Eglin Federal Credit Union Mortgage Rates, Fees & Info

Fort Walton Beach, FL

LEI: 254900ZHQ3HT9DN8GB42

Tax ID: 59-0724728

5 stars - Updated: 11/17/24 - out of 5 stars, based on 15 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Eglin Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Eglin Federal Credit Union has a high proportion of conventional loans. Their top two markets are Crestview and Pensacola .

    Eglin Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Eglin 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 relatively high 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
    30 Year Conventional Purchase 6.27% 11/17/24
    30 Year Conventional Refi 6.27% 11/17/24
    15 Year Conventional Purchase 5.68% 11/17/24
    15 Year Conventional Refi 5.68% 11/17/24
    15 Year Cash-out Refi 5.68% 11/17/24
    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.

    Eglin 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 Eglin 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

    235

    Origination Dollar Volume (All Markets)

    $23,635,000

    Awards

    Eglin Federal Credit Union 30 Year Conventional Loans gold Eglin Federal Credit Union 30 Year Conventional Loans silver
    Show all (2) awards

    Relative Rate

    Eglin Federal Credit Union's average 30 year fixed mortgage rate was 6.74%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.26%.

    Relative Fees (Closing Costs)

    Eglin Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,884.

    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 $9,089.

    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
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 194 $19,330,000 $99,639 $2,816 6.66%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 41 $4,305,000 $105,000 $1,649 6.63%
    Eglin Federal Credit Union's top markets include Crestview and Pensacola among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Eglin Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Eglin Federal Credit Union
    Similarity Rank: 74
    Gulf Winds Credit Union
    Similarity Rank: 80
    MORTGAGE ONE OF THE SOUTH, INC.
    Similarity Rank: 135
    HARVESTERS FEDERAL CREDIT UNION
    Similarity Rank: 504
    Pen Air Federal Credit Union
    Similarity Rank: 741
    DSLD MORTGAGE, LLC
    Similarity Rank: 954
    HOMETRUST MORTGAGE COMPANY
    Similarity Rank: 1400
    INSPIRE HOME LOANS INC.
    Similarity Rank: 1768
    HOMESTAR FINANCIAL CORPORATION
    Similarity Rank: 2618
    RESOURCE FINANCIAL SERVICES, INC.
    Similarity Rank: 2912

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 235 $23,635,000 $100,574 $2,693 6.65%

    For 2023, Eglin Federal Credit Union's most frequently originated type of loan was Conventional, with 235 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 211 $17,655,000 $83,673 $2,767 6.52%
    Home Purchase 24 $5,980,000 $249,167 $2,650 6.74%

    For 2023, Eglin Federal Credit Union's most frequently cited loan purpose was Refi, with 211 originations. The 2nd most popular reason was Home Purchase, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 196 $13,830,000 $70,561 $0 0.00%
    30 Year 31 $8,885,000 $286,613 $2,884 6.74%
    15 Year 7 $875,000 $125,000 $1,924 6.27%
    20 Year 1 $45,000 $45,000 $1,374 6.63%

    For 2023, Eglin Federal Credit Union's most frequently cited loan duration was Other, with 196 originations. The 2nd most popular length was 30 Year, with 31 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 6 $2,000,000 $333,333

    Eglin Federal Credit Union's average total fees were $2,884, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 6 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 35 $8,615,000 $246,143
    5-6% 2 $330,000 $165,000
    7-8% 2 $860,000 $430,000

    During 2023, Eglin Federal Credit Union's average interest rate for loans was 6.74%, while their most frequently originated rate bucket for loans was 6-7%, with 35 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 162 $8,840,000 $54,568 $1,292 6.40%
    $100k-200k 44 $5,720,000 $130,000 $1,952 6.61%
    $200k-400k 24 $6,470,000 $269,583 $2,892 6.73%
    $400k-600k 4 $1,880,000 $470,000 $4,003 6.72%
    $600k-1MM 1 $725,000 $725,000 $5,460 6.75%

    2023 saw Eglin Federal Credit Union place emphasis on $100,000 or less loans with 162 originations, totaling $8,840,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 59 $5,955,000 $100,932 $3,363 6.64%
    $75k-100k 52 $5,200,000 $100,000 $2,717 6.56%
    $50k-75k 49 $3,735,000 $76,224 $2,114 6.70%
    $150k-250k 40 $6,100,000 $152,500 $3,410 6.56%
    $50k or less 26 $1,050,000 $40,385 $1,410 6.66%
    $250k+ 9 $1,595,000 $177,222 $3,546 7.19%

    Eglin Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 59 originations. The second most popular income band? $75k-100k, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 10 $2,140,000 $214,000 $2,606 6.89%
    30-36% 5 $1,495,000 $299,000 $2,997 6.73%
    48% 4 $930,000 $232,500 $2,115 6.72%
    50-60% 4 $1,040,000 $260,000 $2,506 6.72%
    <20% 3 $435,000 $145,000 $1,139 6.13%
    42% 2 $350,000 $175,000 $2,689 6.63%
    36% 2 $390,000 $195,000 $2,807 6.56%
    41% 1 $455,000 $455,000 $4,860 6.50%
    43% 1 $455,000 $455,000 $4,830 7.00%
    38% 1 $285,000 $285,000 $2,540 6.88%
    47% 1 $205,000 $205,000 $2,624 6.63%
    37% 1 $305,000 $305,000 $3,215 6.88%
    49% 1 $505,000 $505,000 $3,269 6.25%
    44% 1 $355,000 $355,000 $2,698 6.88%
    40% 1 $395,000 $395,000 $4,350 6.25%

    Eglin Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? 30-36%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 206 $16,530,000 $80,243 $2,926 6.54%
    White 26 $6,540,000 $251,538 $2,642 6.72%
    Asian 3 $565,000 $188,333 $2,438 6.46%

    Approval Rates

    Total approvals of all applications
    94.50%

    Eglin Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    68.51%

    Eglin 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 235 $23,635,000 $100,574

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    235 $23,635,000 $100,574

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $700,000 $175,000 $2,347 6.59%
    40-60% 9 $2,555,000 $283,889 $2,939 6.60%
    60-80% 12 $3,300,000 $275,000 $2,411 6.76%
    80-100% 10 $3,010,000 $301,000 $3,242 6.73%
    Under 20% 3 $175,000 $58,333 $1,710 6.71%