Space Coast Credit Union Mortgage Rates, Fees & Info

Melbourne, FL

LEI: 549300VN9E1DEKF26E34

Tax ID: 59-0746906

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 Other 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 22 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 an above 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% 11/17/24
    30 Year Conventional Purchase 6.47% 11/17/24
    30 Year Conventional Refi 6.43% 11/17/24
    30 Year Cash-out Refi 6.49% 11/17/24
    30 Year FHA Purchase 7.19% 11/17/24
    30 Year FHA Refi 6.27% 11/17/24
    30 Year VA Purchase 6.62% 11/17/24
    15 Year Conventional Purchase 6.18% 11/17/24
    15 Year Conventional Refi 6.19% 11/17/24
    15 Year Cash-out Refi 6.19% 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.

    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

    3,160

    Origination Dollar Volume (All Markets)

    $418,300,000
    Show all (13) awards

    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) 1,134 $173,270,000 $152,795 $3,275 3.99%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1,150 $138,370,000 $120,322 $2,856 3.98%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 525 $56,685,000 $107,971 $2,490 3.99%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 101 $16,185,000 $160,248 $3,888 3.83%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 120 $13,730,000 $114,417 $2,577 3.94%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 45 $7,655,000 $170,111 $3,535 3.87%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 22 $3,340,000 $151,818 $4,488 4.29%
    Key West, FL (FHA|USDA|VA) 5 $1,815,000 $363,000 $3,962 4.05%
    JACKSONVILLE, FL (FHA|USDA|VA) 13 $1,555,000 $119,615 $3,922 3.79%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 8 $1,330,000 $166,250 $2,668 3.95%
    TALLAHASSEE, FL (FHA|USDA|VA) 6 $760,000 $126,667 $3,159 3.96%
    GAINESVILLE, FL (FHA|USDA|VA) 5 $605,000 $121,000 $2,700 3.72%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 4 $550,000 $137,500 $2,786 3.97%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 6 $510,000 $85,000 $715 3.62%
    PUNTA GORDA, FL (FHA|USDA|VA) 2 $490,000 $245,000 $7,293 3.18%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $435,000 $145,000 $435 3.12%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 3 $325,000 $108,333 $2,427 4.37%
    OCALA, FL (FHA|USDA|VA) 3 $225,000 $75,000 $3,207 4.16%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $195,000 $195,000 $2,986 4.25%
    Outside of Metro Areas 1 $135,000 $135,000 $435 4.13%
    Lake City, FL (FHA|USDA|VA) 2 $70,000 $35,000 $45 4.95%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $65,000 $65,000 $0 2.74%
    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.

    POWER FINANCIAL
    Similarity Rank: 188
    McCoy Federal Credit Union
    Similarity Rank: 342
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 441
    We Florida Financial
    Similarity Rank: 572
    AMERANT BANK, NATIONAL ASSOCIATION
    Similarity Rank: 755
    COMMUNITY CREDIT UNION OF FLORIDA
    Similarity Rank: 927
    SOUTH FLORIDA EDUCATIONAL
    Similarity Rank: 940
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1056
    Citizens First Bank
    Similarity Rank: 1072
    JAX
    Similarity Rank: 1078

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,759 $319,655,000 $181,725 $2,883 4.14%
    HELOC 1,353 $87,165,000 $64,424 n/a 3.78%
    VA 26 $6,630,000 $255,000 $6,358 3.74%
    FHA 22 $4,850,000 $220,455 $7,475 3.90%

    For 2019, Space Coast Credit Union's most frequently originated type of loan was Conventional, with 1,759 originations. Their 2nd most popular type was HELOC, with 1,353 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 1,036 $88,900,000 $85,811 $1,930 4.07%
    Home Purchase 753 $161,435,000 $214,389 $3,627 4.01%
    Home Improvement 669 $40,495,000 $60,531 $999 4.08%
    Cash Out Refi 455 $79,725,000 $175,220 $3,612 3.78%
    Refi 247 $47,745,000 $193,300 $2,641 3.62%

    For 2019, Space Coast Credit Union's most frequently cited loan purpose was Other, with 1,036 originations. The 2nd most popular reason was Home Purchase, with 753 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 1,199 $72,645,000 $60,588 $1,551 3.54%
    30 Year 1,049 $232,515,000 $221,654 $3,666 4.01%
    15 Year 414 $64,310,000 $155,338 $2,557 3.82%
    20 Year 299 $31,225,000 $104,431 $1,885 5.42%
    10 Year 157 $13,685,000 $87,166 $1,176 4.61%
    5 Year 35 $1,275,000 $36,429 $196 4.94%
    30+ year 7 $2,645,000 $377,857 $4,046 4.14%

