Fort Financial Federal Credit Union Mortgage Rates, Fees & Info

Fort Wayne, IN

LEI: 54930027H7CJF9GCDZ36

Tax ID: 35-0868966

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

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  • 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

    Fort Financial Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Fort Financial Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Fort Wayne, Auburn, Charlotte, Angola, and Kendallville among others. We have data for 23 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. Fort Financial 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
    30 Year Conventional Purchase 6.85% 11/21/24
    30 Year Conventional Refi 6.83% 11/21/24
    30 Year Cash-out Refi 7.02% 11/21/24
    30 Year FHA Purchase 6.27% 11/21/24
    30 Year VA Purchase 6.27% 11/21/24
    30 Year USDA Purchase 6.27% 11/21/24
    30 Year USDA Refi 6.27% 11/21/24
    15 Year Conventional Purchase 7.31% 11/21/24
    15 Year Conventional Refi 8.31% 11/21/24
    15 Year Cash-out Refi 8.31% 11/21/24
    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.

    Fort Financial 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 Fort Financial 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

    327

    Origination Dollar Volume (All Markets)

    $43,215,000

    Awards

    FORT FINANCIAL Federal Credit Union 30 Year Conventional Loans bronze
    Show all (1) awards

    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
    FORT WAYNE, IN (FHA|USDA|VA) 173 $22,845,000 $132,052 $1,893 3.55%
    Auburn, IN (FHA|USDA|VA) 37 $4,305,000 $116,351 $1,993 3.79%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 34 $4,070,000 $119,706 $2,088 3.85%
    Angola, IN (FHA|USDA|VA) 17 $1,765,000 $103,824 $1,861 3.78%
    Kendallville, IN (FHA|USDA|VA) 14 $1,720,000 $122,857 $1,909 3.13%
    Albemarle, NC (FHA|USDA|VA) 2 $1,190,000 $595,000 $4,039 2.31%
    Bluffton, IN (FHA|USDA|VA) 6 $960,000 $160,000 $2,113 3.17%
    Outside of Metro Areas 9 $935,000 $103,889 $1,364 4.83%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 4 $750,000 $187,500 $1,763 3.56%
    Corinth, MS (FHA|USDA|VA) 9 $665,000 $73,889 $1,403 4.19%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $560,000 $280,000 $3,900 2.75%
    Tupelo, MS (FHA|USDA|VA) 1 $485,000 $485,000 $4,114 3.50%
    Huntington, IN (FHA|USDA|VA) 3 $485,000 $161,667 $2,432 2.67%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $480,000 $240,000 $3,296 3.31%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $455,000 $455,000 $3,552 2.75%
    Warsaw, IN (FHA|USDA|VA) 5 $445,000 $89,000 $1,488 3.62%
    ELKHART-GOSHEN, IN (FHA|USDA|VA) 2 $420,000 $210,000 $2,492 3.06%
    Oxford, MS (FHA|USDA|VA) 1 $175,000 $175,000 $2,661 2.50%
    JACKSONVILLE, NC (FHA|USDA|VA) 1 $155,000 $155,000 $3,215 3.13%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $125,000 $125,000 $2,487 3.13%
    Decatur, IN (FHA|USDA|VA) 1 $115,000 $115,000 $2,237 3.38%
    Blytheville, AR (FHA|USDA|VA) 1 $95,000 $95,000 $3,184 3.25%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $15,000 $15,000 $272 3.99%
    Fort Financial Federal Credit Union's top markets include Fort Wayne, Auburn, Charlotte, Angola, and Kendallville among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • 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.

    Fire Police City County Federal Credit Union
    Similarity Rank: 315
    MIDWEST AMERICA
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    ProFed Federal Credit Union
    Similarity Rank: 528
    PARTNERS 1ST Federal Credit Union
    Similarity Rank: 858
    BEACON CREDIT UNION
    Similarity Rank: 1209
    FORT FINANCIAL Federal Credit Union
    Similarity Rank: 1656
    First Federal Savings Bank
    Similarity Rank: 2310
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 2480
    Three Rivers Federal Credit Union
    Similarity Rank: 2508
    STAR Financial Bank
    Similarity Rank: 2814

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 321 $42,565,000 $132,601 $1,923 3.63%
    USDA 6 $650,000 $108,333 $3,626 3.17%

    For 2020, Fort Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 321 originations. Their 2nd most popular type was USDA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 113 $18,025,000 $159,513 $2,511 3.22%
    Home Purchase 85 $11,905,000 $140,059 $2,203 3.74%
    Refi 70 $10,900,000 $155,714 $2,175 3.00%
    Home Improvement 39 $1,585,000 $40,641 $257 4.92%
    Other 20 $800,000 $40,000 $291 4.95%

