First Florida Credit Union Mortgage Rates, Fees & Info

Jacksonville, FL

LEI: 549300EYKSNFOZRIBC29

Tax ID: 59-0705380

4.3 stars - out of 5 stars, based on 18 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    First Florida Credit Union is a smaller credit union specializing in 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, Tallahassee, Miami, Orlando, and Atlanta among others. We have data for 29 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 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.

    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% 3/27/23
    30 Year Conventional Refi 6.81% 3/27/23
    30 Year Cash-out Refi 6.92% 3/27/23
    30 Year FHA Purchase 6.27% 3/27/23
    30 Year VA Purchase 6.44% 3/27/23
    15 Year Conventional Purchase 6.39% 3/27/23
    15 Year Conventional Refi 6.15% 3/27/23
    15 Year Cash-out Refi 6.15% 3/27/23
    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.


    Originations

    342

    Origination Dollar Volume (All Markets)

    $51,100,000

    Awards

    FIRST FLORIDA Credit Union 30 Year Conventional Loans bronze
    Show all (1) awards

    Relative Rate

    First Florida Credit Union's average 30 year fixed mortgage rate was 4.89%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.13%.

    Relative Fees (Closing Costs)

    First Florida Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $6,790.

    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 $4,750.

    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) 97 $13,715,000 $141,392 $2,012 4.38%
    TALLAHASSEE, FL (FHA|USDA|VA) 99 $13,425,000 $135,606 $2,809 4.21%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 61 $8,995,000 $147,459 $2,472 4.56%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 21 $3,875,000 $184,524 $2,245 4.05%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 5 $1,475,000 $295,000 $7,523 4.88%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 8 $1,440,000 $180,000 $4,843 5.16%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 6 $1,240,000 $206,667 $2,360 4.38%
    Outside of Metro Areas 13 $1,175,000 $90,385 $1,305 4.19%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 5 $865,000 $173,000 $4,544 4.84%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $535,000 $178,333 $660 4.99%
    RICHMOND, VA (FHA|USDA|VA) 1 $485,000 $485,000 $3,913 6.00%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $435,000 $435,000 $9,912 3.38%
    OCALA, FL (FHA|USDA|VA) 3 $385,000 $128,333 $2,475 4.86%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $360,000 $180,000 $4,928 4.56%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $355,000 $355,000 $5,797 3.63%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $305,000 $305,000 $6,935 7.63%
    Palatka, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,882 5.00%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $235,000 $235,000 $8,034 4.75%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $235,000 $235,000 $5,879 4.50%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $200,000 $100,000 $3,235 4.21%
    PANAMA CITY, FL (FHA|USDA|VA) 2 $190,000 $95,000 $190 4.21%
    VALDOSTA, GA (FHA|USDA|VA) 1 $185,000 $185,000 $3,729 6.00%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $165,000 $165,000 $5,670 4.75%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $165,000 $165,000 $3,808 4.88%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $135,000 $135,000 $7,061 4.88%
    Georgetown, SC (FHA|USDA|VA) 1 $105,000 $105,000 $4,031 3.25%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $85,000 $85,000 $2,007 3.38%
    Thomasville, GA (FHA|USDA|VA) 1 $55,000 $55,000 $4,068 2.63%
    Okeechobee, FL (FHA|USDA|VA) 1 $25,000 $25,000 $362 2.66%
    First Florida Credit Union's top markets include Jacksonville, Tallahassee, Miami, Orlando, and Atlanta among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • North Carolina (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.

    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 167
    Gulf Winds Credit Union
    Similarity Rank: 240
    Envision Credit Union
    Similarity Rank: 429
    FIRST COMMERCE CREDIT UNION
    Similarity Rank: 437
    Citizens First Bank
    Similarity Rank: 1272
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 1272
    We Florida Financial
    Similarity Rank: 1416
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 1680
    AMERANT BANK, NATIONAL ASSOCIATION
    Similarity Rank: 1746
    IVY MORTGAGE, INC.
    Similarity Rank: 2242

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 336 $49,270,000 $146,637 $2,490 4.38%
    VA 6 $1,830,000 $305,000 $11,489 4.46%

    For 2022, First Florida Credit Union's most frequently originated type of loan was Conventional, with 336 originations. Their 2nd most popular type was VA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 116 $18,720,000 $161,379 $2,866 3.81%
    Other 70 $5,700,000 $81,429 $224 4.83%
    Home Purchase 67 $18,195,000 $271,567 $7,218 5.26%
    Home Improvement 57 $4,245,000 $74,474 $272 4.59%
    Refi 32 $4,240,000 $132,500 $2,137 3.24%

    For 2022, First Florida Credit Union's most frequently cited loan purpose was Cash Out Refi, with 116 originations. The 2nd most popular reason was Other, with 70 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 132 $11,350,000 $85,985 $530 4.81%
    30 Year 105 $27,055,000 $257,667 $6,790 4.89%
    Other 66 $7,870,000 $119,242 $644 3.23%
    10 Year 20 $1,700,000 $85,000 $280 3.43%
    15 Year 19 $3,125,000 $164,474 $3,808 3.61%

