First Commerce Credit Union Mortgage Rates, Fees & Info

Tallahassee, FL

LEI: 549300GMNBYF84V5RF83

Tax ID: 59-0687423

5 stars - Updated: 6/22/25 - out of 5 stars, based on 23 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    First Commerce Credit Union is a smaller credit union specializing in Home Purchase loans. First Commerce Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Tallahassee, Thomasville, Valdosta, Panama City, and Tampa among others. We have data for 18 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.

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

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 7.08% 6/22/25
    30 Year Conventional Purchase 6.35% 6/22/25
    30 Year Conventional Refi 6.16% 6/22/25
    30 Year Cash-out Refi 6.16% 6/22/25
    15 Year Conventional Purchase 5.50% 6/22/25
    15 Year Conventional Refi 5.83% 6/22/25
    15 Year Cash-out Refi 5.83% 6/22/25
    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.

    First Commerce Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from First Commerce 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

    546

    Origination Dollar Volume (All Markets)

    $75,220,000
    Show all (6) awards

    Relative Rate

    First Commerce Credit Union's average 30 year fixed mortgage rate was 6.24%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.31%.

    Relative Fees (Closing Costs)

    First Commerce Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,720.

    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 $8,356.

    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) 352 $46,300,000 $131,534 $5,154 7.66%
    Thomasville, GA (FHA|USDA|VA) 52 $8,480,000 $163,077 $4,228 7.13%
    Outside of Metro Areas 66 $7,810,000 $118,333 $3,527 7.45%
    VALDOSTA, GA (FHA|USDA|VA) 47 $6,115,000 $130,106 $3,520 8.20%
    PANAMA CITY, FL (FHA|USDA|VA) 8 $2,450,000 $306,250 $4,899 7.19%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $1,060,000 $265,000 $6,305 7.75%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $700,000 $350,000 $3,659 6.38%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $490,000 $122,500 $4,165 8.00%
    Moultrie, GA (FHA|USDA|VA) 1 $315,000 $315,000 $6,498 5.88%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $265,000 $265,000 $4,507 6.13%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $255,000 $255,000 $0 8.50%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $205,000 $205,000 $0 7.50%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 8.25%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $160,000 $80,000 $4,244 8.62%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $135,000 $135,000 $0 7.38%
    Tifton, GA (FHA|USDA|VA) 1 $115,000 $115,000 $0 8.50%
    DOTHAN, AL (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.75%
    ALBANY, GA (FHA|USDA|VA) 1 $55,000 $55,000 $3,469 6.25%
    First Commerce Credit Union's top markets include Tallahassee, Thomasville, Valdosta, Panama City, and Tampa among others.

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

    • 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.

    SOUTHEASTERN Credit Union
    Similarity Rank: 132
    FIRST COMMERCE CREDIT UNION
    Similarity Rank: 180
    Envision Credit Union
    Similarity Rank: 180
    First Reliance Bank
    Similarity Rank: 448
    FIRST FLORIDA Credit Union
    Similarity Rank: 675
    Colony Bank
    Similarity Rank: 1040
    BAY CAPITAL MORTGAGE CORPORATION
    Similarity Rank: 2040
    Renasant Bank
    Similarity Rank: 2250
    BANKSOUTH MORTGAGE COMPANY, LLC
    Similarity Rank: 3388
    VILLAGE CAPITAL MORTGAGE
    Similarity Rank: 3625

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 275 $50,215,000 $182,600 $4,675 6.88%
    HELOC 271 $25,005,000 $92,269 n/a 8.38%

    For 2024, First Commerce Credit Union's most frequently originated type of loan was Conventional, with 275 originations. Their 2nd most popular type was HELOC, with 271 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    NA 153 $12,645,000 $82,647 $0 8.02%
    Home Purchase 117 $35,185,000 $300,726 $5,013 6.49%
    Home Improvement 91 $7,305,000 $80,275 $2,918 7.95%
    Other 85 $8,015,000 $94,294 $3,539 8.15%
    Cash Out Refi 76 $7,960,000 $104,737 $3,639 7.82%
    Refi 24 $4,110,000 $171,250 $3,585 6.85%

    For 2024, First Commerce Credit Union's most frequently cited loan purpose was NA, with 153 originations. The 2nd most popular reason was Home Purchase, with 117 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 283 $25,645,000 $90,618 $10,578 8.51%
    30 Year 102 $29,130,000 $285,588 $4,720 6.24%
    10 Year 66 $4,750,000 $71,970 $0 6.86%
    15 Year 42 $7,270,000 $173,095 $4,165 7.23%
    5 Year 35 $7,075,000 $202,143 $0 7.01%
    Other 16 $1,250,000 $78,125 $0 6.35%
    1 Year 1 $75,000 $75,000 $0 5.99%
    3 Year 1 $25,000 $25,000 $0 9.00%

