Family Savings Mortgage Rates, Fees & Info
Rainbow City, ALLEI: 549300QWWDI5EBFCNL02
Tax ID: 63-0355713
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Mortgage Data
Review & Overview
Family Savings is a smaller mortgage company specializing in Other, Cash Out Refi, and Home Purchase loans. Family Savings has a high proportion of conventional loans. Their top markets by origination volume include: Atlanta, Albertville, Gadsden, Calhoun, and Cedartown among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)Family Savings has an average approval rate when compared to the average across all lenders.
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 |
|---|---|---|
| 30 Year Conventional Refi | 7.35% | 12/16/24 |
| 15 Year Conventional Purchase | 6.63% | 12/16/24 |
| 15 Year Conventional Refi | 6.76% | 12/16/24 |
| 15 Year Cash-out Refi | 6.76% | 12/16/24 |
| 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. | ||
Family Savings Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
765Origination Dollar Volume (All Markets)
$75,025,000Top 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) | 283 | $21,345,000 | $75,424 | $2,347 | 8.56% |
| Albertville, AL (FHA|USDA|VA) | 83 | $15,875,000 | $191,265 | $0 | 7.64% |
| Outside of Metro Areas | 12 | $11,450,000 | $954,167 | $2,138 | 7.87% |
| GADSDEN, AL (FHA|USDA|VA) | 167 | $10,295,000 | $61,647 | $1,829 | 8.45% |
| Calhoun, GA (FHA|USDA|VA) | 56 | $3,170,000 | $56,607 | $1,989 | 8.53% |
| Cedartown, GA (FHA|USDA|VA) | 46 | $3,140,000 | $68,261 | $2,201 | 8.54% |
| Fort Payne, AL (FHA|USDA|VA) | 20 | $2,810,000 | $140,500 | $1,615 | 7.84% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 11 | $1,215,000 | $110,455 | $0 | 8.07% |
| Scottsboro, AL (FHA|USDA|VA) | 21 | $1,165,000 | $55,476 | $1,470 | 8.61% |
| ROME, GA (FHA|USDA|VA) | 22 | $1,070,000 | $48,636 | $2,367 | 8.53% |
| DECATUR, AL (FHA|USDA|VA) | 5 | $545,000 | $109,000 | $0 | 8.00% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 12 | $500,000 | $41,667 | $0 | 8.94% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 9 | $455,000 | $50,556 | $0 | 8.36% |
| DALTON, GA (FHA|USDA|VA) | 5 | $395,000 | $79,000 | $1,945 | 8.40% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 9.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 8.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 8.13% |
| Summerville, GA (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $0 | 8.83% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 8.00% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 9.00% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 7.50% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 8.25% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 8.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 580 | $35,520,000 | $61,241 | n/a | 8.66% |
| Conventional | 185 | $39,505,000 | $213,541 | $2,081 | 7.57% |
For 2023, Family Savings's most frequently originated type of loan was HELOC, with 580 originations. Their 2nd most popular type was Conventional, with 185 originations.
Loan Reason
For 2023, Family Savings's most frequently cited loan purpose was Other, with 570 originations. The 2nd most popular reason was Cash Out Refi, with 95 originations.
Loan Duration/Length
For 2023, Family Savings's most frequently cited loan duration was 20 Year, with 607 originations. The 2nd most popular length was 15 Year, with 89 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 56 | $6,240,000 | $111,429 |
Family Savings's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 56 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 515 | $31,595,000 | $61,350 |
| 7-8% | 206 | $27,670,000 | $134,320 |
| 6-7% | 41 | $10,915,000 | $266,220 |
| 5-6% | 3 | $4,845,000 | $1,615,000 |
During 2023, Family Savings's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 515 originations.
Loan Sizing
2023 saw Family Savings place emphasis on $100,000 or less loans with 550 originations, totaling $26,740,000 in origination value.
Applicant Income
Family Savings lent most frequently to those with incomes in the $100k-150k range, with 166 originations. The second most popular income band? $50k-75k, with 150 originations.
Applicant Debt to Income Ratio
Family Savings lent most frequently to those with DTI ratios of 20-30%, with 162 originations. The next most common DTI ratio? 30-36%, with 127 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.10%
Family Savings has a below average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 765 | $75,025,000 | $98,072 |