First Commerce Credit Union Mortgage Rates, Fees & Info
Tallahassee, FLLEI: 549300GMNBYF84V5RF83
Tax ID: 59-0687423
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
First Commerce Credit Union is a smaller credit union specializing in Refi, Home Purchase, and Cash Out Refi loans. First Commerce Credit Union has a high proportion of conventional loans. Their top markets include Tallahassee, Thomasville, Valdosta, Panama City, and Jacksonville among others. First Commerce 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 Commerce Credit Union is typically an average fee lendor.Originations
466Origination Dollar Volume (All Markets)
$88,000,000Relative Rate
First Commerce Credit Union's average 30 year fixed rate mortgage of loans were
3.08%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.07%.
Relative Fees
First Commerce Credit Union's average total fees for a 30 year fixed rate
mortgage are $3,556.
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 |
---|---|---|---|---|---|
TALLAHASSEE, FL (FHA|USDA|VA) | 302 | $57,540,000 | $190,530 | $3,537 | 2.91% |
Outside of Metro Areas | 79 | $13,585,000 | $171,962 | $3,399 | 2.78% |
Thomasville, GA (FHA|USDA|VA) | 27 | $5,465,000 | $202,407 | $3,157 | 2.85% |
VALDOSTA, GA (FHA|USDA|VA) | 23 | $4,165,000 | $181,087 | $2,941 | 3.00% |
PANAMA CITY, FL (FHA|USDA|VA) | 8 | $2,150,000 | $268,750 | $4,482 | 2.69% |
JACKSONVILLE, FL (FHA|USDA|VA) | 5 | $1,255,000 | $251,000 | $2,812 | 2.65% |
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $3,620 | 3.38% |
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $4,068 | 2.38% |
Moultrie, GA (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $4,068 | 2.94% |
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $3,174 | 2.46% |
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $2,535 | 2.69% |
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,145 | 2.25% |
OCALA, FL (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,812 | 2.25% |
SAVANNAH, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,132 | 2.38% |
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,954 | 2.25% |
GAINESVILLE, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,200 | 2.88% |
Tifton, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,446 | 2.50% |
WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,918 | 3.25% |
MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,192 | 2.75% |
PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,349 | 2.63% |
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 4.87% |
First Commerce Credit Union's top markets include Tallahassee, Thomasville, Valdosta, Panama City, and Jacksonville among others.
Product Mix
Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Conventional | 466 | $88,000,000 | $188,841 | $3,453 | 2.88% |
For the 2021 period, First Commerce Credit Union's most frequently originated loan type of loans were Conventional, with 466 originations.
Loan Reason
Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Refi | 203 | $36,935,000 | $181,946 | $3,252 | 2.70% |
Home Purchase | 128 | $25,660,000 | $200,469 | $3,722 | 3.00% |
Cash Out Refi | 116 | $23,340,000 | $201,207 | $3,512 | 2.86% |
Other | 7 | $1,035,000 | $147,857 | $3,354 | 3.57% |
Home Improvement | 6 | $480,000 | $80,000 | $3,215 | 3.33% |
NA | 6 | $550,000 | $91,667 | $0 | 5.35% |
For the 2021, First Commerce Credit Union's most frequently cited loan purpose of loans were Refi, with 203 originations. The 2nd most popular reason of loans were Home Purchase, with 128 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
30 Year | 225 | $46,545,000 | $206,867 | $3,556 | 3.08% |
15 Year | 169 | $30,275,000 | $179,142 | $3,295 | 2.48% |
20 Year | 47 | $9,245,000 | $196,702 | $3,549 | 2.79% |
10 Year | 20 | $1,630,000 | $81,500 | $3,028 | 4.03% |
5 Year | 3 | $215,000 | $71,667 | $0 | 3.74% |
Other | 2 | $90,000 | $45,000 | $0 | 3.74% |
For the 2021, First Commerce Credit Union's most frequently cited loan length of loans were 30 Year, with 225 originations. The 2nd most popular length of loans were 15 Year, with 169 originations.
Origination Fees
Origination Fee | Originations | Total Value | Average Loan |
---|---|---|---|
$<1k | 343 | $68,905,000 | $200,889 |
$1k-2k | 58 | $10,790,000 | $186,034 |
$2k-3k | 10 | $2,420,000 | $242,000 |
$3k-4k | 2 | $440,000 | $220,000 |
$3,556 of loans were First Commerce Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 343 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
<2.5% | 162 | $31,310,000 | $193,272 |
2.5-3% | 160 | $30,810,000 | $192,563 |
3-4% | 119 | $24,095,000 | $202,479 |
4-5% | 15 | $1,095,000 | $73,000 |
5-6% | 6 | $500,000 | $83,333 |
6-7% | 2 | $60,000 | $30,000 |
7-8% | 1 | $105,000 | $105,000 |
Over 8% | 1 | $25,000 | $25,000 |
During 2021, First Commerce Credit Union's average interest rate of loans were 3.08%, while their most frequently originated rate bucket of loans were <2.5%, with 162 originations.
