Fairwinds Credit Union Mortgage Rates, Fees & Info

Orlando, FL

LEI: 54930030S6J5KOL5LJ73

Tax ID: 11-1644012

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
  • Complaints
  • 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

    Fairwinds Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Fairwinds Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Orlando, Deltona, Lakeland, Palm Bay, and Jacksonville among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Fairwinds 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. Fairwinds 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 6.47% 12/16/24
    30 Year Conventional Refi 6.41% 12/16/24
    30 Year Cash-out Refi 6.61% 12/16/24
    15 Year Conventional Purchase 5.68% 12/16/24
    15 Year Conventional Refi 5.79% 12/16/24
    15 Year Cash-out Refi 5.79% 12/16/24
    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

    1,362

    Origination Dollar Volume (All Markets)

    $245,370,000
    Show all (5) 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
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1,096 $202,320,000 $184,599 $3,196 4.79%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 161 $23,675,000 $147,050 $2,879 4.70%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 34 $5,740,000 $168,824 $3,625 4.52%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 19 $3,835,000 $201,842 $3,142 4.60%
    JACKSONVILLE, FL (FHA|USDA|VA) 7 $2,025,000 $289,286 $2,480 4.52%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $1,720,000 $286,667 $3,487 4.56%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 9 $1,575,000 $175,000 $3,060 4.66%
    OCALA, FL (FHA|USDA|VA) 11 $1,395,000 $126,818 $2,620 4.85%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $650,000 $325,000 $4,027 4.44%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 5 $585,000 $117,000 $3,179 5.05%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 3 $565,000 $188,333 $2,606 4.63%
    GAINESVILLE, FL (FHA|USDA|VA) 2 $310,000 $155,000 $3,860 6.00%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $295,000 $295,000 $0 4.00%
    PUNTA GORDA, FL (FHA|USDA|VA) 2 $230,000 $115,000 $0 4.25%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $230,000 $115,000 $2,832 4.56%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $135,000 $135,000 $4,115 4.38%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.25%
    Fairwinds Credit Union's top markets include Orlando, Deltona, Lakeland, Palm Bay, and Jacksonville among others.

    Their top states include:
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against FAIRWINDS CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    McCoy Federal Credit Union
    Similarity Rank: 60
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    DYBN FINANCIAL CORP.
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    Similarity Rank: 870
    NEAL COMMUNITIES FUNDING, LLC
    Similarity Rank: 924
    COMMUNITY CREDIT UNION OF FLORIDA
    Similarity Rank: 945
    FIRST EQUITY MORTGAGE INCORPORATED
    Similarity Rank: 988
    USF Federal Credit Union
    Similarity Rank: 1023
    121 FINANCIAL
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,193 $234,415,000 $196,492 $3,161 4.54%
    HELOC 169 $10,955,000 $64,822 n/a 6.34%

    For 2018, Fairwinds Credit Union's most frequently originated type of loan was Conventional, with 1,193 originations. Their 2nd most popular type was HELOC, with 169 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 666 $145,060,000 $217,808 $3,460 4.62%
    Refi 345 $57,405,000 $166,391 $2,549 4.33%
    Home Improvement 217 $26,965,000 $124,263 $3,122 5.19%
    Cash Out Refi 127 $12,755,000 $100,433 $2,794 5.94%
    Other 6 $1,480,000 $246,667 $2,977 5.34%
    NA 1 $1,705,000 $1,705,000 $0 3.88%

    For 2018, Fairwinds Credit Union's most frequently cited loan purpose was Home Purchase, with 666 originations. The 2nd most popular reason was Refi, with 345 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 783 $161,835,000 $206,686 $3,383 4.83%
    15 Year 315 $50,395,000 $159,984 $2,579 4.25%
    20 Year 158 $24,910,000 $157,658 $2,803 4.83%
    10 Year 92 $6,230,000 $67,717 $1,897 5.75%
    5 Year 13 $1,915,000 $147,308 $0 5.25%
    Other 1 $85,000 $85,000 $26 4.25%

    For 2018, Fairwinds Credit Union's most frequently cited loan duration was 30 Year, with 783 originations. The 2nd most popular length was 15 Year, with 315 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 787 $148,045,000 $188,113
    $1k-2k 240 $47,120,000 $196,333
    $2k-3k 45 $10,635,000 $236,333
    $3k-4k 16 $3,740,000 $233,750
    $5k+ 9 $4,375,000 $486,111
    $4k-5k 6 $1,280,000 $213,333

    Fairwinds Credit Union's average total fees were $3,383, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 787 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 819 $165,505,000 $202,082
    3-4% 243 $44,515,000 $183,189
    5-6% 190 $29,090,000 $153,105
    6-7% 69 $4,175,000 $60,507
    7-8% 40 $2,010,000 $50,250
    Over 8% 1 $75,000 $75,000