    For 2022, First Florida Credit Union's most frequently cited loan duration was 20 Year, with 132 originations. The 2nd most popular length was 30 Year, with 105 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 26 $9,040,000 $347,692
    $1k-2k 24 $4,640,000 $193,333
    $<1k 23 $5,345,000 $232,391
    $2k-3k 22 $3,710,000 $168,636
    $4k-5k 19 $5,325,000 $280,263
    $3k-4k 16 $3,340,000 $208,750

    First Florida Credit Union's average total fees were $6,790, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 26 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 129 $15,835,000 $122,752
    5-6% 66 $10,190,000 $154,394
    2.5-3% 55 $7,555,000 $137,364
    3-4% 53 $10,985,000 $207,264
    6-7% 18 $3,820,000 $212,222
    <2.5% 13 $1,005,000 $77,308
    7-8% 8 $1,710,000 $213,750

    During 2022, First Florida Credit Union's average interest rate for loans was 4.89%, while their most frequently originated rate bucket for loans was 4-5%, with 129 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 145 $8,385,000 $57,828 $473 4.31%
    $100k-200k 108 $15,240,000 $141,111 $2,174 4.28%
    $200k-400k 76 $21,030,000 $276,711 $6,377 4.58%
    $400k-600k 11 $5,195,000 $472,273 $8,350 4.41%
    $600k-1MM 2 $1,250,000 $625,000 $14,371 6.69%

    2022 saw First Florida Credit Union place emphasis on $100,000 or less loans with 145 originations, totaling $8,385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 92 $16,460,000 $178,913 $2,945 4.43%
    $50k-75k 81 $9,305,000 $114,877 $2,423 4.21%
    $75k-100k 61 $9,845,000 $161,393 $3,594 4.46%
    $150k-250k 57 $9,845,000 $172,719 $2,042 4.44%
    $50k or less 40 $3,880,000 $97,000 $2,404 4.29%
    $250k+ 11 $1,765,000 $160,455 $772 4.76%

    First Florida Credit Union lent most frequently to those with incomes in the $100k-150k range, with 92 originations. The second most popular income band? $50k-75k, with 81 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 88 $11,800,000 $134,091 $1,999 4.11%
    30-36% 65 $8,275,000 $127,308 $1,762 4.13%
    <20% 29 $2,815,000 $97,069 $1,684 4.04%
    42% 21 $3,905,000 $185,952 $3,502 5.21%
    40% 20 $2,870,000 $143,500 $1,640 4.35%
    37% 17 $2,005,000 $117,941 $2,182 4.19%
    38% 16 $1,940,000 $121,250 $1,763 4.19%
    43% 15 $2,275,000 $151,667 $4,202 4.35%
    41% 14 $2,710,000 $193,571 $4,999 5.01%
    36% 13 $2,905,000 $223,462 $2,116 4.41%
    39% 10 $1,960,000 $196,000 $4,417 5.12%
    45% 8 $1,960,000 $245,000 $4,697 5.35%
    44% 7 $1,105,000 $157,857 $3,794 5.49%
    46% 6 $1,460,000 $243,333 $5,735 4.84%
    49% 5 $1,125,000 $225,000 $5,320 4.53%
    47% 3 $415,000 $138,333 $5,168 4.46%
    48% 3 $1,055,000 $351,667 $10,132 4.42%
    50-60% 2 $520,000 $260,000 $8,506 6.06%

    First Florida Credit Union lent most frequently to those with DTI ratios of 20-30%, with 88 originations. The next most common DTI ratio? 30-36%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 208 $28,670,000 $137,837 $2,099 4.33%
    Black 69 $10,815,000 $156,739 $3,290 4.26%
    Not provided 58 $10,430,000 $179,828 $3,824 4.73%
    Asian 6 $1,130,000 $188,333 $3,434 4.18%
    Other Asian 1 $55,000 $55,000 $129 4.16%

    Approval Rates

    Total approvals of all applications
    85.10%

    First Florida Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    47.37%

    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
    3953.47 1 $195,000 $195,000
    NA 341 $50,905,000 $149,282

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    342 $51,100,000 $149,415

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 73 $7,975,000 $109,247 $456 4.15%
    40-60% 53 $8,025,000 $151,415 $2,338 3.80%
    60-80% 57 $13,495,000 $236,754 $5,610 4.33%
    80-100% 54 $14,900,000 $275,926 $7,179 4.94%
    Over 100% 1 $385,000 $385,000 $20,716 5.13%
    Under 20% 104 $6,320,000 $60,769 $254 4.57%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST GUARANTY MORTGAGE CORP Conventional home mortgage Struggling to pay mortgage 1 100.0%