First Florida Credit Union Mortgage Rates, Fees & Info

Jacksonville, FL

LEI: 549300EYKSNFOZRIBC29

Tax ID: 59-0705380

5 stars - out of 5 stars, based on 23 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First Florida Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. First Florida Credit Union has a high proportion of conventional loans. Their top markets include Jacksonville, Tallahassee, Miami, Orlando, and Tampa among others. First Florida Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. First Florida Credit Union is typically an average fee lendor.


Originations

529

Origination Dollar Volume (All Markets)

$92,055,000

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 rate mortgage of loans were 3.24%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.09%.

Relative Fees

First Florida Credit Union's average total fees for a 30 year fixed rate mortgage are $4,476.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
JACKSONVILLE, FL (FHA|USDA|VA) 137 $25,385,000 $185,292 $2,627 3.37%
TALLAHASSEE, FL (FHA|USDA|VA) 154 $24,670,000 $160,195 $2,826 3.03%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 92 $17,660,000 $191,957 $3,049 3.06%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 48 $8,500,000 $177,083 $3,280 3.24%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 14 $2,520,000 $180,000 $2,734 3.03%
Outside of Metro Areas 16 $2,290,000 $143,125 $4,244 2.86%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 10 $1,480,000 $148,000 $3,766 3.24%
GAINESVILLE, FL (FHA|USDA|VA) 7 $1,125,000 $160,714 $3,063 3.63%
PORT ST. LUCIE, FL (FHA|USDA|VA) 7 $1,055,000 $150,714 $2,670 2.89%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 4 $730,000 $182,500 $2,518 3.17%
PANAMA CITY, FL (FHA|USDA|VA) 4 $720,000 $180,000 $1,774 3.71%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 4 $680,000 $170,000 $2,906 2.94%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $630,000 $315,000 $6,619 3.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $500,000 $250,000 $3,667 3.31%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $495,000 $495,000 $4,728 3.00%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 3 $395,000 $131,667 $3,743 3.04%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $390,000 $195,000 $4,995 2.75%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $310,000 $155,000 $3,811 2.63%
VALDOSTA, GA (FHA|USDA|VA) 1 $265,000 $265,000 $7,646 3.25%
THE VILLAGES, FL (FHA|USDA|VA) 1 $245,000 $245,000 $3,293 3.38%
SPRINGFIELD, MO (FHA|USDA|VA) 2 $240,000 $120,000 $3,839 3.19%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $220,000 $110,000 $3,988 3.06%
Key West, FL (FHA|USDA|VA) 2 $210,000 $105,000 $1,546 3.27%
Moultrie, GA (FHA|USDA|VA) 1 $205,000 $205,000 $3,308 4.38%
OCALA, FL (FHA|USDA|VA) 2 $190,000 $95,000 $2,817 2.94%
Palatka, FL (FHA|USDA|VA) 1 $185,000 $185,000 $6,209 3.88%
North Platte, NE (FHA|USDA|VA) 1 $155,000 $155,000 $2,032 3.38%
Thomasville, GA (FHA|USDA|VA) 1 $135,000 $135,000 $1,788 2.38%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $115,000 $115,000 $3,869 3.50%
Sevierville, TN (FHA|USDA|VA) 1 $105,000 $105,000 $925 4.16%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.50%
Lake City, FL (FHA|USDA|VA) 1 $85,000 $85,000 $0 7.25%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $45,000 $45,000 $253 2.25%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $35,000 $35,000 $228 4.66%

First Florida Credit Union's top markets include Jacksonville, Tallahassee, Miami, Orlando, and Tampa among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 517 $89,015,000 $172,176 $2,870 3.18%
VA 12 $3,040,000 $253,333 $6,369 3.10%

For the 2021 period, First Florida Credit Union's most frequently originated loan type of loans were Conventional, with 517 originations. Their 2nd most popular type is VA, with 12 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 201 $34,005,000 $169,179 $2,671 3.07%
Refi 165 $27,925,000 $169,242 $2,773 2.82%
Home Purchase 87 $21,075,000 $242,241 $5,331 3.48%
Home Improvement 52 $7,440,000 $143,077 $2,194 3.72%
Other 24 $1,610,000 $67,083 $208 4.24%

For the 2021, First Florida Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 201 originations. The 2nd most popular reason of loans were Refi, with 165 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 215 $48,745,000 $226,721 $4,476 3.24%
15 Year 101 $17,455,000 $172,822 $3,382 2.70%
Other 90 $12,090,000 $134,333 $860 2.81%
20 Year 85 $9,995,000 $117,588 $1,759 4.16%
10 Year 38 $3,770,000 $99,211 $652 2.77%

