Dade County Federal Credit Union Mortgage Rates, Fees & Info

Sweetwater, FL

LEI: 254900EL5N0NK8M96118

Tax ID: 59-0684192

5 stars - Updated: 2/19/24 - out of 5 stars, based on 5 reviews

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

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Mortgage Data

Review & Overview

Dade County Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Dade County Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Miami.

Dade County Federal 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. Dade County Federal 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
30 Year Conventional Purchase 6.53% 2/19/24
30 Year Conventional Refi 6.57% 2/19/24
15 Year Conventional Refi 6.03% 2/19/24
15 Year Cash-out Refi 6.03% 2/19/24
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.

Dade County Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Dade County Federal 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

27

Origination Dollar Volume (All Markets)

$7,575,000

Awards

DADE COUNTY FEDERAL CREDIT UNION 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

Dade County Federal Credit Union's average 30 year fixed mortgage rate was 4.46%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.3%.

Relative Fees (Closing Costs)

Dade County Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,883.

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 $4,750.

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
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 27 $7,575,000 $280,556 $3,586 4.19%
Dade County Federal Credit Union's top markets include and Miami among others.

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

    We use machine learning to identify the top lenders compared against DADE COUNTY FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 167
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 560
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1170
    We Florida Financial
    Similarity Rank: 1416
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    IVY MORTGAGE, INC.
    Similarity Rank: 2242
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    Similarity Rank: 3010
    Auto Club Trust, FSB
    Similarity Rank: 3402
    MIAMI FIREFIGHTERS FCU
    Similarity Rank: 3465
    BANKERS MORTGAGE LENDING, INC.
    Similarity Rank: 3540

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 27 $7,575,000 $280,556 $3,586 4.19%

    For 2022, Dade County Federal Credit Union's most frequently originated type of loan was Conventional, with 27 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 20 $4,710,000 $235,500 $3,098 4.03%
    Home Purchase 7 $2,865,000 $409,286 $4,808 4.63%

    For 2022, Dade County Federal Credit Union's most frequently cited loan purpose was Refi, with 20 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 19 $5,645,000 $297,105 $3,883 4.46%
    15 Year 3 $705,000 $235,000 $3,489 2.88%
    20 Year 3 $695,000 $231,667 $2,942 3.75%
    10 Year 1 $85,000 $85,000 $1,664 3.00%
    5 Year 1 $445,000 $445,000 $0 5.38%

    For 2022, Dade County Federal Credit Union's most frequently cited loan duration was 30 Year, with 19 originations. The 2nd most popular length was 15 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 13 $3,445,000 $265,000
    $2k-3k 7 $1,685,000 $240,714
    $3k-4k 3 $975,000 $325,000
    $4k-5k 2 $860,000 $430,000
    $1k-2k 1 $165,000 $165,000

    Dade County Federal Credit Union's average total fees were $3,883, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 13 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 10 $3,110,000 $311,000
    4-5% 7 $2,055,000 $293,571
    2.5-3% 5 $1,075,000 $215,000
    6-7% 4 $890,000 $222,500
    5-6% 1 $445,000 $445,000

    During 2022, Dade County Federal Credit Union's average interest rate for loans was 4.46%, while their most frequently originated rate bucket for loans was 3-4%, with 10 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 15 $4,155,000 $277,000 $3,710 3.80%
    $100k-200k 4 $680,000 $170,000 $3,925 4.41%
    $400k-600k 4 $1,850,000 $462,500 $3,482 5.13%
    $100,000 or less 3 $245,000 $81,667 $1,072 4.79%
    $600k-1MM 1 $645,000 $645,000 $6,427 3.50%

    2022 saw Dade County Federal Credit Union place emphasis on $200k-400k loans with 15 originations, totaling $4,155,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 9 $2,375,000 $263,889 $2,941 3.64%
    $50k-75k 6 $1,120,000 $186,667 $3,400 4.25%
    $150k-250k 5 $2,215,000 $443,000 $4,032 4.28%
    $75k-100k 4 $1,090,000 $272,500 $4,065 4.31%
    $50k or less 2 $330,000 $165,000 $4,616 5.38%

    Dade County Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $50k-75k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 6 $1,290,000 $215,000 $1,875 4.13%
    30-36% 4 $1,370,000 $342,500 $5,258 3.59%
    42% 3 $775,000 $258,333 $3,630 3.29%
    49% 2 $450,000 $225,000 $7,018 3.88%
    39% 2 $500,000 $250,000 $2,843 3.94%
    44% 2 $600,000 $300,000 $4,326 6.75%
    40% 1 $255,000 $255,000 $2,926 5.00%
    41% 1 $215,000 $215,000 $0 6.38%
    37% 1 $235,000 $235,000 $0 3.38%
    36% 1 $435,000 $435,000 $5,068 4.13%
    45% 1 $285,000 $285,000 $0 3.25%
    38% 1 $385,000 $385,000 $4,968 3.88%
    46% 1 $335,000 $335,000 $4,960 3.50%

    Dade County Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 30-36%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 14 $4,120,000 $294,286 $3,772 4.00%
    Black 12 $3,010,000 $250,833 $3,338 4.30%
    Not applicable 1 $445,000 $445,000 $0 5.38%

    Approval Rates

    Total approvals of all applications
    89.74%

    Dade County Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.37%

    Dade County Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    1820.0 1 $185,000 $185,000
    2176.0 1 $215,000 $215,000
    2820.0 1 $285,000 $285,000
    3010.0 1 $305,000 $305,000
    730.0 1 $75,000 $75,000
    NA 22 $6,510,000 $295,909

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    27 $7,575,000 $280,556

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $875,000 $175,000 $1,072 4.73%
    40-60% 9 $2,105,000 $233,889 $3,557 4.01%
    60-80% 9 $2,855,000 $317,222 $4,187 3.85%
    80-100% 4 $1,740,000 $435,000 $3,851 4.66%