Columbus Metro Federal Credit Union Mortgage Rates, Fees & Info
Columbus, OHLEI: 254900R8RQ7UOD00O702
Tax ID: 31-4388311
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Mortgage Data
Review & Overview
Columbus Metro Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Columbus Metro Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Marion, Mount Vernon, Dayton, and Athens among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Columbus Metro Federal 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. Columbus Metro Federal 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.
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Originations
78Origination Dollar Volume (All Markets)
$13,380,000Awards
Columbus Metro Federal Credit Union - 2019
Columbus Metro Federal Credit Union is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| COLUMBUS, OH (FHA|USDA|VA) | 71 | $12,215,000 | $172,042 | $2,707 | 3.84% |
| Marion, OH (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,815 | 5.46% |
| Mount Vernon, OH (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,549 | 3.38% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,441 | 4.13% |
| Athens, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,180 | 4.63% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,963 | 4.17% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,208 | 3.00% |
| Bucyrus-Galion, OH (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,314 | 3.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against Columbus Metro Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 392
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Similarity Rank: 715
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Similarity Rank: 1155
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 78 | $13,380,000 | $171,538 | $2,728 | 3.87% |
For 2019, Columbus Metro Federal Credit Union's most frequently originated type of loan was Conventional, with 78 originations.
Loan Reason
For 2019, Columbus Metro Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 35 originations. The 2nd most popular reason was Home Purchase, with 32 originations.
Loan Duration/Length
For 2019, Columbus Metro Federal Credit Union's most frequently cited loan duration was 30 Year, with 59 originations. The 2nd most popular length was 15 Year, with 14 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 72 | $12,690,000 | $176,250 |
| $1k-2k | 4 | $420,000 | $105,000 |
| $2k-3k | 1 | $135,000 | $135,000 |
| $3k-4k | 1 | $135,000 | $135,000 |
Columbus Metro Federal Credit Union's average total fees were $2,838, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 72 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 43 | $8,375,000 | $194,767 |
| 4-5% | 26 | $3,210,000 | $123,462 |
| 2.5-3% | 6 | $1,210,000 | $201,667 |
| 5-6% | 3 | $585,000 | $195,000 |
During 2019, Columbus Metro Federal Credit Union's average interest rate for loans was 4.03%, while their most frequently originated rate bucket for loans was 3-4%, with 43 originations.
Loan Sizing
2019 saw Columbus Metro Federal Credit Union place emphasis on $100k-200k loans with 38 originations, totaling $5,010,000 in origination value.
Applicant Income
Columbus Metro Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $75k-100k, with 20 originations.
Applicant Debt to Income Ratio
Columbus Metro Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 50 originations. The next most common DTI ratio? 20-30%, with 21 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.48%
Columbus Metro Federal 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 origination55.13%
Columbus Metro Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2324.5 | 1 | $65,000 | $65,000 |
| 2358.75 | 1 | $125,000 | $125,000 |
| 2810.75 | 1 | $145,000 | $145,000 |
| 3042.25 | 1 | $205,000 | $205,000 |
| 3808.96 | 1 | $215,000 | $215,000 |
| NA | 73 | $12,625,000 | $172,945 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 78 | $13,380,000 | $171,538 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COLUMBIA BANKING SYSTEM, INC. | Conventional home mortgage | Trouble during payment process | 2 | 100.0% |