Miami Firefighters Fcu Mortgage Rates, Fees & Info

Miami, FL

LEI: 549300PVS7DLMY766R09

Tax ID: 59-0630266

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

Jump to:

  • 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

    Miami Firefighters Fcu is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Miami Firefighters Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Miami, Boone, Sebring, Punta Gorda, and Atlanta among others. We have data for 6 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 a below average pick rate when compared to similar lenders. Miami Firefighters Fcu 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.56% 12/16/24
    30 Year Conventional Refi 6.27% 12/16/24
    30 Year Cash-out Refi 6.27% 12/16/24
    15 Year Conventional Purchase 5.68% 12/16/24
    15 Year Conventional Refi 5.68% 12/16/24
    15 Year Cash-out Refi 5.68% 12/16/24
    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.

    Miami Firefighters Fcu Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Miami Firefighters Fcu. 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

    37

    Origination Dollar Volume (All Markets)

    $5,665,000

    Awards

    MIAMI FIREFIGHTERS FCU 30 Year Conventional Loans silver
    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
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 31 $5,035,000 $162,419 $3,108 5.27%
    Boone, NC (FHA|USDA|VA) 2 $180,000 $90,000 $2,726 4.94%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $165,000 $165,000 $2,976 5.50%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $145,000 $145,000 $3,499 4.38%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $105,000 $105,000 $2,835 4.75%
    Key West, FL (FHA|USDA|VA) 1 $35,000 $35,000 $2,124 5.75%
    Miami Firefighters Fcu's top markets include Miami, Boone, Sebring, Punta Gorda, and Atlanta among others.

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

    • 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.

    We Florida Financial
    Similarity Rank: 312
    Natbank
    Similarity Rank: 392
    POWER FINANCIAL
    Similarity Rank: 432
    SOUTH FLORIDA EDUCATIONAL
    Similarity Rank: 836
    MIAMI FIREFIGHTERS FCU
    Similarity Rank: 912
    Guardians Credit Union
    Similarity Rank: 948
    Biscayne Bank
    Similarity Rank: 1014
    TrustCo Bank
    Similarity Rank: 1275
    TROPICAL FINANCIAL CREDIT UNION
    Similarity Rank: 1938
    BRIGHTSTAR
    Similarity Rank: 2275

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 37 $5,665,000 $153,108 $3,059 5.24%

    For 2018, Miami Firefighters Fcu's most frequently originated type of loan was Conventional, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 11 $2,635,000 $239,545 $4,160 4.88%
    Home Improvement 10 $700,000 $70,000 $2,013 5.90%
    Cash Out Refi 6 $1,210,000 $201,667 $3,423 4.81%
    Other 5 $545,000 $109,000 $2,692 5.45%
    Refi 5 $575,000 $115,000 $2,588 5.00%

    For 2018, Miami Firefighters Fcu's most frequently cited loan purpose was Home Purchase, with 11 originations. The 2nd most popular reason was Home Improvement, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 18 $4,130,000 $229,444 $3,951 4.83%
    15 Year 12 $1,030,000 $85,833 $2,142 5.50%
    10 Year 4 $210,000 $52,500 $2,008 5.69%
    20 Year 2 $230,000 $115,000 $2,719 6.38%
    5 Year 1 $65,000 $65,000 $1,978 5.25%

    For 2018, Miami Firefighters Fcu's most frequently cited loan duration was 30 Year, with 18 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 19 $4,285,000 $225,526
    $<1k 3 $245,000 $81,667

    Miami Firefighters Fcu's average total fees were $3,951, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 19 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 18 $3,560,000 $197,778
    5-6% 13 $1,335,000 $102,692
    6-7% 4 $310,000 $77,500
    3-4% 2 $460,000 $230,000

    During 2018, Miami Firefighters Fcu's average interest rate for loans was 4.83%, while their most frequently originated rate bucket for loans was 4-5%, with 18 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 15 $895,000 $59,667 $2,027 5.72%
    $100k-200k 12 $1,810,000 $150,833 $3,093 4.98%
    $200k-400k 10 $2,960,000 $296,000 $4,571 4.83%

    2018 saw Miami Firefighters Fcu place emphasis on $100,000 or less loans with 15 originations, totaling $895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 12 $1,820,000 $151,667 $3,147 5.19%
    $100k-150k 9 $1,625,000 $180,556 $3,400 5.39%
    $150k-250k 6 $860,000 $143,333 $2,804 5.44%
    $50k-75k 5 $715,000 $143,000 $2,879 4.43%
    $250k+ 3 $515,000 $171,667 $3,421 5.50%
    $50k or less 2 $130,000 $65,000 $1,855 5.88%

    Miami Firefighters Fcu lent most frequently to those with incomes in the $75k-100k range, with 12 originations. The second most popular income band? $100k-150k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 7 $815,000 $116,429 $2,691 4.82%
    30-36% 6 $600,000 $100,000 $2,517 5.52%
    48% 3 $585,000 $195,000 $3,416 5.63%
    36% 3 $275,000 $91,667 $2,626 5.46%
    <20% 2 $230,000 $115,000 $1,597 5.75%
    37% 2 $410,000 $205,000 $4,031 4.88%
    42% 2 $470,000 $235,000 $3,405 5.50%
    44% 2 $480,000 $240,000 $4,086 4.81%
    45% 2 $100,000 $50,000 $1,713 6.38%
    49% 2 $380,000 $190,000 $3,468 4.31%
    47% 1 $285,000 $285,000 $4,500 4.63%
    38% 1 $195,000 $195,000 $3,560 4.75%
    39% 1 $335,000 $335,000 $5,090 4.88%
    40% 1 $25,000 $25,000 $1,607 6.75%
    41% 1 $145,000 $145,000 $3,499 4.38%
    46% 1 $335,000 $335,000 $4,811 5.00%

    Miami Firefighters Fcu lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? 30-36%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 32 $5,110,000 $159,688 $3,122 5.34%
    Not provided 2 $290,000 $145,000 $3,196 4.81%
    Black 3 $265,000 $88,333 $2,321 4.46%

    Approval Rates

    Total approvals of all applications
    95.65%

    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 origination
    89.19%

    Miami Firefighters Fcu has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 37 $5,665,000 $153,108

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 37 $5,665,000 $153,108

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $1,045,000 $116,111 $2,333 5.15%
    40-60% 4 $900,000 $225,000 $3,874 4.97%
    60-80% 10 $1,810,000 $181,000 $3,500 5.03%
    80-100% 5 $1,385,000 $277,000 $4,348 5.08%
    Under 20% 9 $525,000 $58,333 $2,137 5.76%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MEMBER FIRST MORTGAGE, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%