First Commerce Credit Union Mortgage Rates, Fees & Info
Tallahassee, FLLEI: 549300GMNBYF84V5RF83
Tax ID: 59-0687423
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Mortgage Data
Review & Overview
First Commerce Credit Union is a smaller credit union specializing in Other and Home Purchase loans. First Commerce Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Tallahassee, Valdosta, Thomasville, Panama City, and Tampa among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)First Commerce 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. First Commerce 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) | 6.27% | 3/27/23 |
| 30 Year Conventional Purchase | 6.63% | 3/27/23 |
| 30 Year Conventional Refi | 6.83% | 3/27/23 |
| 30 Year Cash-out Refi | 6.74% | 3/27/23 |
| 30 Year FHA Purchase | 6.27% | 3/27/23 |
| 15 Year Conventional Purchase | 5.95% | 3/27/23 |
| 15 Year Conventional Refi | 6.00% | 3/27/23 |
| 15 Year Cash-out Refi | 6.00% | 3/27/23 |
| 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. | ||
Originations
684Origination Dollar Volume (All Markets)
$81,660,000Awards
FIRST COMMERCE CREDIT UNION - 2022
FIRST COMMERCE CREDIT UNION is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
First Commerce Credit Union's average 30 year fixed mortgage rate was
4.91%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.15%.
Relative Fees (Closing Costs)
First Commerce Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,951.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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 |
|---|---|---|---|---|---|
| TALLAHASSEE, FL (FHA|USDA|VA) | 385 | $47,185,000 | $122,558 | $3,898 | 5.03% |
| Outside of Metro Areas | 149 | $14,935,000 | $100,235 | $3,329 | 5.29% |
| VALDOSTA, GA (FHA|USDA|VA) | 82 | $7,990,000 | $97,439 | $3,028 | 5.38% |
| Thomasville, GA (FHA|USDA|VA) | 24 | $3,390,000 | $141,250 | $3,681 | 5.69% |
| PANAMA CITY, FL (FHA|USDA|VA) | 12 | $1,920,000 | $160,000 | $3,738 | 4.81% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $1,455,000 | $291,000 | $3,429 | 4.87% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $0 | 5.33% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $0 | 3.99% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $5,376 | 5.54% |
| Bainbridge, GA (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $617 | 7.08% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $5,271 | 4.88% |
| Moultrie, GA (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $2,042 | 4.21% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 3.99% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,198 | 6.13% |
| DOTHAN, AL (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $0 | 5.33% |
| Americus, GA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 6.10% |
| ALBANY, GA (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $0 | 5.10% |
| Starkville, MS (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.15% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against FIRST COMMERCE 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 |
|---|---|---|---|---|---|
| HELOC | 344 | $32,550,000 | $94,622 | n/a | 4.82% |
| Conventional | 340 | $49,110,000 | $144,441 | $3,705 | 5.49% |
For 2022, First Commerce Credit Union's most frequently originated type of loan was HELOC, with 344 originations. Their 2nd most popular type was Conventional, with 340 originations.
Loan Reason
For 2022, First Commerce Credit Union's most frequently cited loan purpose was Home Improvement, with 203 originations. The 2nd most popular reason was Other, with 171 originations.
Loan Duration/Length
For 2022, First Commerce Credit Union's most frequently cited loan duration was 20 Year, with 373 originations. The 2nd most popular length was 30 Year, with 115 originations.
Origination Fees/Closing Costs
First Commerce Credit Union's average total fees were $3,951, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 81 originations.
Interest Rates
During 2022, First Commerce Credit Union's average interest rate for loans was 4.91%, while their most frequently originated rate bucket for loans was 3-4%, with 221 originations.
Loan Sizing
2022 saw First Commerce Credit Union place emphasis on $100,000 or less loans with 376 originations, totaling $20,090,000 in origination value.
Applicant Income
First Commerce Credit Union lent most frequently to those with incomes in the $100k-150k range, with 156 originations. The second most popular income band? $50k-75k, with 137 originations.
Applicant Debt to Income Ratio
First Commerce Credit Union lent most frequently to those with DTI ratios of 20-30%, with 143 originations. The next most common DTI ratio? 30-36%, with 105 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications77.63%
First Commerce Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination76.46%
First Commerce Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 684 | $81,660,000 | $119,386 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST GUARANTY MORTGAGE CORP | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |