The Southern Credit Union Mortgage Rates, Fees & Info
Fayetteville, GALEI: 549300LDBCZGR7DW6211
Tax ID: 58-0905515
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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, Cedartown, Columbus, and Macon among others. We have data for 7 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
100Origination Dollar Volume (All Markets)
$14,540,000Top 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) | 76 | $11,910,000 | $156,711 | $0 | 0.00% |
| LaGrange, GA-AL (FHA|USDA|VA) | 16 | $1,310,000 | $81,875 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $890,000 | $222,500 | $0 | 0.00% |
| Cedartown, GA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 100 | $14,540,000 | $145,400 | $0 | 0.00% |
For 2019, The Southern Credit Union's most frequently originated type of loan was Conventional, with 100 originations.
Loan Reason
For 2019, The Southern Credit Union's most frequently cited loan purpose was Cash Out Refi, with 39 originations. The 2nd most popular reason was Other, with 28 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 100 | $14,540,000 | $145,400 | $0 | 0.00% |
For 2019, The Southern Credit Union's most frequently cited loan duration was Other, with 100 originations.
Loan Sizing
2019 saw The Southern Credit Union place emphasis on $100,000 or less loans with 53 originations, totaling $2,545,000 in origination value.
Applicant Income
The Southern Credit Union lent most frequently to those with incomes in the $100k-150k range, with 22 originations. The second most popular income band? $75k-100k, with 21 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 100 | $14,540,000 | $145,400 | $0 | 0.00% |
The Southern Credit Union lent most frequently to those with DTI ratios of Exempt%, with 100 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.57%
The Southern Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination20.00%
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 | 100 | $14,540,000 | $145,400 |