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: Morehead City, New Bern, Raleigh, Greenville, and Durham 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. They have an average pick rate when compared to similar lenders.
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Originations
92Origination Dollar Volume (All Markets)
$11,030,000Top 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 |
|---|---|---|---|---|---|
| Morehead City, NC (FHA|USDA|VA) | 22 | $2,950,000 | $134,091 | $0 | 0.00% |
| NEW BERN, NC (FHA|USDA|VA) | 25 | $2,735,000 | $109,400 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 19 | $2,515,000 | $132,368 | $0 | 0.00% |
| GREENVILLE, NC (FHA|USDA|VA) | 9 | $835,000 | $92,778 | $0 | 0.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 4 | $500,000 | $125,000 | $0 | 0.00% |
| Kinston, NC (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $0 | 0.00% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 4 | $430,000 | $107,500 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $0 | 0.00% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| Wilson, NC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 92 | $11,030,000 | $119,891 | $0 | 0.00% |
For 2019, First Flight Federal Credit Union's most frequently originated type of loan was Conventional, with 92 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 62 | $6,000,000 | $96,774 | $0 | 0.00% |
| Home Purchase | 19 | $3,085,000 | $162,368 | $0 | 0.00% |
| Refi | 11 | $1,945,000 | $176,818 | $0 | 0.00% |
For 2019, First Flight Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 62 originations. The 2nd most popular reason was Home Purchase, with 19 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 92 | $11,030,000 | $119,891 | $0 | 0.00% |
For 2019, First Flight Federal Credit Union's most frequently cited loan duration was Other, with 92 originations.
Loan Sizing
2019 saw First Flight Federal Credit Union place emphasis on $100,000 or less loans with 41 originations, totaling $2,445,000 in origination value.
Applicant Income
First Flight Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 27 originations. The second most popular income band? $50k-75k, with 25 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 92 | $11,030,000 | $119,891 | $0 | 0.00% |
First Flight Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 92 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 85 | $10,355,000 | $121,824 | $0 | 0.00% |
| Black | 6 | $570,000 | $95,000 | $0 | 0.00% |
| Asian | 1 | $105,000 | $105,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications52.08%
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 origination91.30%
First Flight Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 92 | $11,030,000 | $119,891 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 5 | $465,000 | $93,000 |
| Single Family (1-4 Units):Site-Built | 87 | $10,565,000 | $121,437 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| First Technology Federal Credit Union | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
| First Technology Federal Credit Union | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
| First Technology Federal Credit Union | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 14.3% |
| First Technology Federal Credit Union | Conventional home mortgage | Trouble during payment process | 4 | 57.1% |