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 Refi and Home Purchase loans. Fairwinds Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Orlando, Deltona, Tampa, Lakeland, and Palm Bay among others. We have data for 21 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% 4/21/24
    30 Year Conventional Refi 6.41% 4/21/24
    30 Year Cash-out Refi 6.61% 4/21/24
    15 Year Conventional Purchase 5.68% 4/21/24
    15 Year Conventional Refi 5.79% 4/21/24
    15 Year Cash-out Refi 5.79% 4/21/24
    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.

    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

    2,746

    Origination Dollar Volume (All Markets)

    $463,810,000
    Show all (6) 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) 2,226 $379,050,000 $170,283 $3,498 4.48%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 346 $52,360,000 $151,329 $3,070 4.40%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 31 $7,445,000 $240,161 $3,260 3.94%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 45 $6,455,000 $143,444 $3,529 4.26%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 29 $5,275,000 $181,897 $3,006 4.18%
    JACKSONVILLE, FL (FHA|USDA|VA) 12 $3,290,000 $274,167 $2,386 3.91%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 6 $2,020,000 $336,667 $4,045 3.60%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 9 $1,835,000 $203,889 $3,856 3.92%
    GAINESVILLE, FL (FHA|USDA|VA) 5 $1,425,000 $285,000 $0 3.83%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 6 $1,250,000 $208,333 $3,869 3.63%
    OCALA, FL (FHA|USDA|VA) 9 $1,145,000 $127,222 $2,983 4.45%
    TALLAHASSEE, FL (FHA|USDA|VA) 6 $740,000 $123,333 $3,950 4.62%
    THE VILLAGES, FL (FHA|USDA|VA) 7 $695,000 $99,286 $2,728 4.98%
    PANAMA CITY, FL (FHA|USDA|VA) 2 $300,000 $150,000 $2,765 3.31%
    Key West, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 6.00%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $95,000 $95,000 $0 3.75%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $75,000 $75,000 $0 5.75%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $75,000 $75,000 $2,305 4.38%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.50%
    Outside of Metro Areas 1 $45,000 $45,000 $0 3.13%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.70%
    Fairwinds Credit Union's top markets include Orlando, Deltona, Tampa, Lakeland, and Palm Bay 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: 342
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 441
    COMMUNITY CREDIT UNION OF FLORIDA
    Similarity Rank: 927
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1056
    Citizens First Bank
    Similarity Rank: 1072
    JAX
    Similarity Rank: 1078
    SAN ANTONIO CITIZENS
    Similarity Rank: 1105
    FIRST EQUITY MORTGAGE INCORPORATED
    Similarity Rank: 1216
    DYBN FINANCIAL CORP.
    Similarity Rank: 1260
    Brannen Bank
    Similarity Rank: 1265

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,930 $418,600,000 $216,891 $3,440 3.78%
    HELOC 816 $45,210,000 $55,404 n/a 6.03%

    For 2019, Fairwinds Credit Union's most frequently originated type of loan was Conventional, with 1,930 originations. Their 2nd most popular type was HELOC, with 816 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 916 $179,020,000 $195,437 $2,984 3.78%
    Home Purchase 789 $185,005,000 $234,480 $3,696 4.04%
    Home Improvement 511 $46,545,000 $91,086 $3,392 5.40%
    Cash Out Refi 409 $46,795,000 $114,413 $3,161 5.07%
    Other 121 $6,445,000 $53,264 $3,376 6.00%

    For 2019, Fairwinds Credit Union's most frequently cited loan purpose was Refi, with 916 originations. The 2nd most popular reason was Home Purchase, with 789 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,186 $245,640,000 $207,116 $3,498 4.43%
    15 Year 718 $127,470,000 $177,535 $2,828 3.66%
    10 Year 438 $27,100,000 $61,872 $2,682 5.55%
    20 Year 315 $49,365,000 $156,714 $2,980 4.61%
    5 Year 76 $6,970,000 $91,711 $0 5.18%
    Other 8 $4,930,000 $616,250 $4,180 3.93%
    30+ year 5 $2,335,000 $467,000 $0 3.90%

    For 2019, Fairwinds Credit Union's most frequently cited loan duration was 30 Year, with 1,186 originations. The 2nd most popular length was 15 Year, with 718 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,373 $283,655,000 $206,595
    $1k-2k 403 $87,465,000 $217,035
    $2k-3k 87 $21,905,000 $251,782
    $3k-4k 26 $7,080,000 $272,308
    $5k+ 16 $6,420,000 $401,250
    $4k-5k 10 $3,530,000 $353,000

    Fairwinds Credit Union's average total fees were $3,498, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,373 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,017 $224,845,000 $221,087
    4-5% 622 $117,340,000 $188,650
    5-6% 384 $27,050,000 $70,443
    2.5-3% 340 $72,160,000 $212,235
    6-7% 232 $12,810,000 $55,216
    7-8% 139 $6,655,000 $47,878
    <2.5% 11 $2,765,000 $251,364
    Over 8% 1 $185,000 $185,000

