Orlando Credit Union Mortgage Rates, Fees & Info
Orlando, FLLEI: 549300ULZJK0NFBI8J68
Tax ID: 59-1517872
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Mortgage Data
Review & Overview
Orlando Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Orlando Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Orlando, Deltona, Miami, Palm Bay, and Key West among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Orlando Credit Union has a below average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Orlando Credit Union is typically an average 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 relatively high 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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Originations
119Origination Dollar Volume (All Markets)
$22,685,000Awards
ORLANDO CREDIT UNION - 2023
ORLANDO CREDIT UNION is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Orlando Credit Union's average 30 year fixed mortgage rate was
6.33%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.15%.
Relative Fees (Closing Costs)
Orlando Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,060.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
Top 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 |
|---|---|---|---|---|---|
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 101 | $18,105,000 | $179,257 | $1,964 | 7.72% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 5 | $835,000 | $167,000 | $2,635 | 7.58% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $825,000 | $825,000 | $0 | 6.45% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $1,205 | 7.75% |
| Key West, FL (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 6.25% |
| OCALA, FL (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $6,609 | 6.29% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $4,680 | 6.10% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $829 | 7.33% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,375 | 6.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against ORLANDO CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 119 | $22,685,000 | $190,630 | $2,132 | 7.61% |
For 2023, Orlando Credit Union's most frequently originated type of loan was Conventional, with 119 originations.
Loan Reason
For 2023, Orlando Credit Union's most frequently cited loan purpose was Other, with 39 originations. The 2nd most popular reason was Home Purchase, with 37 originations.
Loan Duration/Length
For 2023, Orlando Credit Union's most frequently cited loan duration was 15 Year, with 48 originations. The 2nd most popular length was 30 Year, with 43 originations.
Origination Fees/Closing Costs
Orlando Credit Union's average total fees were $5,060, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 83 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 51 | $3,525,000 | $69,118 |
| 6-7% | 29 | $8,265,000 | $285,000 |
| 5-6% | 22 | $7,680,000 | $349,091 |
| 7-8% | 16 | $2,880,000 | $180,000 |
| 4-5% | 1 | $335,000 | $335,000 |
During 2023, Orlando Credit Union's average interest rate for loans was 6.33%, while their most frequently originated rate bucket for loans was Over 8%, with 51 originations.
Loan Sizing
2023 saw Orlando Credit Union place emphasis on $100,000 or less loans with 50 originations, totaling $2,810,000 in origination value.
Applicant Income
Orlando Credit Union lent most frequently to those with incomes in the $75k-100k range, with 27 originations. The second most popular income band? $100k-150k, with 25 originations.
Applicant Debt to Income Ratio
Orlando Credit Union lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? 30-36%, with 13 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications60.40%
Orlando Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination97.48%
Orlando Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 119 | $22,685,000 | $190,630 |