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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Florida Central Credit Union is a smaller credit union specializing in Refi loans. Florida Central Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Tampa, North Port, Punta Gorda, Lakeland, and Orlando among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Florida Central 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. 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 6.40% 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






    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

    294

    Origination Dollar Volume (All Markets)

    $35,430,000

    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) 162 $19,340,000 $119,383 $0 4.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 77 $9,925,000 $128,896 $0 3.84%
    PUNTA GORDA, FL (FHA|USDA|VA) 28 $3,170,000 $113,214 $0 3.87%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 15 $1,735,000 $115,667 $0 3.88%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 5 $485,000 $97,000 $0 3.98%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $450,000 $225,000 $0 3.06%
    Arcadia, FL (FHA|USDA|VA) 4 $230,000 $57,500 $0 4.72%
    OCALA, FL (FHA|USDA|VA) 1 $95,000 $95,000 $0 2.63%
    Florida Central Credit Union's top markets include Tampa, North Port, Punta Gorda, Lakeland, and Orlando among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 261 $33,835,000 $129,636 $0 3.92%
    HELOC 33 $1,595,000 $48,333 n/a 4.12%

    For 2020, Florida Central Credit Union's most frequently originated type of loan was Conventional, with 261 originations. Their 2nd most popular type was HELOC, with 33 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 137 $6,675,000 $48,723 $0 4.89%
    Refi 136 $24,260,000 $178,382 $0 3.09%
    Home Purchase 21 $4,495,000 $214,048 $0 3.28%

    For 2020, Florida Central Credit Union's most frequently cited loan purpose was Home Improvement, with 137 originations. The 2nd most popular reason was Refi, with 136 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 101 $15,045,000 $148,960 $0 3.59%
    10 Year 84 $4,370,000 $52,024 $0 4.75%
    30 Year 68 $13,660,000 $200,882 $0 3.33%
    5 Year 35 $1,065,000 $30,429 $0 4.27%
    20 Year 5 $1,275,000 $255,000 $0 3.45%
    Other 1 $15,000 $15,000 $0 4.25%

    For 2020, Florida Central Credit Union's most frequently cited loan duration was 15 Year, with 101 originations. The 2nd most popular length was 10 Year, with 84 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 91 $16,945,000 $186,209
    3-4% 80 $12,070,000 $150,875
    4-5% 49 $2,385,000 $48,673
    5-6% 47 $2,085,000 $44,362
    6-7% 23 $1,275,000 $55,435
    <2.5% 4 $670,000 $167,500

    During 2020, Florida Central Credit Union's average interest rate for loans was 3.33%, while their most frequently originated rate bucket for loans was 2.5-3%, with 91 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 155 $7,245,000 $46,742 $0 4.68%
    $100k-200k 84 $12,920,000 $153,810 $0 3.11%
    $200k-400k 49 $12,425,000 $253,571 $0 3.12%
    $400k-600k 6 $2,840,000 $473,333 $0 3.17%

    2020 saw Florida Central Credit Union place emphasis on $100,000 or less loans with 155 originations, totaling $7,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 72 $7,230,000 $100,417 $0 3.98%
    $100k-150k 62 $8,960,000 $144,516 $0 3.76%
    $50k or less 61 $4,175,000 $68,443 $0 4.31%
    $75k-100k 54 $6,940,000 $128,519 $0 3.88%
    $150k-250k 38 $6,700,000 $176,316 $0 3.54%
    $250k+ 7 $1,425,000 $203,571 $0 4.43%

    Florida Central Credit Union lent most frequently to those with incomes in the $50k-75k range, with 72 originations. The second most popular income band? $100k-150k, with 62 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 92 $13,600,000 $147,826 $0 3.66%
    30-36% 62 $7,620,000 $122,903 $0 3.92%
    <20% 40 $4,750,000 $118,750 $0 3.61%
    43% 14 $800,000 $57,143 $0 4.49%
    37% 13 $1,415,000 $108,846 $0 4.19%
    44% 11 $1,045,000 $95,000 $0 4.52%
    42% 10 $840,000 $84,000 $0 4.76%
    41% 10 $610,000 $61,000 $0 4.75%
    39% 8 $880,000 $110,000 $0 4.06%
    45% 7 $915,000 $130,714 $0 3.79%
    48% 6 $690,000 $115,000 $0 4.21%
    36% 6 $480,000 $80,000 $0 4.21%
    40% 5 $385,000 $77,000 $0 4.55%
    46% 3 $245,000 $81,667 $0 4.33%
    47% 2 $500,000 $250,000 $0 3.06%
    49% 2 $430,000 $215,000 $0 3.94%
    38% 2 $160,000 $80,000 $0 4.19%
    50-60% 1 $65,000 $65,000 $0 4.25%

    Florida Central Credit Union lent most frequently to those with DTI ratios of 20-30%, with 92 originations. The next most common DTI ratio? 30-36%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 266 $32,870,000 $123,571 $0 3.90%
    Black 18 $1,220,000 $67,778 $0 4.69%
    Not provided 7 $885,000 $126,429 $0 3.46%
    Asian 3 $455,000 $151,667 $0 4.00%

    Approval Rates

    Total approvals of all applications
    60.45%

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

    Pick Rate

    Approvals leading to origination
    88.10%

    Florida Central Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 294 $35,430,000 $120,510

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 294 $35,430,000 $120,510

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 45 $3,285,000 $73,000 $0 4.53%
    40-60% 55 $8,685,000 $157,909 $0 3.25%
    60-80% 75 $15,135,000 $201,800 $0 3.10%
    80-100% 24 $5,170,000 $215,417 $0 3.37%
    Under 20% 95 $3,155,000 $33,211 $0 4.87%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FLORIDA HOME TRUST MORTGAGE Conventional home mortgage Trouble during payment process 1 100.0%