Collins Community Credit Union Mortgage Rates, Fees & Info

Cedar Rapids, IA

LEI: 254900NT8VCCMPTPSO02

Tax ID: 42-0190489

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

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  • 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

    Collins Community Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Collins Community Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Cedar Rapids, Des Moines, Iowa City, Waterloo, and Dubuque among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Collins Community Credit Union has an above 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.45% 4/21/24
    30 Year Conventional Purchase 6.46% 4/21/24
    30 Year Conventional Refi 6.23% 4/21/24
    30 Year Cash-out Refi 6.56% 4/21/24
    30 Year FHA Purchase 6.27% 4/21/24
    30 Year VA Purchase 6.27% 4/21/24
    15 Year Conventional Purchase 5.69% 4/21/24
    15 Year Conventional Refi 5.88% 4/21/24
    15 Year Cash-out Refi 5.88% 4/21/24
    15 Year VA Refi 5.68% 4/21/24
    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.

    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

    4,579

    Origination Dollar Volume (All Markets)

    $751,855,000
    Show all (11) 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
    CEDAR RAPIDS, IA (FHA|USDA|VA) 2,258 $342,100,000 $151,506 $1,337 3.24%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1,319 $247,295,000 $187,487 $1,397 3.57%
    IOWA CITY, IA (FHA|USDA|VA) 266 $52,990,000 $199,211 $1,549 3.11%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 306 $45,310,000 $148,072 $1,354 3.21%
    Outside of Metro Areas 162 $24,080,000 $148,642 $1,376 3.37%
    DUBUQUE, IA (FHA|USDA|VA) 159 $22,735,000 $142,987 $1,340 3.35%
    AMES, IA (FHA|USDA|VA) 33 $4,965,000 $150,455 $1,596 3.62%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 25 $3,825,000 $153,000 $1,299 2.72%
    Pella, IA (FHA|USDA|VA) 13 $2,285,000 $175,769 $1,456 3.70%
    Marshalltown, IA (FHA|USDA|VA) 10 $1,250,000 $125,000 $1,419 3.82%
    Spirit Lake, IA (FHA|USDA|VA) 2 $760,000 $380,000 $1,746 2.31%
    Muscatine, IA (FHA|USDA|VA) 4 $730,000 $182,500 $1,277 2.09%
    Clinton, IA (FHA|USDA|VA) 4 $620,000 $155,000 $1,530 2.78%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $560,000 $280,000 $3,300 3.56%
    Burlington, IA-IL (FHA|USDA|VA) 3 $555,000 $185,000 $1,160 2.96%
    Mason City, IA (FHA|USDA|VA) 3 $525,000 $175,000 $1,626 2.75%
    Fairfield, IA (FHA|USDA|VA) 3 $335,000 $111,667 $1,523 4.37%
    Carroll, IA (FHA|USDA|VA) 2 $310,000 $155,000 $1,338 2.25%
    Ottumwa, IA (FHA|USDA|VA) 3 $255,000 $85,000 $1,822 4.13%
    Oskaloosa, IA (FHA|USDA|VA) 1 $245,000 $245,000 $1,474 2.63%
    Fort Dodge, IA (FHA|USDA|VA) 1 $125,000 $125,000 $1,431 2.25%
    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)
  • Minnesota (FHA|USDA|VA)
  • Illinois (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.

    R.I.A. Federal Credit Union
    Similarity Rank: 126
    FINANCIAL PLUS Credit Union
    Similarity Rank: 172
    GREATER IOWA CREDIT UNION
    Similarity Rank: 276
    THE FAMILY CREDIT UNION
    Similarity Rank: 350
    ASCENTRA
    Similarity Rank: 374
    Fidelity Bank
    Similarity Rank: 387
    Hills Bank and Trust Company
    Similarity Rank: 390
    GAS AND ELECTRIC CREDIT UNION
    Similarity Rank: 414
    FIRST
    Similarity Rank: 451
    LINN AREA
    Similarity Rank: 462

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,117 $715,275,000 $173,737 $1,354 3.31%
    HELOC 424 $27,180,000 $64,104 n/a 3.70%
    VA 33 $8,515,000 $258,030 $3,162 2.79%
    USDA 5 $885,000 $177,000 $3,238 3.00%

    For 2020, Collins Community Credit Union's most frequently originated type of loan was Conventional, with 4,117 originations. Their 2nd most popular type was HELOC, with 424 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,935 $380,025,000 $196,395 $1,273 2.88%
    Home Purchase 1,659 $243,675,000 $146,881 $1,578 3.77%
    Cash Out Refi 534 $101,750,000 $190,543 $1,429 3.13%
    Other 237 $16,215,000 $68,418 $17 3.94%
    Home Improvement 214 $10,190,000 $47,617 $241 4.01%

    For 2020, Collins Community Credit Union's most frequently cited loan purpose was Refi, with 1,935 originations. The 2nd most popular reason was Home Purchase, with 1,659 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,497 $494,895,000 $198,196 $1,462 3.18%
    10 Year 979 $55,315,000 $56,502 $480 4.46%
    15 Year 873 $160,655,000 $184,026 $1,290 2.50%
    20 Year 129 $28,125,000 $218,023 $1,323 2.85%
    5 Year 68 $6,420,000 $94,412 $68 4.83%
    Other 33 $6,445,000 $195,303 $1,252 3.03%

