Heritage South Community Cu Mortgage Rates, Fees & Info

Shelbyville, TN

LEI: 5493006MRGHEPWMR2015

Tax ID: 62-6040478

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Heritage South Community Cu is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Heritage South Community Cu has a high proportion of conventional loans. Their top markets by origination volume include: Shelbyville, Lewisburg, Nashville, Tullahoma, and Knoxville among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Heritage South Community Cu has an average approval rate when compared to the average across all lenders. They have a below 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
    15 Year Conventional Purchase 7.33% 4/5/25
    15 Year Conventional Refi 8.00% 4/5/25
    15 Year Cash-out Refi 8.00% 4/5/25
    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.

    Heritage South Community Cu Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Heritage South Community Cu. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    109

    Origination Dollar Volume (All Markets)

    $20,255,000

    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
    Shelbyville, TN (FHA|USDA|VA) 57 $10,295,000 $180,614 $2,738 8.30%
    Lewisburg, TN (FHA|USDA|VA) 17 $4,975,000 $292,647 $2,899 8.19%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 27 $3,995,000 $147,963 $2,737 8.53%
    Outside of Metro Areas 3 $385,000 $128,333 $3,143 8.90%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 4 $330,000 $82,500 $2,606 8.35%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $275,000 $275,000 $2,673 7.20%
    Heritage South Community Cu's top markets include Shelbyville, Lewisburg, Nashville, Tullahoma, and Knoxville among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)

    • Similar Lenders

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

    The Farmers Bank
    Similarity Rank: 510
    CORNERSTONE FINANCIAL CREDIT UNION
    Similarity Rank: 670
    TENNESSEE TRUST MORTGAGE, INC
    Similarity Rank: 1062
    ASCEND FEDERAL CREDIT UNION
    Similarity Rank: 1122
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 1392
    SHELTER LENDING SERVICES, L.L.C.
    Similarity Rank: 1485
    First Federal Bank
    Similarity Rank: 1540
    First Farmers and Merchants Bank
    Similarity Rank: 1672
    FIRST EQUITY MORTGAGE INCORPORATED
    Similarity Rank: 2023
    Citizens Bank of Lafayette
    Similarity Rank: 2172

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 109 $20,255,000 $185,826 $2,755 8.35%

    For 2024, Heritage South Community Cu's most frequently originated type of loan was Conventional, with 109 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 45 $11,715,000 $260,333 $3,513 8.37%
    Cash Out Refi 43 $5,765,000 $134,070 $2,483 8.38%
    Refi 16 $2,050,000 $128,125 $2,196 8.25%
    Home Improvement 3 $585,000 $195,000 $3,440 8.17%
    Other 2 $140,000 $70,000 $0 8.26%

    For 2024, Heritage South Community Cu's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Cash Out Refi, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 28 $6,220,000 $222,143 $3,376 7.96%
    1 Year 27 $7,655,000 $283,519 $0 8.62%
    15 Year 25 $2,095,000 $83,800 $2,267 7.95%
    5 Year 23 $3,825,000 $166,304 $0 8.96%
    10 Year 6 $460,000 $76,667 $2,334 8.22%

    For 2024, Heritage South Community Cu's most frequently cited loan duration was Other, with 28 originations. The 2nd most popular length was 1 Year, with 27 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 44 $3,950,000 $89,773
    $1k-2k 9 $3,265,000 $362,778

    Heritage South Community Cu's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 44 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 74 $13,100,000 $177,027
    7-8% 35 $7,155,000 $204,429

    During 2024, Heritage South Community Cu's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 74 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 43 $2,395,000 $55,698 $2,268 8.38%
    $100k-200k 30 $4,470,000 $149,000 $2,840 8.35%
    $200k-400k 22 $5,760,000 $261,818 $3,425 8.39%
    $400k-600k 11 $5,095,000 $463,182 $4,940 8.19%
    $600k-1MM 2 $1,330,000 $665,000 $5,090 8.10%
    $1MM+ 1 $1,205,000 $1,205,000 $0 8.00%

    2024 saw Heritage South Community Cu place emphasis on $100,000 or less loans with 43 originations, totaling $2,395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 25 $8,075,000 $323,000 $3,504 8.48%
    $50k-75k 20 $2,140,000 $107,000 $2,528 8.61%
    $100k-150k 19 $3,755,000 $197,632 $3,189 8.50%
    $50k or less 18 $1,330,000 $73,889 $2,388 7.76%
    $150k-250k 17 $3,255,000 $191,471 $3,236 8.39%
    $75k-100k 10 $1,700,000 $170,000 $2,719 8.20%

    Heritage South Community Cu lent most frequently to those with incomes in the $250k+ range, with 25 originations. The second most popular income band? $50k-75k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    >60% 19 $3,885,000 $204,474 $3,799 8.72%
    20-30% 16 $2,710,000 $169,375 $2,951 8.31%
    30-36% 16 $2,760,000 $172,500 $2,865 8.11%
    <20% 15 $3,805,000 $253,667 $2,512 8.05%
    50-60% 10 $1,400,000 $140,000 $2,442 8.42%
    44% 5 $1,395,000 $279,000 $0 8.79%
    41% 4 $770,000 $192,500 $0 8.84%
    40% 4 $740,000 $185,000 $2,636 8.15%
    36% 3 $235,000 $78,333 $1,987 7.73%
    39% 3 $265,000 $88,333 $2,261 8.12%
    48% 3 $705,000 $235,000 $0 9.03%
    49% 2 $370,000 $185,000 $3,070 8.38%
    45% 2 $240,000 $120,000 $2,726 8.18%
    43% 2 $240,000 $120,000 $2,712 7.64%
    42% 2 $300,000 $150,000 $2,079 8.31%
    37% 1 $75,000 $75,000 $2,339 8.20%
    47% 1 $215,000 $215,000 $0 8.73%
    38% 1 $145,000 $145,000 $3,580 7.97%

    Heritage South Community Cu lent most frequently to those with DTI ratios of >60%, with 19 originations. The next most common DTI ratio? 20-30%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 99 $19,365,000 $195,606 $2,755 8.32%
    Black 8 $790,000 $98,750 $3,162 8.93%
    Not provided 2 $100,000 $50,000 $2,148 7.50%

    Approval Rates

    Total approvals of all applications
    85.06%

    Heritage South Community Cu has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.99%

    Heritage South Community Cu has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 109 $20,255,000 $185,826

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    109 $20,255,000 $185,826

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $2,425,000 $89,815 $2,299 8.37%
    40-60% 17 $3,665,000 $215,588 $2,642 8.23%
    60-80% 24 $5,670,000 $236,250 $3,466 8.39%
    80-100% 22 $7,510,000 $341,364 $4,185 8.35%
    Over 100% 1 $155,000 $155,000 $3,123 7.34%
    Under 20% 18 $830,000 $46,111 $2,197 8.42%