Fairwinds Credit Union Mortgage Rates, Fees & Info

Orlando, FL

LEI: 54930030S6J5KOL5LJ73

Tax ID: 11-1644012

5 stars - Updated: 12/2/24 - out of 5 stars, based on 47 reviews

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

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Mortgage Data

Review & Overview

Fairwinds Credit Union is a smaller credit union specializing in Home Purchase loans. Fairwinds Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Orlando, Deltona, Palm Bay, Tampa, and Miami among others. We have data for 38 markets. (Some data included below & more in-depth data is available with an active subscription.)

Fairwinds Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Fairwinds Credit Union 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.47% 12/2/24
30 Year Conventional Refi 6.41% 12/2/24
30 Year Cash-out Refi 6.61% 12/2/24
15 Year Conventional Purchase 5.68% 12/2/24
15 Year Conventional Refi 5.79% 12/2/24
15 Year Cash-out Refi 5.79% 12/2/24
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.

Fairwinds Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Fairwinds 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

2,168

Origination Dollar Volume (All Markets)

$310,600,000
Show all (5) awards

Relative Rate

Fairwinds Credit Union's average 30 year fixed mortgage rate was 7.35%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.87%.

Relative Fees (Closing Costs)

Fairwinds Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,994.

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 $9,089.

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
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1,655 $215,305,000 $130,094 $2,381 7.15%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 311 $39,465,000 $126,897 $2,198 7.19%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 37 $10,125,000 $273,649 $5,368 6.62%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 24 $9,960,000 $415,000 $2,656 6.96%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 22 $8,930,000 $405,909 $3,106 6.97%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 37 $5,295,000 $143,108 $2,581 7.30%
THE VILLAGES, FL (FHA|USDA|VA) 10 $3,080,000 $308,000 $7,265 6.27%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 3 $2,735,000 $911,667 $9,544 5.92%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 10 $2,290,000 $229,000 $2,634 7.12%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $1,480,000 $740,000 $0 6.79%
Brevard, NC (FHA|USDA|VA) 1 $1,185,000 $1,185,000 $0 5.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 6 $1,140,000 $190,000 $4,250 5.95%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $945,000 $945,000 $0 5.25%
TALLAHASSEE, FL (FHA|USDA|VA) 4 $870,000 $217,500 $5,638 6.67%
PORT ST. LUCIE, FL (FHA|USDA|VA) 7 $805,000 $115,000 $3,041 6.99%
Outside of Metro Areas 6 $800,000 $133,333 $6,201 6.07%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $770,000 $192,500 $4,907 6.05%
OCALA, FL (FHA|USDA|VA) 6 $670,000 $111,667 $4,734 6.99%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $495,000 $495,000 $4,585 7.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $465,000 $465,000 $3,491 6.50%
RICHMOND, VA (FHA|USDA|VA) 1 $355,000 $355,000 $0 5.75%
Palatka, FL (FHA|USDA|VA) 1 $325,000 $325,000 $11,776 6.00%
GOLDSBORO, NC (FHA|USDA|VA) 1 $315,000 $315,000 $0 6.38%
ASHEVILLE, NC (FHA|USDA|VA) 1 $295,000 $295,000 $9,670 5.50%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $285,000 $285,000 $5,772 7.00%
Lake City, FL (FHA|USDA|VA) 1 $285,000 $285,000 $4,574 5.13%
GAINESVILLE, FL (FHA|USDA|VA) 2 $270,000 $135,000 $5,238 7.44%
St. Marys, GA (FHA|USDA|VA) 1 $255,000 $255,000 $5,315 6.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $200,000 $100,000 $0 6.63%
DOTHAN, AL (FHA|USDA|VA) 1 $185,000 $185,000 $3,508 6.75%
Enterprise, AL (FHA|USDA|VA) 1 $175,000 $175,000 $3,047 5.63%
FLORENCE, SC (FHA|USDA|VA) 1 $175,000 $175,000 $3,821 6.38%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $145,000 $145,000 $5,226 7.63%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $145,000 $145,000 $6,579 5.63%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $125,000 $125,000 $4,972 5.88%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.05%
SPARTANBURG, SC (FHA|USDA|VA) 1 $95,000 $95,000 $3,695 5.75%
SAVANNAH, GA (FHA|USDA|VA) 1 $55,000 $55,000 $465 6.60%
Fairwinds Credit Union's top markets include Orlando, Deltona, Palm Bay, Tampa, and Miami among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,101 $228,225,000 $207,289 $2,555 6.79%
    HELOC 1,067 $82,375,000 $77,202 n/a 7.46%

    For 2023, Fairwinds Credit Union's most frequently originated type of loan was Conventional, with 1,101 originations. Their 2nd most popular type was HELOC, with 1,067 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 789 $53,985,000 $68,422 $133 7.44%
    Other 689 $52,545,000 $76,263 $230 7.41%
    Home Purchase 443 $167,875,000 $378,950 $6,325 6.18%
    Cash Out Refi 206 $27,100,000 $131,553 $1,843 7.11%
    Refi 41 $9,095,000 $221,829 $2,189 6.34%