Loan Sizing
Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$100k-200k | 204 | $30,950,000 | $151,716 | $3,210 | 2.84% |
$200k-400k | 161 | $42,515,000 | $264,068 | $3,800 | 2.75% |
$100,000 or less | 83 | $5,885,000 | $70,904 | $2,858 | 3.25% |
$400k-600k | 17 | $7,965,000 | $468,529 | $4,472 | 2.81% |
$600k-1MM | 1 | $685,000 | $685,000 | $7,515 | 2.25% |
2021 saw First Commerce Credit Union place emphasis on $100k-200k loans with 204 originations, totaling $30,950,000 in origination value.
Applicant Income
Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$100k-150k | 123 | $25,805,000 | $209,797 | $3,557 | 2.94% |
$50k-75k | 112 | $17,790,000 | $158,839 | $3,293 | 2.80% |
$75k-100k | 83 | $14,945,000 | $180,060 | $3,513 | 2.85% |
$50k or less | 74 | $9,220,000 | $124,595 | $3,174 | 2.96% |
$150k-250k | 54 | $13,740,000 | $254,444 | $3,701 | 2.77% |
$250k+ | 20 | $6,500,000 | $325,000 | $4,178 | 3.08% |
First Commerce Credit Union lent most frequently to those with incomes in the $100k-150k range, with 123 originations. The second most popular income band? $50k-75k, with 112 originations.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
20-30% | 125 | $24,575,000 | $196,600 | $3,417 | 2.74% |
30-36% | 87 | $16,235,000 | $186,609 | $3,491 | 2.88% |
<20% | 63 | $11,695,000 | $185,635 | $3,305 | 2.74% |
44% | 19 | $2,895,000 | $152,368 | $3,395 | 3.47% |
43% | 19 | $3,435,000 | $180,789 | $3,514 | 2.90% |
45% | 19 | $4,445,000 | $233,947 | $3,667 | 2.83% |
36% | 18 | $3,470,000 | $192,778 | $3,307 | 2.69% |
42% | 15 | $2,575,000 | $171,667 | $3,314 | 3.12% |
38% | 15 | $2,885,000 | $192,333 | $3,421 | 2.78% |
40% | 13 | $2,505,000 | $192,692 | $3,617 | 3.36% |
39% | 13 | $2,495,000 | $191,923 | $3,834 | 3.32% |
37% | 13 | $2,345,000 | $180,385 | $3,412 | 2.90% |
41% | 11 | $1,885,000 | $171,364 | $3,570 | 3.01% |
47% | 9 | $1,505,000 | $167,222 | $3,706 | 3.53% |
48% | 8 | $1,430,000 | $178,750 | $3,529 | 2.56% |
50-60% | 7 | $1,525,000 | $217,857 | $3,926 | 2.50% |
49% | 6 | $1,080,000 | $180,000 | $3,497 | 3.00% |
46% | 5 | $875,000 | $175,000 | $3,100 | 2.78% |
>60% | 1 | $145,000 | $145,000 | $0 | 4.75% |
First Commerce Credit Union lent most frequently to those with DTI ratios of 20-30%, with 125 originations. The next most common DTI ratio? 30-36%, with 87 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
White | 337 | $63,695,000 | $189,006 | $3,454 | 2.90% |
Not provided | 69 | $12,195,000 | $176,739 | $3,412 | 2.75% |
Black | 39 | $6,235,000 | $159,872 | $3,450 | 3.17% |
Asian | 19 | $5,415,000 | $285,000 | $3,597 | 2.36% |
Asian Indian | 1 | $255,000 | $255,000 | $3,883 | 2.50% |
American Indian | 1 | $205,000 | $205,000 | $3,025 | 3.13% |
Approval Rates
Total approvals of all applications87.07%
First Commerce Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination75.15%
First Commerce Credit Union has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
1027.5 | 1 | $185,000 | $185,000 |
258.0 | 1 | $15,000 | $15,000 |
281.0 | 1 | $25,000 | $25,000 |
314.8 | 1 | $25,000 | $25,000 |
351.0 | 1 | $45,000 | $45,000 |
353.0 | 1 | $45,000 | $45,000 |
374.5 | 1 | $45,000 | $45,000 |
397.0 | 1 | $55,000 | $55,000 |
403.5 | 1 | $55,000 | $55,000 |
411.75 | 1 | $15,000 | $15,000 |
413.5 | 1 | $55,000 | $55,000 |
415.0 | 1 | $25,000 | $25,000 |
474.0 | 1 | $45,000 | $45,000 |
474.5 | 1 | $25,000 | $25,000 |
511.5 | 1 | $85,000 | $85,000 |
544.6 | 1 | $45,000 | $45,000 |
580.0 | 1 | $105,000 | $105,000 |
660.75 | 1 | $85,000 | $85,000 |
789.0 | 1 | $135,000 | $135,000 |
NA | 447 | $86,885,000 | $194,374 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
466 | $88,000,000 | $188,841 |
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
20-40% | 32 | $3,830,000 | $119,688 | $3,092 | 2.99% |
40-60% | 96 | $15,720,000 | $163,750 | $3,305 | 2.60% |
60-80% | 205 | $40,675,000 | $198,415 | $3,381 | 2.83% |
80-100% | 121 | $26,795,000 | $221,446 | $3,765 | 2.94% |
Under 20% | 11 | $935,000 | $85,000 | $2,260 | 5.09% |
Complaints
Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
First Commerce, LLC | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |