | $141,979 | $2,573 | 5.32% |
| Tifton, GA (FHA|USDA|VA) | 10 | $5,260,000 | $526,000 | $0 | 5.60% |
| Waycross, GA (FHA|USDA|VA) | 41 | $4,515,000 | $110,122 | $2,059 | 5.33% |
| Outside of Metro Areas | 14 | $1,730,000 | $123,571 | $2,481 | 5.23% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 5.51% |
| ALBANY, GA (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $0 | 5.12% |
| BRUNSWICK, GA (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 5.88% |
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.
Similarity Rank: 420
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Similarity Rank: 3450
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Similarity Rank: 6237
Similarity Rank: 6669
Similarity Rank: 7080
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 165 | $25,385,000 | $153,848 | $2,337 | 5.33% |
| HELOC | 2 | $550,000 | $275,000 | n/a | 5.51% |
For 2019, Southeastern Credit Union's most frequently originated type of loan was Conventional, with 165 originations. Their 2nd most popular type was HELOC, with 2 originations.
Loan Reason
For 2019, Southeastern Credit Union's most frequently cited loan purpose was Refi, with 72 originations. The 2nd most popular reason was Home Purchase, with 55 originations.
Loan Duration/Length
For 2019, Southeastern Credit Union's most frequently cited loan duration was 15 Year, with 89 originations. The 2nd most popular length was Other, with 33 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 35 | $3,075,000 | $87,857 |
| $1k-2k | 12 | $2,080,000 | $173,333 |
| $2k-3k | 3 | $935,000 | $311,667 |
| $3k-4k | 1 | $405,000 | $405,000 |
Southeastern Credit Union's average total fees were $1,489, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 35 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 99 | $14,515,000 | $146,616 |
| 4-5% | 58 | $8,430,000 | $145,345 |
| 6-7% | 7 | $2,905,000 | $415,000 |
| 7-8% | 1 | $25,000 | $25,000 |
| Over 8% | 1 | $35,000 | $35,000 |
During 2019, Southeastern Credit Union's average interest rate for loans was 4.40%, while their most frequently originated rate bucket for loans was 5-6%, with 99 originations.
Loan Sizing
2019 saw Southeastern Credit Union place emphasis on $100,000 or less loans with 102 originations, totaling $6,000,000 in origination value.
Applicant Income
Southeastern Credit Union lent most frequently to those with incomes in the $75k-100k range, with 30 originations. The second most popular income band? $100k-150k, with 25 originations.
Applicant Debt to Income Ratio
Southeastern Credit Union lent most frequently to those with DTI ratios of 20-30%, with 40 originations. The next most common DTI ratio? 30-36%, with 24 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.48%
Southeastern Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination86.83%
Southeastern Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 167 | $25,935,000 | $155,299 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SOUTHSTATE CORPORATION | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |