Space Coast Credit Union Mortgage Rates, Fees & Info

Melbourne, FL

LEI: 549300VN9E1DEKF26E34

Tax ID: 59-0746906

5 stars - out of 5 stars, based on 79 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Space 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		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.


    Originations

    6,240

    Origination Dollar Volume (All Markets)

    $834,120,000
    Show all (8) awards

    Relative Rate

    Space Coast Credit Union's average 30 year fixed mortgage rate was 4.32%.

    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.

    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
    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%
    Space Coast Credit Union's top markets include Miami, Palm Bay, Deltona, Orlando, and Sebastian among others.

    Their top states include:
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    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.

    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 167
    HARBORONE MORTGAGE, LLC
    Similarity Rank: 800
    Citizens First Bank
    Similarity Rank: 1272
    ALL WESTERN MORTGAGE, INC.
    Similarity Rank: 1274
    SAN ANTONIO CITIZENS
    Similarity Rank: 1280
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1410
    We Florida Financial
    Similarity Rank: 1416
    AMERANT BANK, NATIONAL ASSOCIATION
    Similarity Rank: 1746
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 2224
    IVY MORTGAGE, INC.
    Similarity Rank: 2242

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 3,939 $383,965,000 $97,478 n/a 3.57%
    Conventional 2,280 $444,700,000 $195,044 $1,813 4.93%
    FHA 16 $4,120,000 $257,500 $9,271 4.39%
    VA 5 $1,335,000 $267,000 $9,382 3.88%

    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.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 2,989 $268,055,000 $89,680 $52 3.80%
    Other 1,510 $137,950,000 $91,358 $103 4.50%
    Home Purchase 767 $223,915,000 $291,936 $3,132 4.46%
    Cash Out Refi 630 $147,710,000 $234,460 $3,031 3.95%
    Refi 344 $56,490,000 $164,215 $1,704 3.82%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 2,935 $253,995,000 $86,540 $0 2.99%
    20 Year 1,446 $171,820,000 $118,824 $244 5.56%
    30 Year 1,097 $310,855,000 $283,368 $3,221 4.32%
    15 Year 356 $46,280,000 $130,000 $1,173 4.79%
    10 Year 261 $18,385,000 $70,441 $284 5.37%
    5 Year 86 $3,160,000 $36,744 $1 5.13%
    30+ year 59 $29,625,000 $502,119 $3,178 4.63%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,375 $193,725,000 $140,891
    $1k-2k 746 $208,930,000 $280,067
    $2k-3k 68 $14,270,000 $209,853
    $3k-4k 37 $10,375,000 $280,405
    $5k+ 35 $14,535,000 $415,286
    $4k-5k 22 $7,390,000 $335,909

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,395 $166,555,000 $119,394
    3-4% 1,289 $223,015,000 $173,014
    5-6% 1,030 $143,350,000 $139,175
    <2.5% 882 $75,060,000 $85,102
    4-5% 873 $143,595,000 $164,485
    6-7% 605 $65,365,000 $108,041
    7-8% 128 $14,330,000 $111,953
    Over 8% 38 $2,850,000 $75,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 3,365 $191,675,000 $56,961 $237 4.02%
    $100k-200k 1,557 $208,015,000 $133,600 $1,692 4.05%
    $200k-400k 1,015 $268,385,000 $264,419 $3,140 4.19%
    $400k-600k 227 $107,615,000 $474,075 $4,199 4.19%
    $600k-1MM 65 $45,635,000 $702,077 $4,813 4.17%
    $1MM+ 11 $12,795,000 $1,163,182 $9,203 4.11%

    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.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,694 $221,460,000 $130,732 $1,949 4.10%
    $150k-250k 1,373 $224,975,000 $163,857 $2,146 3.97%
    $75k-100k 1,034 $117,400,000 $113,540 $1,707 4.21%
    $50k-75k 993 $94,225,000 $94,889 $1,679 4.08%
    $50k or less 557 $40,845,000 $73,330 $1,294 4.15%
    $250k+ 502 $124,990,000 $248,984 $3,124 3.81%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 1,104 $149,070,000 $135,027 $1,842 4.10%
    20-30% 1,097 $141,555,000 $129,038 $1,448 4.02%
    49% 428 $51,840,000 $121,121 $4,025 3.55%
    42% 320 $37,350,000 $116,719 $1,282 4.81%
    44% 311 $44,125,000 $141,881 $2,810 4.20%
    41% 302 $40,800,000 $135,099 $1,574 4.54%
    <20% 299 $40,735,000 $136,237 $1,513 3.91%
    40% 271 $39,825,000 $146,956 $2,295 4.18%
    39% 259 $34,765,000 $134,228 $1,684 4.30%
    48% 244 $34,330,000 $140,697 $3,477 3.79%
    38% 231 $33,975,000 $147,078 $1,669 4.30%
    43% 227 $31,025,000 $136,674 $2,611 3.97%
    37% 218 $28,910,000 $132,615 $1,732 4.19%
    47% 217 $31,645,000 $145,829 $3,227 3.58%
    45% 211 $25,995,000 $123,199 $2,356 3.83%
    36% 198 $29,760,000 $150,303 $1,436 4.25%
    46% 172 $25,060,000 $145,698 $2,880 3.71%
    50-60% 129 $13,115,000 $101,667 $1,727 3.68%
    >60% 2 $240,000 $120,000 $0 4.25%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,098 $565,220,000 $137,926 $1,954 4.02%
    Not provided 1,599 $193,475,000 $120,997 $1,326 4.18%
    Black 385 $50,795,000 $131,935 $2,623 4.12%
    Asian 100 $16,650,000 $166,500 $2,741 3.65%
    American Indian 27 $3,325,000 $123,148 $1,968 4.48%
    Asian Indian 9 $1,425,000 $158,333 $483 4.52%
    Other Asian 9 $1,075,000 $119,444 $682 5.41%
    Other Pacific Islander 4 $1,030,000 $257,500 $0 5.31%
    Filipino 3 $525,000 $175,000 $2,770 5.50%
    Native Hawaiian or Islander 4 $260,000 $65,000 $4,250 4.02%
    Japanese 1 $235,000 $235,000 $0 4.88%
    Native Hawaiian 1 $105,000 $105,000 $0 2.99%

    Approval Rates

    Total approvals of all applications
    75.72%

    Space Coast Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    71.51%

    Space Coast Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    104.0 6 $260,000 $43,333
    112.5 9 $385,000 $42,778
    1242.5 1 $125,000 $125,000
    487.5 1 $115,000 $115,000
    544.0 1 $45,000 $45,000
    NA 6,222 $833,190,000 $133,910

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    6,240 $834,120,000 $133,673

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,631 $211,935,000 $129,942 $976 4.06%
    40-60% 512 $113,760,000 $222,188 $2,842 3.94%
    60-80% 612 $179,760,000 $293,725 $3,366 4.18%
    80-100% 354 $122,550,000 $346,186 $3,217 4.51%
    Over 100% 1 $415,000 $415,000 $19,329 5.88%
    Under 20% 3,130 $205,700,000 $65,719 $61 4.01%