Members1st Community Credit Union Mortgage Rates, Fees & Info

Marshalltown, IA

LEI: 254900KXKBNKNWDAIL39

Tax ID: 42-0894163

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Members1st Community Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Members1st Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Ames, Des Moines, Marshalltown, Cedar Rapids, and Fort Dodge among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Members1st Community Credit Union has an above average approval rate when compared to the average across all lenders. Members1st Community 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
    30 Year Conventional Purchase 5.81% 4/28/24
    30 Year Conventional Refi 6.07% 4/28/24
    30 Year Cash-out Refi 6.37% 4/28/24
    15 Year Conventional Purchase 5.15% 4/28/24
    15 Year Conventional Refi 5.88% 4/28/24
    15 Year Cash-out Refi 5.88% 4/28/24
    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.

    Members1st Community Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Members1st Community 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

    152

    Origination Dollar Volume (All Markets)

    $23,380,000

    Awards

    MEMBERS1st Community Credit Union 30 Year Conventional Loans silver MEMBERS1st Community Credit Union 30 Year Conventional Loans silver
    Show all (2) awards

    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
    AMES, IA (FHA|USDA|VA) 59 $9,005,000 $152,627 $3,158 2.68%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 24 $6,360,000 $265,000 $4,229 2.73%
    Marshalltown, IA (FHA|USDA|VA) 45 $4,725,000 $105,000 $2,563 2.68%
    Outside of Metro Areas 17 $1,895,000 $111,471 $2,987 2.57%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $305,000 $305,000 $3,895 2.13%
    Fort Dodge, IA (FHA|USDA|VA) 1 $275,000 $275,000 $3,711 2.50%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $265,000 $265,000 $4,406 2.75%
    Pella, IA (FHA|USDA|VA) 1 $215,000 $215,000 $4,010 2.63%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $165,000 $165,000 $3,838 2.88%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $115,000 $115,000 $3,276 2.38%
    Mason City, IA (FHA|USDA|VA) 1 $55,000 $55,000 $1,060 2.38%
    Members1st Community Credit Union's top markets include Ames, Des Moines, Marshalltown, Cedar Rapids, and Fort Dodge among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against MEMBERS1st Community Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Bank
    Similarity Rank: 82
    RESIDENTIAL MORTGAGE NETWORK, INC.
    Similarity Rank: 102
    VisionBank of Iowa
    Similarity Rank: 286
    Fidelity Bank
    Similarity Rank: 392
    GREATER IOWA CREDIT UNION
    Similarity Rank: 414
    Home Federal Savings Bank
    Similarity Rank: 480
    Raccoon Valley Bank
    Similarity Rank: 540
    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 570
    Community Choice Credit Union
    Similarity Rank: 816
    Serve Credit Union
    Similarity Rank: 896

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 152 $23,380,000 $153,816 $3,149 2.66%

    For 2021, Members1st Community Credit Union's most frequently originated type of loan was Conventional, with 152 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 75 $12,215,000 $162,867 $3,542 2.63%
    Refi 45 $6,145,000 $136,556 $2,661 2.54%
    Home Purchase 20 $4,110,000 $205,500 $4,083 2.80%
    Home Improvement 6 $500,000 $83,333 $536 3.17%
    Other 6 $410,000 $68,333 $968 3.06%

    For 2021, Members1st Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 75 originations. The 2nd most popular reason was Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 49 $9,745,000 $198,878 $3,927 2.92%
    15 Year 48 $6,600,000 $137,500 $3,103 2.39%
    20 Year 26 $4,970,000 $191,154 $3,795 2.64%
    10 Year 24 $1,730,000 $72,083 $1,333 2.64%
    Other 3 $265,000 $88,333 $1,816 3.42%
    5 Year 2 $70,000 $35,000 $599 2.56%

    For 2021, Members1st Community Credit Union's most frequently cited loan duration was 30 Year, with 49 originations. The 2nd most popular length was 15 Year, with 48 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 89 $11,505,000 $129,270
    $<1k 30 $2,140,000 $71,333
    $2k-3k 23 $5,665,000 $246,304
    $3k-4k 4 $1,290,000 $322,500
    $4k-5k 3 $1,685,000 $561,667
    $5k+ 2 $980,000 $490,000

    Members1st Community Credit Union's average total fees were $3,927, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 89 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 78 $10,650,000 $136,538
    2.5-3% 56 $10,260,000 $183,214
    3-4% 18 $2,470,000 $137,222

    During 2021, Members1st Community Credit Union's average interest rate for loans was 2.92%, while their most frequently originated rate bucket for loans was <2.5%, with 78 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 68 $9,850,000 $144,853 $3,177 2.64%
    $100,000 or less 50 $3,280,000 $65,600 $2,165 2.70%
    $200k-400k 29 $7,575,000 $261,207 $4,136 2.59%
    $400k-600k 4 $2,070,000 $517,500 $6,705 2.94%
    $600k-1MM 1 $605,000 $605,000 $6,703 3.75%

    2021 saw Members1st Community Credit Union place emphasis on $100k-200k loans with 68 originations, totaling $9,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 39 $5,225,000 $133,974 $3,199 2.78%
    $75k-100k 35 $5,175,000 $147,857 $3,136 2.60%
    $100k-150k 31 $5,315,000 $171,452 $2,890 2.62%
    $50k or less 28 $2,280,000 $81,429 $2,697 2.68%
    $150k-250k 16 $4,460,000 $278,750 $3,958 2.57%
    $250k+ 3 $925,000 $308,333 $6,310 2.83%

    Members1st Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 39 originations. The second most popular income band? $75k-100k, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 52 $7,520,000 $144,615 $2,899 2.65%
    <20% 27 $3,125,000 $115,741 $2,232 2.60%
    30-36% 20 $2,900,000 $145,000 $3,351 2.61%
    40% 6 $700,000 $116,667 $3,343 2.75%
    49% 5 $1,245,000 $249,000 $4,135 3.00%
    46% 5 $765,000 $153,000 $3,681 2.83%
    38% 5 $1,355,000 $271,000 $4,840 2.63%
    37% 5 $425,000 $85,000 $2,597 2.80%
    43% 4 $820,000 $205,000 $3,460 2.59%
    50-60% 3 $455,000 $151,667 $3,454 2.50%
    36% 3 $665,000 $221,667 $3,911 2.63%
    41% 3 $555,000 $185,000 $3,927 2.79%
    42% 3 $645,000 $215,000 $4,569 2.67%
    44% 3 $345,000 $115,000 $3,240 2.46%
    47% 3 $435,000 $145,000 $3,533 2.75%
    48% 2 $580,000 $290,000 $4,513 2.88%
    45% 2 $730,000 $365,000 $4,717 3.06%
    39% 1 $115,000 $115,000 $3,276 2.38%

    Members1st Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 52 originations. The next most common DTI ratio? <20%, with 27 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 118 $18,350,000 $155,508 $3,095 2.69%
    Not provided 29 $4,125,000 $142,241 $3,310 2.60%
    Asian 5 $905,000 $181,000 $3,500 2.53%

    Approval Rates

    Total approvals of all applications
    100.00%

    Members1st Community 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 origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 152 $23,380,000 $153,816

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    152 $23,380,000 $153,816

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $740,000 $52,857 $1,407 2.52%
    40-60% 31 $3,955,000 $127,581 $2,859 2.68%
    60-80% 63 $10,785,000 $171,190 $3,475 2.63%
    80-100% 41 $7,755,000 $189,146 $3,659 2.71%
    Under 20% 3 $145,000 $48,333 $587 3.29%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    MEMBERS MORTGAGE COMPANY, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%