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Space Coast Credit Union

MELBOURNE, FL

Space Coast Credit Union processed 11,669 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 5,358 loans with a 32.8% denial rate. Home Improvement was the primary loan purpose. Based in MELBOURNE, FL. The approval rate of 45.9% reflects originated loans as a share of all applications.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% - HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Space Coast Credit Union's 45.9% origination rate tells you how often an application turned into funded money; the 32.8% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Insufficient cash, Other, which together explain the majority of rejections. Most activity concentrated in Conventional loans (11,626 applications).

How to read this page. These figures are aggregate HMDA disclosures, they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting, it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

11,669
Applications
5,358
Originated
32.8%
Denial Rate
$155,359
Avg Loan Amount
Avg Interest Rate: 6.015% Avg Applicant Income: $39,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 11,626 5,338 3,813 $154,696
FHA 33 16 9 $312,879
VA 10 4 2 $407,000

Top loan types - Space Coast Credit Union

Top loan types - Space Coast Credit Union Horizontal bar chart of the top 3 items by value (applications). Top loan types - Space Coast Credit Union Top 3 1. Conventional 11,626 2. FHA 33 3. VA 10 Top 5 loan types by application volume at Space Coast Credit Union (HMDA 2024). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Space Coast Credit Union (LEI: 549300VN9E1DEKF26E34) · 2024 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
2,983
Insufficient cash
1,594
Other
1,579
Credit history
1,312
Collateral
734
Employment history
45
Unverifiable information
40
Credit application incomplete
8

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Improvement 4,320 2,029 $100,438
Other 3,025 1,109 $92,580
Cash-out Refinancing 2,007 1,005 $171,642
Home Purchase 1,977 1,069 $342,582
Refinancing 340 146 $226,971

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 8,077 48.2% 31.0%
Black or African American 1,041 34.9% 43.8%
Asian 404 50.0% 28.0%
Joint 201 60.7% 20.9%
American Indian or Alaska Native 80 33.8% 42.5%
2 or more minority races * 39 12.8% 61.5%
Native Hawaiian or Other Pacific Islander * 39 30.8% 41.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 6,279 49.6% 30.2%
Hispanic or Latino 3,614 38.8% 39.0%
Joint 431 58.7% 19.3%

Nearby Lenders in FL

Other HMDA-reporting lenders in FL with similar activity. Compare any two side-by-side.

Freedom Mortgage Corporation

BOCA RATON, FL

252,504 apps 57,345 originated 4.9% denied

Lakeview Loan Servicing, LLC

Coral Gables, FL

96,650 apps 10,540 originated 25.2% denied

Triad Financial Services, INC.

JACKSONVILLE, FL

86,581 apps 12,731 originated 55.6% denied

Lennar Mortgage, LLC

MIAMI, FL

75,233 apps 55,530 originated 12.4% denied

Phh Mortgage Corporation

West Palm Beach, FL

62,326 apps 4,770 originated 3.4% denied
Compare Space Coast Credit Union vs Freedom Mortgage Corporation →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Space Coast Credit Union process?
Space Coast Credit Union processed 11,669 mortgage applications in the 2024 HMDA reporting year. Of these, 5,358 were originated (approved and funded), 724 were withdrawn by the applicant, and 3,824 were denied.
What is Space Coast Credit Union's mortgage approval rate?
Space Coast Credit Union has an approval (origination) rate of 45.9%, meaning 45.9% of all applications resulted in a funded mortgage. The denial rate is 32.8%.
What is the average loan amount at Space Coast Credit Union?
The average mortgage loan amount at Space Coast Credit Union is $155,359. The average interest rate is 6.015%. The average applicant income is $39,000.
What are the most common reasons for mortgage denial at Space Coast Credit Union?
The most common reasons for mortgage denial at Space Coast Credit Union are: Debt-to-income ratio, Insufficient cash, Other. In total, 3,824 applications were denied out of 11,669 total applications.
What types of mortgage loans does Space Coast Credit Union offer?
Space Coast Credit Union processes Conventional, FHA, VA loans. The most common type is Conventional with 11,626 applications and an average loan amount of $154,696.
What loan purposes does Space Coast Credit Union serve?
Space Coast Credit Union serves the following loan purposes: Home Improvement (4,320 applications), Other (3,025 applications), Cash-out Refinancing (2,007 applications), Home Purchase (1,977 applications), Refinancing (340 applications). Home Improvement is the most common purpose.
Where is Space Coast Credit Union located?
Space Coast Credit Union is headquartered in MELBOURNE, FL. The lender is identified by LEI 549300VN9E1DEKF26E34 in HMDA data.
How does Space Coast Credit Union compare in lending across racial demographics?
Space Coast Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 48.2% and denial rate of 31.0%; Black or African American applicants have an approval rate of 34.9% and denial rate of 43.8%; Asian applicants have an approval rate of 50.0% and denial rate of 28.0%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology - how this data is sourced, computed, and verified.

Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. This page draws directly on CFPB HMDA federal source data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.