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
  • 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 Home Purchase loans. Members1st Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Ames, Marshalltown, Des Moines, Waterloo, and Cedar Rapids among others. We have data for 7 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. They have an above average pick rate when compared to similar 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% 12/16/24
    30 Year Conventional Refi 6.07% 12/16/24
    30 Year Cash-out Refi 6.37% 12/16/24
    15 Year Conventional Purchase 5.15% 12/16/24
    15 Year Conventional Refi 5.88% 12/16/24
    15 Year Cash-out Refi 5.88% 12/16/24
    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

    96

    Origination Dollar Volume (All Markets)

    $12,670,000

    Awards

    MEMBERS1st Community Credit Union 30 Year Conventional Loans bronze MEMBERS1st Community Credit Union 30 Year Conventional Loans gold MEMBERS1st Community Credit Union 30 Year Conventional Loans bronze
    Show all (3) 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) 28 $4,210,000 $150,357 $3,419 3.70%
    Marshalltown, IA (FHA|USDA|VA) 39 $3,735,000 $95,769 $3,231 4.03%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 13 $2,535,000 $195,000 $3,820 3.67%
    Outside of Metro Areas 11 $1,785,000 $162,273 $3,611 3.50%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 2 $240,000 $120,000 $3,504 4.06%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 2 $130,000 $65,000 $3,198 3.88%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $35,000 $35,000 $590 4.50%
    Members1st Community Credit Union's top markets include Ames, Marshalltown, Des Moines, Waterloo, and Cedar Rapids 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.

    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 150
    MEMBERS1st Community Credit Union
    Similarity Rank: 196
    FINANCIAL PLUS Credit Union
    Similarity Rank: 236
    Farmers State Bank
    Similarity Rank: 399
    Serve Credit Union
    Similarity Rank: 420
    COMMUNITY 1ST CREDIT UNION
    Similarity Rank: 464
    Premier Credit Union
    Similarity Rank: 504
    GREATER IOWA CREDIT UNION
    Similarity Rank: 675
    Peoples Bank
    Similarity Rank: 712
    Luana Savings Bank
    Similarity Rank: 968

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 96 $12,670,000 $131,979 $3,402 3.83%

    For 2022, Members1st Community Credit Union's most frequently originated type of loan was Conventional, with 96 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 34 $5,190,000 $152,647 $3,760 3.51%
    Home Purchase 33 $5,235,000 $158,636 $3,758 4.03%
    Refi 13 $1,455,000 $111,923 $2,921 3.57%
    Other 10 $470,000 $47,000 $767 4.43%
    Home Improvement 6 $320,000 $53,333 $815 4.05%

    For 2022, Members1st Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 34 originations. The 2nd most popular reason was Home Purchase, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 28 $4,270,000 $152,500 $3,936 4.33%
    15 Year 25 $3,095,000 $123,800 $3,367 3.69%
    20 Year 22 $3,870,000 $175,909 $3,832 3.41%
    10 Year 16 $1,290,000 $80,625 $1,904 3.80%
    5 Year 3 $65,000 $21,667 $555 3.43%
    Other 2 $80,000 $40,000 $0 3.88%

    For 2022, Members1st Community Credit Union's most frequently cited loan duration was 30 Year, with 28 originations. The 2nd most popular length was 15 Year, with 25 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 51 $6,245,000 $122,451
    $<1k 23 $1,415,000 $61,522
    $2k-3k 20 $4,180,000 $209,000
    $3k-4k 2 $830,000 $415,000

    Members1st Community Credit Union's average total fees were $3,936, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 51 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 38 $4,510,000 $118,684
    4-5% 25 $3,425,000 $137,000
    2.5-3% 17 $2,975,000 $175,000
    5-6% 9 $1,205,000 $133,889
    <2.5% 5 $445,000 $89,000
    6-7% 2 $110,000 $55,000

    During 2022, Members1st Community Credit Union's average interest rate for loans was 4.33%, while their most frequently originated rate bucket for loans was 3-4%, with 38 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 40 $2,560,000 $64,000 $2,414 3.99%
    $100k-200k 40 $5,700,000 $142,500 $3,714 3.69%
    $200k-400k 15 $3,945,000 $263,000 $4,250 3.78%
    $400k-600k 1 $465,000 $465,000 $5,888 3.00%

    2022 saw Members1st Community Credit Union place emphasis on $100,000 or less loans with 40 originations, totaling $2,560,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 27 $2,765,000 $102,407 $3,579 4.15%
    $50k-75k 22 $1,820,000 $82,727 $2,913 3.69%
    $75k-100k 20 $3,100,000 $155,000 $3,577 3.70%
    $100k-150k 18 $3,130,000 $173,889 $3,684 3.85%
    $150k-250k 9 $1,855,000 $206,111 $3,170 3.40%

    Members1st Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 27 originations. The second most popular income band? $50k-75k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 32 $3,970,000 $124,063 $3,412 3.72%
    30-36% 15 $2,535,000 $169,000 $3,389 3.81%
    <20% 13 $1,245,000 $95,769 $3,311 3.74%
    38% 6 $820,000 $136,667 $3,346 4.25%
    39% 5 $565,000 $113,000 $2,624 3.98%
    49% 4 $420,000 $105,000 $3,403 4.41%
    37% 3 $195,000 $65,000 $3,141 3.56%
    36% 3 $705,000 $235,000 $4,230 3.63%
    41% 2 $150,000 $75,000 $3,291 4.13%
    42% 2 $210,000 $105,000 $3,173 3.19%
    43% 2 $260,000 $130,000 $4,041 4.38%
    44% 2 $290,000 $145,000 $3,522 3.38%
    46% 2 $320,000 $160,000 $3,647 4.00%
    48% 2 $420,000 $210,000 $4,551 3.75%
    50-60% 1 $365,000 $365,000 $5,124 4.50%
    45% 1 $165,000 $165,000 $3,778 3.38%
    40% 1 $35,000 $35,000 $590 4.50%

    Members1st Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? 30-36%, with 15 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 69 $7,825,000 $113,406 $3,138 3.81%
    Not provided 22 $4,110,000 $186,818 $4,072 3.94%
    Asian 4 $630,000 $157,500 $3,583 3.69%
    Black 1 $105,000 $105,000 $3,008 2.75%

    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
    97.92%

    Members1st Community Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 96 $12,670,000 $131,979

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    96 $12,670,000 $131,979

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $595,000 $54,091 $2,097 4.23%
    40-60% 11 $1,015,000 $92,273 $2,686 3.40%
    60-80% 42 $5,610,000 $133,571 $3,446 3.69%
    80-100% 28 $5,350,000 $191,071 $4,061 4.05%
    Under 20% 4 $100,000 $25,000 $567 3.70%