For the 2021, First Florida Credit Union's most frequently cited loan length of loans were 30 Year, with 215 originations. The 2nd most popular length of loans were 15 Year, with 101 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 149 $30,465,000 $204,463
$1k-2k 108 $20,470,000 $189,537
$2k-3k 46 $9,190,000 $199,783
$3k-4k 42 $9,970,000 $237,381
$5k+ 17 $5,215,000 $306,765

$4,476 of loans were First Florida Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 149 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 217 $38,635,000 $178,041
3-4% 172 $38,350,000 $222,965
<2.5% 78 $9,580,000 $122,821
4-5% 42 $4,110,000 $97,857
5-6% 16 $1,120,000 $70,000
6-7% 2 $120,000 $60,000
7-8% 2 $140,000 $70,000

During 2021, First Florida Credit Union's average interest rate of loans were 3.24%, while their most frequently originated rate bucket of loans were 2.5-3%, with 217 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 220 $31,560,000 $143,455 $2,543 3.00%
$200k-400k 169 $44,585,000 $263,817 $4,560 3.16%
$100,000 or less 126 $8,250,000 $65,476 $925 3.49%
$400k-600k 11 $5,225,000 $475,000 $7,592 3.24%
$600k-1MM 2 $1,390,000 $695,000 $5,075 3.56%
$1MM+ 1 $1,045,000 $1,045,000 $7,692 3.25%

2021 saw First Florida Credit Union place emphasis on $100k-200k loans with 220 originations, totaling $31,560,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 146 $21,730,000 $148,836 $3,008 3.21%
$100k-150k 128 $24,850,000 $194,141 $2,979 3.23%
$75k-100k 108 $18,960,000 $175,556 $3,012 3.18%
$50k or less 77 $8,855,000 $115,000 $2,477 3.01%
$150k-250k 51 $11,745,000 $230,294 $3,162 3.25%
$250k+ 12 $4,780,000 $398,333 $4,378 3.18%

First Florida Credit Union lent most frequently to those with incomes in the $50k-75k range, with 146 originations. The second most popular income band? $100k-150k, with 128 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 138 $22,990,000 $166,594 $2,671 3.18%
30-36% 104 $18,170,000 $174,712 $2,861 3.18%
<20% 48 $6,010,000 $125,208 $2,272 2.83%
42% 26 $4,170,000 $160,385 $1,839 3.32%
41% 22 $2,790,000 $126,818 $2,404 3.52%
44% 22 $3,930,000 $178,636 $3,901 3.36%
43% 21 $4,555,000 $216,905 $3,021 3.14%
36% 21 $2,995,000 $142,619 $2,738 3.05%
37% 20 $3,810,000 $190,500 $2,922 3.38%
39% 17 $3,095,000 $182,059 $2,881 3.32%
40% 17 $3,145,000 $185,000 $2,818 3.09%
38% 15 $2,325,000 $155,000 $3,473 3.25%
49% 14 $3,310,000 $236,429 $4,326 3.15%
48% 10 $2,740,000 $274,000 $6,066 3.04%
46% 9 $2,235,000 $248,333 $4,635 2.92%
45% 9 $1,955,000 $217,222 $4,015 3.31%
47% 8 $1,730,000 $216,250 $4,104 3.07%
50-60% 6 $1,550,000 $258,333 $4,659 3.49%

First Florida Credit Union lent most frequently to those with DTI ratios of 20-30%, with 138 originations. The next most common DTI ratio? 30-36%, with 104 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 316 $55,480,000 $175,570 $3,028 3.19%
Not provided 100 $18,170,000 $181,700 $3,309 3.21%
Black 98 $16,390,000 $167,245 $2,514 3.16%
Asian 12 $1,800,000 $150,000 $2,227 2.98%
Other Asian 2 $140,000 $70,000 $260 2.58%
Native Hawaiian 1 $75,000 $75,000 $235 2.25%

Approval Rates

Total approvals of all applications
85.69%

First Florida Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
40.23%

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
2351.39 1 $75,000 $75,000
3990.6 1 $145,000 $145,000
799.0 5 $285,000 $57,000
NA 522 $91,550,000 $175,383

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
529 $92,055,000 $174,017

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 79 $7,835,000 $99,177 $1,197 2.98%
40-60% 130 $19,950,000 $153,462 $2,468 2.91%
60-80% 175 $36,565,000 $208,943 $3,669 3.12%
80-100% 99 $25,225,000 $254,798 $5,062 3.41%
Under 20% 46 $2,480,000 $53,913 $252 4.01%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
First Technology Federal Credit Union Conventional home mortgage Incorrect information on your report 1 14.3%
First Technology Federal Credit Union Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
First Technology Federal Credit Union Conventional home mortgage Closing on a mortgage 1 14.3%
First Technology Federal Credit Union Other type of mortgage Trouble during payment process 1 14.3%
First Technology Federal Credit Union Conventional home mortgage Trouble during payment process 2 28.6%
First Technology Federal Credit Union FHA mortgage Struggling to pay mortgage 1 14.3%