Commonwealth Central Credit Union Mortgage Rates, Fees & Info
San Jose, CALEI: 2549004W7ZN0N715U578
Tax ID: 94-6087440
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Mortgage Data
Review & Overview
Commonwealth Central Credit Union is a smaller credit union specializing in Home Improvement and Other loans. Commonwealth Central Credit Union has an average proportion of conventional loans. Their top markets by origination volume include: San Jose, San Francisco, Salinas, Merced, and Stockton among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Commonwealth Central 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. They typically have relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.72% | 4/5/25 |
| 30 Year Conventional Purchase | 6.72% | 4/5/25 |
| 30 Year Conventional Refi | 6.72% | 4/5/25 |
| 30 Year Cash-out Refi | 6.72% | 4/5/25 |
| 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. | ||
Commonwealth Central Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
122Origination Dollar Volume (All Markets)
$23,040,000Relative Rate
Commonwealth Central Credit Union's average 30 year fixed mortgage rate was
8.77%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 2.22%.
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 |
|---|---|---|---|---|---|
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 98 | $19,310,000 | $197,041 | $0 | 8.75% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 7 | $1,965,000 | $280,714 | $0 | 8.36% |
| SALINAS, CA (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $0 | 8.13% |
| MERCED, CA (FHA|USDA|VA) | 5 | $395,000 | $79,000 | $0 | 8.85% |
| STOCKTON, CA (FHA|USDA|VA) | 4 | $330,000 | $82,500 | $0 | 8.81% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 11.50% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 8.50% |
| Red Bluff, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 8.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 8.50% |
| Outside of Metro Areas | 1 | $35,000 | $35,000 | $0 | 9.50% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 10.50% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against CommonWealth Central Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 107 | $21,245,000 | $198,551 | n/a | 8.77% |
| Conventional | 15 | $1,795,000 | $119,667 | $0 | 8.72% |
For 2024, Commonwealth Central Credit Union's most frequently originated type of loan was HELOC, with 107 originations. Their 2nd most popular type was Conventional, with 15 originations.
Loan Reason
For 2024, Commonwealth Central Credit Union's most frequently cited loan purpose was Home Improvement, with 66 originations. The 2nd most popular reason was Other, with 39 originations.
Loan Duration/Length
For 2024, Commonwealth Central Credit Union's most frequently cited loan duration was 30 Year, with 107 originations. The 2nd most popular length was 20 Year, with 6 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 102 | $19,490,000 | $191,078 |
| 7-8% | 20 | $3,550,000 | $177,500 |
During 2024, Commonwealth Central Credit Union's average interest rate for loans was 8.77%, while their most frequently originated rate bucket for loans was Over 8%, with 102 originations.
Loan Sizing
2024 saw Commonwealth Central Credit Union place emphasis on $100k-200k loans with 46 originations, totaling $5,660,000 in origination value.
Applicant Income
Commonwealth Central Credit Union lent most frequently to those with incomes in the $150k-250k range, with 47 originations. The second most popular income band? $250k+, with 41 originations.
Applicant Debt to Income Ratio
Commonwealth Central Credit Union lent most frequently to those with DTI ratios of 20-30%, with 42 originations. The next most common DTI ratio? 30-36%, with 23 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications75.11%
Commonwealth Central Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination80.33%
Commonwealth Central Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1663.0 | 1 | $505,000 | $505,000 |
| 364.0 | 1 | $85,000 | $85,000 |
| 413.0 | 3 | $215,000 | $71,667 |
| 438.0 | 2 | $260,000 | $130,000 |
| 449.94 | 1 | $35,000 | $35,000 |
| 502.93 | 1 | $35,000 | $35,000 |
| 659.52 | 1 | $155,000 | $155,000 |
| 684.83 | 1 | $55,000 | $55,000 |
| 721.84 | 1 | $25,000 | $25,000 |
| 777.58 | 1 | $85,000 | $85,000 |
| 899.88 | 1 | $105,000 | $105,000 |
| 972.31 | 1 | $235,000 | $235,000 |
| NA | 107 | $21,245,000 | $198,551 |