Southland Credit Union Mortgage Rates, Fees & Info
Los Alamitos, CALEI: 5493006YSC5JOGNPMH78
Tax ID: 95-1585409
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Mortgage Data
Review & Overview
Southland Credit Union is a smaller credit union specializing in Home Purchase loans. Southland Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, San Diego, Riverside, Sacramento, and Oxnard among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Southland Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Southland 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.97% | 5/25/25 |
| 30 Year Conventional Purchase | 6.75% | 5/25/25 |
| 30 Year Conventional Refi | 5.68% | 5/25/25 |
| 30 Year Cash-out Refi | 6.36% | 5/25/25 |
| 15 Year Conventional Purchase | 5.33% | 5/25/25 |
| 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. | ||
Southland Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Southland Credit Union. 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
281Origination Dollar Volume (All Markets)
$113,005,000Awards
SOUTHLAND CREDIT UNION - 2024
SOUTHLAND CREDIT UNION is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Southland Credit Union's average 30 year fixed mortgage rate was
5.67%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.88%.
Relative Fees (Closing Costs)
Southland Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,502.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 236 | $92,470,000 | $391,822 | $6,309 | 7.95% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 11 | $10,815,000 | $983,182 | $9,998 | 5.81% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 20 | $3,670,000 | $183,500 | $5,722 | 8.44% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 6 | $2,610,000 | $435,000 | $3,327 | 6.00% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 4 | $2,100,000 | $525,000 | $7,703 | 7.41% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $4,837 | 6.69% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 9.50% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,767 | 5.63% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against SOUTHLAND 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 |
|---|---|---|---|---|---|
| HELOC | 193 | $33,685,000 | $174,534 | n/a | 8.84% |
| Conventional | 88 | $79,320,000 | $901,364 | $6,502 | 5.67% |
For 2024, Southland Credit Union's most frequently originated type of loan was HELOC, with 193 originations. Their 2nd most popular type was Conventional, with 88 originations.
Loan Reason
For 2024, Southland Credit Union's most frequently cited loan purpose was Home Improvement, with 99 originations. The 2nd most popular reason was Other, with 81 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 193 | $33,685,000 | $174,534 | $0 | 8.84% |
| 30 Year | 88 | $79,320,000 | $901,364 | $6,502 | 5.67% |
For 2024, Southland Credit Union's most frequently cited loan duration was Other, with 193 originations. The 2nd most popular length was 30 Year, with 88 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 81 | $74,015,000 | $913,765 |
| $2k-3k | 5 | $4,025,000 | $805,000 |
| $3k-4k | 2 | $1,280,000 | $640,000 |
Southland Credit Union's average total fees were $6,502, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 81 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 165 | $27,745,000 | $168,152 |
| 5-6% | 71 | $67,075,000 | $944,718 |
| 7-8% | 28 | $5,940,000 | $212,143 |
| 6-7% | 11 | $7,085,000 | $644,091 |
| 4-5% | 6 | $5,160,000 | $860,000 |
During 2024, Southland Credit Union's average interest rate for loans was 5.67%, while their most frequently originated rate bucket for loans was Over 8%, with 165 originations.
Loan Sizing
2024 saw Southland Credit Union place emphasis on $100,000 or less loans with 68 originations, totaling $4,110,000 in origination value.
Applicant Income
Southland Credit Union lent most frequently to those with incomes in the $250k+ range, with 94 originations. The second most popular income band? $150k-250k, with 76 originations.
Applicant Debt to Income Ratio
Southland Credit Union lent most frequently to those with DTI ratios of 50-60%, with 64 originations. The next most common DTI ratio? 30-36%, with 43 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications65.99%
Southland Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination72.95%
Southland Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 281 | $113,005,000 | $402,153 |