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 Purchase and Cash Out Refi loans. Miami Firefighters Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Miami, Key West, Cape Coral, Tampa, and Boone among others. We have data for 12 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. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.56% | 4/28/24 |
| 30 Year Conventional Refi | 6.27% | 4/28/24 |
| 30 Year Cash-out Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 4/28/24 |
| 15 Year Conventional Refi | 5.68% | 4/28/24 |
| 15 Year Cash-out Refi | 5.68% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
63Origination Dollar Volume (All Markets)
$12,025,000Awards
MIAMI FIREFIGHTERS FCU - 2019
MIAMI FIREFIGHTERS FCU is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 47 | $9,475,000 | $201,596 | $3,333 | 4.65% |
| Outside of Metro Areas | 2 | $520,000 | $260,000 | $3,666 | 4.25% |
| Key West, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,543 | 3.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $4,007 | 4.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $2,591 | 4.42% |
| Boone, NC (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $3,085 | 4.06% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,121 | 4.50% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,857 | 3.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,973 | 4.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,855 | 7.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $1,174 | 3.63% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $1,089 | 4.75% |
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 | 62 | $11,730,000 | $189,194 | $3,292 | 4.59% |
| VA | 1 | $295,000 | $295,000 | $6,428 | 3.63% |
For 2019, Miami Firefighters Fcu's most frequently originated type of loan was Conventional, with 62 originations. Their 2nd most popular type was VA, with 1 originations.
Loan Reason
For 2019, Miami Firefighters Fcu's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Home Improvement, with 15 originations.
Loan Duration/Length
For 2019, Miami Firefighters Fcu's most frequently cited loan duration was 30 Year, with 33 originations. The 2nd most popular length was 15 Year, with 20 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 33 | $9,225,000 | $279,545 |
| $<1k | 1 | $295,000 | $295,000 |
| $2k-3k | 1 | $445,000 | $445,000 |
| $5k+ | 1 | $205,000 | $205,000 |
Miami Firefighters Fcu's average total fees were $4,481, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 33 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 24 | $5,850,000 | $243,750 |
| 4-5% | 23 | $5,225,000 | $227,174 |
| 5-6% | 10 | $620,000 | $62,000 |
| 6-7% | 5 | $285,000 | $57,000 |
During 2019, Miami Firefighters Fcu's average interest rate for loans was 4.15%, while their most frequently originated rate bucket for loans was 3-4%, with 24 originations.
Loan Sizing
2019 saw Miami Firefighters Fcu place emphasis on $100,000 or less loans with 20 originations, totaling $920,000 in origination value.
Applicant Income
Miami Firefighters Fcu lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $150k-250k, with 18 originations.
Applicant Debt to Income Ratio
Miami Firefighters Fcu lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? 30-36%, with 10 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.42%
Miami Firefighters Fcu has an average approval rate.
Pick Rate
Approvals leading to origination96.83%
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 | 63 | $12,025,000 | $190,873 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $145,000 | $145,000 |
| Single Family (1-4 Units):Site-Built | 62 | $11,880,000 | $191,613 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER FIRST MORTGAGE, LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 100.0% |