    During 2018, Fairwinds Credit Union's average interest rate for loans was 4.83%, while their most frequently originated rate bucket for loans was 4-5%, with 819 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 540 $79,890,000 $147,944 $2,879 4.57%
    $200k-400k 446 $117,580,000 $263,632 $3,718 4.56%
    $100,000 or less 324 $19,680,000 $60,741 $2,112 5.42%
    $400k-600k 39 $18,275,000 $468,590 $4,521 4.58%
    $600k-1MM 12 $8,240,000 $686,667 $6,865 4.13%
    $1MM+ 1 $1,705,000 $1,705,000 $0 3.88%

    2018 saw Fairwinds Credit Union place emphasis on $100k-200k loans with 540 originations, totaling $79,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 352 $53,070,000 $150,767 $2,963 4.73%
    $75k-100k 282 $50,560,000 $179,291 $3,310 4.71%
    $100k-150k 272 $55,610,000 $204,449 $3,547 4.89%
    $50k or less 270 $29,860,000 $110,593 $2,534 4.78%
    $150k-250k 142 $38,670,000 $272,324 $3,791 4.70%
    $250k+ 39 $15,755,000 $403,974 $5,102 4.69%

    Fairwinds Credit Union lent most frequently to those with incomes in the $50k-75k range, with 352 originations. The second most popular income band? $75k-100k, with 282 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 289 $51,735,000 $179,014 $3,158 4.61%
    30-36% 275 $47,435,000 $172,491 $3,258 4.81%
    <20% 82 $16,030,000 $195,488 $3,481 4.47%
    42% 68 $12,650,000 $186,029 $3,148 4.60%
    38% 65 $10,425,000 $160,385 $3,181 5.76%
    39% 56 $9,130,000 $163,036 $2,858 5.01%
    43% 55 $10,115,000 $183,909 $3,153 4.75%
    37% 54 $9,290,000 $172,037 $2,631 4.94%
    44% 52 $9,490,000 $182,500 $3,010 4.72%
    36% 51 $9,215,000 $180,686 $3,320 4.80%
    50-60% 47 $10,635,000 $226,277 $3,520 4.45%
    47% 41 $7,505,000 $183,049 $3,015 4.74%
    45% 41 $7,325,000 $178,659 $3,344 4.72%
    48% 39 $6,825,000 $175,000 $2,824 4.77%
    46% 38 $7,350,000 $193,421 $3,214 4.61%
    41% 37 $6,635,000 $179,324 $2,978 4.83%
    40% 33 $5,745,000 $174,091 $2,847 4.66%
    49% 32 $5,860,000 $183,125 $3,249 4.88%
    >60% 2 $130,000 $65,000 $0 4.78%

    Fairwinds Credit Union lent most frequently to those with DTI ratios of 20-30%, with 289 originations. The next most common DTI ratio? 30-36%, with 275 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,044 $181,970,000 $174,301 $3,162 4.79%
    Not provided 162 $32,870,000 $202,901 $3,131 4.53%
    Black 90 $13,490,000 $149,889 $2,923 4.84%
    Asian 48 $13,140,000 $273,750 $3,582 4.59%
    Not applicable 5 $1,845,000 $369,000 $0 4.94%
    American Indian 8 $1,090,000 $136,250 $3,606 5.77%
    Native Hawaiian or Islander 5 $965,000 $193,000 $3,350 5.17%

    Approval Rates

    Total approvals of all applications
    82.54%

    Fairwinds Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    52.35%

    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
    0.0 12 $530,000 $44,167
    250.0 1 $115,000 $115,000
    NA 1,349 $244,725,000 $181,412

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $880,000 $440,000
    Single Family (1-4 Units):Manufactured 24 $2,220,000 $92,500
    Single Family (1-4 Units):Site-Built 1,336 $242,270,000 $181,340

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 133 $10,945,000 $82,293 $1,956 5.08%
    40-60% 201 $28,365,000 $141,119 $2,592 4.49%
    60-80% 483 $96,465,000 $199,720 $3,284 4.55%
    80-100% 442 $105,390,000 $238,439 $3,405 4.66%
    Over 100% 1 $165,000 $165,000 $0 6.13%
    Under 20% 102 $4,040,000 $39,608 $728 6.34%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Fairway Independent Mortgage Corporation Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.3%
    Fairway Independent Mortgage Corporation Conventional home mortgage Closing on a mortgage 3 18.8%
    Fairway Independent Mortgage Corporation Conventional home mortgage Struggling to pay mortgage 1 6.3%
    Fairway Independent Mortgage Corporation Conventional home mortgage Trouble during payment process 4 25.0%
    Fairway Independent Mortgage Corporation FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 12.5%
    Fairway Independent Mortgage Corporation FHA mortgage Closing on a mortgage 1 6.3%
    Fairway Independent Mortgage Corporation FHA mortgage Trouble during payment process 1 6.3%
    Fairway Independent Mortgage Corporation Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.3%
    Fairway Independent Mortgage Corporation VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.3%
    Fairway Independent Mortgage Corporation VA mortgage Trouble during payment process 1 6.3%