Dade County Federal Credit Union Mortgage Rates, Fees & Info
Sweetwater, FLLEI: 254900EL5N0NK8M96118
Tax ID: 59-0684192
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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. 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.53% | 4/21/24 |
| 30 Year Conventional Refi | 6.57% | 4/21/24 |
| 15 Year Conventional Refi | 6.03% | 4/21/24 |
| 15 Year Cash-out Refi | 6.03% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
52Origination Dollar Volume (All Markets)
$11,290,000Top 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 |
|---|---|---|---|---|---|
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 52 | $11,290,000 | $217,115 | $0 | 4.28% |
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.
Similarity Rank: 312
Similarity Rank: 392
Similarity Rank: 432
Similarity Rank: 836
Similarity Rank: 912
Similarity Rank: 948
Similarity Rank: 1014
Similarity Rank: 1275
Similarity Rank: 1938
Similarity Rank: 2275
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 50 | $10,700,000 | $214,000 | $0 | 4.27% |
| HELOC | 2 | $590,000 | $295,000 | n/a | 4.57% |
For 2018, Dade County Federal Credit Union's most frequently originated type of loan was Conventional, with 50 originations. Their 2nd most popular type was HELOC, with 2 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 30 | $6,200,000 | $206,667 | $0 | 4.20% |
| Home Purchase | 11 | $3,185,000 | $289,545 | $0 | 4.39% |
| Cash Out Refi | 11 | $1,905,000 | $173,182 | $0 | 4.39% |
For 2018, Dade County Federal Credit Union's most frequently cited loan purpose was Refi, with 30 originations. The 2nd most popular reason was Home Purchase, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 42 | $9,750,000 | $232,143 | $0 | 4.38% |
| 15 Year | 10 | $1,540,000 | $154,000 | $0 | 3.85% |
For 2018, Dade County Federal Credit Union's most frequently cited loan duration was 30 Year, with 42 originations. The 2nd most popular length was 15 Year, with 10 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 8 | $1,860,000 | $232,500 |
Dade County Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 8 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 40 | $9,190,000 | $229,750 |
| 3-4% | 12 | $2,100,000 | $175,000 |
During 2018, Dade County Federal Credit Union's average interest rate for loans was 4.38%, while their most frequently originated rate bucket for loans was 4-5%, with 40 originations.
Loan Sizing
2018 saw Dade County Federal Credit Union place emphasis on $200k-400k loans with 26 originations, totaling $7,610,000 in origination value.
Applicant Income
Dade County Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 15 originations. The second most popular income band? $100k-150k, with 13 originations.
Applicant Debt to Income Ratio
Dade County Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 13 originations. The next most common DTI ratio? 20-30%, with 9 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.71%
Dade County Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination69.23%
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 |
|---|---|---|---|
| 106.16 | 1 | $105,000 | $105,000 |
| 1097.09 | 1 | $135,000 | $135,000 |
| 1098.36 | 1 | $245,000 | $245,000 |
| 118.9 | 1 | $85,000 | $85,000 |
| 1252.05 | 1 | $205,000 | $205,000 |
| 1273.42 | 1 | $165,000 | $165,000 |
| 1289.04 | 1 | $155,000 | $155,000 |
| 132.45 | 1 | $65,000 | $65,000 |
| 1330.41 | 1 | $225,000 | $225,000 |
| 1417.53 | 1 | $325,000 | $325,000 |
| 15.0 | 1 | $75,000 | $75,000 |
| 1559.45 | 1 | $265,000 | $265,000 |
| 162.25 | 1 | $95,000 | $95,000 |
| 1626.38 | 1 | $395,000 | $395,000 |
| 164.81 | 1 | $275,000 | $275,000 |
| 177.53 | 1 | $365,000 | $365,000 |
| 1801.93 | 1 | $385,000 | $385,000 |
| 188.9 | 1 | $195,000 | $195,000 |
| 1901.44 | 1 | $335,000 | $335,000 |
| 1970.11 | 1 | $385,000 | $385,000 |
| 22.77 | 1 | $195,000 | $195,000 |
| 237.33 | 1 | $185,000 | $185,000 |
| 245.57 | 1 | $325,000 | $325,000 |
| 257.98 | 1 | $135,000 | $135,000 |
| 264.74 | 1 | $95,000 | $95,000 |
| 26.54 | 1 | $255,000 | $255,000 |
| 26.63 | 1 | $215,000 | $215,000 |
| 268.49 | 1 | $145,000 | $145,000 |
| 280.55 | 1 | $125,000 | $125,000 |
| 281.97 | 1 | $335,000 | $335,000 |
| 318.36 | 1 | $335,000 | $335,000 |
| 323.63 | 1 | $155,000 | $155,000 |
| 333.34 | 1 | $155,000 | $155,000 |
| 334.42 | 1 | $95,000 | $95,000 |
| 335.62 | 1 | $175,000 | $175,000 |
| 353.71 | 1 | $455,000 | $455,000 |
| 405.38 | 1 | $175,000 | $175,000 |
| 434.96 | 1 | $205,000 | $205,000 |
| 451.49 | 1 | $235,000 | $235,000 |
| 46.75 | 1 | $135,000 | $135,000 |
| 47.77 | 1 | $95,000 | $95,000 |
| 488.25 | 1 | $295,000 | $295,000 |
| 56.58 | 1 | $235,000 | $235,000 |
| 57.33 | 1 | $65,000 | $65,000 |
| 577.32 | 1 | $165,000 | $165,000 |
| 614.9 | 1 | $275,000 | $275,000 |
| 79.18 | 1 | $345,000 | $345,000 |
| 855.82 | 1 | $345,000 | $345,000 |
| 865.21 | 1 | $275,000 | $275,000 |
| 86664.93 | 1 | $325,000 | $325,000 |
| 87.31 | 1 | $205,000 | $205,000 |
| 942.52 | 1 | $55,000 | $55,000 |