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 small credit union specializing in Cash Out Refi, Refi, 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.16% 4/21/24
    30 Year Conventional Purchase 6.47% 4/21/24
    30 Year Conventional Refi 6.43% 4/21/24
    30 Year Cash-out Refi 6.49% 4/21/24
    30 Year FHA Purchase 7.19% 4/21/24
    30 Year FHA Refi 6.27% 4/21/24
    30 Year VA Purchase 6.62% 4/21/24
    15 Year Conventional Purchase 6.18% 4/21/24
    15 Year Conventional Refi 6.19% 4/21/24
    15 Year Cash-out Refi 6.19% 4/21/24
    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

    6,439

    Origination Dollar Volume (All Markets)

    $1,093,305,000
    Show all (8) 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) 2,286 $431,160,000 $188,609 $2,239 2.88%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2,216 $351,920,000 $158,809 $1,818 2.82%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1,021 $147,935,000 $144,892 $1,734 2.84%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 282 $53,940,000 $191,277 $1,902 2.91%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 280 $39,270,000 $140,250 $2,281 2.86%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 123 $21,325,000 $173,374 $1,953 2.85%
    JACKSONVILLE, FL (FHA|USDA|VA) 51 $10,425,000 $204,412 $1,689 2.82%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 44 $7,890,000 $179,318 $2,417 2.92%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 26 $4,770,000 $183,462 $1,853 2.80%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 11 $3,865,000 $351,364 $4,718 2.75%
    Key West, FL (FHA|USDA|VA) 9 $3,585,000 $398,333 $1,381 2.97%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 13 $3,105,000 $238,846 $1,652 2.87%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 11 $2,955,000 $268,636 $4,050 2.55%
    OCALA, FL (FHA|USDA|VA) 15 $1,815,000 $121,000 $1,630 2.96%
    GAINESVILLE, FL (FHA|USDA|VA) 10 $1,570,000 $157,000 $1,255 2.81%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 3 $1,285,000 $428,333 $0 2.92%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 9 $1,255,000 $139,444 $3,373 3.25%
    PUNTA GORDA, FL (FHA|USDA|VA) 4 $880,000 $220,000 $2,135 3.22%
    TALLAHASSEE, FL (FHA|USDA|VA) 5 $805,000 $161,000 $3,058 3.50%
    THE VILLAGES, FL (FHA|USDA|VA) 5 $735,000 $147,000 $732 2.93%
    Okeechobee, FL (FHA|USDA|VA) 3 $695,000 $231,667 $1,843 3.21%
    Palatka, FL (FHA|USDA|VA) 3 $625,000 $208,333 $1,704 3.04%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 3 $585,000 $195,000 $2,433 2.75%
    Outside of Metro Areas 3 $365,000 $121,667 $990 3.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,421 2.75%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $185,000 $185,000 $5,931 3.63%
    Lake City, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 3.00%
    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
    POWER FINANCIAL
    Similarity Rank: 768
    HARBORONE MORTGAGE, LLC
    Similarity Rank: 1280
    COMMUNITY CREDIT UNION OF FLORIDA
    Similarity Rank: 1590
    Citizens First Bank
    Similarity Rank: 1696
    We Florida Financial
    Similarity Rank: 1770
    SAN ANTONIO CITIZENS
    Similarity Rank: 1792
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1974
    AMERANT BANK, NATIONAL ASSOCIATION
    Similarity Rank: 2134
    MIAMI FIREFIGHTERS FCU
    Similarity Rank: 2205

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,936 $866,580,000 $220,168 $1,910 3.08%
    HELOC 2,445 $211,545,000 $86,521 n/a 2.49%
    FHA 33 $6,975,000 $211,364 $7,473 2.94%
    VA 25 $8,205,000 $328,200 $7,275 2.90%

    For 2021, Space Coast Credit Union's most frequently originated type of loan was Conventional, with 3,936 originations. Their 2nd most popular type was HELOC, with 2,445 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 2,156 $176,720,000 $81,967 $523 2.59%
    Cash Out Refi 1,769 $388,865,000 $219,822 $2,147 3.01%
    Refi 1,394 $272,610,000 $195,560 $1,466 2.90%
    Home Purchase 800 $224,990,000 $281,238 $2,863 3.18%
    Other 320 $30,120,000 $94,125 $163 2.74%

    For 2021, Space Coast Credit Union's most frequently cited loan purpose was Home Improvement, with 2,156 originations. The 2nd most popular reason was Cash Out Refi, with 1,769 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,235 $554,935,000 $248,293 $2,341 3.25%
    Other 2,184 $175,530,000 $80,371 $2,130 2.33%
    15 Year 1,123 $205,795,000 $183,255 $1,587 2.72%
    20 Year 568 $96,490,000 $169,877 $1,547 3.55%
    10 Year 272 $41,050,000 $150,919 $1,191 2.71%
    30+ year 46 $19,200,000 $417,391 $2,889 3.57%
    5 Year 11 $305,000 $27,727 $0 4.95%

