Tampa Postal Federal Credit Union Mortgage Rates, Fees & Info
Lutz, FLLEI: 549300UICMP0IGY0RG32
Tax ID: 59-0633865
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Tampa Postal Federal Credit Union is a smaller credit union specializing in Home Improvement and Other loans. Tampa Postal Federal Credit Union has an average proportion of conventional loans. Their top markets by origination volume include: Tampa, Cape Coral, Miami, 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 an above average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Cash-out Refi | 6.27% | 11/17/24 |
| 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
38Origination Dollar Volume (All Markets)
$1,950,000Top 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) | 28 | $1,370,000 | $48,929 | $425 | 10.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 7 | $395,000 | $56,429 | $800 | 3.25% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $225 | 7.50% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 31 | $1,505,000 | $48,548 | n/a | 6.63% |
| Conventional | 7 | $445,000 | $63,571 | $460 | 7.50% |
For 2022, Tampa Postal Federal Credit Union's most frequently originated type of loan was HELOC, with 31 originations. Their 2nd most popular type was Conventional, with 7 originations.
Loan Reason
For 2022, Tampa Postal Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 22 originations. The 2nd most popular reason was Other, with 12 originations.
Loan Duration/Length
For 2022, Tampa Postal Federal Credit Union's most frequently cited loan duration was 10 Year, with 27 originations. The 2nd most popular length was Other, with 9 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1 | $55,000 | $55,000 |
| 7-8% | 1 | $95,000 | $95,000 |
| Over 8% | 1 | $35,000 | $35,000 |
During 2022, Tampa Postal Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 35 | $1,625,000 | $46,429 | $460 | 6.92% |
| $100k-200k | 3 | $325,000 | $108,333 | $0 | 0.00% |
2022 saw Tampa Postal Federal Credit Union place emphasis on $100,000 or less loans with 35 originations, totaling $1,625,000 in origination value.
Applicant Income
Tampa Postal Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $75k-100k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 1 | $55,000 | $55,000 | $0 | 3.25% |
Tampa Postal Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.30%
Tampa Postal Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination94.74%
Tampa Postal Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 38 | $1,950,000 | $51,316 |