Grow Financial Federal Credit Union Mortgage Rates, Fees & Info
Tampa, FLLEI: 549300FOCEH0X0ZOR362
Tax ID: 59-0772528
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Mortgage Data
Review & Overview
Grow Financial Federal Credit Union is a smaller credit union specializing in Other and Home Purchase loans. Grow Financial Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Tampa, North Port, Charleston, Columbia, and Orlando among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)Grow Financial Federal 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. Grow Financial Federal Credit Union is typically a low 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.82% | 4/21/24 |
| 30 Year Conventional Purchase | 6.31% | 4/21/24 |
| 30 Year Conventional Refi | 6.32% | 4/21/24 |
| 30 Year Cash-out Refi | 6.40% | 4/21/24 |
| 15 Year Conventional Purchase | 6.48% | 4/21/24 |
| 15 Year Conventional Refi | 5.83% | 4/21/24 |
| 15 Year Cash-out Refi | 5.83% | 4/21/24 |
| 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. | ||
Grow Financial Federal Credit Union Mortgage Calculator
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This is not an official calculator from Grow Financial Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,087Origination Dollar Volume (All Markets)
$112,525,000Awards
Grow Financial Federal Credit Union - 2018
Grow Financial Federal Credit Union is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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) | 899 | $88,925,000 | $98,915 | $1,880 | 4.93% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 81 | $9,055,000 | $111,790 | $1,559 | 4.96% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 17 | $4,295,000 | $252,647 | $1,422 | 4.66% |
| COLUMBIA, SC (FHA|USDA|VA) | 34 | $3,730,000 | $109,706 | $1,406 | 4.93% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 8 | $1,260,000 | $157,500 | $2,499 | 4.91% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 5 | $805,000 | $161,000 | $1,324 | 4.68% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $0 | 4.58% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 7 | $565,000 | $80,714 | $3,209 | 4.52% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $6,685 | 4.50% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,224 | 5.50% |
| Seneca, SC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,627 | 4.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $300,000 | $75,000 | $3,165 | 4.81% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $3,506 | 4.19% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 4 | $230,000 | $57,500 | $1,311 | 5.22% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 3 | $225,000 | $75,000 | $2,564 | 5.46% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,911 | 4.88% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 4 | $170,000 | $42,500 | $2,901 | 5.13% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $145,000 | $48,333 | $0 | 5.08% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 4.38% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 5.25% |
| Outside of Metro Areas | 2 | $130,000 | $65,000 | $0 | 4.63% |
| OCALA, FL (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 5.63% |
| Gaffney, SC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 5.00% |
| Palatka, FL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 7.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Grow Financial Federal 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 | 665 | $86,305,000 | $129,782 | $1,862 | 5.00% |
| HELOC | 422 | $26,220,000 | $62,133 | n/a | 4.82% |
For 2018, Grow Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 665 originations. Their 2nd most popular type was HELOC, with 422 originations.
Loan Reason
For 2018, Grow Financial Federal Credit Union's most frequently cited loan purpose was Other, with 528 originations. The 2nd most popular reason was Home Improvement, with 275 originations.
Loan Duration/Length
For 2018, Grow Financial Federal Credit Union's most frequently cited loan duration was 10 Year, with 465 originations. The 2nd most popular length was 30 Year, with 261 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 398 | $66,810,000 | $167,864 |
| $1k-2k | 1 | $175,000 | $175,000 |
| $2k-3k | 1 | $105,000 | $105,000 |
Grow Financial Federal Credit Union's average total fees were $2,199, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 398 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 764 | $80,690,000 | $105,615 |
| 5-6% | 201 | $19,925,000 | $99,129 |
| 6-7% | 55 | $2,645,000 | $48,091 |
| 3-4% | 39 | $8,005,000 | $205,256 |
| 7-8% | 18 | $730,000 | $40,556 |
During 2018, Grow Financial Federal Credit Union's average interest rate for loans was 4.69%, while their most frequently originated rate bucket for loans was 4-5%, with 764 originations.
Loan Sizing
2018 saw Grow Financial Federal Credit Union place emphasis on $100,000 or less loans with 709 originations, totaling $35,585,000 in origination value.
Applicant Income
Grow Financial Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 347 originations. The second most popular income band? $50k-75k, with 289 originations.
Applicant Debt to Income Ratio
Grow Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 213 originations. The next most common DTI ratio? 30-36%, with 153 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.43%
Grow Financial Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination87.86%
Grow Financial Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 540.0 | 1 | $25,000 | $25,000 |
| 800.0 | 1 | $15,000 | $15,000 |
| NA | 1,085 | $112,485,000 | $103,673 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,087 | $112,525,000 | $103,519 |