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 Cash Out Refi 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 Augusta among others. We have data for 39 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% | 12/16/24 |
| 30 Year Conventional Purchase | 6.31% | 12/16/24 |
| 30 Year Conventional Refi | 6.32% | 12/16/24 |
| 30 Year Cash-out Refi | 6.40% | 12/16/24 |
| 15 Year Conventional Purchase | 6.48% | 12/16/24 |
| 15 Year Conventional Refi | 5.83% | 12/16/24 |
| 15 Year Cash-out Refi | 5.83% | 12/16/24 |
| 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,095Origination Dollar Volume (All Markets)
$160,625,000Top 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) | 912 | $127,500,000 | $139,803 | $3,822 | 3.67% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 78 | $13,420,000 | $172,051 | $4,034 | 3.83% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 10 | $2,290,000 | $229,000 | $4,228 | 3.56% |
| COLUMBIA, SC (FHA|USDA|VA) | 14 | $2,270,000 | $162,143 | $3,669 | 3.29% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 5 | $2,245,000 | $449,000 | $5,089 | 3.23% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 9 | $1,335,000 | $148,333 | $6,312 | 3.39% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 8 | $1,330,000 | $166,250 | $4,144 | 3.83% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $1,100,000 | $550,000 | $0 | 4.25% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 4 | $1,030,000 | $257,500 | $3,453 | 3.16% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $690,000 | $172,500 | $5,545 | 3.69% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 5 | $665,000 | $133,000 | $3,561 | 3.73% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $4,555 | 3.00% |
| SPARTANBURG, SC (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $4,160 | 3.50% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $8,813 | 3.79% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $4,263 | 3.42% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,213 | 2.94% |
| OCALA, FL (FHA|USDA|VA) | 4 | $390,000 | $97,500 | $3,319 | 3.16% |
| Outside of Metro Areas | 2 | $370,000 | $185,000 | $3,244 | 3.13% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $4,199 | 3.04% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,867 | 3.13% |
| Sevierville, TN (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $5,493 | 3.69% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $6,056 | 2.88% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $4,337 | 3.00% |
| Forest City, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,902 | 2.50% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,490 | 2.75% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,115 | 3.13% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,149 | 3.25% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,301 | 3.13% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,873 | 3.13% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,223 | 3.63% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,261 | 3.38% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,394 | 2.75% |
| Shelby, NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,869 | 3.25% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,991 | 3.38% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,041 | 3.13% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $317 | 5.88% |
| Lake City, FL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 4.25% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $802 | 5.63% |
| JACKSON, TN (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 4.25% |
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 | 627 | $127,325,000 | $203,070 | $3,885 | 3.19% |
| HELOC | 468 | $33,300,000 | $71,154 | n/a | 4.29% |
For 2021, Grow Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 627 originations. Their 2nd most popular type was HELOC, with 468 originations.
Loan Reason
For 2021, Grow Financial Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 310 originations. The 2nd most popular reason was Cash Out Refi, with 300 originations.
Loan Duration/Length
For 2021, Grow Financial Federal Credit Union's most frequently cited loan duration was 20 Year, with 517 originations. The 2nd most popular length was 30 Year, with 379 originations.
Origination Fees/Closing Costs
Grow Financial Federal Credit Union's average total fees were $4,308, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 430 originations.
Interest Rates
During 2021, Grow Financial Federal Credit Union's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 4-5%, with 441 originations.
Loan Sizing
2021 saw Grow Financial Federal Credit Union place emphasis on $100,000 or less loans with 490 originations, totaling $27,390,000 in origination value.
Applicant Income
Grow Financial Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 268 originations. The second most popular income band? $100k-150k, with 220 originations.
Applicant Debt to Income Ratio
Grow Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 239 originations. The next most common DTI ratio? 30-36%, with 184 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.33%
Grow Financial Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination83.11%
Grow Financial Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,095 | $160,625,000 | $146,689 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| GRIFFIN FUNDING, INC. | Other type of mortgage | Closing on a mortgage | 1 | 50.0% |
| GRIFFIN FUNDING, INC. | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |