Grow Financial Federal Credit Union Mortgage Rates, Fees & Info

Tampa, FL

LEI: 549300FOCEH0X0ZOR362

Tax ID: 59-0772528

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Grow Financial Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Grow Financial Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Tampa, North Port, Columbia, Miami, and Charleston among others. We have data for 43 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.82% 4/18/24
    30 Year Conventional Purchase 6.31% 4/18/24
    30 Year Conventional Refi 6.32% 4/18/24
    30 Year Cash-out Refi 6.40% 4/18/24
    15 Year Conventional Purchase 6.48% 4/18/24
    15 Year Conventional Refi 5.83% 4/18/24
    15 Year Cash-out Refi 5.83% 4/18/24
    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






    Your Estimates

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

    This is not an official calculator from Grow Financial Federal 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

    1,232

    Origination Dollar Volume (All Markets)

    $179,330,000

    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) 972 $134,470,000 $138,344 $2,880 3.64%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 88 $14,660,000 $166,591 $3,084 3.48%
    COLUMBIA, SC (FHA|USDA|VA) 32 $5,510,000 $172,188 $2,810 3.33%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 13 $3,665,000 $281,923 $4,523 3.18%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 18 $3,150,000 $175,000 $2,832 3.42%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 16 $2,160,000 $135,000 $1,302 3.48%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 6 $1,420,000 $236,667 $4,861 3.19%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 2 $1,280,000 $640,000 $4,121 3.00%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 14 $1,250,000 $89,286 $3,237 3.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 6 $1,070,000 $178,333 $3,333 3.29%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $1,005,000 $335,000 $3,661 3.08%
    OCALA, FL (FHA|USDA|VA) 5 $975,000 $195,000 $3,200 3.45%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 9 $945,000 $105,000 $3,304 3.96%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 4 $900,000 $225,000 $3,206 3.34%
    Outside of Metro Areas 4 $900,000 $225,000 $2,745 3.41%
    Sevierville, TN (FHA|USDA|VA) 2 $740,000 $370,000 $5,024 3.63%
    GAINESVILLE, FL (FHA|USDA|VA) 2 $640,000 $320,000 $2,587 3.00%
    RALEIGH-CARY, NC (FHA|USDA|VA) 3 $595,000 $198,333 $2,468 3.54%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $445,000 $445,000 $4,986 2.50%
    PUNTA GORDA, FL (FHA|USDA|VA) 2 $420,000 $210,000 $3,420 3.50%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 4 $350,000 $87,500 $2,513 3.91%
    TALLAHASSEE, FL (FHA|USDA|VA) 1 $345,000 $345,000 $0 3.38%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $285,000 $285,000 $5,740 3.50%
    WINSTON-SALEM, NC (FHA|USDA|VA) 2 $230,000 $115,000 $3,096 4.25%
    Lake City, FL (FHA|USDA|VA) 1 $225,000 $225,000 $0 2.88%
    WILMINGTON, NC (FHA|USDA|VA) 1 $205,000 $205,000 $0 4.25%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,016 3.13%
    SAVANNAH, GA (FHA|USDA|VA) 1 $145,000 $145,000 $3,647 3.38%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $135,000 $135,000 $1,660 2.63%
    HUNTSVILLE, AL (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.75%
    LaGrange, GA-AL (FHA|USDA|VA) 1 $125,000 $125,000 $2,836 3.38%
    Arcadia, FL (FHA|USDA|VA) 1 $95,000 $95,000 $0 3.13%
    Greeneville, TN (FHA|USDA|VA) 1 $85,000 $85,000 $3,073 3.75%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $70,000 $35,000 $1,648 4.75%
    FLORENCE, SC (FHA|USDA|VA) 2 $70,000 $35,000 $475 3.50%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $70,000 $35,000 $0 3.25%
    SUMTER, SC (FHA|USDA|VA) 1 $65,000 $65,000 $0 3.88%
    GAINESVILLE, GA (FHA|USDA|VA) 1 $65,000 $65,000 $0 3.25%
    Shelby, NC (FHA|USDA|VA) 1 $65,000 $65,000 $3,654 4.25%
    Greenwood, SC (FHA|USDA|VA) 1 $65,000 $65,000 $0 3.25%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.25%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.25%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.25%
    Grow Financial Federal Credit Union's top markets include Tampa, North Port, Columbia, Miami, and Charleston among others.

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

    • 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.

    S. C. STATE FEDERAL CREDIT UNION
    Similarity Rank: 323
    METROPLEX MORTGAGE SERVICES, INC.
    Similarity Rank: 372
    SAN ANTONIO CITIZENS
    Similarity Rank: 1170
    NEAL COMMUNITIES FUNDING, LLC
    Similarity Rank: 1208
    Palmetto Citizens Federal Credit Union
    Similarity Rank: 1380
    RAILROAD & INDUSTRIAL
    Similarity Rank: 2045
    Credence Funding Corporation
    Similarity Rank: 2400
    Kwik Mortgage Corporation
    Similarity Rank: 2492
    Countybank
    Similarity Rank: 2508
    AMERICAN HERITAGE CAPITAL, L.P.
    Similarity Rank: 2592

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 964 $162,100,000 $168,154 $2,908 3.49%
    HELOC 268 $17,230,000 $64,291 n/a 3.98%

    For 2020, Grow Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 964 originations. Their 2nd most popular type was HELOC, with 268 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 338 $21,600,000 $63,905 $1,701 3.80%
    Other 250 $18,430,000 $73,720 $2,151 3.84%
    Cash Out Refi 249 $50,015,000 $200,863 $2,840 3.45%
    Home Purchase 216 $50,840,000 $235,370 $3,725 3.46%
    Refi 178 $38,290,000 $215,112 $2,422 3.20%
    NA 1 $155,000 $155,000 $0 5.00%

