Dade County Federal Credit Union Mortgage Rates, Fees & Info

Sweetwater, FL

LEI: 254900EL5N0NK8M96118

Tax ID: 59-0684192

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Dade County Federal Credit Union is a smaller credit union specializing in Refi 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.72% 6/22/25
    30 Year Conventional Purchase 3.82% 6/22/25
    30 Year Conventional Refi 6.93% 6/22/25
    30 Year Cash-out Refi 6.40% 6/22/25
    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.

    Dade County Federal Credit Union Mortgage Calculator






    Your Estimates

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    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

    58

    Origination Dollar Volume (All Markets)

    $15,020,000

    Awards

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

    Top Markets

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    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) 58 $15,020,000 $258,966 $2,960 3.31%
    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: 304
    We Florida Financial
    Similarity Rank: 638
    POWER FINANCIAL
    Similarity Rank: 870
    Florida Home Trust Mortgage, Inc.
    Similarity Rank: 2127
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2268
    MIAMI FIREFIGHTERS FCU
    Similarity Rank: 2646
    Chicago Financial Services, Inc.
    Similarity Rank: 2736
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 2976
    GET A RATE LLC
    Similarity Rank: 3094
    CROSSFIRE FINANCIAL NETWORK, INC.
    Similarity Rank: 3135

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 58 $15,020,000 $258,966 $2,960 3.31%

    For 2020, Dade County Federal Credit Union's most frequently originated type of loan was Conventional, with 58 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 51 $12,985,000 $254,608 $2,978 3.28%
    Home Purchase 7 $2,035,000 $290,714 $2,831 3.50%

    For 2020, Dade County Federal Credit Union's most frequently cited loan purpose was Refi, with 51 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 43 $12,115,000 $281,744 $3,076 3.39%
    15 Year 10 $1,710,000 $171,000 $2,694 2.89%
    20 Year 2 $240,000 $120,000 $2,613 2.63%
    5 Year 2 $830,000 $415,000 $0 4.50%
    10 Year 1 $125,000 $125,000 $1,326 3.13%

    For 2020, Dade County Federal Credit Union's most frequently cited loan duration was 30 Year, with 43 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 31 $8,475,000 $273,387
    $1k-2k 8 $1,120,000 $140,000
    $2k-3k 5 $1,165,000 $233,000
    $3k-4k 3 $975,000 $325,000
    $4k-5k 2 $780,000 $390,000

    Dade County Federal Credit Union's average total fees were $3,076, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 31 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 42 $11,570,000 $275,476
    2.5-3% 14 $2,620,000 $187,143
    4-5% 2 $830,000 $415,000

    During 2020, Dade County Federal Credit Union's average interest rate for loans was 3.39%, while their most frequently originated rate bucket for loans was 3-4%, with 42 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 36 $10,040,000 $278,889 $3,029 3.39%
    $100k-200k 16 $2,460,000 $153,750 $2,392 3.08%
    $400k-600k 5 $2,425,000 $485,000 $4,935 3.63%
    $100,000 or less 1 $95,000 $95,000 $1,712 2.63%

    2020 saw Dade County Federal Credit Union place emphasis on $200k-400k loans with 36 originations, totaling $10,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 17 $4,555,000 $267,941 $3,191 3.21%
    $50k-75k 16 $2,880,000 $180,000 $2,429 3.24%
    $75k-100k 13 $3,525,000 $271,154 $2,698 3.34%
    $150k-250k 9 $2,995,000 $332,778 $3,861 3.28%
    $50k or less 1 $235,000 $235,000 $2,815 3.63%

    Dade County Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 17 originations. The second most popular income band? $50k-75k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 13 $2,965,000 $228,077 $2,919 3.24%
    20-30% 8 $1,790,000 $223,750 $3,067 3.19%
    44% 7 $1,635,000 $233,571 $3,213 3.25%
    41% 5 $1,405,000 $281,000 $2,641 3.48%
    38% 3 $935,000 $311,667 $2,623 3.25%
    37% 3 $575,000 $191,667 $3,251 3.29%
    42% 3 $835,000 $278,333 $2,925 3.42%
    43% 3 $1,095,000 $365,000 $2,770 3.54%
    36% 3 $475,000 $158,333 $2,717 2.83%
    46% 2 $590,000 $295,000 $3,441 3.31%
    39% 2 $790,000 $395,000 $4,888 3.44%
    40% 2 $440,000 $220,000 $2,539 3.00%
    48% 1 $295,000 $295,000 $2,965 3.25%
    45% 1 $365,000 $365,000 $0 3.50%

    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 8 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 39 $10,755,000 $275,769 $3,067 3.28%
    Black 17 $3,435,000 $202,059 $2,714 3.25%
    Not applicable 2 $830,000 $415,000 $0 4.50%

    Approval Rates

    Total approvals of all applications
    79.46%

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

    Pick Rate

    Approvals leading to origination
    46.55%

    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
    NA 58 $15,020,000 $258,966

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 58 $15,020,000 $258,966

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $1,425,000 $158,333 $1,986 2.88%
    40-60% 7 $1,655,000 $236,429 $2,663 3.36%
    60-80% 28 $7,820,000 $279,286 $3,161 3.40%
    80-100% 14 $4,120,000 $294,286 $3,325 3.38%