Community South Credit Union Mortgage Rates, Fees & Info
Chipley, FLLEI: 9845003EDC545AF61498
Tax ID: 59-0968187
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Mortgage Data
Review & Overview
Community South Credit Union is a smaller credit union specializing in Home Purchase, Refi, and Cash Out Refi loans. Community South Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Tallahassee, Crestview, and Panama City among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Community South Credit Union has an above average approval rate when compared to the average across all lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.72% | 4/17/25 |
| 30 Year Conventional Purchase | 6.12% | 4/17/25 |
| 30 Year Conventional Refi | 7.19% | 4/17/25 |
| 30 Year Cash-out Refi | 6.14% | 4/17/25 |
| 30 Year FHA Purchase | 6.72% | 4/17/25 |
| 30 Year FHA Refi | 6.72% | 4/17/25 |
| 30 Year USDA Purchase | 6.72% | 4/17/25 |
| 15 Year Conventional Purchase | 6.00% | 4/17/25 |
| 15 Year Conventional Refi | 15.82% | 4/17/25 |
| 15 Year Cash-out Refi | 15.82% | 4/17/25 |
| 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. | ||
Community South Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
81Origination Dollar Volume (All Markets)
$13,425,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 64 | $10,530,000 | $164,531 | $0 | 0.00% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 7 | $1,625,000 | $232,143 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 5 | $665,000 | $133,000 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 5 | $605,000 | $121,000 | $0 | 0.00% |
Product Mix
For 2021, Community South Credit Union's most frequently originated type of loan was Conventional, with 66 originations. Their 2nd most popular type was USDA, with 9 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 35 | $3,745,000 | $107,000 | $0 | 0.00% |
| Refi | 28 | $6,830,000 | $243,929 | $0 | 0.00% |
| Cash Out Refi | 18 | $2,850,000 | $158,333 | $0 | 0.00% |
For 2021, Community South Credit Union's most frequently cited loan purpose was Home Purchase, with 35 originations. The 2nd most popular reason was Refi, with 28 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 81 | $13,425,000 | $165,741 | $0 | 0.00% |
For 2021, Community South Credit Union's most frequently cited loan duration was Other, with 81 originations.
Loan Sizing
2021 saw Community South Credit Union place emphasis on $100,000 or less loans with 29 originations, totaling $1,545,000 in origination value.
Applicant Income
Community South Credit Union lent most frequently to those with incomes in the $50k-75k range, with 24 originations. The second most popular income band? $75k-100k, with 23 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 81 | $13,425,000 | $165,741 | $0 | 0.00% |
Community South Credit Union lent most frequently to those with DTI ratios of Exempt%, with 81 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Community South Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 81 | $13,425,000 | $165,741 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMMUNITY MORTGAGE CORPORATION | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |