Collins Community Credit Union Mortgage Rates, Fees & Info

Cedar Rapids, IA

LEI: 254900NT8VCCMPTPSO02

Tax ID: 42-0190489

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

    Collins Community Credit Union is a smaller credit union specializing in Home Purchase loans. Collins Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Cedar Rapids, Des Moines, Iowa City, Waterloo, and Dubuque among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Collins Community 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. Collins 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
    Home Equity Line of Credit (HELOC) 6.54% 4/5/25
    30 Year Conventional Purchase 6.76% 4/5/25
    30 Year Conventional Refi 6.48% 4/5/25
    30 Year Cash-out Refi 6.87% 4/5/25
    30 Year FHA Purchase 6.72% 4/5/25
    15 Year Conventional Purchase 6.76% 4/5/25
    15 Year Conventional Refi 8.04% 4/5/25
    15 Year Cash-out Refi 8.04% 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.

    Collins 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 Collins 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

    614

    Origination Dollar Volume (All Markets)

    $91,460,000

    Awards

    Collins Community Credit Union 30 Year Conventional Loans gold Collins Community Credit Union 30 Year Conventional Loans gold Collins Community Credit Union 30 Year Conventional Loans bronze
    Show all (3) awards

    Relative Rate

    Collins Community Credit Union's average 30 year fixed mortgage rate was 6.71%.

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

    This yields a difference of 0.16%.

    Relative Fees (Closing Costs)

    Collins Community Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $1,798.

    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
    CEDAR RAPIDS, IA (FHA|USDA|VA) 410 $60,240,000 $146,927 $1,165 7.42%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 66 $9,710,000 $147,121 $1,096 7.77%
    IOWA CITY, IA (FHA|USDA|VA) 41 $6,795,000 $165,732 $1,375 7.48%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 28 $4,190,000 $149,643 $1,580 7.55%
    DUBUQUE, IA (FHA|USDA|VA) 27 $3,575,000 $132,407 $1,264 7.74%
    Outside of Metro Areas 24 $3,450,000 $143,750 $1,260 7.48%
    AMES, IA (FHA|USDA|VA) 3 $975,000 $325,000 $2,103 6.54%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $815,000 $815,000 $0 7.75%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 5 $735,000 $147,000 $1,632 7.20%
    Clinton, IA (FHA|USDA|VA) 3 $685,000 $228,333 $2,112 6.79%
    Muscatine, IA (FHA|USDA|VA) 3 $135,000 $45,000 $148 8.17%
    Pella, IA (FHA|USDA|VA) 2 $90,000 $45,000 $129 8.13%
    Oskaloosa, IA (FHA|USDA|VA) 1 $65,000 $65,000 $245 8.25%
    Collins Community Credit Union's top markets include Cedar Rapids, Des Moines, Iowa City, Waterloo, and Dubuque among others.

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

    • Similar Lenders

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

    Farmers State Bank
    Similarity Rank: 35
    Bank
    Similarity Rank: 42
    GAS AND ELECTRIC CREDIT UNION
    Similarity Rank: 66
    R.I.A. Federal Credit Union
    Similarity Rank: 70
    FINANCIAL PLUS Credit Union
    Similarity Rank: 72
    LINN AREA
    Similarity Rank: 84
    ASCENTRA
    Similarity Rank: 143
    CEDAR FALLS COMMUNITY CREDIT UNION
    Similarity Rank: 171
    Fidelity Bank & Trust
    Similarity Rank: 180
    Hills Bank and Trust Company
    Similarity Rank: 221

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 478 $82,280,000 $172,134 $1,194 7.36%
    HELOC 136 $9,180,000 $67,500 n/a 7.94%

    For 2024, Collins Community Credit Union's most frequently originated type of loan was Conventional, with 478 originations. Their 2nd most popular type was HELOC, with 136 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 261 $60,075,000 $230,172 $1,758 6.84%
    Home Improvement 149 $7,435,000 $49,899 $281 7.92%
    Refi 86 $13,740,000 $159,767 $706 8.03%
    Other 82 $4,220,000 $51,463 $326 8.37%
    Cash Out Refi 36 $5,990,000 $166,389 $1,752 7.01%

    For 2024, Collins Community Credit Union's most frequently cited loan purpose was Home Purchase, with 261 originations. The 2nd most popular reason was Home Improvement, with 149 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 245 $56,455,000 $230,429 $1,798 6.71%
    10 Year 191 $11,845,000 $62,016 $247 7.89%
    5 Year 90 $10,520,000 $116,889 $291 8.23%
    15 Year 49 $7,145,000 $145,816 $502 7.71%
    Other 33 $3,445,000 $104,394 $277 8.40%
    1 Year 6 $2,050,000 $341,667 $0 8.00%

