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

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

    Fort Financial Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Fort Financial Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Fort Wayne, Auburn, Charlotte, Angola, and Muncie among others. We have data for 31 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Fort Financial 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. 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

    292

    Origination Dollar Volume (All Markets)

    $33,010,000

    Awards

    FORT FINANCIAL Federal Credit Union 30 Year Conventional Loans bronze FORT FINANCIAL Federal Credit Union 30 Year Conventional Loans silver
    Show all (2) 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) 137 $16,085,000 $117,409 $1,622 6.08%
    Auburn, IN (FHA|USDA|VA) 39 $2,545,000 $65,256 $1,085 5.96%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 18 $2,460,000 $136,667 $1,579 5.43%
    Outside of Metro Areas 12 $1,760,000 $146,667 $2,521 4.59%
    Angola, IN (FHA|USDA|VA) 17 $1,655,000 $97,353 $1,629 5.93%
    MUNCIE, IN (FHA|USDA|VA) 8 $1,290,000 $161,250 $2,584 5.45%
    Kendallville, IN (FHA|USDA|VA) 10 $940,000 $94,000 $1,343 6.08%
    ELKHART-GOSHEN, IN (FHA|USDA|VA) 3 $585,000 $195,000 $1,236 5.50%
    Corinth, MS (FHA|USDA|VA) 11 $575,000 $52,273 $1,912 5.49%
    Huntington, IN (FHA|USDA|VA) 6 $520,000 $86,667 $1,854 6.21%
    Albemarle, NC (FHA|USDA|VA) 1 $485,000 $485,000 $4,034 5.25%
    New Castle, IN (FHA|USDA|VA) 3 $475,000 $158,333 $2,602 5.08%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $390,000 $195,000 $1,637 4.93%
    Warsaw, IN (FHA|USDA|VA) 2 $390,000 $195,000 $1,654 4.87%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $375,000 $375,000 $6,908 4.88%
    Tupelo, MS (FHA|USDA|VA) 3 $305,000 $101,667 $1,270 5.62%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $245,000 $245,000 $3,076 5.38%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $235,000 $235,000 $4,404 5.00%
    Bluffton, IN (FHA|USDA|VA) 4 $230,000 $57,500 $1,458 4.43%
    Shelby, NC (FHA|USDA|VA) 1 $195,000 $195,000 $3,588 5.75%
    Wabash, IN (FHA|USDA|VA) 1 $195,000 $195,000 $2,634 3.88%
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $195,000 $195,000 $3,336 5.88%
    Richmond, IN (FHA|USDA|VA) 1 $185,000 $185,000 $2,167 6.88%
    Defiance, OH (FHA|USDA|VA) 1 $165,000 $165,000 $2,442 6.25%
    Plymouth, IN (FHA|USDA|VA) 2 $160,000 $80,000 $2,596 4.19%
    FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $105,000 $105,000 $2,896 3.88%
    ROANOKE, VA (FHA|USDA|VA) 1 $85,000 $85,000 $3,062 5.88%
    Fremont, OH (FHA|USDA|VA) 1 $65,000 $65,000 $2,947 5.63%
    Hillsdale, MI (FHA|USDA|VA) 1 $55,000 $55,000 $2,741 6.25%
    Van Wert, OH (FHA|USDA|VA) 1 $35,000 $35,000 $689 8.99%
    Marion, IN (FHA|USDA|VA) 1 $25,000 $25,000 $562 5.49%
    Fort Financial Federal Credit Union's top markets include Fort Wayne, Auburn, Charlotte, Angola, and Muncie among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Michigan (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: 116
    BEACON CREDIT UNION
    Similarity Rank: 372
    PARTNERS 1ST Federal Credit Union
    Similarity Rank: 704
    ProFed Federal Credit Union
    Similarity Rank: 760
    Crossroads Bank
    Similarity Rank: 819
    Lake City Bank
    Similarity Rank: 874
    MIDWEST AMERICA
    Similarity Rank: 1533
    FORT FINANCIAL Federal Credit Union
    Similarity Rank: 1643
    First Federal Savings Bank
    Similarity Rank: 1798
    First Federal Savings Bank
    Similarity Rank: 1920

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 292 $33,010,000 $113,048 $1,701 5.82%

    For 2022, Fort Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 292 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 111 $20,365,000 $183,468 $2,374 5.49%
    Home Improvement 78 $3,490,000 $44,744 $776 6.18%
    Cash Out Refi 59 $6,615,000 $112,119 $2,240 5.21%
    Other 22 $850,000 $38,636 $583 7.65%
    Refi 22 $1,690,000 $76,818 $1,347 6.03%

