Florida Central Credit Union Mortgage Rates, Fees & Info

Tampa, FL

LEI: 5493007WNCT2YQ8O4H14

Tax ID: 59-0857430

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

Review & Overview

Florida Central Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Florida Central Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Tampa, Punta Gorda, North Port, and Lakeland among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Florida Central 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.

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	6.40%	12/4/24
30 Year Conventional Refi	6.63%	12/4/24
15 Year Conventional Purchase	5.68%	12/4/24
15 Year Conventional Refi	6.00%	12/4/24
15 Year Cash-out Refi	6.00%	12/4/24
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.

Florida Central Credit Union Mortgage Calculator

Purchase Price:

Loan Amount:

Deposit Amount:

% Deposit:

Interest Rate:

Loan Type:

Your Estimates

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

This is not an official calculator from Florida Central 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

Origination Dollar Volume (All Markets)

$2,200,000

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
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	22	$1,010,000	$45,909	$0	4.40%
PUNTA GORDA, FL (FHA\|USDA\|VA)	10	$620,000	$62,000	$0	4.14%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	9	$355,000	$39,444	$0	4.36%
LAKELAND-WINTER HAVEN, FL (FHA\|USDA\|VA)	3	$215,000	$71,667	$0	4.34%

Florida Central Credit Union's top markets include Tampa, Punta Gorda, North Port, and Lakeland among others.

Their top states include:

Florida (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	43	$2,005,000	$46,628	$0	4.33%
FHA	1	$195,000	$195,000	$0	4.35%

For 2018, Florida Central Credit Union's most frequently originated type of loan was Conventional, with 43 originations. Their 2nd most popular type was FHA, with 1 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	27	$1,325,000	$49,074	$0	4.34%
Home Improvement	13	$385,000	$29,615	$0	4.38%
Home Purchase	4	$490,000	$122,500	$0	4.10%

For 2018, Florida Central Credit Union's most frequently cited loan purpose was Refi, with 27 originations. The 2nd most popular reason was Home Improvement, with 13 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
10 Year	26	$1,120,000	$43,077	$0	4.42%
5 Year	9	$205,000	$22,778	$0	3.95%
Other	5	$465,000	$93,000	$0	4.60%
15 Year	4	$410,000	$102,500	$0	4.22%

For 2018, Florida Central Credit Union's most frequently cited loan duration was 10 Year, with 26 originations. The 2nd most popular length was 5 Year, with 9 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	33	$1,925,000	$58,333
3-4%	10	$240,000	$24,000
5-6%	1	$35,000	$35,000

During 2018, Florida Central Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 33 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	39	$1,465,000	$37,564	$0	4.33%
$100k-200k	5	$735,000	$147,000	$0	4.33%

2018 saw Florida Central Credit Union place emphasis on $100,000 or less loans with 39 originations, totaling $1,465,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$75k-100k	13	$825,000	$63,462	$0	4.35%
$50k-75k	12	$640,000	$53,333	$0	4.29%
$50k or less	10	$360,000	$36,000	$0	4.34%
$100k-150k	8	$340,000	$42,500	$0	4.33%
$150k-250k	1	$35,000	$35,000	$0	4.45%

Florida Central Credit Union lent most frequently to those with incomes in the $75k-100k range, with 13 originations. The second most popular income band? $50k-75k, with 12 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	13	$465,000	$35,769	$0	4.40%
<20%	8	$400,000	$50,000	$0	4.02%
40%	3	$115,000	$38,333	$0	4.47%
20-30%	3	$155,000	$51,667	$0	4.28%
41%	3	$135,000	$45,000	$0	4.22%
42%	3	$115,000	$38,333	$0	4.28%
43%	2	$60,000	$30,000	$0	4.73%
44%	2	$120,000	$60,000	$0	4.45%
49%	1	$145,000	$145,000	$0	4.13%
37%	1	$35,000	$35,000	$0	4.50%
39%	1	$35,000	$35,000	$0	4.45%
38%	1	$35,000	$35,000	$0	4.45%
46%	1	$35,000	$35,000	$0	4.45%

Florida Central Credit Union lent most frequently to those with DTI ratios of 30-36%, with 13 originations. The next most common DTI ratio? <20%, with 8 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	39	$2,035,000	$52,179	$0	4.34%
Not provided	2	$70,000	$35,000	$0	4.25%
Black	2	$60,000	$30,000	$0	4.10%
Asian	1	$35,000	$35,000	$0	4.45%

Approval Rates

Total approvals of all applications
71.26%

Florida Central Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
70.45%

Florida Central Credit Union has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	44	$2,200,000	$50,000

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	44	$2,200,000	$50,000

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	11	$505,000	$45,909	$0	4.19%
40-60%	3	$275,000	$91,667	$0	4.38%
60-80%	4	$340,000	$85,000	$0	4.32%
Under 20%	23	$705,000	$30,652	$0	4.37%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
FLORIDA HOME TRUST MORTGAGE	Conventional home mortgage	Trouble during payment process	1	100.0%