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

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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

    Miami Firefighters Fcu is a smaller credit union specializing in Cash Out Refi and Refi loans. Miami Firefighters Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Miami, Boone, Orlando, Port St. Lucie, and Sebring among others. We have data for 7 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% 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






    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

    84

    Origination Dollar Volume (All Markets)

    $21,760,000

    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) 70 $18,590,000 $265,571 $4,141 3.14%
    Boone, NC (FHA|USDA|VA) 4 $930,000 $232,500 $3,992 3.22%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $735,000 $245,000 $4,654 3.13%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $610,000 $305,000 $3,565 2.63%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 3 $385,000 $128,333 $2,846 3.75%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $355,000 $355,000 $3,724 2.75%
    Outside of Metro Areas 1 $155,000 $155,000 $3,113 3.38%
    Miami Firefighters Fcu's top markets include Miami, Boone, Orlando, Port St. Lucie, and Sebring among others.

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

    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 167
    POWER FINANCIAL
    Similarity Rank: 768
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 1584
    We Florida Financial
    Similarity Rank: 1770
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1950
    AMERANT BANK, NATIONAL ASSOCIATION
    Similarity Rank: 2134
    MIAMI FIREFIGHTERS FCU
    Similarity Rank: 2205
    Suncoast Credit Union
    Similarity Rank: 2730
    SOUTH FLORIDA EDUCATIONAL
    Similarity Rank: 3054
    TrustCo Bank
    Similarity Rank: 3808

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 83 $21,015,000 $253,193 $4,008 3.16%
    VA 1 $745,000 $745,000 $9,649 2.88%

    For 2021, Miami Firefighters Fcu's most frequently originated type of loan was Conventional, with 83 originations. Their 2nd most popular type was VA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 32 $10,950,000 $342,188 $4,335 3.02%
    Refi 26 $5,610,000 $215,769 $4,234 2.61%
    Home Purchase 13 $4,015,000 $308,846 $4,835 3.12%
    Home Improvement 11 $855,000 $77,727 $2,001 4.84%
    Other 2 $330,000 $165,000 $4,304 3.38%

    For 2021, Miami Firefighters Fcu's most frequently cited loan purpose was Cash Out Refi, with 32 originations. The 2nd most popular reason was Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 42 $13,350,000 $317,857 $4,548 3.18%
    15 Year 32 $6,180,000 $193,125 $3,706 3.17%
    20 Year 8 $2,100,000 $262,500 $3,681 2.75%
    10 Year 2 $130,000 $65,000 $1,593 3.81%

    For 2021, Miami Firefighters Fcu's most frequently cited loan duration was 30 Year, with 42 originations. The 2nd most popular length was 15 Year, with 32 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 63 $18,465,000 $293,095
    $3k-4k 5 $1,555,000 $311,000
    $2k-3k 1 $155,000 $155,000
    $5k+ 1 $315,000 $315,000

    Miami Firefighters Fcu's average total fees were $4,548, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 63 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 30 $9,120,000 $304,000
    3-4% 29 $8,645,000 $298,103
    <2.5% 17 $3,465,000 $203,824
    4-5% 3 $215,000 $71,667
    5-6% 3 $225,000 $75,000
    6-7% 2 $90,000 $45,000

    During 2021, Miami Firefighters Fcu's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 2.5-3%, with 30 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 37 $10,565,000 $285,541 $4,433 2.90%
    $100k-200k 22 $3,100,000 $140,909 $3,367 2.92%
    $400k-600k 13 $5,935,000 $456,538 $5,118 3.06%
    $100,000 or less 10 $670,000 $67,000 $2,127 4.70%
    $600k-1MM 2 $1,490,000 $745,000 $8,188 3.19%

    2021 saw Miami Firefighters Fcu place emphasis on $200k-400k loans with 37 originations, totaling $10,565,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 31 $8,345,000 $269,194 $4,017 3.16%
    $150k-250k 22 $6,300,000 $286,364 $4,487 3.14%
    $75k-100k 14 $3,340,000 $238,571 $3,904 3.15%
    $50k-75k 8 $1,590,000 $198,750 $3,620 3.42%
    $250k+ 6 $1,930,000 $321,667 $4,802 2.65%
    $50k or less 1 $55,000 $55,000 $1,645 2.88%

    Miami Firefighters Fcu lent most frequently to those with incomes in the $100k-150k range, with 31 originations. The second most popular income band? $150k-250k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 18 $5,250,000 $291,667 $4,034 2.97%
    20-30% 14 $2,940,000 $210,000 $4,358 3.05%
    43% 6 $1,520,000 $253,333 $3,989 2.98%
    44% 6 $1,400,000 $233,333 $3,557 3.56%
    38% 6 $1,340,000 $223,333 $4,097 3.02%
    <20% 5 $615,000 $123,000 $3,518 2.15%
    50-60% 4 $1,690,000 $422,500 $5,721 2.94%
    39% 4 $1,010,000 $252,500 $3,986 3.81%
    40% 4 $1,090,000 $272,500 $3,764 3.50%
    41% 3 $1,275,000 $425,000 $5,131 3.13%
    37% 3 $945,000 $315,000 $4,405 3.21%
    46% 2 $680,000 $340,000 $4,490 2.63%
    42% 2 $310,000 $155,000 $2,499 4.00%
    45% 2 $200,000 $100,000 $2,480 5.19%
    47% 1 $295,000 $295,000 $4,105 2.88%
    48% 1 $745,000 $745,000 $6,728 3.50%
    36% 1 $255,000 $255,000 $3,971 2.88%

    Miami Firefighters Fcu lent most frequently to those with DTI ratios of 30-36%, with 18 originations. The next most common DTI ratio? 20-30%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 69 $17,435,000 $252,681 $4,109 3.18%
    Not provided 7 $2,005,000 $286,429 $3,666 2.71%
    Black 6 $1,740,000 $290,000 $3,954 3.48%
    Asian 2 $580,000 $290,000 $4,700 2.75%

    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
    73.81%

    Miami Firefighters Fcu has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 84 $21,760,000 $259,048

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    84 $21,760,000 $259,048

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $1,970,000 $140,714 $3,146 2.67%
    40-60% 16 $4,900,000 $306,250 $4,192 2.81%
    60-80% 35 $10,665,000 $304,714 $4,591 2.95%
    80-100% 11 $3,665,000 $333,182 $4,969 3.27%
    Under 20% 8 $560,000 $70,000 $1,975 5.38%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    MEMBER FIRST MORTGAGE, LLC Conventional home mortgage Closing on a mortgage 1 33.3%
    MEMBER FIRST MORTGAGE, LLC Conventional home mortgage Incorrect information on your report 1 33.3%
    MEMBER FIRST MORTGAGE, LLC Conventional home mortgage Trouble during payment process 1 33.3%