First Florida Credit Union Mortgage Rates, Fees & Info

Jacksonville, FL

LEI: 549300EYKSNFOZRIBC29

Tax ID: 59-0705380

5 stars - Updated: 11/17/24 - out of 5 stars, based on 15 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    First Florida Credit Union is a smaller credit union specializing in Other, Cash Out Refi, and Home Purchase loans. First Florida Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Jacksonville, Miami, Tallahassee, Orlando, and Greenville among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Florida 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. First Florida 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 6.98% 11/17/24
    30 Year Conventional Refi 6.81% 11/17/24
    30 Year Cash-out Refi 6.92% 11/17/24
    30 Year FHA Purchase 6.27% 11/17/24
    30 Year VA Purchase 6.44% 11/17/24
    15 Year Conventional Purchase 6.39% 11/17/24
    15 Year Conventional Refi 6.15% 11/17/24
    15 Year Cash-out Refi 6.15% 11/17/24
    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.

    First Florida Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from First Florida 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

    217

    Origination Dollar Volume (All Markets)

    $32,125,000

    Awards

    FIRST FLORIDA Credit Union 30 Year Conventional Loans silver FIRST FLORIDA Credit Union 30 Year Conventional Loans gold
    Show all (2) awards

    Relative Rate

    First Florida Credit Union's average 30 year fixed mortgage rate was 6.88%.

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

    This yields a difference of 0.4%.

    Relative Fees (Closing Costs)

    First Florida Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,379.

    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
    JACKSONVILLE, FL (FHA|USDA|VA) 75 $9,195,000 $122,600 $1,336 6.63%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 36 $7,650,000 $212,500 $2,351 6.55%
    TALLAHASSEE, FL (FHA|USDA|VA) 56 $6,400,000 $114,286 $1,820 6.64%
    Outside of Metro Areas 8 $1,500,000 $187,500 $3,063 6.67%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 11 $1,295,000 $117,727 $1,788 6.48%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $905,000 $905,000 $4,836 6.75%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 4 $820,000 $205,000 $2,766 7.80%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 6 $730,000 $121,667 $2,297 6.55%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $725,000 $725,000 $6,320 7.00%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $620,000 $310,000 $4,485 6.81%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $335,000 $111,667 $394 6.32%
    OCALA, FL (FHA|USDA|VA) 3 $335,000 $111,667 $2,905 7.26%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $275,000 $275,000 $3,373 7.38%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $245,000 $245,000 $3,887 6.25%
    CLEVELAND, TN (FHA|USDA|VA) 1 $205,000 $205,000 $3,676 7.38%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $185,000 $185,000 $4,004 6.00%
    Cullowhee, NC (FHA|USDA|VA) 1 $155,000 $155,000 $3,951 6.63%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $155,000 $155,000 $4,634 6.25%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $155,000 $155,000 $2,943 6.50%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $85,000 $85,000 $354 7.16%
    Waycross, GA (FHA|USDA|VA) 1 $65,000 $65,000 $2,823 8.00%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $45,000 $45,000 $149 7.66%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $45,000 $45,000 $223 5.40%
    First Florida Credit Union's top markets include Jacksonville, Miami, Tallahassee, Orlando, and Greenville among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Similar Lenders

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

    FIRST COMMERCE CREDIT UNION
    Similarity Rank: 138
    Envision Credit Union
    Similarity Rank: 240
    FineMark National Bank & Trust
    Similarity Rank: 280
    ORLANDO CREDIT UNION
    Similarity Rank: 459
    We Florida Financial
    Similarity Rank: 476
    Coastline Federal Credit Union
    Similarity Rank: 574
    SOUTH FLORIDA EDUCATIONAL
    Similarity Rank: 588
    JAX
    Similarity Rank: 711
    121 FINANCIAL
    Similarity Rank: 760
    ADDITION FINANCIAL
    Similarity Rank: 804

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 217 $32,125,000 $148,041 $1,917 6.65%

    For 2023, First Florida Credit Union's most frequently originated type of loan was Conventional, with 217 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 75 $6,445,000 $85,933 $267 6.70%
    Cash Out Refi 47 $7,005,000 $149,043 $2,265 6.66%
    Home Improvement 43 $4,485,000 $104,302 $329 6.49%
    Home Purchase 40 $11,110,000 $277,750 $5,792 6.81%
    Refi 12 $3,080,000 $256,667 $3,694 6.27%

    For 2023, First Florida Credit Union's most frequently cited loan purpose was Other, with 75 originations. The 2nd most popular reason was Cash Out Refi, with 47 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 130 $13,230,000 $101,769 $393 6.69%
    30 Year 63 $15,955,000 $253,254 $5,379 6.88%
    Other 13 $1,235,000 $95,000 $281 5.58%
    10 Year 6 $330,000 $55,000 $237 5.49%
    15 Year 4 $360,000 $90,000 $2,330 6.49%
    30+ year 1 $1,015,000 $1,015,000 $12,056 7.25%