    For 2020, Fort Financial Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 113 originations. The 2nd most popular reason was Home Purchase, with 85 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 121 $22,085,000 $182,521 $2,664 3.24%
    15 Year 98 $13,330,000 $136,020 $2,102 3.55%
    Other 34 $1,750,000 $51,471 $597 4.63%
    10 Year 33 $1,705,000 $51,667 $561 4.53%
    20 Year 30 $4,000,000 $133,333 $2,317 3.12%
    5 Year 10 $260,000 $26,000 $217 3.92%
    3 Year 1 $85,000 $85,000 $231 2.99%

    For 2020, Fort Financial Federal Credit Union's most frequently cited loan duration was 30 Year, with 121 originations. The 2nd most popular length was 15 Year, with 98 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 233 $38,705,000 $166,116
    $<1k 88 $3,720,000 $42,273
    $2k-3k 4 $340,000 $85,000
    $5k+ 2 $450,000 $225,000

    Fort Financial Federal Credit Union's average total fees were $2,664, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 233 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 128 $16,490,000 $128,828
    2.5-3% 103 $15,865,000 $154,029
    <2.5% 33 $6,825,000 $206,818
    4-5% 30 $2,460,000 $82,000
    5-6% 13 $805,000 $61,923
    Over 8% 8 $260,000 $32,500
    6-7% 6 $220,000 $36,667
    7-8% 6 $290,000 $48,333

    During 2020, Fort Financial Federal Credit Union's average interest rate for loans was 3.24%, while their most frequently originated rate bucket for loans was 3-4%, with 128 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 142 $7,890,000 $55,563 $1,106 4.30%
    $100k-200k 130 $18,380,000 $141,385 $2,477 3.14%
    $200k-400k 44 $11,520,000 $261,818 $2,805 2.97%
    $400k-600k 9 $4,185,000 $465,000 $3,146 2.96%
    $600k-1MM 2 $1,240,000 $620,000 $4,144 2.94%

    2020 saw Fort Financial Federal Credit Union place emphasis on $100,000 or less loans with 142 originations, totaling $7,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 94 $7,570,000 $80,532 $1,521 3.94%
    $50k-75k 78 $8,930,000 $114,487 $2,046 3.62%
    $75k-100k 72 $9,200,000 $127,778 $1,949 3.56%
    $100k-150k 47 $7,885,000 $167,766 $2,283 3.32%
    $150k-250k 26 $6,300,000 $242,308 $2,511 3.25%
    $250k+ 10 $3,330,000 $333,000 $2,356 3.31%

    Fort Financial Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 94 originations. The second most popular income band? $50k-75k, with 78 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 97 $11,985,000 $123,557 $1,982 3.43%
    <20% 92 $10,730,000 $116,630 $1,580 3.60%
    30-36% 58 $8,660,000 $149,310 $2,051 3.73%
    40% 13 $1,575,000 $121,154 $2,093 3.90%
    37% 12 $1,940,000 $161,667 $2,239 4.09%
    44% 9 $1,425,000 $158,333 $2,711 3.78%
    42% 8 $1,110,000 $138,750 $2,795 3.76%
    36% 8 $1,170,000 $146,250 $2,138 3.64%
    47% 5 $765,000 $153,000 $1,835 3.32%
    43% 5 $615,000 $123,000 $3,131 4.25%
    39% 4 $550,000 $137,500 $1,924 3.75%
    38% 4 $490,000 $122,500 $1,804 4.15%
    45% 4 $940,000 $235,000 $2,434 2.84%
    50-60% 2 $490,000 $245,000 $1,363 4.06%
    46% 2 $220,000 $110,000 $1,386 3.56%
    41% 2 $250,000 $125,000 $2,448 3.50%
    49% 1 $185,000 $185,000 $2,441 3.50%
    48% 1 $115,000 $115,000 $2,297 2.75%

    Fort Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 97 originations. The next most common DTI ratio? <20%, with 92 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 259 $32,605,000 $125,888 $1,914 3.60%
    Not provided 42 $7,280,000 $173,333 $2,517 3.01%
    Asian 4 $1,400,000 $350,000 $2,825 3.13%
    Black 16 $1,250,000 $78,125 $966 5.33%
    American Indian 3 $425,000 $141,667 $2,763 3.58%
    Other Asian 1 $105,000 $105,000 $93 7.99%
    Native Hawaiian or Islander 1 $95,000 $95,000 $2,222 2.88%
    Korean 1 $55,000 $55,000 $257 3.49%

    Approval Rates

    Total approvals of all applications
    96.89%

    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 origination
    72.78%

    Fort Financial Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 327 $43,215,000 $132,156

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $505,000 $101,000
    Single Family (1-4 Units):Site-Built 322 $42,710,000 $132,640

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 46 $2,640,000 $57,391 $697 4.79%
    40-60% 67 $9,755,000 $145,597 $2,035 3.35%
    60-80% 112 $17,220,000 $153,750 $2,468 3.18%
    80-100% 67 $12,615,000 $188,284 $2,768 3.16%
    Under 20% 35 $985,000 $28,143 $250 4.88%