Credit Union Of Georgia Mortgage Rates, Fees & Info

Woodstock, GA

LEI: 549300STHIK6SGJQIY70

Tax ID: 58-6034116

5 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Credit Union Of Georgia is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Credit Union Of Georgia has a high proportion of conventional loans. Their top markets include Atlanta, Brunswick, Tampa, Savannah, and Warner Robins among others. Credit Union Of Georgia has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Credit Union Of Georgia is typically an average fee lendor.


Originations

688

Origination Dollar Volume (All Markets)

$111,210,000

Relative Rate

Credit Union Of Georgia's average 30 year fixed rate mortgage of loans were 3.03%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.12%.

Relative Fees

Credit Union Of Georgia's average total fees for a 30 year fixed rate mortgage are $4,194.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 659 $103,965,000 $157,762 $84 3.36%
Outside of Metro Areas 11 $2,445,000 $222,273 $0 3.25%
BRUNSWICK, GA (FHA|USDA|VA) 3 $1,065,000 $355,000 $0 2.50%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $505,000 $505,000 $0 2.75%
SAVANNAH, GA (FHA|USDA|VA) 1 $455,000 $455,000 $0 2.50%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $445,000 $445,000 $0 2.63%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $415,000 $415,000 $0 2.50%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $395,000 $395,000 $0 2.88%
PITTSBURGH, PA (FHA|USDA|VA) 1 $385,000 $385,000 $0 2.88%
VALDOSTA, GA (FHA|USDA|VA) 3 $355,000 $118,333 $225 3.69%
ALBANY, GA (FHA|USDA|VA) 1 $215,000 $215,000 $0 2.75%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $215,000 $215,000 $0 2.38%
OCALA, FL (FHA|USDA|VA) 1 $145,000 $145,000 $0 3.00%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $145,000 $145,000 $0 3.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.54%
Cedartown, GA (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.29%

Credit Union Of Georgia's top markets include Atlanta, Brunswick, Tampa, Savannah, and Warner Robins among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 688 $111,210,000 $161,642 $84 3.35%

For the 2021 period, Credit Union Of Georgia's most frequently originated loan type of loans were Conventional, with 688 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 172 $42,830,000 $249,012 $4,194 2.93%
Home Improvement 159 $9,535,000 $59,969 $69 3.57%
Refi 135 $24,885,000 $184,333 $93 3.08%
Other 128 $8,330,000 $65,078 $66 4.15%
Home Purchase 94 $25,630,000 $272,660 $88 3.03%

For the 2021, Credit Union Of Georgia's most frequently cited loan purpose of loans were Cash Out Refi, with 172 originations. The 2nd most popular reason of loans were Home Improvement, with 159 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 237 $65,195,000 $275,084 $4,194 3.03%
15 Year 214 $25,710,000 $120,140 $81 3.80%
10 Year 122 $9,480,000 $77,705 $66 3.58%
5 Year 76 $3,110,000 $40,921 $60 3.00%
20 Year 34 $7,050,000 $207,353 $0 2.75%
Other 5 $665,000 $133,000 $93 2.87%

For the 2021, Credit Union Of Georgia's most frequently cited loan length of loans were 30 Year, with 237 originations. The 2nd most popular length of loans were 15 Year, with 214 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 338 $22,470,000 $66,479

$4,194 of loans were Credit Union Of Georgia's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 338 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 246 $52,580,000 $213,740
3-4% 223 $30,615,000 $137,287
4-5% 104 $8,730,000 $83,942
<2.5% 76 $17,030,000 $224,079
5-6% 23 $1,285,000 $55,870
6-7% 8 $590,000 $73,750
7-8% 7 $355,000 $50,714
Over 8% 1 $25,000 $25,000

During 2021, Credit Union Of Georgia's average interest rate of loans were 3.03%, while their most frequently originated rate bucket of loans were 2.5-3%, with 246 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 280 $13,170,000 $47,036 $58 3.81%
$200k-400k 186 $50,470,000 $271,344 $640 2.96%
$100k-200k 182 $27,510,000 $151,154 $103 3.13%
$400k-600k 35 $16,465,000 $470,429 $0 2.90%
$600k-1MM 5 $3,595,000 $719,000 $0 3.40%

2021 saw Credit Union Of Georgia place emphasis on $100,000 or less loans with 280 originations, totaling $13,170,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 184 $28,930,000 $157,228 $56 3.38%
$50k-75k 139 $18,655,000 $134,209 $114 3.40%
$75k-100k 136 $21,220,000 $156,029 $74 3.32%
$150k-250k 132 $27,160,000 $205,758 $87 3.34%
$50k or less 75 $8,475,000 $113,000 $100 3.20%
$250k+ 21 $6,685,000 $318,333 $171 3.38%

Credit Union Of Georgia lent most frequently to those with incomes in the $100k-150k range, with 184 originations. The second most popular income band? $50k-75k, with 139 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 206 $33,480,000 $162,524 $86 3.31%
30-36% 137 $22,165,000 $161,788 $52 3.37%
<20% 112 $16,330,000 $145,804 $99 3.19%
38% 25 $3,395,000 $135,800 $49 3.68%
43% 21 $3,595,000 $171,190 $59 3.27%
45% 21 $4,335,000 $206,429 $0 3.11%
40% 21 $4,245,000 $202,143 $0 3.40%
44% 21 $4,045,000 $192,619 $61 3.66%
36% 18 $2,350,000 $130,556 $44 3.65%
37% 17 $3,485,000 $205,000 $157 3.22%
42% 16 $2,590,000 $161,875 $66 3.58%
50-60% 15 $965,000 $64,333 $43 3.87%
41% 14 $3,070,000 $219,286 $2,272 3.22%
39% 13 $2,015,000 $155,000 $0 3.29%
46% 11 $2,265,000 $205,909 $58 3.34%
48% 7 $1,035,000 $147,857 $0 3.47%
49% 7 $1,105,000 $157,857 $0 3.17%
47% 5 $725,000 $145,000 $259 3.51%
>60% 1 $15,000 $15,000 $0 3.29%

Credit Union Of Georgia lent most frequently to those with DTI ratios of 20-30%, with 206 originations. The next most common DTI ratio? 30-36%, with 137 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 546 $93,130,000 $170,568 $70 3.28%
Black 73 $11,295,000 $154,726 $195 3.50%
Not provided 54 $3,970,000 $73,519 $63 3.92%
Asian 10 $1,960,000 $196,000 $0 2.97%
American Indian 3 $575,000 $191,667 $175 2.93%
Asian Indian 2 $280,000 $140,000 $350 3.71%

Approval Rates

Total approvals of all applications
88.99%

Credit Union Of Georgia has an average approval rate.

Pick Rate

Approvals leading to origination
87.15%

Credit Union Of Georgia has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 688 $111,210,000 $161,642

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
688 $111,210,000 $161,642

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 102 $11,870,000 $116,373 $101 3.56%
40-60% 115 $21,575,000 $187,609 $85 2.95%
60-80% 167 $46,115,000 $276,138 $583 3.00%
80-100% 70 $21,310,000 $304,429 $915 3.02%
Under 20% 234 $10,340,000 $44,188 $55 3.80%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Credit Union Mortgage Association, Inc. Conventional home mortgage Trouble during payment process 1 100.0%