The Southern Credit Union Mortgage Rates, Fees & Info

Fayetteville, GA

LEI: 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 Refi loans. The Southern Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Atlanta, Lagrange, Alexander City, Panama City, and Brevard among others. We have data for 8 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

110

Origination Dollar Volume (All Markets)

$16,700,000

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
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 94 $13,610,000 $144,787 $0 0.00%
LaGrange, GA-AL (FHA|USDA|VA) 10 $990,000 $99,000 $0 0.00%
Outside of Metro Areas 1 $615,000 $615,000 $0 0.00%
Alexander City, AL (FHA|USDA|VA) 1 $475,000 $475,000 $0 0.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $435,000 $435,000 $0 0.00%
Brevard, NC (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Dublin, GA (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
The Southern Credit Union's top markets include Atlanta, Lagrange, Alexander City, Panama City, and Brevard among others.

Their top states include:
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 110 $16,700,000 $151,818 $0 0.00%

    For 2020, The Southern Credit Union's most frequently originated type of loan was Conventional, with 110 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 66 $9,010,000 $136,515 $0 0.00%
    Refi 18 $3,740,000 $207,778 $0 0.00%
    Other 17 $885,000 $52,059 $0 0.00%
    Home Purchase 9 $3,065,000 $340,556 $0 0.00%

    For 2020, The Southern Credit Union's most frequently cited loan purpose was Cash Out Refi, with 66 originations. The 2nd most popular reason was Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 110 $16,700,000 $151,818 $0 0.00%

    For 2020, The Southern Credit Union's most frequently cited loan duration was Other, with 110 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 46 $2,740,000 $59,565 $0 0.00%
    $100k-200k 39 $5,805,000 $148,846 $0 0.00%
    $200k-400k 18 $4,550,000 $252,778 $0 0.00%
    $400k-600k 4 $1,780,000 $445,000 $0 0.00%
    $600k-1MM 3 $1,825,000 $608,333 $0 0.00%

    2020 saw The Southern Credit Union place emphasis on $100,000 or less loans with 46 originations, totaling $2,740,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 30 $4,980,000 $166,000 $0 0.00%
    $150k-250k 27 $4,645,000 $172,037 $0 0.00%
    $50k-75k 20 $2,120,000 $106,000 $0 0.00%
    $75k-100k 19 $2,555,000 $134,474 $0 0.00%
    $50k or less 10 $610,000 $61,000 $0 0.00%
    $250k+ 4 $1,790,000 $447,500 $0 0.00%

    The Southern Credit Union lent most frequently to those with incomes in the $100k-150k range, with 30 originations. The second most popular income band? $150k-250k, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 110 $16,700,000 $151,818 $0 0.00%

    The Southern Credit Union lent most frequently to those with DTI ratios of Exempt%, with 110 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 58 $8,540,000 $147,241 $0 0.00%
    White 44 $7,530,000 $171,136 $0 0.00%
    Black 8 $630,000 $78,750 $0 0.00%

    Approval Rates

    Total approvals of all applications
    74.73%

    The Southern Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    -50.00%

    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 110 $16,700,000 $151,818

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 110 $16,700,000 $151,818