Community Choice Credit Union Mortgage Rates, Fees & Info

Johnston, IA

LEI: 254900CQVBYQI6BDWS96

Tax ID: 42-0778245

5 stars - Updated: 4/5/25 - out of 5 stars, based on 34 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Community Choice Credit Union is a smaller credit union specializing in Home Purchase loans. Community Choice 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Des Moines, Ames, Pella, Marshalltown, and Oskaloosa among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Community Choice 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. Community Choice 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) 4.89% 4/5/25
    30 Year Conventional Purchase 6.51% 4/5/25
    30 Year Conventional Refi 6.35% 4/5/25
    30 Year Cash-out Refi 6.48% 4/5/25
    30 Year FHA Purchase 7.67% 4/5/25
    30 Year VA Purchase 6.05% 4/5/25
    30 Year USDA Purchase 6.93% 4/5/25
    15 Year Conventional Purchase 5.94% 4/5/25
    15 Year Conventional Refi 7.45% 4/5/25
    15 Year Cash-out Refi 7.45% 4/5/25
    15 Year VA Purchase 4.93% 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.

    Community Choice Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Community Choice 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

    1,126

    Origination Dollar Volume (All Markets)

    $194,090,000
    Show all (10) awards

    Relative Rate

    Community Choice Credit Union's average 30 year fixed mortgage rate was 6.36%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.19%.

    Relative Fees (Closing Costs)

    Community Choice Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,539.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 907 $165,995,000 $183,015 $2,179 6.44%
    AMES, IA (FHA|USDA|VA) 105 $13,845,000 $131,857 $1,569 6.63%
    Outside of Metro Areas 54 $5,890,000 $109,074 $1,800 6.30%
    Pella, IA (FHA|USDA|VA) 23 $3,565,000 $155,000 $2,138 6.68%
    Marshalltown, IA (FHA|USDA|VA) 12 $1,310,000 $109,167 $1,830 6.54%
    Oskaloosa, IA (FHA|USDA|VA) 3 $675,000 $225,000 $2,338 5.91%
    IOWA CITY, IA (FHA|USDA|VA) 2 $430,000 $215,000 $2,476 6.31%
    Ottumwa, IA (FHA|USDA|VA) 3 $395,000 $131,667 $2,317 6.50%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $390,000 $195,000 $2,574 6.50%
    Mason City, IA (FHA|USDA|VA) 3 $365,000 $121,667 $2,382 6.08%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 2 $340,000 $170,000 $2,787 5.81%
    Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 3 $275,000 $91,667 $2,284 5.87%
    Spirit Lake, IA (FHA|USDA|VA) 2 $230,000 $115,000 $2,554 8.00%
    Burlington, IA-IL (FHA|USDA|VA) 2 $210,000 $105,000 $2,304 6.25%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.99%
    Carroll, IA (FHA|USDA|VA) 1 $55,000 $55,000 $0 9.00%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $35,000 $35,000 $0 9.00%
    Community Choice Credit Union's top markets include Des Moines, Ames, Pella, Marshalltown, and Oskaloosa among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Community Choice Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Bank
    Similarity Rank: 42
    FINANCIAL PLUS Credit Union
    Similarity Rank: 72
    Farmers State Bank
    Similarity Rank: 276
    Bankers Trust Company
    Similarity Rank: 300
    GREATER IOWA CREDIT UNION
    Similarity Rank: 330
    Tradesmen Community Credit Union
    Similarity Rank: 360
    Collins Community Credit Union
    Similarity Rank: 442
    Luana Savings Bank
    Similarity Rank: 570
    Premier Credit Union
    Similarity Rank: 656
    Community Choice Credit Union
    Similarity Rank: 663

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 684 $154,540,000 $225,936 $2,042 6.43%
    HELOC 414 $31,090,000 $75,097 n/a 6.53%
    VA 26 $7,860,000 $302,308 $3,515 5.87%
    FHA 1 $375,000 $375,000 $8,803 7.13%
    USDA 1 $225,000 $225,000 $6,073 6.38%

    For 2024, Community Choice Credit Union's most frequently originated type of loan was Conventional, with 684 originations. Their 2nd most popular type was HELOC, with 414 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 485 $127,925,000 $263,763 $2,498 6.21%
    Other 300 $22,240,000 $74,133 $225 6.73%
    Home Improvement 162 $10,430,000 $64,383 $208 6.59%
    Cash Out Refi 122 $22,360,000 $183,279 $2,387 6.42%
    Refi 57 $11,135,000 $195,351 $1,572 6.78%

    For 2024, Community Choice Credit Union's most frequently cited loan purpose was Home Purchase, with 485 originations. The 2nd most popular reason was Other, with 300 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 885 $163,995,000 $185,305 $2,539 6.36%
    5 Year 91 $10,685,000 $117,418 $262 6.29%
    10 Year 63 $5,035,000 $79,921 $540 6.99%
    15 Year 53 $7,375,000 $139,151 $1,283 7.02%
    20 Year 27 $4,285,000 $158,704 $785 7.71%
    1 Year 3 $1,345,000 $448,333 $0 7.25%
    Other 3 $605,000 $201,667 $0 7.25%
    3 Year 1 $765,000 $765,000 $0 7.25%

