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 Refi and Home Purchase loans. Southland Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Jose, San Diego, and Oxnard among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Southland Credit Union 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. 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) | 6.27% | 12/23/24 |
| 30 Year Conventional Purchase | 6.29% | 12/23/24 |
| 30 Year Conventional Refi | 6.33% | 12/23/24 |
| 30 Year Cash-out Refi | 6.43% | 12/23/24 |
| 15 Year Conventional Refi | 5.95% | 12/23/24 |
| 15 Year Cash-out Refi | 5.95% | 12/23/24 |
| 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. | ||
Southland Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
113Origination Dollar Volume (All Markets)
$49,655,000Awards
SOUTHLAND CREDIT UNION - 2018
SOUTHLAND CREDIT UNION is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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) | 90 | $41,600,000 | $462,222 | $4,187 | 4.35% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 16 | $5,020,000 | $313,750 | $4,702 | 4.37% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $1,185,000 | $1,185,000 | $4,227 | 3.88% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $3,038 | 3.88% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $5,805 | 4.63% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,301 | 3.88% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,707 | 4.00% |
| Outside of Metro Areas | 1 | $125,000 | $125,000 | $3,407 | 4.63% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,744 | 4.13% |
Their top states include:
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 113 | $49,655,000 | $439,425 | $4,257 | 4.34% |
For 2018, Southland Credit Union's most frequently originated type of loan was Conventional, with 113 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 78 | $32,870,000 | $421,410 | $3,354 | 4.38% |
| Home Purchase | 35 | $16,785,000 | $479,571 | $6,251 | 4.25% |
For 2018, Southland Credit Union's most frequently cited loan purpose was Refi, with 78 originations. The 2nd most popular reason was Home Purchase, with 35 originations.
Loan Duration/Length
For 2018, Southland Credit Union's most frequently cited loan duration was 30 Year, with 102 originations. The 2nd most popular length was 20 Year, with 6 originations.
Origination Fees/Closing Costs
Southland Credit Union's average total fees were $4,415, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 91 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 75 | $30,505,000 | $406,733 |
| 3-4% | 29 | $15,715,000 | $541,897 |
| 5-6% | 8 | $2,980,000 | $372,500 |
| 2.5-3% | 1 | $455,000 | $455,000 |
During 2018, Southland Credit Union's average interest rate for loans was 4.36%, while their most frequently originated rate bucket for loans was 4-5%, with 75 originations.
Loan Sizing
2018 saw Southland Credit Union place emphasis on $200k-400k loans with 48 originations, totaling $14,330,000 in origination value.
Applicant Income
Southland Credit Union lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $150k-250k, with 23 originations.
Applicant Debt to Income Ratio
Southland Credit Union lent most frequently to those with DTI ratios of 20-30%, with 16 originations. The next most common DTI ratio? 30-36%, with 11 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.98%
Southland Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination69.91%
Southland Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 113 | $49,655,000 | $439,425 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 3 | $3,405,000 | $1,135,000 |
| Single Family (1-4 Units):Site-Built | 110 | $46,250,000 | $420,455 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| 1ST ALLIANCE LENDING, LLC | FHA mortgage | Trouble during payment process | 1 | 100.0% |