Community Credit Union Of Florida Mortgage Rates, Fees & InfoRockledge, FL
Tax ID: 59-0860768
Review & OverviewCommunity Credit Union Of Florida is a smaller credit union specializing in Refi and Home Purchase loans. Community Credit Union Of Florida has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Palm Bay, Orlando, Tampa, Lakeland, and Tallahassee among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)
Community Credit Union Of Florida 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. Community Credit Union Of Florida is typically an average 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||7.69%||12/4/22|
|30 Year Conventional Refi||7.09%||12/4/22|
|30 Year FHA Purchase||7.32%||12/4/22|
|30 Year VA Purchase||6.58%||12/4/22|
|30 Year VA Refi||6.79%||12/4/22|
|15 Year Conventional Purchase||6.09%||12/4/22|
|15 Year Conventional Refi||6.40%||12/4/22|
|15 Year Cash-out Refi||6.40%||12/4/22|
|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.|
Origination Dollar Volume (All Markets)$63,180,000
Community Credit Union Of Florida's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of 0.5%.
Relative Fees (Closing Costs)
Community Credit Union Of Florida's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,157.
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 $4,750.
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|
|PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA)||287||$57,405,000||$200,017||$3,982||3.51%|
|ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)||14||$3,360,000||$240,000||$3,882||4.30%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||3||$525,000||$175,000||$4,064||3.17%|
|LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA)||2||$400,000||$200,000||$3,635||3.94%|
|TALLAHASSEE, FL (FHA|USDA|VA)||2||$390,000||$195,000||$4,107||4.38%|
|PORT ST. LUCIE, FL (FHA|USDA|VA)||1||$325,000||$325,000||$5,275||2.88%|
|OCALA, FL (FHA|USDA|VA)||2||$280,000||$140,000||$3,389||2.94%|
|DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA)||1||$255,000||$255,000||$4,284||4.88%|
|JACKSONVILLE, FL (FHA|USDA|VA)||1||$165,000||$165,000||$3,205||3.50%|
|HOMOSASSA SPRINGS, FL (FHA|USDA|VA)||1||$75,000||$75,000||$3,371||2.88%|
We use machine learning to identify the top lenders compared against COMMUNITY CREDIT UNION OF FLORIDA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Community Credit Union Of Florida's most frequently originated type of loan was Conventional, with 311 originations. Their 2nd most popular type was VA, with 2 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Community Credit Union Of Florida's most frequently cited loan purpose was Refi, with 234 originations. The 2nd most popular reason was Home Purchase, with 67 originations.
For 2021, Community Credit Union Of Florida's most frequently cited loan duration was 30 Year, with 225 originations. The 2nd most popular length was 15 Year, with 69 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Community Credit Union Of Florida's average total fees were $4,157, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 222 originations.
During 2021, Community Credit Union Of Florida's average interest rate for loans was 3.65%, while their most frequently originated rate bucket for loans was 3-4%, with 120 originations.
2021 saw Community Credit Union Of Florida place emphasis on $100k-200k loans with 128 originations, totaling $18,950,000 in origination value.
Community Credit Union Of Florida lent most frequently to those with incomes in the $50k-75k range, with 84 originations. The second most popular income band? $100k-150k, with 69 originations.
Applicant Debt to Income Ratio
Community Credit Union Of Florida lent most frequently to those with DTI ratios of 20-30%, with 78 originations. The next most common DTI ratio? 30-36%, with 68 originations.
Approval RatesTotal approvals of all applications
Community Credit Union Of Florida has a below average approval rate.
Pick RateApprovals leading to origination
Community Credit Union Of Florida 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|
|Bank Name||Product||Issue||2021 CPFB Complaints||% of Total Issues|
|COMMUNITY MORTGAGE CORPORATION||FHA mortgage||Applying for a mortgage or refinancing an existing mortgage||1||100.0%|