Community Choice Credit Union Mortgage Rates, Fees & Info
Johnston, IALEI: 254900CQVBYQI6BDWS96
Tax ID: 42-0778245
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Mortgage Data
Review & Overview
Community Choice Credit Union is a smaller credit union specializing in Refi, Cash Out 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, Marshalltown, and Storm Lake among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Community Choice Credit Union has an above average approval rate when compared to the average across all lenders. They have an above 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
Home Equity Line of Credit (HELOC) | 1.62% | 12/5/24 |
30 Year Conventional Purchase | 6.04% | 12/5/24 |
30 Year Conventional Refi | 5.67% | 12/5/24 |
30 Year Cash-out Refi | 6.16% | 12/5/24 |
15 Year Conventional Purchase | 5.68% | 12/5/24 |
15 Year Conventional Refi | 6.58% | 12/5/24 |
15 Year Cash-out Refi | 6.58% | 12/5/24 |
15 Year VA Refi | 5.68% | 12/5/24 |
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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
886Origination Dollar Volume (All Markets)
$153,740,000Community Choice Credit Union - 2020
Community Choice Credit Union is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 763 | $136,975,000 | $179,522 | $1,419 | 3.51% |
AMES, IA (FHA|USDA|VA) | 59 | $6,725,000 | $113,983 | $933 | 3.70% |
Outside of Metro Areas | 24 | $4,140,000 | $172,500 | $1,531 | 3.39% |
Pella, IA (FHA|USDA|VA) | 12 | $1,900,000 | $158,333 | $1,009 | 3.38% |
Marshalltown, IA (FHA|USDA|VA) | 6 | $1,270,000 | $211,667 | $2,004 | 3.06% |
Storm Lake, IA (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $2,219 | 3.75% |
Burlington, IA-IL (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $1,370 | 3.31% |
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $701 | 4.56% |
IOWA CITY, IA (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,079 | 3.31% |
Ottumwa, IA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 3.35% |
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $87 | 4.22% |
CEDAR RAPIDS, IA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,224 | 2.75% |
Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $87 | 3.64% |
Oskaloosa, IA (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $87 | 4.92% |
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 4.28% |
Clinton, IA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,035 | 2.75% |
Spirit Lake, IA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,950 | 3.00% |
Fort Dodge, IA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $173 | 4.55% |
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.
Similarity Rank: 172
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Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 886 | $153,740,000 | $173,521 | $1,371 | 3.52% |
For 2020, Community Choice Credit Union's most frequently originated type of loan was Conventional, with 886 originations.
Loan Reason
For 2020, Community Choice Credit Union's most frequently cited loan purpose was Refi, with 330 originations. The 2nd most popular reason was Cash Out Refi, with 217 originations.
Loan Duration/Length
For 2020, Community Choice Credit Union's most frequently cited loan duration was 30 Year, with 352 originations. The 2nd most popular length was 15 Year, with 201 originations.
Origination Fees/Closing Costs
Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
---|---|---|---|
$1k-2k | 395 | $79,755,000 | $201,911 |
$<1k | 381 | $50,115,000 | $131,535 |
$2k-3k | 7 | $1,585,000 | $226,429 |
$3k-4k | 3 | $685,000 | $228,333 |
Community Choice Credit Union's average total fees were $1,917, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 395 originations.
Interest Rates
During 2020, Community Choice Credit Union's average interest rate for loans was 3.19%, while their most frequently originated rate bucket for loans was 3-4%, with 440 originations.
Loan Sizing
2020 saw Community Choice Credit Union place emphasis on $100k-200k loans with 334 originations, totaling $50,840,000 in origination value.
Applicant Income
Community Choice Credit Union lent most frequently to those with incomes in the $100k-150k range, with 222 originations. The second most popular income band? $50k-75k, with 164 originations.
Applicant Debt to Income Ratio
Community Choice Credit Union lent most frequently to those with DTI ratios of 20-30%, with 289 originations. The next most common DTI ratio? 30-36%, with 156 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.54%
Community Choice Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination93.57%
Community Choice Credit Union has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 886 | $153,740,000 | $173,521 |
Occupancy Type Mix
LTV Distribution
Complaints
Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
COMMUNITY BANK SYSTEM, INC. | Conventional home mortgage | Struggling to pay mortgage | 1 | 33.3% |
COMMUNITY BANK SYSTEM, INC. | Conventional home mortgage | Trouble during payment process | 1 | 33.3% |
COMMUNITY BANK SYSTEM, INC. | Other type of mortgage | Closing on a mortgage | 1 | 33.3% |