    For 2022, Fort Financial Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 111 originations. The 2nd most popular reason was Home Improvement, with 78 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 115 $23,395,000 $203,435 $2,813 5.08%
    10 Year 57 $2,235,000 $39,211 $930 6.61%
    15 Year 55 $4,555,000 $82,818 $1,304 6.19%
    Other 31 $1,315,000 $42,419 $651 6.32%
    5 Year 17 $325,000 $19,118 $466 5.78%
    20 Year 16 $1,160,000 $72,500 $1,302 6.26%
    3 Year 1 $25,000 $25,000 $0 4.49%

    For 2022, Fort Financial Federal Credit Union's most frequently cited loan duration was 30 Year, with 115 originations. The 2nd most popular length was 10 Year, with 57 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 148 $6,660,000 $45,000
    $1k-2k 132 $23,310,000 $176,591
    $2k-3k 6 $1,990,000 $331,667
    $3k-4k 2 $330,000 $165,000
    $4k-5k 1 $375,000 $375,000

    Fort Financial Federal Credit Union's average total fees were $2,813, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 148 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 74 $10,540,000 $142,432
    4-5% 68 $9,670,000 $142,206
    6-7% 47 $3,835,000 $81,596
    3-4% 43 $6,095,000 $141,744
    Over 8% 34 $1,430,000 $42,059
    7-8% 17 $1,015,000 $59,706
    2.5-3% 8 $320,000 $40,000
    <2.5% 1 $105,000 $105,000

    During 2022, Fort Financial Federal Credit Union's average interest rate for loans was 5.08%, while their most frequently originated rate bucket for loans was 5-6%, with 74 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 179 $8,145,000 $45,503 $1,087 6.29%
    $100k-200k 64 $8,860,000 $138,438 $2,385 5.21%
    $200k-400k 39 $10,975,000 $281,410 $2,948 4.99%
    $400k-600k 9 $4,385,000 $487,222 $3,156 4.51%
    $600k-1MM 1 $645,000 $645,000 $5,712 5.13%

    2022 saw Fort Financial Federal Credit Union place emphasis on $100,000 or less loans with 179 originations, totaling $8,145,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 91 $6,655,000 $73,132 $1,803 5.47%
    $75k-100k 79 $8,055,000 $101,962 $1,483 6.25%
    $50k-75k 51 $5,105,000 $100,098 $1,618 6.07%
    $100k-150k 42 $8,370,000 $199,286 $2,210 5.64%
    $150k-250k 22 $3,250,000 $147,727 $1,166 5.61%
    $250k+ 7 $1,575,000 $225,000 $2,044 5.60%

    Fort Financial Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 91 originations. The second most popular income band? $75k-100k, with 79 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 75 $6,335,000 $84,467 $1,417 5.90%
    30-36% 57 $5,595,000 $98,158 $1,669 6.35%
    <20% 44 $2,560,000 $58,182 $1,369 5.54%
    40% 14 $2,170,000 $155,000 $2,086 5.40%
    36% 11 $1,265,000 $115,000 $1,586 5.61%
    37% 10 $1,700,000 $170,000 $1,906 5.52%
    45% 9 $1,765,000 $196,111 $2,416 4.64%
    44% 9 $1,345,000 $149,444 $1,659 6.45%
    38% 8 $630,000 $78,750 $1,363 7.10%
    39% 7 $1,165,000 $166,429 $2,738 5.48%
    46% 7 $1,405,000 $200,714 $2,373 4.98%
    50-60% 7 $1,185,000 $169,286 $2,170 5.82%
    43% 7 $1,125,000 $160,714 $2,023 4.96%
    42% 6 $520,000 $86,667 $1,594 6.18%
    47% 6 $1,130,000 $188,333 $2,571 5.62%
    48% 6 $1,760,000 $293,333 $2,786 5.35%
    41% 5 $595,000 $119,000 $2,117 5.87%
    49% 2 $270,000 $135,000 $1,576 5.43%
    >60% 2 $490,000 $245,000 $562 5.49%

    Fort Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 75 originations. The next most common DTI ratio? 30-36%, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 235 $25,155,000 $107,043 $1,591 5.98%
    Not provided 38 $6,600,000 $173,684 $2,642 4.47%
    Black 16 $660,000 $41,250 $792 6.98%
    Asian 2 $490,000 $245,000 $3,729 4.25%
    American Indian 1 $105,000 $105,000 $3,019 4.63%

    Approval Rates

    Total approvals of all applications
    89.87%

    Fort Financial Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    50.68%

    Fort Financial 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 292 $33,010,000 $113,048

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    292 $33,010,000 $113,048

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 57 $3,985,000 $69,912 $817 6.47%
    40-60% 24 $2,640,000 $110,000 $2,268 4.85%
    60-80% 57 $9,195,000 $161,316 $2,868 4.88%
    80-100% 59 $13,855,000 $234,831 $2,750 5.20%
    Under 20% 95 $3,335,000 $35,105 $773 6.63%