Financial Center First Credit Union Mortgage Rates, Fees & InfoIndianapolis, IN
Tax ID: 35-0928620
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Review & OverviewFinancial Center First Credit Union is a smaller credit union specializing in loans. Financial Center First Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, Muncie, Kokomo, Bloomington, and New Castle among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)
Financial Center First 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.
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|Simulated Rate||Simulation Date|
|15 Year Conventional Purchase||7.12%||3/19/23|
|15 Year Conventional Refi||6.79%||3/19/23|
|15 Year Cash-out Refi||6.79%||3/19/23|
|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.|
Origination Dollar Volume (All Markets)$91,295,000
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|
|INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA)||518||$81,660,000||$157,645||$929||3.51%|
|MUNCIE, IN (FHA|USDA|VA)||73||$5,835,000||$79,932||$526||3.44%|
|KOKOMO, IN (FHA|USDA|VA)||16||$1,750,000||$109,375||$531||3.75%|
|Outside of Metro Areas||8||$760,000||$95,000||$646||3.32%|
|BLOOMINGTON, IN (FHA|USDA|VA)||4||$480,000||$120,000||$594||3.38%|
|New Castle, IN (FHA|USDA|VA)||2||$340,000||$170,000||$751||3.14%|
|FORT WAYNE, IN (FHA|USDA|VA)||1||$145,000||$145,000||$454||3.39%|
|Seymour, IN (FHA|USDA|VA)||1||$135,000||$135,000||$609||3.59%|
|Logansport, IN (FHA|USDA|VA)||1||$95,000||$95,000||$943||3.70%|
|Peru, IN (FHA|USDA|VA)||1||$45,000||$45,000||$790||3.29%|
|COLUMBUS, IN (FHA|USDA|VA)||1||$45,000||$45,000||$355||5.80%|
|Greensburg, IN (FHA|USDA|VA)||1||$5,000||$5,000||$600||5.75%|
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Financial Center First Credit Union's most frequently originated type of loan was Conventional, with 627 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Financial Center First Credit Union's most frequently cited loan purpose was Refi, with 481 originations. The 2nd most popular reason was Home Purchase, with 72 originations.
For 2021, Financial Center First Credit Union's most frequently cited loan duration was 15 Year, with 293 originations. The 2nd most popular length was 10 Year, with 191 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Financial Center First Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 589 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, Financial Center First Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 282 originations.
2021 saw Financial Center First Credit Union place emphasis on $100,000 or less loans with 304 originations, totaling $17,450,000 in origination value.
Financial Center First Credit Union lent most frequently to those with incomes in the $50k-75k range, with 148 originations. The second most popular income band? $75k-100k, with 136 originations.
Applicant Debt to Income Ratio
Financial Center First Credit Union lent most frequently to those with DTI ratios of 20-30%, with 209 originations. The next most common DTI ratio? <20%, with 113 originations.
Approval RatesTotal approvals of all applications
Financial Center First Credit Union has a below average approval rate.
Pick RateApprovals leading to origination
Financial Center First Credit Union has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2021 CPFB Complaints||% of Total Issues|
|Financial Freedom Mortgage, LLC||Conventional home mortgage||Applying for a mortgage or refinancing an existing mortgage||2||40.0%|
|Financial Freedom Mortgage, LLC||FHA mortgage||Applying for a mortgage or refinancing an existing mortgage||1||20.0%|
|Financial Freedom Mortgage, LLC||Home equity loan or line of credit (HELOC)||Applying for a mortgage or refinancing an existing mortgage||1||20.0%|
|Financial Freedom Mortgage, LLC||Other type of mortgage||Applying for a mortgage or refinancing an existing mortgage||1||20.0%|