Space Coast Credit Union Mortgage Rates, Fees & InfoMelbourne, FL
Tax ID: 59-0746906
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewSpace Coast Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. Space Coast Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Miami, Palm Bay, Deltona, Orlando, and Sebastian among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)
Space Coast Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Space Coast 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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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||6.16%||3/24/23|
|30 Year Conventional Purchase||6.47%||3/24/23|
|30 Year Conventional Refi||6.43%||3/24/23|
|30 Year Cash-out Refi||6.49%||3/24/23|
|30 Year FHA Purchase||7.19%||3/24/23|
|30 Year FHA Refi||6.27%||3/24/23|
|30 Year VA Purchase||6.62%||3/24/23|
|15 Year Conventional Purchase||6.18%||3/24/23|
|15 Year Conventional Refi||6.19%||3/24/23|
|15 Year Cash-out Refi||6.19%||3/24/23|
|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.|
Origination Dollar Volume (All Markets)$834,120,000
Space Coast Credit Union's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.44%.
Relative Fees (Closing Costs)
Space Coast Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,221.
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 $4,750.
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|
|Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)||2,302||$335,270,000||$145,643||$2,147||4.10%|
|PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA)||1,997||$250,825,000||$125,601||$1,592||4.01%|
|DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA)||981||$109,215,000||$111,330||$1,665||4.01%|
|ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)||271||$41,415,000||$152,823||$2,328||4.09%|
|Sebastian-Vero Beach, FL (FHA|USDA|VA)||273||$28,905,000||$105,879||$1,459||4.11%|
|PORT ST. LUCIE, FL (FHA|USDA|VA)||153||$22,215,000||$145,196||$2,113||3.99%|
|JACKSONVILLE, FL (FHA|USDA|VA)||46||$9,720,000||$211,304||$2,213||4.56%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||55||$8,065,000||$146,636||$1,890||4.46%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||34||$5,110,000||$150,294||$2,186||4.30%|
|LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA)||24||$4,640,000||$193,333||$3,002||4.41%|
|Key West, FL (FHA|USDA|VA)||12||$3,780,000||$315,000||$1,713||5.34%|
|NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)||18||$3,280,000||$182,222||$4,563||3.93%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||16||$3,210,000||$200,625||$3,500||4.36%|
|OCALA, FL (FHA|USDA|VA)||15||$1,775,000||$118,333||$4,016||3.68%|
|HOMOSASSA SPRINGS, FL (FHA|USDA|VA)||7||$1,375,000||$196,429||$4,740||4.19%|
|Clewiston, FL (FHA|USDA|VA)||4||$910,000||$227,500||$1,627||5.50%|
|GAINESVILLE, FL (FHA|USDA|VA)||5||$875,000||$175,000||$7,153||3.27%|
|SEBRING-AVON PARK, FL (FHA|USDA|VA)||6||$640,000||$106,667||$5,008||3.95%|
|TALLAHASSEE, FL (FHA|USDA|VA)||4||$610,000||$152,500||$3,690||4.75%|
|THE VILLAGES, FL (FHA|USDA|VA)||4||$550,000||$137,500||$413||4.75%|
|Outside of Metro Areas||4||$480,000||$120,000||$4,262||4.37%|
|PANAMA CITY, FL (FHA|USDA|VA)||4||$360,000||$90,000||$0||4.87%|
|Palatka, FL (FHA|USDA|VA)||2||$320,000||$160,000||$1,137||6.00%|
|CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA)||2||$310,000||$155,000||$1,362||5.31%|
|PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA)||1||$265,000||$265,000||$6,080||3.38%|
We use machine learning to identify the top lenders compared against SPACE COAST 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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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Space Coast Credit Union's most frequently originated type of loan was HELOC, with 3,939 originations. Their 2nd most popular type was Conventional, with 2,280 originations.
For 2022, Space Coast Credit Union's most frequently cited loan purpose was Home Improvement, with 2,989 originations. The 2nd most popular reason was Other, with 1,510 originations.
For 2022, Space Coast Credit Union's most frequently cited loan duration was Other, with 2,935 originations. The 2nd most popular length was 20 Year, with 1,446 originations.
Origination Fees/Closing Costs
Space Coast Credit Union's average total fees were $3,221, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,375 originations.
During 2022, Space Coast Credit Union's average interest rate for loans was 4.32%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,395 originations.
2022 saw Space Coast Credit Union place emphasis on $100,000 or less loans with 3,365 originations, totaling $191,675,000 in origination value.
Space Coast Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,694 originations. The second most popular income band? $150k-250k, with 1,373 originations.
Applicant Debt to Income Ratio
Space Coast Credit Union lent most frequently to those with DTI ratios of 30-36%, with 1,104 originations. The next most common DTI ratio? 20-30%, with 1,097 originations.
Approval RatesTotal approvals of all applications
Space Coast Credit Union has a below average approval rate.
Pick RateApprovals leading to origination
Space Coast Credit Union has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|