    For 2024, Community Choice Credit Union's most frequently cited loan duration was 30 Year, with 885 originations. The 2nd most popular length was 5 Year, with 91 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 411 $109,615,000 $266,703
    $<1k 160 $23,190,000 $144,938
    $2k-3k 45 $15,385,000 $341,889
    $3k-4k 4 $780,000 $195,000
    $4k-5k 4 $1,240,000 $310,000
    $5k+ 4 $1,110,000 $277,500

    Community Choice Credit Union's average total fees were $2,539, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 411 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 561 $70,515,000 $125,695
    6-7% 353 $97,005,000 $274,802
    Over 8% 98 $8,430,000 $86,020
    7-8% 93 $13,785,000 $148,226
    4-5% 21 $4,355,000 $207,381

    During 2024, Community Choice Credit Union's average interest rate for loans was 6.36%, while their most frequently originated rate bucket for loans was 5-6%, with 561 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 473 $26,565,000 $56,163 $669 6.59%
    $200k-400k 287 $80,315,000 $279,843 $2,606 6.27%
    $100k-200k 279 $41,005,000 $146,971 $2,126 6.43%
    $400k-600k 64 $30,080,000 $470,000 $2,291 6.40%
    $600k-1MM 23 $16,125,000 $701,087 $2,349 6.49%

    2024 saw Community Choice Credit Union place emphasis on $100,000 or less loans with 473 originations, totaling $26,565,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 295 $49,185,000 $166,729 $2,028 6.59%
    $150k-250k 256 $54,740,000 $213,828 $2,124 6.59%
    $50k-75k 195 $26,325,000 $135,000 $2,292 6.21%
    $75k-100k 164 $23,110,000 $140,915 $2,095 6.48%
    $250k+ 66 $21,330,000 $323,182 $1,913 6.51%
    $50k or less 62 $6,260,000 $100,968 $2,189 6.14%

    Community Choice Credit Union lent most frequently to those with incomes in the $100k-150k range, with 295 originations. The second most popular income band? $150k-250k, with 256 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 321 $54,915,000 $171,075 $2,111 6.48%
    30-36% 240 $37,320,000 $155,500 $2,186 6.45%
    <20% 156 $31,370,000 $201,090 $2,295 6.27%
    36% 42 $6,370,000 $151,667 $1,601 6.60%
    39% 40 $7,760,000 $194,000 $2,169 6.73%
    37% 36 $4,720,000 $131,111 $1,970 6.32%
    41% 33 $5,235,000 $158,636 $1,645 6.84%
    38% 33 $3,395,000 $102,879 $959 6.73%
    40% 33 $6,075,000 $184,091 $1,748 6.88%
    42% 24 $4,540,000 $189,167 $2,384 6.45%
    45% 16 $3,910,000 $244,375 $2,090 6.29%
    43% 15 $2,095,000 $139,667 $1,408 6.66%
    49% 13 $3,545,000 $272,692 $2,491 6.17%
    47% 10 $2,560,000 $256,000 $2,492 6.20%
    46% 9 $2,015,000 $223,889 $2,452 6.44%
    48% 9 $2,875,000 $319,444 $2,598 5.89%
    44% 8 $2,270,000 $283,750 $2,296 6.32%

    Community Choice Credit Union lent most frequently to those with DTI ratios of 20-30%, with 321 originations. The next most common DTI ratio? 30-36%, with 240 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 871 $151,505,000 $173,944 $2,164 6.44%
    Not provided 123 $21,715,000 $176,545 $1,902 6.71%
    Not applicable 85 $12,195,000 $143,471 $0 6.28%
    Asian 17 $3,835,000 $225,588 $1,987 6.44%
    Black 18 $2,910,000 $161,667 $1,747 6.30%
    American Indian 5 $635,000 $127,000 $2,182 5.75%
    Other Asian 3 $405,000 $135,000 $1,595 6.77%
    Native Hawaiian or Islander 2 $310,000 $155,000 $244 7.38%
    Vietnamese 1 $305,000 $305,000 $3,116 6.63%
    Korean 1 $275,000 $275,000 $2,566 6.75%

    Approval Rates

    Total approvals of all applications
    84.16%

    Community Choice Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.15%

    Community Choice Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,126 $194,090,000 $172,371

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,126 $194,090,000 $172,371

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 242 $22,840,000 $94,380 $912 6.80%
    40-60% 112 $17,750,000 $158,482 $2,012 6.31%
    60-80% 239 $61,685,000 $258,096 $2,514 6.36%
    80-100% 277 $78,815,000 $284,531 $2,514 6.21%
    Over 100% 3 $1,125,000 $375,000 $3,383 5.83%
    Under 20% 253 $11,875,000 $46,937 $285 6.56%