The Southern Credit Union Mortgage Rates, Fees & Info
Fayetteville, GALEI: 549300LDBCZGR7DW6211
Tax ID: 58-0905515
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
The Southern Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. The Southern Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Atlanta, Lagrange, Brunswick, Seneca, and Daphne among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)The Southern 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.
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Originations
96Origination Dollar Volume (All Markets)
$13,200,000Top 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 |
|---|---|---|---|---|---|
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 79 | $9,875,000 | $125,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $720,000 | $360,000 | $0 | 0.00% |
| LaGrange, GA-AL (FHA|USDA|VA) | 8 | $710,000 | $88,750 | $0 | 0.00% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 0.00% |
| Seneca, SC (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Thomaston, GA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Dublin, GA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 96 | $13,200,000 | $137,500 | $0 | 0.00% |
For 2018, The Southern Credit Union's most frequently originated type of loan was Conventional, with 96 originations.
Loan Reason
For 2018, The Southern Credit Union's most frequently cited loan purpose was Cash Out Refi, with 42 originations. The 2nd most popular reason was Other, with 26 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 96 | $13,200,000 | $137,500 | $0 | 0.00% |
For 2018, The Southern Credit Union's most frequently cited loan duration was Other, with 96 originations.
Loan Sizing
2018 saw The Southern Credit Union place emphasis on $100,000 or less loans with 53 originations, totaling $2,705,000 in origination value.
Applicant Income
The Southern Credit Union lent most frequently to those with incomes in the $75k-100k range, with 24 originations. The second most popular income band? $100k-150k, with 23 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 96 | $13,200,000 | $137,500 | $0 | 0.00% |
The Southern Credit Union lent most frequently to those with DTI ratios of Exempt%, with 96 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 81 | $12,165,000 | $150,185 | $0 | 0.00% |
| Not provided | 7 | $575,000 | $82,143 | $0 | 0.00% |
| Black | 8 | $460,000 | $57,500 | $0 | 0.00% |
Approval Rates
Total approvals of all applications87.25%
The Southern Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination14.58%
The Southern 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 |
|---|---|---|---|
| Exempt | 96 | $13,200,000 | $137,500 |