    For 2021, Space Coast Credit Union's most frequently cited loan duration was 30 Year, with 2,235 originations. The 2nd most popular length was Other, with 2,184 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,041 $421,175,000 $206,357
    $1k-2k 1,621 $372,215,000 $229,621
    $2k-3k 158 $32,750,000 $207,278
    $3k-4k 93 $23,715,000 $255,000
    $5k+ 44 $21,240,000 $482,727
    $4k-5k 37 $10,665,000 $288,243

    Space Coast Credit Union's average total fees were $2,341, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,041 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 2,546 $279,730,000 $109,870
    3-4% 2,207 $493,905,000 $223,790
    2.5-3% 1,422 $299,440,000 $210,577
    4-5% 167 $14,475,000 $86,677
    5-6% 92 $5,460,000 $59,348
    6-7% 4 $190,000 $47,500
    7-8% 1 $105,000 $105,000

    During 2021, Space Coast Credit Union's average interest rate for loans was 3.25%, while their most frequently originated rate bucket for loans was <2.5%, with 2,546 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 2,287 $131,685,000 $57,580 $1,014 2.68%
    $100k-200k 2,077 $300,755,000 $144,803 $1,663 2.86%
    $200k-400k 1,727 $463,505,000 $268,387 $2,306 3.02%
    $400k-600k 256 $121,970,000 $476,445 $3,011 3.10%
    $600k-1MM 78 $56,500,000 $724,359 $4,705 3.11%
    $1MM+ 14 $18,890,000 $1,349,286 $10,730 2.94%

    2021 saw Space Coast Credit Union place emphasis on $100,000 or less loans with 2,287 originations, totaling $131,685,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,645 $298,645,000 $181,547 $1,955 2.87%
    $50k-75k 1,332 $170,500,000 $128,003 $1,677 2.92%
    $75k-100k 1,182 $180,620,000 $152,809 $1,913 2.84%
    $150k-250k 1,069 $225,235,000 $210,697 $2,353 2.73%
    $50k or less 729 $72,715,000 $99,746 $1,566 3.01%
    $250k+ 386 $128,230,000 $332,202 $4,084 2.70%

    Space Coast Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,645 originations. The second most popular income band? $50k-75k, with 1,332 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,500 $251,180,000 $167,453 $1,760 2.86%
    30-36% 1,256 $218,880,000 $174,268 $2,002 2.87%
    <20% 556 $90,750,000 $163,219 $1,555 2.79%
    49% 270 $33,330,000 $123,444 $2,860 2.51%
    41% 252 $43,130,000 $171,151 $2,306 2.96%
    39% 251 $48,565,000 $193,486 $2,190 3.00%
    40% 248 $46,620,000 $187,984 $2,304 2.98%
    42% 243 $45,155,000 $185,823 $1,899 3.02%
    44% 230 $40,140,000 $174,522 $2,211 2.91%
    36% 223 $43,085,000 $193,206 $2,186 2.94%
    43% 220 $38,230,000 $173,773 $2,390 2.96%
    38% 216 $40,820,000 $188,981 $2,036 2.89%
    37% 195 $35,125,000 $180,128 $1,839 2.95%
    45% 170 $27,070,000 $159,235 $2,112 2.77%
    47% 168 $29,060,000 $172,976 $2,081 2.72%
    46% 162 $27,010,000 $166,728 $2,696 2.83%
    48% 160 $23,240,000 $145,250 $2,248 2.63%
    50-60% 112 $11,390,000 $101,696 $2,790 2.42%
    >60% 7 $525,000 $75,000 $0 2.39%

    Space Coast Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,500 originations. The next most common DTI ratio? 30-36%, with 1,256 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,697 $800,865,000 $170,506 $1,988 2.85%
    Not provided 1,087 $170,535,000 $156,886 $1,851 2.84%
    Black 424 $73,170,000 $172,571 $2,251 2.97%
    Asian 161 $35,705,000 $221,770 $2,012 2.70%
    American Indian 43 $8,185,000 $190,349 $2,280 2.89%
    Asian Indian 7 $1,275,000 $182,143 $2,367 2.95%
    Native Hawaiian or Islander 11 $1,215,000 $110,455 $1,381 3.02%
    Other Asian 3 $1,095,000 $365,000 $2,373 3.21%
    Filipino 2 $710,000 $355,000 $0 3.81%
    Other Pacific Islander 2 $360,000 $180,000 $4,330 2.37%
    Korean 1 $105,000 $105,000 $3,759 3.50%
    Samoan 1 $85,000 $85,000 $2,177 2.25%

    Approval Rates

    Total approvals of all applications
    78.97%

    Space Coast Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    54.05%

    Space Coast Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 6,439 $1,093,305,000 $169,794

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    6,439 $1,093,305,000 $169,794

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,281 $150,915,000 $117,810 $1,307 2.65%
    40-60% 1,283 $238,985,000 $186,270 $1,750 2.84%
    60-80% 1,669 $430,885,000 $258,170 $2,285 3.12%
    80-100% 620 $180,570,000 $291,242 $2,672 3.19%
    Under 20% 1,586 $91,950,000 $57,976 $208 2.61%