Fairwinds Credit Union Mortgage Rates, Fees & Info
Orlando, FLLEI: 54930030S6J5KOL5LJ73
Tax ID: 11-1644012
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Fairwinds Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. Fairwinds Credit Union has a high proportion of conventional loans. Their top markets include Orlando, Deltona, Lakeland, Tampa, and Palm Bay among others. Fairwinds Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Fairwinds Credit Union is typically an average fee lendor.Originations
3,121Origination Dollar Volume (All Markets)
$611,905,000Awards
FAIRWINDS CREDIT UNION - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Fairwinds Credit Union's average 30 year fixed rate mortgage of loans were
3.35%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.2%.
Relative Fees
Fairwinds Credit Union's average total fees for a 30 year fixed rate
mortgage are $3,830.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2,365 | $464,505,000 | $196,408 | $3,818 | 3.15% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 459 | $78,215,000 | $170,403 | $3,493 | 3.16% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 52 | $10,420,000 | $200,385 | $3,682 | 3.02% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 52 | $10,370,000 | $199,423 | $3,714 | 3.03% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 34 | $8,170,000 | $240,294 | $3,663 | 2.90% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 26 | $7,840,000 | $301,538 | $5,380 | 2.86% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 9 | $3,575,000 | $397,222 | $3,127 | 2.68% |
| OCALA, FL (FHA|USDA|VA) | 20 | $3,230,000 | $161,500 | $3,418 | 3.11% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 11 | $2,715,000 | $246,818 | $3,728 | 2.74% |
| Outside of Metro Areas | 11 | $2,465,000 | $224,091 | $3,785 | 3.05% |
| THE VILLAGES, FL (FHA|USDA|VA) | 14 | $2,440,000 | $174,286 | $3,104 | 3.33% |
| Key West, FL (FHA|USDA|VA) | 2 | $1,990,000 | $995,000 | $0 | 2.50% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 6 | $1,900,000 | $316,667 | $3,608 | 2.75% |
| GAINESVILLE, FL (FHA|USDA|VA) | 9 | $1,715,000 | $190,556 | $2,129 | 3.07% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 5 | $1,555,000 | $311,000 | $4,253 | 2.64% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $3,389 | 3.25% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $0 | 2.67% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 4 | $950,000 | $237,500 | $3,173 | 2.72% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 6 | $940,000 | $156,667 | $2,403 | 2.77% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 5 | $855,000 | $171,000 | $3,843 | 2.55% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $0 | 2.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $10,955 | 2.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $2,876 | 2.71% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $4,324 | 2.13% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 2.63% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,973 | 3.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,982 | 2.75% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $7,394 | 2.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,267 | 1.88% |
| Palatka, FL (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $0 | 2.56% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 2.88% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $1,915 | 3.19% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,544 | 3.25% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 2.13% |
| Boone, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 3.50% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 3.25% |
