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

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

    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, Waterloo, Iowa City, and Davenport among others. We have data for 33 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.

    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) 6.45% 11/22/24
    30 Year Conventional Purchase 6.46% 11/22/24
    30 Year Conventional Refi 6.23% 11/22/24
    30 Year Cash-out Refi 6.56% 11/22/24
    30 Year FHA Purchase 6.27% 11/22/24
    30 Year VA Purchase 6.27% 11/22/24
    15 Year Conventional Purchase 5.69% 11/22/24
    15 Year Conventional Refi 5.88% 11/22/24
    15 Year Cash-out Refi 5.88% 11/22/24
    15 Year VA Refi 5.68% 11/22/24
    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

    3,130

    Origination Dollar Volume (All Markets)

    $460,670,000
    Show all (12) 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) 1,268 $154,140,000 $121,562 $1,349 4.53%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 897 $151,625,000 $169,036 $1,585 4.76%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 222 $29,460,000 $132,703 $1,578 4.60%
    IOWA CITY, IA (FHA|USDA|VA) 176 $28,370,000 $161,193 $1,564 4.20%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 141 $25,425,000 $180,319 $1,738 4.35%
    DUBUQUE, IA (FHA|USDA|VA) 168 $25,040,000 $149,048 $1,616 4.67%
    Outside of Metro Areas 154 $22,450,000 $145,779 $1,423 4.60%
    AMES, IA (FHA|USDA|VA) 31 $6,945,000 $224,032 $1,738 4.36%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $2,945,000 $981,667 $5,969 4.75%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 6 $2,630,000 $438,333 $0 3.92%
    Clinton, IA (FHA|USDA|VA) 12 $2,460,000 $205,000 $2,175 4.61%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $1,035,000 $345,000 $3,451 4.67%
    Spirit Lake, IA (FHA|USDA|VA) 2 $980,000 $490,000 $1,940 5.44%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $820,000 $410,000 $2,373 4.88%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 4 $810,000 $202,500 $2,769 4.19%
    Ottumwa, IA (FHA|USDA|VA) 8 $620,000 $77,500 $1,907 5.39%
    Quincy, IL-MO (FHA|USDA|VA) 4 $600,000 $150,000 $0 5.06%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $505,000 $505,000 $6,668 5.50%
    Platteville, WI (FHA|USDA|VA) 3 $445,000 $148,333 $1,692 4.91%
    Mason City, IA (FHA|USDA|VA) 4 $420,000 $105,000 $1,737 4.49%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $420,000 $210,000 $2,015 5.81%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $405,000 $405,000 $2,981 4.63%
    ROCHESTER, MN (FHA|USDA|VA) 1 $345,000 $345,000 $2,904 3.99%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $330,000 $165,000 $2,500 5.63%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $305,000 $305,000 $0 3.50%
    Pella, IA (FHA|USDA|VA) 3 $285,000 $95,000 $571 6.74%
    Burlington, IA-IL (FHA|USDA|VA) 2 $280,000 $140,000 $1,573 4.25%
    Galesburg, IL (FHA|USDA|VA) 1 $205,000 $205,000 $1,434 3.75%
    Carroll, IA (FHA|USDA|VA) 2 $140,000 $70,000 $1,623 3.63%
    Oskaloosa, IA (FHA|USDA|VA) 2 $80,000 $40,000 $0 5.50%
    Marshalltown, IA (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.00%
    Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 2 $60,000 $30,000 $1,787 5.50%
    Muscatine, IA (FHA|USDA|VA) 1 $25,000 $25,000 $495 5.60%
    Collins Community Credit Union's top markets include Cedar Rapids, Des Moines, Waterloo, Iowa City, and Davenport among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Tennessee (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.

    THE FAMILY CREDIT UNION
    Similarity Rank: 84
    ASCENTRA
    Similarity Rank: 135
    FIRST
    Similarity Rank: 144
    R.I.A. Federal Credit Union
    Similarity Rank: 154
    MEMBERS1st Community Credit Union
    Similarity Rank: 161
    Community Savings Bank
    Similarity Rank: 200
    FINANCIAL PLUS Credit Union
    Similarity Rank: 236
    Farmers & Merchants Savings Bank
    Similarity Rank: 240
    Hills Bank and Trust Company
    Similarity Rank: 247
    LINN AREA
    Similarity Rank: 256

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,700 $428,570,000 $158,730 $1,506 4.64%
    HELOC 430 $32,100,000 $74,651 n/a 4.29%

    For 2022, Collins Community Credit Union's most frequently originated type of loan was Conventional, with 2,700 originations. Their 2nd most popular type was HELOC, with 430 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,824 $298,080,000 $163,421 $1,736 4.67%
    Refi 444 $80,550,000 $181,419 $1,517 4.26%
    Home Improvement 406 $27,440,000 $67,586 $471 4.55%
    Other 271 $20,925,000 $77,214 $182 5.02%
    Cash Out Refi 185 $33,675,000 $182,027 $1,678 4.06%

    For 2022, Collins Community Credit Union's most frequently cited loan purpose was Home Purchase, with 1,824 originations. The 2nd most popular reason was Refi, with 444 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,507 $327,145,000 $217,084 $1,733 4.48%
    10 Year 1,159 $69,825,000 $60,246 $259 4.68%
    5 Year 205 $25,525,000 $124,512 $169 5.69%
    15 Year 188 $28,530,000 $151,755 $1,417 3.97%
    Other 35 $3,725,000 $106,429 $0 3.77%
    20 Year 30 $5,200,000 $173,333 $1,806 3.97%
    1 Year 6 $720,000 $120,000 $0 5.42%

