First Commerce Credit Union Mortgage Rates, Fees & Info

Tallahassee, FL

LEI: 549300GMNBYF84V5RF83

Tax ID: 59-0687423

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 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.

    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) 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






    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

    684

    Origination Dollar Volume (All Markets)

    $81,660,000

    Awards

    FIRST COMMERCE CREDIT UNION 30 Year Conventional Loans gold
    Show all (1) awards

    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%
    First Commerce Credit Union's top markets include Tallahassee, Valdosta, Thomasville, Panama City, and Tampa among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Mississippi (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.

    Envision Credit Union
    Similarity Rank: 169
    SOUTHEASTERN Credit Union
    Similarity Rank: 170
    FIRST COMMERCE CREDIT UNION
    Similarity Rank: 532
    VYSTAR
    Similarity Rank: 1008
    Colony Bank
    Similarity Rank: 1680
    DHI MORTGAGE COMPANY, LTD.
    Similarity Rank: 1728
    FIRST FLORIDA Credit Union
    Similarity Rank: 1827
    MORTGAGE INVESTORS GROUP, INC.
    Similarity Rank: 2058
    PREMIER LENDING, INC.
    Similarity Rank: 2184
    BANKSOUTH MORTGAGE COMPANY, LLC
    Similarity Rank: 2706

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 203 $16,085,000 $79,236 $4,794 5.20%
    Other 171 $16,955,000 $99,152 $3,991 5.48%
    Home Purchase 114 $24,820,000 $217,719 $3,764 5.07%
    Refi 89 $11,155,000 $125,337 $3,372 5.22%
    NA 56 $4,610,000 $82,321 $0 4.41%
    Cash Out Refi 51 $8,035,000 $157,549 $3,728 4.66%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 373 $36,345,000 $97,440 $3,531 4.94%
    30 Year 115 $26,725,000 $232,391 $3,951 4.91%
    Other 71 $6,825,000 $96,127 $0 6.09%
    15 Year 63 $8,015,000 $127,222 $3,088 5.06%
    10 Year 40 $2,790,000 $69,750 $2,713 6.03%
    5 Year 18 $570,000 $31,667 $0 5.22%
    1 Year 3 $185,000 $61,667 $0 8.82%
    3 Year 1 $205,000 $205,000 $0 4.31%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 81 $17,175,000 $212,037
    $1k-2k 42 $7,240,000 $172,381
    $2k-3k 18 $3,740,000 $207,778
    $3k-4k 8 $2,150,000 $268,750
    $5k+ 3 $1,005,000 $335,000
    $4k-5k 2 $780,000 $390,000

    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

    Loan Rate Originations Total Value Average Loan
    3-4% 221 $27,065,000 $122,466
    5-6% 174 $23,540,000 $135,287
    4-5% 126 $14,390,000 $114,206
    6-7% 71 $8,845,000 $124,577
    Over 8% 39 $2,235,000 $57,308
    7-8% 29 $1,855,000 $63,966
    2.5-3% 14 $2,440,000 $174,286
    <2.5% 8 $1,100,000 $137,500

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 376 $20,090,000 $53,431 $3,172 5.40%
    $100k-200k 189 $25,815,000 $136,587 $3,081 4.84%
    $200k-400k 103 $27,905,000 $270,922 $4,319 4.87%
    $400k-600k 15 $6,935,000 $462,333 $5,387 4.71%
    $600k-1MM 1 $915,000 $915,000 $0 3.75%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 156 $21,130,000 $135,449 $3,940 5.07%
    $50k-75k 137 $13,005,000 $94,927 $3,532 5.10%
    $75k-100k 123 $12,125,000 $98,577 $3,517 5.18%
    $150k-250k 94 $14,250,000 $151,596 $4,467 5.24%
    $50k or less 81 $5,715,000 $70,556 $3,077 4.82%
    $250k+ 41 $7,935,000 $193,537 $4,099 5.01%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 143 $16,245,000 $113,601 $3,439 4.60%
    30-36% 105 $13,075,000 $124,524 $3,718 5.13%
    <20% 84 $9,770,000 $116,310 $2,884 4.82%
    50-60% 28 $2,190,000 $78,214 $4,199 5.37%
    42% 25 $2,745,000 $109,800 $3,927 4.99%
    43% 21 $2,285,000 $108,810 $4,725 5.86%
    45% 20 $2,660,000 $133,000 $5,045 5.41%
    44% 20 $3,540,000 $177,000 $3,917 4.76%
    36% 19 $1,535,000 $80,789 $3,269 5.89%
    37% 19 $2,615,000 $137,632 $4,230 5.39%
    47% 18 $1,850,000 $102,778 $5,380 5.31%
    46% 17 $1,595,000 $93,824 $0 5.54%
    41% 16 $2,430,000 $151,875 $3,374 5.08%
    39% 16 $2,270,000 $141,875 $5,041 5.79%
    38% 12 $1,130,000 $94,167 $1,813 4.73%
    49% 12 $1,250,000 $104,167 $3,215 4.23%
    40% 11 $1,635,000 $148,636 $3,163 5.58%
    48% 10 $1,200,000 $120,000 $3,601 5.12%
    >60% 3 $345,000 $115,000 $0 7.25%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 470 $56,450,000 $120,106 $3,637 5.07%
    Not provided 62 $8,370,000 $135,000 $4,820 5.10%
    Black 90 $8,230,000 $91,444 $3,381 5.13%
    Not applicable 50 $6,970,000 $139,400 $0 5.90%
    Asian 3 $875,000 $291,667 $4,800 4.79%
    American Indian 9 $765,000 $85,000 $3,753 5.80%

    Approval Rates

    Total approvals of all applications
    77.63%

    First Commerce Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    76.46%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    684 $81,660,000 $119,386

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 192 $18,830,000 $98,073 $3,231 5.13%
    40-60% 104 $15,320,000 $147,308 $3,222 5.01%
    60-80% 106 $18,550,000 $175,000 $3,870 4.89%
    80-100% 77 $18,445,000 $239,545 $3,947 4.74%
    Over 100% 1 $115,000 $115,000 $0 0.00%
    Under 20% 202 $9,770,000 $48,366 $2,163 5.55%

    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%