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, Refi, and Home Purchase loans. Tampa Postal Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Tampa, Cape Coral, Punta Gorda, and North Port 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. Tampa Postal Federal Credit Union 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 Cash-out Refi | 6.27% | 11/21/24 |
| 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
34Origination Dollar Volume (All Markets)
$4,580,000Top 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) | 21 | $2,625,000 | $125,000 | $4,089 | 2.78% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 9 | $1,135,000 | $126,111 | $3,748 | 3.50% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $5,586 | 2.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $3,573 | 3.13% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 30 | $4,390,000 | $146,333 | $4,063 | 2.98% |
| HELOC | 4 | $190,000 | $47,500 | n/a | 0.00% |
For 2021, Tampa Postal Federal Credit Union's most frequently originated type of loan was Conventional, with 30 originations. Their 2nd most popular type was HELOC, with 4 originations.
Loan Reason
For 2021, Tampa Postal Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 12 originations. The 2nd most popular reason was Refi, with 8 originations.
Loan Duration/Length
For 2021, Tampa Postal Federal Credit Union's most frequently cited loan duration was 30 Year, with 14 originations. The 2nd most popular length was 15 Year, with 10 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 16 | $2,300,000 | $143,750 |
| $2k-3k | 8 | $1,100,000 | $137,500 |
| $<1k | 4 | $580,000 | $145,000 |
| $3k-4k | 2 | $410,000 | $205,000 |
Tampa Postal Federal Credit Union's average total fees were $4,164, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 16 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 10 | $1,610,000 | $161,000 |
| <2.5% | 8 | $1,140,000 | $142,500 |
| 3-4% | 8 | $1,060,000 | $132,500 |
| 4-5% | 4 | $580,000 | $145,000 |
During 2021, Tampa Postal Federal Credit Union's average interest rate for loans was 3.36%, while their most frequently originated rate bucket for loans was 2.5-3%, with 10 originations.
Loan Sizing
2021 saw Tampa Postal Federal Credit Union place emphasis on $100k-200k loans with 22 originations, totaling $3,130,000 in origination value.
Applicant Income
Tampa Postal 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
Tampa Postal Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 42%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Tampa Postal Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination82.35%
Tampa Postal Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 34 | $4,580,000 | $134,706 |