Community Choice Credit Union Mortgage Rates, Fees & InfoJohnston, IA
Tax ID: 42-0778245
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewCommunity Choice Credit Union is a smaller credit union specializing in Other, Refi, and Home Purchase loans. Community Choice Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ames, Pella, Iowa City, and Spirit Lake among others. We have data for 20 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.
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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||1.62%||3/27/23|
|30 Year Conventional Purchase||6.04%||3/27/23|
|30 Year Conventional Refi||5.67%||3/27/23|
|30 Year Cash-out Refi||6.16%||3/27/23|
|15 Year Conventional Purchase||5.68%||3/27/23|
|15 Year Conventional Refi||6.58%||3/27/23|
|15 Year Cash-out Refi||6.58%||3/27/23|
|15 Year VA Refi||5.68%||3/27/23|
|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.|
Origination Dollar Volume (All Markets)$136,095,000
Community Choice Credit Union's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -2.33%.
Relative Fees (Closing Costs)
Community Choice Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,307.
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 $4,750.
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)||1,001||$119,225,000||$119,106||$748||3.55%|
|AMES, IA (FHA|USDA|VA)||73||$6,665,000||$91,301||$368||3.00%|
|Outside of Metro Areas||36||$3,950,000||$109,722||$525||3.22%|
|Pella, IA (FHA|USDA|VA)||17||$1,935,000||$113,824||$707||4.41%|
|IOWA CITY, IA (FHA|USDA|VA)||5||$1,055,000||$211,000||$2,071||3.50%|
|Spirit Lake, IA (FHA|USDA|VA)||2||$580,000||$290,000||$1,069||4.73%|
|Marshalltown, IA (FHA|USDA|VA)||6||$380,000||$63,333||$0||3.08%|
|CEDAR RAPIDS, IA (FHA|USDA|VA)||5||$375,000||$75,000||$1,532||3.19%|
|Oskaloosa, IA (FHA|USDA|VA)||5||$345,000||$69,000||$679||3.39%|
|Ottumwa, IA (FHA|USDA|VA)||1||$295,000||$295,000||$2,086||4.38%|
|DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA)||1||$265,000||$265,000||$2,116||4.00%|
|WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA)||3||$205,000||$68,333||$0||0.99%|
|Fort Dodge, IA (FHA|USDA|VA)||2||$170,000||$85,000||$0||4.96%|
|SIOUX CITY, IA-NE-SD (FHA|USDA|VA)||3||$165,000||$55,000||$2,678||2.66%|
|OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA)||4||$140,000||$35,000||$0||4.18%|
|Carroll, IA (FHA|USDA|VA)||2||$120,000||$60,000||$0||2.33%|
|Muscatine, IA (FHA|USDA|VA)||2||$100,000||$50,000||$0||3.68%|
|Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA)||1||$55,000||$55,000||$0||0.99%|
|Mason City, IA (FHA|USDA|VA)||1||$35,000||$35,000||$0||0.99%|
|Burlington, IA-IL (FHA|USDA|VA)||1||$35,000||$35,000||$0||6.61%|
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.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Community Choice Credit Union's most frequently originated type of loan was HELOC, with 592 originations. Their 2nd most popular type was Conventional, with 579 originations.
For 2022, Community Choice Credit Union's most frequently cited loan purpose was Other, with 413 originations. The 2nd most popular reason was Home Improvement, with 342 originations.
For 2022, Community Choice Credit Union's most frequently cited loan duration was 30 Year, with 642 originations. The 2nd most popular length was 10 Year, with 227 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Community Choice Credit Union's average total fees were $2,307, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 294 originations.
During 2022, Community Choice Credit Union's average interest rate for loans was 2.43%, while their most frequently originated rate bucket for loans was <2.5%, with 408 originations.
2022 saw Community Choice Credit Union place emphasis on $100,000 or less loans with 785 originations, totaling $40,035,000 in origination value.
Community Choice Credit Union lent most frequently to those with incomes in the $100k-150k range, with 304 originations. The second most popular income band? $50k-75k, with 200 originations.
Applicant Debt to Income Ratio
Community Choice Credit Union lent most frequently to those with DTI ratios of 20-30%, with 294 originations. The next most common DTI ratio? 30-36%, with 217 originations.
Approval RatesTotal approvals of all applications
Community Choice Credit Union has an average approval rate.
Pick RateApprovals leading to origination
Community Choice Credit Union has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2022 CPFB Complaints||% of Total Issues|
|Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC)||FHA mortgage||Struggling to pay mortgage||2||66.7%|
|Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC)||Other type of mortgage||Trouble during payment process||1||33.3%|