First Commerce Credit Union Mortgage Rates, Fees & Info

Tallahassee, FL

LEI: 549300GMNBYF84V5RF83

Tax ID: 59-0687423

5 stars - out of 5 stars, based on 22 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


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Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees

    • 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

    466

    Origination Dollar Volume (All Markets)

    $88,000,000

    Awards

    FIRST COMMERCE CREDIT UNION 30 Year Conventional Loans silver FIRST COMMERCE CREDIT UNION 30 Year Conventional Loans bronze FIRST COMMERCE CREDIT UNION 30 Year Conventional Loans gold FIRST COMMERCE CREDIT UNION 30 Year Conventional Loans silver
    Show all (4) awards

    Relative 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 applications
    87.07%

    First Commerce Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.15%

    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%