Space Coast Credit Union Mortgage Rates, Fees & Info

Melbourne, FL

LEI: 549300VN9E1DEKF26E34

Tax ID: 59-0746906

5 stars - Updated: 5/25/25 - out of 5 stars, based on 73 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • 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 27 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Space Coast Credit Union has a below 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.72% 5/25/25
    30 Year Conventional Purchase 6.50% 5/25/25
    30 Year Conventional Refi 6.27% 5/25/25
    30 Year Cash-out Refi 6.55% 5/25/25
    30 Year FHA Purchase 7.58% 5/25/25
    30 Year FHA Refi 7.40% 5/25/25
    30 Year VA Purchase 6.82% 5/25/25
    30 Year VA Refi 6.72% 5/25/25
    15 Year Conventional Purchase 6.92% 5/25/25
    15 Year Conventional Refi 7.36% 5/25/25
    15 Year Cash-out Refi 7.36% 5/25/25
    15 Year VA Purchase 6.20% 5/25/25
    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.

    Space Coast Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Space Coast Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    5,358

    Origination Dollar Volume (All Markets)

    $892,730,000
    Show all (14) awards

    Relative Rate

    Space Coast Credit Union's average 30 year fixed mortgage rate was 6.13%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.42%.

    Relative Fees (Closing Costs)

    Space Coast Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $1,894.

    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 $8,356.

    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) 2,129 $331,525,000 $155,719 $807 6.09%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1,607 $307,465,000 $191,329 $685 5.82%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 681 $77,895,000 $114,383 $560 6.11%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 267 $56,455,000 $211,442 $1,012 6.10%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 219 $28,285,000 $129,155 $704 6.12%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 141 $19,295,000 $136,844 $584 6.18%
    JACKSONVILLE, FL (FHA|USDA|VA) 66 $16,830,000 $255,000 $1,517 5.98%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 65 $15,595,000 $239,923 $1,513 5.99%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 41 $13,215,000 $322,317 $1,234 5.95%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 35 $7,105,000 $203,000 $2,109 6.06%
    Key West, FL (FHA|USDA|VA) 10 $3,350,000 $335,000 $4,411 5.92%
    OCALA, FL (FHA|USDA|VA) 19 $3,055,000 $160,789 $177 6.12%
    PUNTA GORDA, FL (FHA|USDA|VA) 10 $2,710,000 $271,000 $1,655 6.32%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 19 $2,655,000 $139,737 $0 6.68%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 21 $2,415,000 $115,000 $1,948 5.75%
    GAINESVILLE, FL (FHA|USDA|VA) 8 $1,680,000 $210,000 $2,653 5.20%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 6 $850,000 $141,667 $2,453 7.31%
    TALLAHASSEE, FL (FHA|USDA|VA) 3 $525,000 $175,000 $1,663 7.58%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $445,000 $445,000 $0 5.00%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 2 $360,000 $180,000 $4,866 6.37%
    Outside of Metro Areas 1 $245,000 $245,000 $1,285 7.38%
    Okeechobee, FL (FHA|USDA|VA) 2 $230,000 $115,000 $238 7.63%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $225,000 $225,000 $0 6.63%
    Palatka, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 6.88%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.13%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.24%
    Clewiston, FL (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.99%
    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: 84
    SAN ANTONIO CITIZENS
    Similarity Rank: 156
    POWER FINANCIAL
    Similarity Rank: 270
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 297
    COMMUNITY CREDIT UNION OF FLORIDA
    Similarity Rank: 462
    JAX
    Similarity Rank: 540
    FIRSTBANK PUERTO RICO
    Similarity Rank: 672
    INSIGHT
    Similarity Rank: 721
    First Home Bank
    Similarity Rank: 784
    SOUTH FLORIDA EDUCATIONAL
    Similarity Rank: 798

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 3,045 $356,875,000 $117,200 n/a 5.24%
    Conventional 2,293 $528,725,000 $230,582 $682 7.04%
    FHA 16 $5,510,000 $344,375 $12,502 6.60%
    VA 4 $1,620,000 $405,000 $7,136 6.66%

    For 2024, Space Coast Credit Union's most frequently originated type of loan was HELOC, with 3,045 originations. Their 2nd most popular type was Conventional, with 2,293 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 2,029 $197,605,000 $97,390 $24 5.86%
    Other 1,109 $97,345,000 $87,777 $34 6.34%
    Home Purchase 1,069 $415,345,000 $388,536 $1,819 6.08%
    Cash Out Refi 1,005 $153,865,000 $153,100 $605 5.95%
    Refi 146 $28,570,000 $195,685 $741 5.68%

    For 2024, Space Coast Credit Union's most frequently cited loan purpose was Home Improvement, with 2,029 originations. The 2nd most popular reason was Other, with 1,109 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 2,534 $278,160,000 $109,771 $0 4.52%
    20 Year 1,202 $145,890,000 $121,373 $42 8.38%
    30 Year 857 $357,965,000 $417,695 $1,894 6.13%
    10 Year 339 $22,535,000 $66,475 $50 7.26%
    15 Year 220 $23,750,000 $107,955 $288 7.58%
    5 Year 119 $4,665,000 $39,202 $8 6.68%
    30+ year 87 $59,765,000 $686,954 $781 6.06%