    For 2020, Grow Financial Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 338 originations. The 2nd most popular reason was Other, with 250 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 583 $42,225,000 $72,427 $2,855 3.71%
    30 Year 449 $103,365,000 $230,212 $3,291 3.41%
    15 Year 162 $25,840,000 $159,506 $1,974 3.55%
    10 Year 30 $5,790,000 $193,000 $1,967 4.13%
    Other 5 $1,795,000 $359,000 $0 4.50%
    5 Year 2 $270,000 $135,000 $0 4.75%
    1 Year 1 $45,000 $45,000 $0 0.00%

    For 2020, Grow Financial Federal Credit Union's most frequently cited loan duration was 20 Year, with 583 originations. The 2nd most popular length was 30 Year, with 449 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 672 $100,350,000 $149,330
    $1k-2k 224 $41,430,000 $184,955
    $2k-3k 31 $8,315,000 $268,226
    $3k-4k 11 $3,485,000 $316,818
    $5k+ 5 $1,545,000 $309,000
    $4k-5k 4 $1,390,000 $347,500

    Grow Financial Federal Credit Union's average total fees were $3,291, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 672 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 791 $111,885,000 $141,448
    4-5% 234 $21,720,000 $92,821
    2.5-3% 155 $40,145,000 $259,000
    6-7% 25 $1,145,000 $45,800
    <2.5% 16 $3,790,000 $236,875
    5-6% 10 $450,000 $45,000

    During 2020, Grow Financial Federal Credit Union's average interest rate for loans was 3.41%, while their most frequently originated rate bucket for loans was 3-4%, with 791 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 566 $29,940,000 $52,898 $1,695 3.79%
    $100k-200k 355 $52,265,000 $147,225 $2,767 3.51%
    $200k-400k 260 $68,990,000 $265,346 $3,224 3.34%
    $400k-600k 40 $18,550,000 $463,750 $4,456 3.23%
    $600k-1MM 7 $5,385,000 $769,286 $6,949 3.50%
    $1MM+ 4 $4,200,000 $1,050,000 $6,129 3.44%

    2020 saw Grow Financial Federal Credit Union place emphasis on $100,000 or less loans with 566 originations, totaling $29,940,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 289 $49,165,000 $170,121 $2,715 3.60%
    $50k-75k 285 $33,565,000 $117,772 $2,923 3.67%
    $50k or less 253 $21,595,000 $85,356 $2,492 3.64%
    $75k-100k 225 $27,675,000 $123,000 $2,895 3.61%
    $150k-250k 145 $36,105,000 $249,000 $3,437 3.34%
    $250k+ 34 $10,970,000 $322,647 $4,802 3.37%

    Grow Financial Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 289 originations. The second most popular income band? $50k-75k, with 285 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 283 $41,765,000 $147,580 $2,957 3.55%
    30-36% 238 $36,230,000 $152,227 $2,898 3.57%
    <20% 111 $18,145,000 $163,468 $2,620 3.61%
    49% 70 $7,740,000 $110,571 $3,214 3.60%
    43% 53 $8,395,000 $158,396 $3,044 3.54%
    42% 49 $6,995,000 $142,755 $2,760 3.57%
    39% 47 $7,025,000 $149,468 $3,558 3.72%
    44% 46 $6,850,000 $148,913 $2,654 3.58%
    47% 44 $4,960,000 $112,727 $2,535 4.02%
    38% 41 $6,495,000 $158,415 $3,159 3.45%
    40% 40 $6,460,000 $161,500 $2,764 3.81%
    48% 39 $4,105,000 $105,256 $2,855 3.63%
    45% 36 $4,180,000 $116,111 $3,060 3.56%
    37% 35 $5,125,000 $146,429 $2,668 3.48%
    46% 34 $4,600,000 $135,294 $2,276 3.72%
    36% 29 $4,395,000 $151,552 $3,172 3.44%
    41% 26 $3,730,000 $143,462 $3,049 3.56%
    50-60% 3 $1,015,000 $338,333 $4,625 3.67%

    Grow Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 283 originations. The next most common DTI ratio? 30-36%, with 238 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,024 $148,070,000 $144,600 $2,898 3.59%
    Black 99 $13,055,000 $131,869 $2,745 3.74%
    Not provided 63 $10,315,000 $163,730 $3,206 3.52%
    Asian 31 $5,235,000 $168,871 $3,457 3.45%
    Not applicable 5 $975,000 $195,000 $0 2.65%
    American Indian 6 $900,000 $150,000 $1,879 3.48%
    Filipino 1 $265,000 $265,000 $0 3.00%
    Native Hawaiian or Islander 1 $225,000 $225,000 $0 3.00%
    Vietnamese 1 $185,000 $185,000 $6,209 3.50%
    Other Pacific Islander 1 $105,000 $105,000 $0 4.75%

    Approval Rates

    Total approvals of all applications
    74.60%

    Grow Financial Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    79.79%

    Grow Financial Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,232 $179,330,000 $145,560

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $3,310,000 $827,500
    Single Family (1-4 Units):Site-Built 1,228 $176,020,000 $143,339

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 250 $21,100,000 $84,400 $1,814 3.72%
    40-60% 171 $28,515,000 $166,754 $2,318 3.36%
    60-80% 305 $67,675,000 $221,885 $3,074 3.45%
    80-100% 181 $46,975,000 $259,530 $3,761 3.46%
    Under 20% 314 $13,700,000 $43,631 $927 3.83%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    GRIFFIN FUNDING, INC. Other type of mortgage Closing on a mortgage 1 100.0%