    For 2020, Collins Community Credit Union's most frequently cited loan duration was 30 Year, with 2,497 originations. The 2nd most popular length was 10 Year, with 979 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 4,049 $705,895,000 $174,338
    $1k-2k 53 $10,515,000 $198,396
    $2k-3k 4 $920,000 $230,000
    $3k-4k 1 $325,000 $325,000
    $4k-5k 1 $345,000 $345,000

    Collins Community Credit Union's average total fees were $1,462, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 4,049 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,368 $283,780,000 $207,442
    3-4% 1,314 $192,050,000 $146,157
    <2.5% 1,016 $211,760,000 $208,425
    4-5% 536 $44,600,000 $83,209
    5-6% 274 $16,180,000 $59,051
    6-7% 60 $3,260,000 $54,333
    7-8% 7 $145,000 $20,714
    Over 8% 4 $80,000 $20,000

    During 2020, Collins Community Credit Union's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,368 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,853 $272,355,000 $146,981 $1,375 3.08%
    $200k-400k 1,298 $345,660,000 $266,302 $1,452 2.84%
    $100,000 or less 1,285 $64,815,000 $50,440 $1,122 4.28%
    $400k-600k 140 $64,540,000 $461,000 $1,503 2.74%
    $1MM+ 2 $3,810,000 $1,905,000 $3,069 3.15%
    $600k-1MM 1 $675,000 $675,000 $2,267 3.50%

    2020 saw Collins Community Credit Union place emphasis on $100k-200k loans with 1,853 originations, totaling $272,355,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,061 $206,015,000 $194,171 $1,392 3.07%
    $50k-75k 1,003 $131,305,000 $130,912 $1,380 3.44%
    $75k-100k 829 $134,575,000 $162,334 $1,344 3.27%
    $50k or less 815 $77,335,000 $94,890 $1,405 3.88%
    $150k-250k 600 $141,990,000 $236,650 $1,322 3.05%
    $250k+ 121 $36,625,000 $302,686 $1,283 3.03%

    Collins Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,061 originations. The second most popular income band? $50k-75k, with 1,003 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,369 $233,755,000 $170,749 $1,314 3.17%
    30-36% 887 $146,655,000 $165,338 $1,379 3.35%
    <20% 672 $107,000,000 $159,226 $1,288 3.04%
    38% 169 $24,885,000 $147,249 $1,426 3.75%
    40% 166 $24,180,000 $145,663 $1,387 3.81%
    36% 164 $24,900,000 $151,829 $1,512 3.73%
    41% 146 $20,030,000 $137,192 $1,555 4.02%
    37% 144 $19,860,000 $137,917 $1,501 3.92%
    39% 134 $21,270,000 $158,731 $1,418 3.74%
    42% 132 $22,770,000 $172,500 $1,382 3.49%
    44% 131 $21,725,000 $165,840 $1,430 3.54%
    43% 108 $17,580,000 $162,778 $1,401 3.49%
    45% 53 $10,315,000 $194,623 $1,537 2.78%
    48% 42 $8,250,000 $196,429 $1,331 2.95%
    49% 37 $8,575,000 $231,757 $1,594 2.75%
    46% 36 $7,680,000 $213,333 $1,378 2.97%
    47% 33 $7,305,000 $221,364 $1,409 2.92%
    50-60% 3 $295,000 $98,333 $3,066 3.54%
    >60% 2 $270,000 $135,000 $10,045 3.38%

    Collins Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,369 originations. The next most common DTI ratio? 30-36%, with 887 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,123 $673,615,000 $163,380 $1,375 3.36%
    Asian 156 $29,220,000 $187,308 $1,285 3.02%
    Not provided 140 $25,050,000 $178,929 $1,361 3.03%
    Black 67 $8,465,000 $126,343 $1,534 3.42%
    Not applicable 44 $6,380,000 $145,000 $0 3.92%
    Asian Indian 17 $3,605,000 $212,059 $1,310 2.60%
    American Indian 17 $2,915,000 $171,471 $1,375 3.46%
    Other Asian 9 $1,695,000 $188,333 $1,392 3.22%
    Vietnamese 2 $400,000 $200,000 $1,481 2.69%
    Filipino 1 $185,000 $185,000 $1,220 2.38%
    Korean 1 $125,000 $125,000 $1,524 2.55%
    Chinese 1 $125,000 $125,000 $1,232 1.88%
    Native Hawaiian or Islander 1 $75,000 $75,000 $0 3.50%

    Approval Rates

    Total approvals of all applications
    92.39%

    Collins Community Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.86%

    Collins Community Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,579 $751,855,000 $164,196

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $265,000 $265,000
    Single Family (1-4 Units):Manufactured 5 $175,000 $35,000
    Single Family (1-4 Units):Site-Built 4,573 $751,415,000 $164,316

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 444 $34,010,000 $76,599 $999 4.15%
    40-60% 489 $81,145,000 $165,941 $1,296 2.80%
    60-80% 1,770 $350,600,000 $198,079 $1,322 3.04%
    80-100% 1,332 $264,870,000 $198,851 $1,536 3.11%
    Over 100% 8 $4,040,000 $505,000 $8,928 3.03%
    Under 20% 536 $17,190,000 $32,071 $105 4.70%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CU Alliance, LLC Conventional home mortgage Trouble during payment process 1 100.0%