Miami Firefighters Fcu Mortgage Rates, Fees & Info
Miami, FLLEI: 549300PVS7DLMY766R09
Tax ID: 59-0630266
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Mortgage Data
Review & Overview
Miami Firefighters Fcu is a smaller credit union specializing in Home Improvement and Other loans. Miami Firefighters Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Miami, Port St. Lucie, Sebring, Cape Coral, and Naples among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Miami Firefighters Fcu has an above average approval rate when compared to the average across all lenders. They have an above 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 |
|---|---|---|
| 15 Year Conventional Purchase | 6.00% | 4/5/25 |
| 15 Year Conventional Refi | 6.00% | 4/5/25 |
| 15 Year Cash-out Refi | 6.00% | 4/5/25 |
| 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. | ||
Miami Firefighters Fcu Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
66Origination Dollar Volume (All Markets)
$6,570,000Top 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 |
|---|---|---|---|---|---|
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 60 | $6,180,000 | $103,000 | $1,977 | 7.20% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $1,667 | 6.67% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,236 | 7.25% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,689 | 6.50% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $1,080 | 8.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against MIAMI FIREFIGHTERS FCU 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 | 66 | $6,570,000 | $99,545 | $1,964 | 7.17% |
For 2024, Miami Firefighters Fcu's most frequently originated type of loan was Conventional, with 66 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 45 | $4,375,000 | $97,222 | $1,988 | 7.26% |
| Other | 19 | $2,095,000 | $110,263 | $1,864 | 7.00% |
| Refi | 2 | $100,000 | $50,000 | $2,374 | 7.00% |
For 2024, Miami Firefighters Fcu's most frequently cited loan purpose was Home Improvement, with 45 originations. The 2nd most popular reason was Other, with 19 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 58 | $5,790,000 | $99,828 | $1,980 | 7.31% |
| 10 Year | 7 | $635,000 | $90,714 | $1,847 | 6.25% |
| 5 Year | 1 | $145,000 | $145,000 | $1,897 | 5.75% |
For 2024, Miami Firefighters Fcu's most frequently cited loan duration was 15 Year, with 58 originations. The 2nd most popular length was 10 Year, with 7 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 31 | $2,955,000 | $95,323 |
| 6-7% | 22 | $2,460,000 | $111,818 |
| Over 8% | 7 | $585,000 | $83,571 |
| 5-6% | 5 | $445,000 | $89,000 |
| 3-4% | 1 | $125,000 | $125,000 |
During 2024, Miami Firefighters Fcu's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 31 originations.
Loan Sizing
2024 saw Miami Firefighters Fcu place emphasis on $100,000 or less loans with 36 originations, totaling $2,270,000 in origination value.
Applicant Income
Miami Firefighters Fcu lent most frequently to those with incomes in the $150k-250k range, with 33 originations. The second most popular income band? $100k-150k, with 22 originations.
Applicant Debt to Income Ratio
Miami Firefighters Fcu lent most frequently to those with DTI ratios of 30-36%, with 11 originations. The next most common DTI ratio? 20-30%, with 10 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.57%
Miami Firefighters Fcu has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination96.97%
Miami Firefighters Fcu has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 66 | $6,570,000 | $99,545 |