    During 2019, Fairwinds Credit Union's average interest rate for loans was 4.43%, while their most frequently originated rate bucket for loans was 3-4%, with 1,017 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 934 $48,920,000 $52,377 $2,424 5.60%
    $100k-200k 884 $132,490,000 $149,876 $3,009 3.91%
    $200k-400k 810 $215,980,000 $266,642 $3,837 3.81%
    $400k-600k 89 $42,505,000 $477,584 $4,936 3.64%
    $600k-1MM 24 $17,580,000 $732,500 $0 3.82%
    $1MM+ 5 $6,335,000 $1,267,000 $0 3.52%

    2019 saw Fairwinds Credit Union place emphasis on $100,000 or less loans with 934 originations, totaling $48,920,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 688 $90,520,000 $131,570 $3,209 4.52%
    $100k-150k 627 $119,655,000 $190,837 $3,809 4.39%
    $75k-100k 547 $87,525,000 $160,009 $3,508 4.48%
    $50k or less 446 $43,810,000 $98,229 $2,987 4.47%
    $150k-250k 334 $80,350,000 $240,569 $3,977 4.37%
    $250k+ 92 $33,870,000 $368,152 $3,970 4.24%

    Fairwinds Credit Union lent most frequently to those with incomes in the $50k-75k range, with 688 originations. The second most popular income band? $100k-150k, with 627 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 664 $114,280,000 $172,108 $3,578 4.22%
    30-36% 580 $102,050,000 $175,948 $3,434 4.48%
    <20% 180 $28,790,000 $159,944 $2,874 4.05%
    39% 123 $17,435,000 $141,748 $3,204 4.90%
    38% 118 $20,250,000 $171,610 $3,686 4.54%
    37% 116 $18,570,000 $160,086 $3,572 4.80%
    36% 107 $17,675,000 $165,187 $3,701 4.65%
    43% 102 $16,830,000 $165,000 $3,570 4.42%
    44% 98 $15,100,000 $154,082 $3,557 4.46%
    42% 96 $13,740,000 $143,125 $3,286 4.77%
    41% 95 $15,845,000 $166,789 $3,082 4.91%
    40% 86 $12,120,000 $140,930 $3,176 4.47%
    47% 70 $11,290,000 $161,286 $3,364 4.39%
    49% 70 $12,220,000 $174,571 $3,347 4.38%
    45% 66 $12,580,000 $190,606 $3,793 4.40%
    46% 63 $11,215,000 $178,016 $3,719 4.34%
    48% 52 $9,070,000 $174,423 $3,136 4.46%
    50-60% 47 $6,365,000 $135,426 $0 4.68%
    >60% 1 $305,000 $305,000 $0 5.00%

    Fairwinds Credit Union lent most frequently to those with DTI ratios of 20-30%, with 664 originations. The next most common DTI ratio? 30-36%, with 580 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,059 $327,795,000 $159,201 $3,472 4.55%
    Not provided 354 $72,890,000 $205,904 $3,369 3.91%
    Asian 141 $29,415,000 $208,617 $3,229 3.83%
    Black 136 $21,850,000 $160,662 $3,423 4.57%
    Not applicable 28 $9,170,000 $327,500 $532 5.16%
    American Indian 23 $2,325,000 $101,087 $3,874 5.30%
    Native Hawaiian or Islander 5 $365,000 $73,000 $0 6.16%

    Approval Rates

    Total approvals of all applications
    82.39%

    Fairwinds Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    67.73%

    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
    0.0 2 $90,000 $45,000
    NA 2,744 $463,720,000 $168,994

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $7,090,000 $886,250
    Single Family (1-4 Units):Manufactured 19 $1,875,000 $98,684
    Single Family (1-4 Units):Site-Built 2,719 $454,845,000 $167,284

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 377 $31,315,000 $83,064 $2,727 5.17%
    40-60% 436 $69,100,000 $158,486 $2,842 3.71%
    60-80% 836 $194,420,000 $232,560 $3,477 3.79%
    80-100% 592 $148,680,000 $251,149 $3,603 4.03%
    Under 20% 505 $20,295,000 $40,188 $0 6.12%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Fairway Independent Mortgage Corporation Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 6 28.6%
    Fairway Independent Mortgage Corporation Conventional home mortgage Closing on a mortgage 4 19.0%
    Fairway Independent Mortgage Corporation Conventional home mortgage Struggling to pay mortgage 1 4.8%
    Fairway Independent Mortgage Corporation Conventional home mortgage Trouble during payment process 4 19.0%
    Fairway Independent Mortgage Corporation FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 14.3%
    Fairway Independent Mortgage Corporation Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 9.5%
    Fairway Independent Mortgage Corporation VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 4.8%