Community South Credit Union Mortgage Rates, Fees & Info
Chipley, FLLEI: 9845003EDC545AF61498
Tax ID: 59-0968187
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
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 a low 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 about average 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
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
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Community South Credit Union. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
41Origination Dollar Volume (All Markets)
$7,775,000Awards
Community South Credit Union - 2023
Community South Credit Union is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
Work for Community South Credit Union?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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% |
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
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
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
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
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
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
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 applications84.42%
Community South Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination41.46%
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 |