Fort Financial Federal Credit Union Mortgage Rates, Fees & Info
Fort Wayne, INLEI: 54930027H7CJF9GCDZ36
Tax ID: 35-0868966
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Mortgage Data
Review & Overview
Fort Financial Federal Credit Union is a smaller credit union specializing in Home Improvement and Other loans. Fort Financial Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Fort Wayne, Auburn, Kendallville, Charlotte, and Corinth among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Fort Financial 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.
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 | 6.85% | 5/4/24 |
| 30 Year Conventional Refi | 6.83% | 5/4/24 |
| 30 Year Cash-out Refi | 7.02% | 5/4/24 |
| 30 Year FHA Purchase | 6.27% | 5/4/24 |
| 30 Year VA Purchase | 6.27% | 5/4/24 |
| 30 Year USDA Purchase | 6.27% | 5/4/24 |
| 30 Year USDA Refi | 6.27% | 5/4/24 |
| 15 Year Conventional Purchase | 7.31% | 5/4/24 |
| 15 Year Conventional Refi | 8.31% | 5/4/24 |
| 15 Year Cash-out Refi | 8.31% | 5/4/24 |
| 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. | ||
Fort Financial 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
161Origination Dollar Volume (All Markets)
$5,975,000Top 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 |
|---|---|---|---|---|---|
| FORT WAYNE, IN (FHA|USDA|VA) | 85 | $2,745,000 | $32,294 | $414 | 6.71% |
| Auburn, IN (FHA|USDA|VA) | 30 | $1,100,000 | $36,667 | $436 | 7.09% |
| Kendallville, IN (FHA|USDA|VA) | 11 | $645,000 | $58,636 | $456 | 6.31% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 12 | $410,000 | $34,167 | $389 | 8.20% |
| Outside of Metro Areas | 4 | $340,000 | $85,000 | $624 | 6.49% |
| Corinth, MS (FHA|USDA|VA) | 8 | $250,000 | $31,250 | $376 | 6.77% |
| Warsaw, IN (FHA|USDA|VA) | 3 | $135,000 | $45,000 | $585 | 5.49% |
| Angola, IN (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $606 | 8.24% |
| Huntington, IN (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $539 | 6.49% |
| Tupelo, MS (FHA|USDA|VA) | 3 | $85,000 | $28,333 | $335 | 6.49% |
| Bluffton, IN (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $257 | 4.49% |
Similar Lenders
We use machine learning to identify the top lenders compared against FORT FINANCIAL Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 161 | $5,975,000 | $37,112 | $427 | 6.84% |
For 2019, Fort Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 161 originations.
Loan Reason
For 2019, Fort Financial Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 70 originations. The 2nd most popular reason was Other, with 58 originations.
Loan Duration/Length
For 2019, Fort Financial Federal Credit Union's most frequently cited loan duration was 15 Year, with 61 originations. The 2nd most popular length was 10 Year, with 47 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 54 | $2,060,000 | $38,148 |
| 6-7% | 54 | $2,040,000 | $37,778 |
| Over 8% | 23 | $785,000 | $34,130 |
| 7-8% | 21 | $805,000 | $38,333 |
| 4-5% | 9 | $285,000 | $31,667 |
During 2019, Fort Financial Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 54 originations.
Loan Sizing
2019 saw Fort Financial Federal Credit Union place emphasis on $100,000 or less loans with 158 originations, totaling $5,450,000 in origination value.
Applicant Income
Fort Financial Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 73 originations. The second most popular income band? $50k-75k, with 42 originations.
Applicant Debt to Income Ratio
Fort Financial Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 47 originations. The next most common DTI ratio? 20-30%, with 44 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.02%
Fort Financial Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination81.37%
Fort Financial Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 161 | $5,975,000 | $37,112 |