    For 2019, Space Coast Credit Union's most frequently cited loan duration was Other, with 1,199 originations. The 2nd most popular length was 30 Year, with 1,049 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 836 $120,060,000 $143,612
    $1k-2k 760 $162,730,000 $214,118
    $2k-3k 126 $25,230,000 $200,238
    $3k-4k 45 $10,675,000 $237,222
    $5k+ 18 $7,150,000 $397,222
    $4k-5k 17 $4,635,000 $272,647

    Space Coast Credit Union's average total fees were $3,666, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 836 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,328 $227,190,000 $171,077
    4-5% 690 $105,230,000 $152,507
    2.5-3% 592 $49,370,000 $83,395
    5-6% 399 $28,065,000 $70,338
    6-7% 120 $6,770,000 $56,417
    <2.5% 14 $760,000 $54,286
    7-8% 12 $490,000 $40,833
    Over 8% 3 $115,000 $38,333

    During 2019, Space Coast Credit Union's average interest rate for loans was 4.01%, while their most frequently originated rate bucket for loans was 3-4%, with 1,328 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,599 $83,935,000 $52,492 $1,247 4.08%
    $100k-200k 870 $122,330,000 $140,609 $2,971 3.92%
    $200k-400k 588 $158,980,000 $270,374 $4,018 3.86%
    $400k-600k 87 $40,095,000 $460,862 $5,397 3.67%
    $600k-1MM 14 $10,010,000 $715,000 $7,087 3.59%
    $1MM+ 2 $2,950,000 $1,475,000 $9,876 3.75%

    2019 saw Space Coast Credit Union place emphasis on $100,000 or less loans with 1,599 originations, totaling $83,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 761 $116,465,000 $153,042 $3,167 3.92%
    $50k-75k 758 $83,820,000 $110,580 $2,783 3.99%
    $75k-100k 580 $71,080,000 $122,552 $3,031 4.03%
    $50k or less 504 $38,300,000 $75,992 $2,289 4.06%
    $150k-250k 424 $75,620,000 $178,349 $3,472 3.97%
    $250k+ 130 $32,550,000 $250,385 $4,333 3.78%

    Space Coast Credit Union lent most frequently to those with incomes in the $100k-150k range, with 761 originations. The second most popular income band? $50k-75k, with 758 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 639 $82,785,000 $129,554 $2,874 3.94%
    30-36% 591 $79,105,000 $133,849 $2,976 4.01%
    <20% 236 $31,320,000 $132,712 $2,951 3.87%
    38% 143 $18,255,000 $127,657 $2,510 4.00%
    44% 143 $22,725,000 $158,916 $3,682 3.92%
    42% 141 $17,535,000 $124,362 $2,774 4.25%
    49% 135 $15,865,000 $117,519 $3,171 3.69%
    40% 128 $16,450,000 $128,516 $2,953 4.07%
    43% 125 $18,135,000 $145,080 $3,501 3.90%
    36% 125 $16,945,000 $135,560 $2,788 4.16%
    37% 116 $15,020,000 $129,483 $2,736 4.03%
    39% 113 $16,105,000 $142,522 $2,782 4.21%
    41% 106 $16,060,000 $151,509 $3,226 4.18%
    46% 98 $13,590,000 $138,673 $3,719 3.81%
    48% 87 $11,325,000 $130,172 $3,300 3.90%
    45% 81 $10,385,000 $128,210 $2,997 4.01%
    47% 81 $11,205,000 $138,333 $3,167 4.03%
    50-60% 61 $4,655,000 $76,311 $2,268 3.68%
    >60% 1 $85,000 $85,000 $0 3.74%

    Space Coast Credit Union lent most frequently to those with DTI ratios of 20-30%, with 639 originations. The next most common DTI ratio? 30-36%, with 591 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,854 $267,540,000 $144,304 $3,015 4.03%
    Not provided 1,067 $111,195,000 $104,213 $2,768 3.86%
    Black 174 $27,120,000 $155,862 $3,243 4.15%
    Asian 42 $8,340,000 $198,571 $3,921 4.09%
    American Indian 13 $2,045,000 $157,308 $2,314 4.10%
    Asian Indian 3 $1,325,000 $441,667 $3,807 3.71%
    Native Hawaiian or Islander 5 $655,000 $131,000 $1,247 4.45%
    Filipino 1 $65,000 $65,000 $0 6.24%
    Other Asian 1 $15,000 $15,000 $0 4.24%

    Approval Rates

    Total approvals of all applications
    62.20%

    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
    99.49%

    Space Coast 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 3,160 $418,300,000 $132,373

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 10 $740,000 $74,000
    Single Family (1-4 Units):Site-Built 3,150 $417,560,000 $132,559

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 719 $61,185,000 $85,097 $1,645 4.02%
    40-60% 404 $61,720,000 $152,772 $3,016 3.74%
    60-80% 698 $142,360,000 $203,954 $3,710 3.94%
    80-100% 449 $113,525,000 $252,840 $3,770 3.99%
    Under 20% 878 $38,680,000 $44,055 $349 4.09%