Community South Credit Union Mortgage Rates, Fees & Info

Chipley, FL

LEI: 9845003EDC545AF61498

Tax ID: 59-0968187

5 stars - Updated: 11/22/24 - out of 5 stars, based on 6 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Community South Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Community South Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Tallahassee, Panama City, Crestview, and Gadsden among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Community South 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. Community South Credit Union is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

    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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    Originations

    41

    Origination Dollar Volume (All Markets)

    $7,775,000

    Awards

    Community South Credit Union 30 Year Conventional Loans gold Community South Credit Union 30 Year Conventional Loans gold
    Show all (2) awards

    Relative Rate

    Community South Credit Union's average 30 year fixed mortgage rate was 6%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.48%.

    Relative Fees (Closing Costs)

    Community South Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,922.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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
    Outside of Metro Areas 34 $6,370,000 $187,353 $5,216 7.04%
    TALLAHASSEE, FL (FHA|USDA|VA) 2 $610,000 $305,000 $10,416 6.81%
    PANAMA CITY, FL (FHA|USDA|VA) 3 $465,000 $155,000 $4,253 6.25%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $275,000 $275,000 $1,405 7.88%
    GADSDEN, AL (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.00%
    Community South Credit Union's top markets include Tallahassee, Panama City, Crestview, and Gadsden among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 31 $6,845,000 $220,806 $5,102 6.48%
    HELOC 9 $715,000 $79,444 n/a 8.83%
    USDA 1 $215,000 $215,000 $8,086 7.38%

    For 2023, Community South Credit Union's most frequently originated type of loan was Conventional, with 31 originations. Their 2nd most popular type was HELOC, with 9 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 23 $3,505,000 $152,391 $4,253 7.53%
    Home Purchase 7 $1,155,000 $165,000 $4,278 6.70%
    Refi 7 $1,775,000 $253,571 $6,152 6.14%
    Other 4 $1,340,000 $335,000 $8,691 6.13%

    For 2023, Community South Credit Union's most frequently cited loan purpose was Cash Out Refi, with 23 originations. The 2nd most popular reason was Home Purchase, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 18 $4,830,000 $268,333 $5,922 6.00%
    20 Year 10 $780,000 $78,000 $2,916 8.70%
    10 Year 5 $215,000 $43,000 $1,652 8.40%
    1 Year 4 $1,340,000 $335,000 $8,691 6.13%
    15 Year 3 $445,000 $148,333 $2,529 6.54%
    Other 1 $165,000 $165,000 $3,568 6.50%

    For 2023, Community South Credit Union's most frequently cited loan duration was 30 Year, with 18 originations. The 2nd most popular length was 20 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 6 $220,000 $36,667
    $1k-2k 5 $615,000 $123,000
    $2k-3k 5 $945,000 $189,000
    $5k+ 5 $2,325,000 $465,000
    $3k-4k 3 $925,000 $308,333
    $4k-5k 3 $1,035,000 $345,000

    Community South Credit Union's average total fees were $5,922, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 6 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 11 $2,865,000 $260,455
    4-5% 10 $2,800,000 $280,000
    Over 8% 10 $620,000 $62,000
    7-8% 9 $1,465,000 $162,778
    5-6% 1 $25,000 $25,000

    During 2023, Community South Credit Union's average interest rate for loans was 6.00%, while their most frequently originated rate bucket for loans was 6-7%, with 11 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 14 $730,000 $52,143 $1,811 8.38%
    $200k-400k 12 $3,500,000 $291,667 $6,991 6.20%
    $100k-200k 11 $1,485,000 $135,000 $3,714 6.73%
    $400k-600k 4 $2,060,000 $515,000 $9,540 5.50%

    2023 saw Community South Credit Union place emphasis on $100,000 or less loans with 14 originations, totaling $730,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 13 $3,015,000 $231,923 $7,015 6.73%
    $75k-100k 9 $725,000 $80,556 $3,137 8.07%
    $50k-75k 8 $980,000 $122,500 $3,642 6.66%
    $150k-250k 7 $2,525,000 $360,714 $7,744 6.29%
    $50k or less 3 $185,000 $61,667 $1,913 8.00%
    $250k+ 1 $345,000 $345,000 $6,791 6.25%

    Community South Credit Union lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $75k-100k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 7 $1,355,000 $193,571 $6,276 6.68%
    50-60% 5 $1,305,000 $261,000 $7,393 6.95%
    <20% 5 $605,000 $121,000 $4,030 7.55%
    46% 3 $325,000 $108,333 $4,092 9.17%
    44% 3 $375,000 $125,000 $3,483 5.75%
    40% 3 $795,000 $265,000 $7,031 8.25%
    20-30% 3 $505,000 $168,333 $2,204 7.96%
    36% 3 $715,000 $238,333 $6,728 7.13%
    >60% 2 $280,000 $140,000 $4,938 7.00%
    41% 1 $255,000 $255,000 $5,236 4.50%
    45% 1 $105,000 $105,000 $2,011 6.50%
    39% 1 $215,000 $215,000 $8,086 7.38%
    47% 1 $415,000 $415,000 $7,321 6.25%
    48% 1 $135,000 $135,000 $3,047 4.50%
    38% 1 $25,000 $25,000 $1,534 6.00%
    37% 1 $365,000 $365,000 $6,571 4.50%

    Community South Credit Union lent most frequently to those with DTI ratios of 30-36%, with 7 originations. The next most common DTI ratio? 50-60%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 39 $7,595,000 $194,744 $5,199 6.85%
    American Indian 2 $180,000 $90,000 $0 10.25%

    Approval Rates

    Total approvals of all applications
    84.42%

    Community South Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    41.46%

    Community South 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
    NA 41 $7,775,000 $189,634

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    41 $7,775,000 $189,634

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $470,000 $78,333 $2,916 8.88%
    40-60% 8 $1,610,000 $201,250 $4,759 6.20%
    60-80% 10 $2,240,000 $224,000 $4,990 6.76%
    80-100% 13 $3,265,000 $251,154 $6,132 6.13%
    Under 20% 4 $190,000 $47,500 $1,674 9.38%