    For 2023, Fairwinds Credit Union's most frequently cited loan purpose was Home Improvement, with 789 originations. The 2nd most popular reason was Other, with 689 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 783 $184,385,000 $235,485 $5,994 7.35%
    10 Year 497 $30,665,000 $61,700 $90 6.91%
    20 Year 413 $37,955,000 $91,901 $788 7.23%
    15 Year 350 $36,650,000 $104,714 $1,115 7.00%
    5 Year 110 $8,910,000 $81,000 $0 6.57%
    30+ year 10 $6,030,000 $603,000 $13,730 5.75%
    Other 4 $1,780,000 $445,000 $7,323 5.86%
    3 Year 1 $4,225,000 $4,225,000 $0 5.75%

    For 2023, Fairwinds Credit Union's most frequently cited loan duration was 30 Year, with 783 originations. The 2nd most popular length was 10 Year, with 497 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 723 $91,935,000 $127,158
    $1k-2k 182 $61,210,000 $336,319
    $5k+ 71 $29,215,000 $411,479
    $2k-3k 64 $19,400,000 $303,125
    $4k-5k 28 $8,410,000 $300,357
    $3k-4k 27 $8,155,000 $302,037

    Fairwinds Credit Union's average total fees were $5,994, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 723 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 650 $105,900,000 $162,923
    7-8% 633 $59,255,000 $93,610
    Over 8% 499 $36,345,000 $72,836
    5-6% 368 $104,140,000 $282,989
    4-5% 18 $4,960,000 $275,556

    During 2023, Fairwinds Credit Union's average interest rate for loans was 7.35%, while their most frequently originated rate bucket for loans was 6-7%, with 650 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,274 $65,830,000 $51,672 $117 7.39%
    $100k-200k 448 $54,600,000 $121,875 $2,713 7.16%
    $200k-400k 281 $80,695,000 $287,171 $5,967 6.35%
    $400k-600k 102 $48,490,000 $475,392 $6,928 6.31%
    $600k-1MM 46 $32,480,000 $706,087 $7,860 6.13%
    $1MM+ 17 $28,505,000 $1,676,765 $25,368 5.90%

    2023 saw Fairwinds Credit Union place emphasis on $100,000 or less loans with 1,274 originations, totaling $65,830,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 539 $71,935,000 $133,460 $2,778 7.13%
    $75k-100k 442 $44,760,000 $101,267 $1,894 7.16%
    $50k-75k 439 $35,035,000 $79,806 $1,565 7.24%
    $150k-250k 391 $82,305,000 $210,499 $3,986 7.04%
    $50k or less 222 $12,430,000 $55,991 $1,014 7.04%
    $250k+ 126 $53,590,000 $425,317 $5,482 6.93%

    Fairwinds Credit Union lent most frequently to those with incomes in the $100k-150k range, with 539 originations. The second most popular income band? $75k-100k, with 442 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 392 $53,560,000 $136,633 $2,636 7.06%
    20-30% 382 $58,620,000 $153,455 $3,026 7.03%
    44% 171 $19,325,000 $113,012 $2,072 7.45%
    43% 138 $15,870,000 $115,000 $1,895 7.15%
    42% 127 $17,635,000 $138,858 $2,213 7.23%
    <20% 120 $18,340,000 $152,833 $3,244 6.62%
    39% 103 $13,125,000 $127,427 $2,744 7.34%
    40% 93 $12,235,000 $131,559 $1,325 7.27%
    38% 88 $11,700,000 $132,955 $2,499 7.32%
    41% 84 $12,910,000 $153,690 $1,776 7.35%
    45% 80 $12,260,000 $153,250 $2,734 7.06%
    37% 79 $9,875,000 $125,000 $1,896 7.30%
    36% 74 $9,060,000 $122,432 $2,289 7.15%
    46% 52 $8,270,000 $159,038 $3,220 7.21%
    47% 50 $8,390,000 $167,800 $3,237 7.12%
    48% 50 $7,390,000 $147,800 $3,862 6.86%
    49% 50 $6,920,000 $138,400 $3,730 6.91%
    50-60% 28 $5,150,000 $183,929 $1,169 6.53%

    Fairwinds Credit Union lent most frequently to those with DTI ratios of 30-36%, with 392 originations. The next most common DTI ratio? 20-30%, with 382 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,586 $221,480,000 $139,647 $2,582 7.12%
    Not provided 386 $51,240,000 $132,746 $2,269 7.14%
    Asian 63 $13,405,000 $212,778 $4,392 6.79%
    Black 115 $12,845,000 $111,696 $1,972 7.37%
    Not applicable 6 $9,900,000 $1,650,000 $0 6.35%
    American Indian 9 $915,000 $101,667 $1,261 7.21%
    Native Hawaiian or Islander 3 $815,000 $271,667 $4,563 6.68%

    Approval Rates

    Total approvals of all applications
    67.12%

    Fairwinds Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    62.59%

    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 2,168 $310,600,000 $143,266

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,168 $310,600,000 $143,266

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 387 $45,035,000 $116,370 $1,330 7.30%
    40-60% 119 $35,755,000 $300,462 $4,871 6.35%
    60-80% 196 $69,700,000 $355,612 $6,345 6.29%
    80-100% 202 $87,230,000 $431,832 $6,547 6.22%
    Under 20% 1,264 $72,880,000 $57,658 $59 7.41%