Tampa Postal Federal Credit Union Mortgage Rates, Fees & Info
Lutz, FLLEI: 549300UICMP0IGY0RG32
Tax ID: 59-0633865
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Mortgage Data
Review & Overview
Tampa Postal Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Tampa Postal Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Tampa, Cape Coral, Orlando, and Lakeland among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Tampa Postal Federal Credit Union 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.
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 Cash-out Refi | 6.27% | 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. | ||
Tampa Postal Federal Credit Union Mortgage Calculator
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Originations
19Origination Dollar Volume (All Markets)
$1,335,000Top 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 |
|---|---|---|---|---|---|
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 15 | $925,000 | $61,667 | $0 | 10.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 13 | $1,025,000 | $78,846 | $0 | 0.00% |
| HELOC | 6 | $310,000 | $51,667 | n/a | 10.00% |
For 2019, Tampa Postal Federal Credit Union's most frequently originated type of loan was Conventional, with 13 originations. Their 2nd most popular type was HELOC, with 6 originations.
Loan Reason
For 2019, Tampa Postal Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 7 originations. The 2nd most popular reason was Home Improvement, with 5 originations.
Loan Duration/Length
For 2019, Tampa Postal Federal Credit Union's most frequently cited loan duration was 30 Year, with 6 originations. The 2nd most popular length was Other, with 6 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 1 | $55,000 | $55,000 |
During 2019, Tampa Postal Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 15 | $865,000 | $57,667 | $0 | 10.00% |
| $100k-200k | 4 | $470,000 | $117,500 | $0 | 0.00% |
2019 saw Tampa Postal Federal Credit Union place emphasis on $100,000 or less loans with 15 originations, totaling $865,000 in origination value.
Applicant Income
Tampa Postal Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $50k or less, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 3 | $135,000 | $45,000 | $0 | 10.00% |
| 41% | 1 | $95,000 | $95,000 | $0 | 0.00% |
Tampa Postal Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 3 originations. The next most common DTI ratio? 41%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.59%
Tampa Postal Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination68.42%
Tampa Postal Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 19 | $1,335,000 | $70,263 |