    For 2023, First Florida Credit Union's most frequently cited loan duration was 20 Year, with 130 originations. The 2nd most popular length was 30 Year, with 63 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 27 $8,015,000 $296,852
    $1k-2k 13 $2,725,000 $209,615
    $5k+ 10 $3,040,000 $304,000
    $3k-4k 8 $1,860,000 $232,500
    $2k-3k 7 $1,295,000 $185,000
    $4k-5k 2 $480,000 $240,000

    First Florida Credit Union's average total fees were $5,379, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 27 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 134 $19,600,000 $146,269
    7-8% 47 $7,525,000 $160,106
    5-6% 26 $3,880,000 $149,231
    Over 8% 8 $930,000 $116,250
    4-5% 2 $190,000 $95,000

    During 2023, First Florida Credit Union's average interest rate for loans was 6.88%, while their most frequently originated rate bucket for loans was 6-7%, with 134 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 102 $6,090,000 $59,706 $402 6.61%
    $100k-200k 63 $8,535,000 $135,476 $1,595 6.61%
    $200k-400k 39 $10,065,000 $258,077 $5,027 6.79%
    $400k-600k 10 $4,790,000 $479,000 $5,720 6.58%
    $600k-1MM 2 $1,630,000 $815,000 $5,578 6.88%
    $1MM+ 1 $1,015,000 $1,015,000 $12,056 7.25%

    2023 saw First Florida Credit Union place emphasis on $100,000 or less loans with 102 originations, totaling $6,090,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 69 $9,115,000 $132,101 $1,538 6.73%
    $50k-75k 39 $4,685,000 $120,128 $2,686 6.56%
    $150k-250k 38 $5,820,000 $153,158 $1,021 6.68%
    $75k-100k 38 $5,140,000 $135,263 $2,335 6.65%
    $250k+ 16 $5,950,000 $371,875 $3,019 6.56%
    $50k or less 16 $1,360,000 $85,000 $1,840 6.47%

    First Florida Credit Union lent most frequently to those with incomes in the $100k-150k range, with 69 originations. The second most popular income band? $50k-75k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 53 $6,185,000 $116,698 $1,522 6.36%
    30-36% 46 $6,700,000 $145,652 $1,901 6.72%
    38% 14 $1,540,000 $110,000 $842 6.80%
    40% 12 $3,060,000 $255,000 $3,186 7.01%
    42% 11 $1,635,000 $148,636 $1,707 6.83%
    44% 11 $1,045,000 $95,000 $760 6.69%
    39% 9 $1,185,000 $131,667 $807 6.41%
    37% 8 $960,000 $120,000 $1,383 6.83%
    41% 8 $1,100,000 $137,500 $1,166 6.98%
    45% 7 $1,455,000 $207,857 $3,512 6.37%
    36% 7 $1,035,000 $147,857 $2,107 6.59%
    46% 6 $1,830,000 $305,000 $4,879 7.00%
    43% 6 $1,270,000 $211,667 $2,007 6.86%
    49% 6 $1,160,000 $193,333 $4,980 6.90%
    <20% 5 $585,000 $117,000 $200 5.91%
    48% 4 $1,000,000 $250,000 $6,750 7.06%
    47% 1 $195,000 $195,000 $4,933 7.38%
    50-60% 1 $55,000 $55,000 $223 6.16%
    >60% 1 $75,000 $75,000 $111 7.16%

    First Florida Credit Union lent most frequently to those with DTI ratios of 20-30%, with 53 originations. The next most common DTI ratio? 30-36%, with 46 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 144 $22,020,000 $152,917 $1,869 6.64%
    Not provided 36 $5,860,000 $162,778 $2,526 6.74%
    Black 33 $3,885,000 $117,727 $1,569 6.56%
    Asian 3 $275,000 $91,667 $1,284 6.44%
    Native Hawaiian or Islander 1 $85,000 $85,000 $122 7.16%

    Approval Rates

    Total approvals of all applications
    75.16%

    First Florida Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    55.30%

    First Florida 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 217 $32,125,000 $148,041

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    217 $32,125,000 $148,041

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 60 $8,020,000 $133,667 $662 6.56%
    40-60% 20 $3,690,000 $184,500 $4,227 6.53%
    60-80% 26 $7,730,000 $297,308 $5,006 6.82%
    80-100% 24 $6,580,000 $274,167 $5,564 6.91%
    Under 20% 87 $6,105,000 $70,172 $325 6.61%