| Calhoun, GA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,337 | 3.50% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,997 | 3.13% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 2.13% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 2.00% |
Fairwinds Credit Union's top markets include Orlando, Deltona, Lakeland, Tampa, and Palm Bay among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 3,121 | $611,905,000 | $196,061 | $3,760 | 3.13% |
For the 2021 period, Fairwinds Credit Union's most frequently originated loan type of loans were Conventional, with 3,121 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 1,054 | $207,550,000 | $196,917 | $3,162 | 2.66% |
| Cash Out Refi | 1,007 | $204,305,000 | $202,885 | $3,765 | 2.97% |
| Home Purchase | 529 | $153,575,000 | $290,312 | $4,322 | 3.06% |
| Other | 295 | $28,805,000 | $97,644 | $3,279 | 4.41% |
| Home Improvement | 236 | $17,670,000 | $74,873 | $3,404 | 4.51% |
For the 2021, Fairwinds Credit Union's most frequently cited loan purpose of loans were Refi, with 1,054 originations. The 2nd most popular reason of loans were Cash Out Refi, with 1,007 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1,369 | $292,625,000 | $213,751 | $3,830 | 3.35% |
| 15 Year | 988 | $198,240,000 | $200,648 | $3,644 | 2.57% |
| 20 Year | 477 | $92,005,000 | $192,883 | $3,525 | 3.14% |
| 10 Year | 239 | $24,865,000 | $104,038 | $3,413 | 3.81% |
| 5 Year | 42 | $2,150,000 | $51,190 | $0 | 5.18% |
| Other | 6 | $2,020,000 | $336,667 | $0 | 3.90% |
For the 2021, Fairwinds Credit Union's most frequently cited loan length of loans were 30 Year, with 1,369 originations. The 2nd most popular length of loans were 15 Year, with 988 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1,678 | $361,830,000 | $215,632 |
| $1k-2k | 533 | $112,905,000 | $211,829 |
| $2k-3k | 186 | $40,270,000 | $216,505 |
| $3k-4k | 153 | $36,555,000 | $238,922 |
| $5k+ | 44 | $20,680,000 | $470,000 |
$3,830 of loans were Fairwinds Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,678 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1,008 | $211,770,000 | $210,089 |
| 2.5-3% | 944 | $206,880,000 | $219,153 |
| <2.5% | 842 | $168,710,000 | $200,368 |
| 4-5% | 150 | $14,340,000 | $95,600 |
| 5-6% | 97 | $5,475,000 | $56,443 |
| 6-7% | 56 | $3,320,000 | $59,286 |
| 7-8% | 24 | $1,410,000 | $58,750 |
During 2021, Fairwinds Credit Union's average interest rate of loans were 3.35%, while their most frequently originated rate bucket of loans were 3-4%, with 1,008 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 1,183 | $173,975,000 | $147,063 | $3,082 | 2.87% |
| $200k-400k | 1,066 | $282,760,000 | $265,253 | $4,058 | 2.96% |
| $100,000 or less | 679 | $41,905,000 | $61,716 | $2,641 | 3.93% |
| $400k-600k | 138 | $65,620,000 | $475,507 | $5,330 | 2.92% |
| $600k-1MM | 44 | $31,500,000 | $715,909 | $0 | 2.85% |
| $1MM+ | 11 | $16,145,000 | $1,467,727 | $0 | 2.55% |
2021 saw Fairwinds Credit Union place emphasis on $100k-200k loans with 1,183 originations, totaling $173,975,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 749 | $118,595,000 | $158,338 | $3,487 | 3.10% |
| $100k-150k | 687 | $141,325,000 | $205,713 | $3,973 | 3.19% |
| $75k-100k | 603 | $109,225,000 | $181,136 | $3,676 | 3.13% |
| $50k or less | 501 | $59,615,000 | $118,992 | $3,181 | 3.13% |
| $150k-250k | 415 | $105,655,000 | $254,590 | $4,680 | 3.16% |
| $250k+ | 156 | $74,710,000 | $478,910 | $4,721 | 2.92% |
Fairwinds Credit Union lent most frequently to those with incomes in the $50k-75k range, with 749 originations. The second most popular income band? $100k-150k, with 687 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 767 | $147,125,000 | $191,819 | $3,715 | 3.04% |
| 30-36% | 628 | $132,920,000 | $211,656 | $3,773 | 3.13% |
| <20% | 356 | $59,640,000 | $167,528 | $4,024 | 3.19% |
