First Flight Federal Credit Union Mortgage Rates, Fees & Info
Cary, NCLEI: 549300SENIFFLVGUHE44
Tax ID: 56-0582031
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Mortgage Data
Review & Overview
First Flight Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. First Flight Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New Bern, Morehead City, Raleigh, Boone, and Greenville among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)First Flight Federal Credit Union has a below average approval rate when compared to the average across all lenders.
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Originations
39Origination Dollar Volume (All Markets)
$4,795,000Top 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 |
|---|---|---|---|---|---|
| NEW BERN, NC (FHA|USDA|VA) | 19 | $1,855,000 | $97,632 | $0 | 0.00% |
| Morehead City, NC (FHA|USDA|VA) | 7 | $1,145,000 | $163,571 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $0 | 0.00% |
| Boone, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Kinston, NC (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 0.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Washington, NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $25,000 | $25,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 39 | $4,795,000 | $122,949 | $0 | 0.00% |
For 2018, First Flight Federal Credit Union's most frequently originated type of loan was Conventional, with 39 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 20 | $2,150,000 | $107,500 | $0 | 0.00% |
| Home Purchase | 17 | $2,385,000 | $140,294 | $0 | 0.00% |
| Refi | 2 | $260,000 | $130,000 | $0 | 0.00% |
For 2018, First Flight Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 20 originations. The 2nd most popular reason was Home Purchase, with 17 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 39 | $4,795,000 | $122,949 | $0 | 0.00% |
For 2018, First Flight Federal Credit Union's most frequently cited loan duration was Other, with 39 originations.
Loan Sizing
2018 saw First Flight Federal Credit Union place emphasis on $100k-200k loans with 18 originations, totaling $2,490,000 in origination value.
Applicant Income
First Flight Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 11 originations. The second most popular income band? $50k-75k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 39 | $4,795,000 | $122,949 | $0 | 0.00% |
First Flight Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 39 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 35 | $4,535,000 | $129,571 | $0 | 0.00% |
| Black | 3 | $215,000 | $71,667 | $0 | 0.00% |
| Not provided | 1 | $45,000 | $45,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications52.00%
First Flight Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 39 | $4,795,000 | $122,949 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 3 | $195,000 | $65,000 |
| Single Family (1-4 Units):Site-Built | 36 | $4,600,000 | $127,778 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| First Technology Federal Credit Union | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| First Technology Federal Credit Union | Other type of mortgage | Trouble during payment process | 1 | 50.0% |