    For 2022, Collins Community Credit Union's most frequently cited loan duration was 30 Year, with 1,507 originations. The 2nd most popular length was 10 Year, with 1,159 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,435 $372,395,000 $152,934
    $1k-2k 59 $15,335,000 $259,915
    $2k-3k 12 $3,420,000 $285,000
    $3k-4k 10 $3,030,000 $303,000
    $5k+ 6 $2,450,000 $408,333
    $4k-5k 3 $1,255,000 $418,333

    Collins Community Credit Union's average total fees were $1,733, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,435 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,256 $200,190,000 $159,387
    4-5% 803 $109,535,000 $136,407
    5-6% 490 $64,840,000 $132,327
    6-7% 240 $34,540,000 $143,917
    2.5-3% 140 $32,300,000 $230,714
    7-8% 127 $11,615,000 $91,457
    Over 8% 42 $1,660,000 $39,524
    <2.5% 32 $5,990,000 $187,188

    During 2022, Collins Community Credit Union's average interest rate for loans was 4.48%, while their most frequently originated rate bucket for loans was 3-4%, with 1,256 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,404 $68,210,000 $48,583 $853 4.83%
    $100k-200k 974 $140,580,000 $144,333 $1,589 4.50%
    $200k-400k 590 $161,760,000 $274,169 $1,803 4.29%
    $400k-600k 118 $55,850,000 $473,305 $1,993 4.05%
    $600k-1MM 38 $26,320,000 $692,632 $2,202 4.39%
    $1MM+ 6 $7,950,000 $1,325,000 $4,418 3.90%

    2022 saw Collins Community Credit Union place emphasis on $100,000 or less loans with 1,404 originations, totaling $68,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 764 $82,400,000 $107,853 $1,492 4.74%
    $100k-150k 620 $107,030,000 $172,629 $1,539 4.38%
    $75k-100k 560 $76,240,000 $136,143 $1,448 4.53%
    $50k or less 519 $44,305,000 $85,366 $1,473 4.74%
    $150k-250k 352 $77,480,000 $220,114 $1,539 4.45%
    $250k+ 106 $38,070,000 $359,151 $1,848 4.26%

    Collins Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 764 originations. The second most popular income band? $100k-150k, with 620 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 770 $105,530,000 $137,052 $1,448 4.44%
    30-36% 641 $92,655,000 $144,548 $1,536 4.58%
    <20% 240 $34,270,000 $142,792 $1,373 4.11%
    41% 162 $23,630,000 $145,864 $1,477 4.95%
    37% 152 $19,700,000 $129,605 $1,682 4.52%
    40% 149 $21,055,000 $141,309 $1,545 4.66%
    39% 127 $17,205,000 $135,472 $1,467 4.74%
    38% 126 $17,600,000 $139,683 $1,545 4.87%
    36% 119 $16,435,000 $138,109 $1,495 4.76%
    44% 113 $22,775,000 $201,549 $1,588 4.56%
    42% 98 $16,470,000 $168,061 $1,447 4.67%
    43% 95 $13,755,000 $144,789 $1,451 4.82%
    45% 27 $4,905,000 $181,667 $1,942 4.74%
    47% 25 $5,425,000 $217,000 $1,769 4.75%
    48% 20 $4,640,000 $232,000 $1,818 4.46%
    46% 18 $3,420,000 $190,000 $1,580 4.28%
    49% 17 $3,505,000 $206,176 $1,785 5.14%
    >60% 16 $1,100,000 $68,750 $115 5.01%
    50-60% 5 $435,000 $87,000 $86 4.90%

    Collins Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 770 originations. The next most common DTI ratio? 30-36%, with 641 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,642 $375,920,000 $142,286 $1,468 4.58%
    Not applicable 146 $26,490,000 $181,438 $0 4.99%
    Not provided 107 $20,185,000 $188,645 $1,848 4.77%
    Asian 104 $19,050,000 $183,173 $1,772 4.10%
    Black 92 $11,930,000 $129,674 $1,615 4.72%
    Asian Indian 15 $3,895,000 $259,667 $1,999 3.96%
    American Indian 10 $1,240,000 $124,000 $2,319 4.44%
    Other Asian 6 $980,000 $163,333 $2,246 4.70%
    Vietnamese 2 $360,000 $180,000 $1,482 3.00%
    Other Pacific Islander 3 $295,000 $98,333 $1,608 6.71%
    Native Hawaiian or Islander 1 $165,000 $165,000 $1,623 5.13%
    Chinese 2 $160,000 $80,000 $1,483 3.88%

    Approval Rates

    Total approvals of all applications
    91.52%

    Collins Community Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.81%

    Collins Community Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,130 $460,670,000 $147,179

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,130 $460,670,000 $147,179

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 549 $37,205,000 $67,769 $689 4.79%
    40-60% 197 $30,575,000 $155,203 $1,512 4.21%
    60-80% 852 $177,480,000 $208,310 $1,675 4.36%
    80-100% 847 $182,625,000 $215,614 $1,755 4.54%
    Over 100% 11 $6,415,000 $583,182 $0 4.95%
    Under 20% 674 $26,370,000 $39,125 $184 4.90%