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 Refi and Cash Out Refi loans. First Commerce Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Tallahassee, Valdosta, Thomasville, Jacksonville, and Tampa among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)First Commerce Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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% | 4/21/24 |
| 30 Year Conventional Purchase | 6.63% | 4/21/24 |
| 30 Year Conventional Refi | 6.83% | 4/21/24 |
| 30 Year Cash-out Refi | 6.74% | 4/21/24 |
| 30 Year FHA Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 5.95% | 4/21/24 |
| 15 Year Conventional Refi | 6.00% | 4/21/24 |
| 15 Year Cash-out Refi | 6.00% | 4/21/24 |
| 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. | ||
First Commerce 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
901Origination Dollar Volume (All Markets)
$157,245,000Top 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 |
|---|---|---|---|---|---|
| TALLAHASSEE, FL (FHA|USDA|VA) | 460 | $98,780,000 | $214,739 | $0 | 0.00% |
| Outside of Metro Areas | 209 | $19,365,000 | $92,656 | $0 | 0.00% |
| VALDOSTA, GA (FHA|USDA|VA) | 118 | $14,640,000 | $124,068 | $0 | 0.00% |
| Thomasville, GA (FHA|USDA|VA) | 35 | $6,615,000 | $189,000 | $0 | 0.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 14 | $4,070,000 | $290,714 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 8 | $2,070,000 | $258,750 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 7 | $1,685,000 | $240,714 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 5 | $1,285,000 | $257,000 | $0 | 0.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $1,175,000 | $391,667 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $1,145,000 | $229,000 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $0 | 0.00% |
| Tifton, GA (FHA|USDA|VA) | 7 | $835,000 | $119,286 | $0 | 0.00% |
| Bainbridge, GA (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $0 | 0.00% |
| OCALA, FL (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $0 | 0.00% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 0.00% |
| Moultrie, GA (FHA|USDA|VA) | 4 | $280,000 | $70,000 | $0 | 0.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| ALBANY, GA (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 0.00% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
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 |
|---|---|---|---|---|---|
| Conventional | 901 | $157,245,000 | $174,523 | $0 | 0.00% |
For 2020, First Commerce Credit Union's most frequently originated type of loan was Conventional, with 901 originations.
Loan Reason
For 2020, First Commerce Credit Union's most frequently cited loan purpose was Refi, with 524 originations. The 2nd most popular reason was Home Purchase, with 188 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 901 | $157,245,000 | $174,523 | $0 | 0.00% |
For 2020, First Commerce Credit Union's most frequently cited loan duration was Other, with 901 originations.
Loan Sizing
2020 saw First Commerce Credit Union place emphasis on $100k-200k loans with 316 originations, totaling $47,520,000 in origination value.
Applicant Income
First Commerce Credit Union lent most frequently to those with incomes in the $100k-150k range, with 199 originations. The second most popular income band? $50k-75k, with 171 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 901 | $157,245,000 | $174,523 | $0 | 0.00% |
First Commerce Credit Union lent most frequently to those with DTI ratios of Exempt%, with 901 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.01%
First Commerce Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination78.91%
First Commerce Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 901 | $157,245,000 | $174,523 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| First Technology Federal Credit Union | Conventional home mortgage | Trouble during payment process | 1 | 25.0% |
| First Technology Federal Credit Union | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 25.0% |
| First Technology Federal Credit Union | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |
| First Technology Federal Credit Union | Conventional home mortgage | Incorrect information on your report | 1 | 25.0% |