Credit Union Of Georgia Mortgage Rates, Fees & Info
Woodstock, GALEI: 549300STHIK6SGJQIY70
Tax ID: 58-6034116
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
688Origination Dollar Volume (All Markets)
$111,210,000Relative 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 applications88.99%
Credit Union Of Georgia has an average approval rate.
Pick Rate
Approvals leading to origination87.15%
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% |
