Dade County Federal Credit Union Mortgage Rates, Fees & InfoSweetwater, FL
Tax ID: 59-0684192
Review & OverviewDade County Federal Credit Union is a smaller credit union specializing in 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 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. Dade County Federal 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 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||7.00%||12/4/22|
|30 Year Conventional Refi||6.74%||12/4/22|
|15 Year Conventional Purchase||5.76%||12/4/22|
|15 Year Conventional Refi||6.15%||12/4/22|
|15 Year Cash-out Refi||6.15%||12/4/22|
|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.|
Origination Dollar Volume (All Markets)$28,190,000
Dade County Federal Credit Union's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.14%.
Relative Fees (Closing Costs)
Dade County Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,244.
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.
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)||90||$28,190,000||$313,222||$4,056||2.89%|
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.
Similarity Rank: 167
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Dade County Federal Credit Union's most frequently originated type of loan was Conventional, with 90 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Dade County Federal Credit Union's most frequently cited loan purpose was Refi, with 84 originations. The 2nd most popular reason was Home Purchase, with 6 originations.
For 2021, Dade County Federal Credit Union's most frequently cited loan duration was 30 Year, with 49 originations. The 2nd most popular length was 20 Year, with 25 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Dade County Federal Credit Union's average total fees were $4,244, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 30 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, Dade County Federal Credit Union's average interest rate for loans was 3.01%, while their most frequently originated rate bucket for loans was 2.5-3%, with 63 originations.
2021 saw Dade County Federal Credit Union place emphasis on $200k-400k loans with 49 originations, totaling $13,485,000 in origination value.
Dade County Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 26 originations. The second most popular income band? $75k-100k, with 25 originations.
Applicant Debt to Income Ratio
Dade County Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 19 originations.
|Applicant Ethnicity||Originations||Total Value||Average Loan||Average Fees||Average Rate|
Approval RatesTotal approvals of all applications
Dade County Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick RateApprovals leading to origination
Dade County 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|