| 44% | 112 | $21,050,000 | $187,946 | $3,504 | 3.30% |
| 43% | 109 | $21,655,000 | $198,670 | $3,625 | 3.14% |
| 39% | 107 | $21,025,000 | $196,495 | $3,963 | 3.15% |
| 38% | 106 | $20,070,000 | $189,340 | $3,746 | 3.09% |
| 36% | 105 | $20,375,000 | $194,048 | $3,519 | 3.07% |
| 42% | 101 | $20,195,000 | $199,950 | $3,909 | 3.25% |
| 41% | 97 | $17,895,000 | $184,485 | $3,952 | 3.32% |
| 37% | 97 | $19,635,000 | $202,423 | $3,617 | 3.23% |
| 49% | 87 | $20,325,000 | $233,621 | $3,934 | 3.16% |
| 40% | 83 | $16,745,000 | $201,747 | $3,739 | 3.12% |
| 45% | 82 | $15,580,000 | $190,000 | $4,152 | 3.10% |
| 47% | 79 | $15,395,000 | $194,873 | $3,561 | 3.22% |
| 46% | 76 | $13,940,000 | $183,421 | $3,521 | 3.20% |
| 48% | 69 | $13,505,000 | $195,725 | $3,947 | 3.08% |
| 50-60% | 48 | $11,610,000 | $241,875 | $3,416 | 2.87% |
| >60% | 2 | $440,000 | $220,000 | $0 | 2.75% |
Fairwinds Credit Union lent most frequently to those with DTI ratios of 20-30%, with 767 originations. The next most common DTI ratio? 30-36%, with 628 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 2,070 | $396,010,000 | $191,309 | $3,735 | 3.19% |
| Not provided | 686 | $144,010,000 | $209,927 | $3,774 | 2.95% |
| Black | 205 | $35,015,000 | $170,805 | $3,699 | 3.21% |
| Asian | 115 | $27,125,000 | $235,870 | $4,024 | 2.85% |
| American Indian | 24 | $4,610,000 | $192,083 | $5,244 | 3.45% |
| Not applicable | 10 | $2,780,000 | $278,000 | $0 | 3.91% |
| Native Hawaiian | 11 | $2,355,000 | $214,091 | $3,814 | 3.10% |
Approval Rates
Total approvals of all applications82.15%
Fairwinds Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination55.73%
Fairwinds 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 | 3,121 | $611,905,000 | $196,061 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3,121 | $611,905,000 | $196,061 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 493 | $54,895,000 | $111,349 | $2,929 | 3.06% |
| 40-60% | 704 | $130,650,000 | $185,582 | $3,351 | 2.70% |
| 60-80% | 1,151 | $285,695,000 | $248,215 | $3,760 | 2.95% |
| 80-100% | 413 | $121,705,000 | $294,685 | $4,170 | 3.10% |
| Under 20% | 360 | $18,960,000 | $52,667 | $2,595 | 4.71% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Fairway Independent Mortgage Corporation | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 11 | 22.9% |
| Fairway Independent Mortgage Corporation | Conventional home mortgage | Closing on a mortgage | 3 | 6.3% |
| Fairway Independent Mortgage Corporation | Conventional home mortgage | Struggling to pay mortgage | 3 | 6.3% |
| Fairway Independent Mortgage Corporation | Conventional home mortgage | Trouble during payment process | 11 | 22.9% |
| Fairway Independent Mortgage Corporation | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 4.2% |
| Fairway Independent Mortgage Corporation | FHA mortgage | Closing on a mortgage | 3 | 6.3% |
| Fairway Independent Mortgage Corporation | FHA mortgage | Struggling to pay mortgage | 1 | 2.1% |
| Fairway Independent Mortgage Corporation | FHA mortgage | Trouble during payment process | 2 | 4.2% |
| Fairway Independent Mortgage Corporation | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.1% |
| Fairway Independent Mortgage Corporation | Other type of mortgage | Closing on a mortgage | 3 | 6.3% |
| Fairway Independent Mortgage Corporation | Other type of mortgage | Struggling to pay mortgage | 1 | 2.1% |
| Fairway Independent Mortgage Corporation | Reverse mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.1% |
| Fairway Independent Mortgage Corporation | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 4.2% |
| Fairway Independent Mortgage Corporation | VA mortgage | Closing on a mortgage | 1 | 2.1% |
| Fairway Independent Mortgage Corporation | VA mortgage | Trouble during payment process | 3 | 6.3% |