    For 2024, First Commerce Credit Union's most frequently cited loan duration was 20 Year, with 283 originations. The 2nd most popular length was 30 Year, with 102 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 95 $27,875,000 $293,421
    $2k-3k 8 $1,960,000 $245,000
    $1k-2k 6 $1,310,000 $218,333
    $3k-4k 4 $1,130,000 $282,500
    $5k+ 4 $1,350,000 $337,500

    First Commerce Credit Union's average total fees were $4,720, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 95 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 295 $26,115,000 $88,525
    5-6% 92 $20,420,000 $221,957
    7-8% 76 $8,590,000 $113,026
    6-7% 68 $19,070,000 $280,441
    4-5% 15 $1,025,000 $68,333

    During 2024, First Commerce Credit Union's average interest rate for loans was 6.24%, while their most frequently originated rate bucket for loans was Over 8%, with 295 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 298 $16,050,000 $53,859 $2,793 8.02%
    $100k-200k 129 $17,345,000 $134,457 $3,773 7.69%
    $200k-400k 93 $26,085,000 $280,484 $4,702 6.63%
    $400k-600k 17 $7,785,000 $457,941 $6,312 6.32%
    $600k-1MM 8 $5,710,000 $713,750 $6,802 6.23%
    $1MM+ 1 $2,245,000 $2,245,000 $0 7.00%

    2024 saw First Commerce Credit Union place emphasis on $100,000 or less loans with 298 originations, totaling $16,050,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 132 $18,570,000 $140,682 $4,716 7.52%
    $50k-75k 109 $9,315,000 $85,459 $3,806 7.78%
    $150k-250k 98 $16,300,000 $166,327 $5,836 7.63%
    $75k-100k 92 $10,330,000 $112,283 $3,946 7.54%
    $50k or less 60 $3,940,000 $65,667 $3,262 7.59%
    $250k+ 41 $11,885,000 $289,878 $5,757 7.66%

    First Commerce Credit Union lent most frequently to those with incomes in the $100k-150k range, with 132 originations. The second most popular income band? $50k-75k, with 109 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 91 $12,655,000 $139,066 $4,394 7.39%
    50-60% 80 $8,800,000 $110,000 $4,892 8.25%
    30-36% 77 $13,655,000 $177,338 $5,462 6.95%
    <20% 55 $7,285,000 $132,455 $3,810 7.18%
    41% 24 $2,740,000 $114,167 $4,493 7.73%
    44% 24 $3,000,000 $125,000 $4,093 7.43%
    37% 19 $1,935,000 $101,842 $4,097 8.36%
    43% 17 $2,375,000 $139,706 $4,638 7.24%
    47% 17 $1,945,000 $114,412 $5,538 8.39%
    49% 16 $2,500,000 $156,250 $5,379 7.44%
    45% 16 $1,880,000 $117,500 $4,728 7.89%
    48% 14 $2,170,000 $155,000 $4,779 8.10%
    38% 14 $1,830,000 $130,714 $4,076 7.53%
    46% 14 $1,680,000 $120,000 $3,430 7.92%
    40% 13 $1,415,000 $108,846 $4,026 7.61%
    42% 10 $600,000 $60,000 $0 8.25%
    36% 10 $1,200,000 $120,000 $3,982 8.09%
    39% 10 $1,600,000 $160,000 $5,808 7.91%
    >60% 3 $395,000 $131,667 $0 8.33%

    First Commerce Credit Union lent most frequently to those with DTI ratios of 20-30%, with 91 originations. The next most common DTI ratio? 50-60%, with 80 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 396 $53,260,000 $134,495 $4,782 7.61%
    Black 76 $8,150,000 $107,237 $3,944 8.03%
    Not provided 41 $6,115,000 $149,146 $4,372 7.06%
    Not applicable 20 $5,380,000 $269,000 $0 7.79%
    Asian Indian 7 $1,825,000 $260,714 $5,149 6.66%
    Asian 3 $265,000 $88,333 $0 8.16%
    American Indian 3 $225,000 $75,000 $4,058 7.29%

    Approval Rates

    Total approvals of all applications
    72.81%

    First Commerce Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    74.18%

    First Commerce Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 546 $75,220,000 $137,766

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    546 $75,220,000 $137,766

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 161 $16,945,000 $105,248 $3,534 8.16%
    40-60% 60 $11,900,000 $198,333 $4,558 7.00%
    60-80% 82 $24,020,000 $292,927 $4,801 6.62%
    80-100% 43 $12,425,000 $288,953 $4,858 6.47%
    Under 20% 200 $9,930,000 $49,650 $2,669 8.04%