    For 2024, Collins Community Credit Union's most frequently cited loan duration was 30 Year, with 245 originations. The 2nd most popular length was 10 Year, with 191 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 396 $61,600,000 $155,556
    $1k-2k 14 $3,020,000 $215,714
    $4k-5k 3 $1,715,000 $571,667
    $2k-3k 1 $165,000 $165,000
    $3k-4k 1 $285,000 $285,000

    Collins Community Credit Union's average total fees were $1,798, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 396 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 240 $24,890,000 $103,708
    6-7% 174 $40,970,000 $235,460
    Over 8% 143 $9,515,000 $66,538
    5-6% 55 $16,035,000 $291,545
    2.5-3% 2 $50,000 $25,000

    During 2024, Collins Community Credit Union's average interest rate for loans was 6.71%, while their most frequently originated rate bucket for loans was 7-8%, with 240 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 328 $15,120,000 $46,098 $356 8.12%
    $100k-200k 120 $16,990,000 $141,583 $1,764 6.93%
    $200k-400k 118 $32,700,000 $277,119 $2,026 6.60%
    $400k-600k 34 $16,280,000 $478,824 $1,969 6.66%
    $600k-1MM 14 $10,370,000 $740,714 $3,008 6.84%

    2024 saw Collins Community Credit Union place emphasis on $100,000 or less loans with 328 originations, totaling $15,120,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 140 $18,670,000 $133,357 $1,284 7.60%
    $150k-250k 125 $25,185,000 $201,480 $1,210 7.49%
    $50k-75k 98 $9,130,000 $93,163 $1,157 7.39%
    $75k-100k 94 $9,820,000 $104,468 $1,034 7.66%
    $50k or less 52 $3,800,000 $73,077 $1,314 7.35%
    $250k+ 29 $8,735,000 $301,207 $1,385 7.31%

    Collins Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 140 originations. The second most popular income band? $150k-250k, with 125 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 141 $15,615,000 $110,745 $1,182 7.49%
    30-36% 115 $15,875,000 $138,043 $1,122 7.68%
    <20% 45 $5,345,000 $118,778 $1,082 7.43%
    41% 37 $4,865,000 $131,486 $1,006 7.56%
    40% 31 $4,905,000 $158,226 $1,185 7.46%
    42% 27 $4,645,000 $172,037 $1,320 7.57%
    38% 26 $4,090,000 $157,308 $1,282 7.57%
    36% 25 $4,545,000 $181,800 $1,178 7.20%
    43% 24 $4,320,000 $180,000 $1,294 7.56%
    44% 23 $2,995,000 $130,217 $1,133 7.81%
    39% 21 $3,165,000 $150,714 $1,237 7.19%
    37% 9 $1,065,000 $118,333 $1,526 7.61%
    49% 4 $1,250,000 $312,500 $2,498 6.88%
    45% 3 $1,085,000 $361,667 $1,824 6.21%
    48% 3 $415,000 $138,333 $2,272 6.67%
    46% 2 $460,000 $230,000 $1,975 6.13%
    50-60% 1 $575,000 $575,000 $0 7.75%
    47% 1 $125,000 $125,000 $1,998 6.38%

    Collins Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 141 originations. The next most common DTI ratio? 30-36%, with 115 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 512 $67,770,000 $132,363 $1,151 7.55%
    Not applicable 57 $14,115,000 $247,632 $0 7.26%
    Asian 13 $3,265,000 $251,154 $1,660 7.05%
    Not provided 10 $2,330,000 $233,000 $1,907 6.90%
    Black 13 $1,415,000 $108,846 $1,269 7.08%
    Asian Indian 4 $1,180,000 $295,000 $2,024 6.59%
    American Indian 2 $570,000 $285,000 $1,050 7.56%
    Other Asian 2 $560,000 $280,000 $1,244 7.56%
    Chinese 1 $255,000 $255,000 $2,147 6.49%

    Approval Rates

    Total approvals of all applications
    80.39%

    Collins Community Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    70.68%

    Collins Community Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 614 $91,460,000 $148,958

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    614 $91,460,000 $148,958

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 132 $11,200,000 $84,848 $356 8.09%
    40-60% 35 $7,305,000 $208,714 $1,427 7.11%
    60-80% 131 $32,995,000 $251,870 $2,129 6.72%
    80-100% 112 $30,300,000 $270,536 $2,068 6.49%
    Under 20% 204 $9,660,000 $47,353 $229 8.20%