Mccoy Federal Credit Union Mortgage Rates, Fees & Info
Orlando, FLLEI: 2549005T4NUXGTZTUE50
Tax ID: 59-0772729
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Mccoy Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Mccoy Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Orlando, Lakeland, Jacksonville, Deltona, and Palm Bay among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Mccoy Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
227Origination Dollar Volume (All Markets)
$31,715,000Top 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 |
|---|---|---|---|---|---|
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 190 | $28,060,000 | $147,684 | $0 | 0.00% |
| Outside of Metro Areas | 29 | $2,705,000 | $93,276 | $0 | 0.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $0 | 0.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $0 | 0.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against McCoy Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 227 | $31,715,000 | $139,714 | $0 | 0.00% |
For 2020, Mccoy Federal Credit Union's most frequently originated type of loan was Conventional, with 227 originations.
Loan Reason
For 2020, Mccoy Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 134 originations. The 2nd most popular reason was Refi, with 58 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 227 | $31,715,000 | $139,714 | $0 | 0.00% |
For 2020, Mccoy Federal Credit Union's most frequently cited loan duration was Other, with 227 originations.
Loan Sizing
2020 saw Mccoy Federal Credit Union place emphasis on $100,000 or less loans with 102 originations, totaling $6,230,000 in origination value.
Applicant Income
Mccoy Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 50 originations. The second most popular income band? $50k-75k, with 42 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 227 | $31,715,000 | $139,714 | $0 | 0.00% |
Mccoy Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 227 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications61.09%
Mccoy Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination63.44%
Mccoy Federal 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 |
|---|---|---|---|
| Exempt | 227 | $31,715,000 | $139,714 |