    For 2024, Space Coast Credit Union's most frequently cited loan duration was Other, with 2,534 originations. The 2nd most popular length was 20 Year, with 1,202 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,082 $454,430,000 $218,266
    $1k-2k 137 $32,415,000 $236,606
    $2k-3k 60 $27,950,000 $465,833
    $5k+ 18 $8,710,000 $483,889
    $3k-4k 12 $9,040,000 $753,333
    $4k-5k 4 $3,310,000 $827,500

    Space Coast Credit Union's average total fees were $1,894, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,082 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 2,278 $288,940,000 $126,839
    7-8% 975 $121,615,000 $124,733
    6-7% 732 $149,680,000 $204,481
    Over 8% 702 $94,870,000 $135,142
    5-6% 636 $234,650,000 $368,947
    <2.5% 35 $2,975,000 $85,000

    During 2024, Space Coast Credit Union's average interest rate for loans was 6.13%, while their most frequently originated rate bucket for loans was 4-5%, with 2,278 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 2,590 $147,010,000 $56,761 $77 6.04%
    $100k-200k 1,356 $181,430,000 $133,798 $392 5.98%
    $200k-400k 890 $237,510,000 $266,865 $1,773 6.09%
    $400k-600k 306 $150,130,000 $490,621 $1,730 5.85%
    $600k-1MM 179 $129,035,000 $720,866 $1,756 5.74%
    $1MM+ 37 $47,615,000 $1,286,892 $3,487 6.27%

    2024 saw Space Coast Credit Union place emphasis on $100,000 or less loans with 2,590 originations, totaling $147,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,461 $197,465,000 $135,157 $651 6.11%
    $150k-250k 1,456 $293,070,000 $201,284 $906 5.92%
    $75k-100k 757 $74,065,000 $97,840 $618 6.22%
    $250k+ 754 $258,670,000 $343,064 $1,595 5.58%
    $50k-75k 610 $44,350,000 $72,705 $373 6.39%
    $50k or less 241 $12,515,000 $51,929 $427 6.37%

    Space Coast Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,461 originations. The second most popular income band? $150k-250k, with 1,456 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 844 $145,890,000 $172,855 $880 6.13%
    20-30% 758 $120,300,000 $158,707 $707 5.84%
    49% 509 $76,045,000 $149,401 $916 5.61%
    48% 268 $40,890,000 $152,575 $897 5.92%
    44% 262 $47,480,000 $181,221 $729 6.17%
    43% 244 $44,770,000 $183,484 $405 6.30%
    47% 242 $45,680,000 $188,760 $591 5.97%
    42% 238 $37,680,000 $158,319 $1,399 6.32%
    46% 233 $42,405,000 $181,996 $827 6.14%
    45% 228 $39,570,000 $173,553 $729 6.26%
    41% 224 $37,210,000 $166,116 $767 6.23%
    <20% 216 $33,740,000 $156,204 $706 5.68%
    37% 202 $42,000,000 $207,921 $1,195 5.98%
    50-60% 193 $22,045,000 $114,223 $125 6.09%
    39% 182 $32,500,000 $178,571 $473 6.10%
    40% 179 $29,375,000 $164,106 $552 5.90%
    38% 168 $27,580,000 $164,167 $448 6.20%
    36% 168 $27,570,000 $164,107 $1,116 6.00%

    Space Coast Credit Union lent most frequently to those with DTI ratios of 30-36%, with 844 originations. The next most common DTI ratio? 20-30%, with 758 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,982 $633,720,000 $159,146 $742 6.02%
    Not provided 733 $126,365,000 $172,394 $755 5.93%
    Asian 183 $68,635,000 $375,055 $1,239 5.87%
    Black 389 $56,055,000 $144,100 $955 6.21%
    American Indian 40 $4,060,000 $101,500 $43 6.07%
    Asian Indian 9 $1,255,000 $139,444 $0 5.85%
    Native Hawaiian or Islander 10 $1,190,000 $119,000 $0 5.87%
    Other Asian 7 $845,000 $120,714 $0 7.10%
    Chinese 1 $245,000 $245,000 $0 4.24%
    Other Pacific Islander 2 $220,000 $110,000 $0 6.62%
    Japanese 1 $105,000 $105,000 $0 6.99%
    Filipino 1 $35,000 $35,000 $0 4.24%

    Approval Rates

    Total approvals of all applications
    67.23%

    Space Coast Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    72.83%

    Space Coast Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,358 $892,730,000 $166,616

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    5,358 $892,730,000 $166,616

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,611 $237,365,000 $147,340 $245 5.99%
    40-60% 327 $90,055,000 $275,398 $1,295 6.04%
    60-80% 394 $176,890,000 $448,959 $1,738 6.21%
    80-100% 434 $208,690,000 $480,853 $2,220 6.10%
    Under 20% 2,592 $179,730,000 $69,340 $33 5.98%