Is Community First Credit Union of Florida a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Community First Credit Union of Florida to those of other lenders for a comparable set of borrowers. Here is our review of Community First Credit Union of Florida nationally:
|Review Item||Community First Credit Union of Florida|
|Interest Rate||lower than other lenders (-0.37%)|
|Loan Related Closing Costs||lower than other lenders (-$2396)|
|National Rate and Closing Cost Star Rating||(5)|
On average, Community First Credit Union of Florida’s interest rates were lower than those of other lenders (-0.37%). Its loan related closing costs were also lower than those of other lenders, with a difference of -$2396. Overall, combining interest rates and closing costs we estimate that Community First Credit Union of Florida tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 5 out of 5 stars. This is a fantastic rating and places it among the top 5% of lenders nationwide.
We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Community First Credit Union of Florida, check out its website at: https://www.communityfirstfl.org.
Community First Credit Union of Florida’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Community First Credit Union of Florida was most active in:
In addition, Community First Credit Union of Florida is our top ranked/best mortgage lender in terms of interest rate and closing costs in:
- Jacksonville, FL, overall
Community First Credit Union of Florida’s Rate Review by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Community First Credit Union of Florida originated Conforming and Jumbo mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.
|New Purchase Mortgages||Conforming||Jumbo|
|Interest Rate Difference||-0.21%||-0.01%|
|Loan Related Closing Cost Difference||-$2254||-$90|
|Cost Adjusted Rate Difference||-0.41%||-0.01%|
|National Star Rating|
|Interest Rate Difference||-0.45%||-0.03%|
|Loan Related Closing Cost Difference||-$2505||+$286|
|Cost Adjusted Rate Difference||-0.69%||-0.03%|
|Average Star Rating|
As a summary, Community First Credit Union of Florida is cheap for Conforming purchase mortgages. It is similar to other lenders for Jumbo purchase mortgages. For refinancing, Community First Credit Union of Florida is cheap for Conforming mortgage refinance. It is similar to other lenders for Jumbo mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about Community First Credit Union of Florida:
Registered city and state: JACKSONVILLE, FL, 32204
Regulator: National Credit Union Administration (NCUA)
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Community First Credit Union of Florida’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.