First Florida Credit Union Mortgage Rates, Fees & Info
Jacksonville, FLLEI: 549300EYKSNFOZRIBC29
Tax ID: 59-0705380
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Mortgage Data
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.
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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
342Origination Dollar Volume (All Markets)
$51,100,000Awards
FIRST FLORIDA Credit Union - 2022
FIRST FLORIDA Credit Union is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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% |
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.
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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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications85.10%
First Florida Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination47.37%
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 |
LTV Distribution
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% |