Columbus Metro Federal Credit Union Mortgage Rates, Fees & Info

Columbus, OH

LEI: 254900R8RQ7UOD00O702

Tax ID: 31-4388311

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

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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

    Columbus Metro Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Columbus Metro Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Mount Vernon, Bellefontaine, Rochester, and Marion among others. We have data for 12 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.

    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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    Originations

    235

    Origination Dollar Volume (All Markets)

    $42,005,000

    Awards

    Columbus Metro Federal Credit Union 30 Year Conventional Loans bronze Columbus Metro Federal Credit Union 30 Year Conventional Loans bronze Columbus Metro Federal Credit Union 30 Year Conventional Loans silver
    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
    COLUMBUS, OH (FHA|USDA|VA) 220 $39,770,000 $180,773 $2,705 2.99%
    Mount Vernon, OH (FHA|USDA|VA) 3 $715,000 $238,333 $2,676 2.76%
    Bellefontaine, OH (FHA|USDA|VA) 2 $280,000 $140,000 $2,797 3.17%
    ROCHESTER, NY (FHA|USDA|VA) 1 $205,000 $205,000 $3,132 2.72%
    Marion, OH (FHA|USDA|VA) 1 $195,000 $195,000 $2,681 2.48%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $175,000 $175,000 $2,823 3.18%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $155,000 $155,000 $4,149 3.13%
    MANSFIELD, OH (FHA|USDA|VA) 2 $150,000 $75,000 $2,702 2.94%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $145,000 $145,000 $3,001 3.63%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $105,000 $105,000 $3,242 2.85%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $65,000 $65,000 $5,755 3.24%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $45,000 $45,000 $1,711 2.88%
    Columbus Metro Federal Credit Union's top markets include Columbus, Mount Vernon, Bellefontaine, Rochester, and Marion among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • 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.

    Commodore Bank
    Similarity Rank: 153
    Mechanics Bank
    Similarity Rank: 396
    First Federal Savings and Loan Association
    Similarity Rank: 620
    Kingston National Bank
    Similarity Rank: 708
    Columbus Metro Federal Credit Union
    Similarity Rank: 864
    EDUCATION FIRST CREDIT UNION, INC.
    Similarity Rank: 1230
    TrueCore Federal Credit Union
    Similarity Rank: 1488
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 1584
    The Richwood Banking Company
    Similarity Rank: 1869
    The Community Bank
    Similarity Rank: 1950

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 235 $42,005,000 $178,745 $2,726 2.99%

    For 2020, Columbus Metro Federal Credit Union's most frequently originated type of loan was Conventional, with 235 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 113 $20,365,000 $180,221 $2,664 2.92%
    Refi 89 $16,315,000 $183,315 $2,640 2.90%
    Home Purchase 29 $5,155,000 $177,759 $3,229 3.26%
    Home Improvement 4 $170,000 $42,500 $0 4.92%

    For 2020, Columbus Metro Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 113 originations. The 2nd most popular reason was Refi, with 89 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 138 $26,120,000 $189,275 $2,840 3.07%
    15 Year 66 $10,770,000 $163,182 $2,529 2.77%
    20 Year 23 $4,305,000 $187,174 $2,626 2.86%
    10 Year 6 $530,000 $88,333 $2,495 3.58%
    5 Year 1 $35,000 $35,000 $0 4.99%
    Other 1 $245,000 $245,000 $2,830 3.00%

    For 2020, Columbus Metro Federal Credit Union's most frequently cited loan duration was 30 Year, with 138 originations. The 2nd most popular length was 15 Year, with 66 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 126 $21,900,000 $173,810
    $<1k 26 $4,290,000 $165,000
    $2k-3k 3 $695,000 $231,667
    $3k-4k 1 $215,000 $215,000

    Columbus Metro Federal Credit Union's average total fees were $2,840, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 126 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 130 $25,030,000 $192,538
    3-4% 70 $10,760,000 $153,714
    <2.5% 29 $5,895,000 $203,276
    4-5% 5 $215,000 $43,000
    % 1 $105,000 $105,000

    During 2020, Columbus Metro Federal Credit Union's average interest rate for loans was 3.07%, while their most frequently originated rate bucket for loans was 2.5-3%, with 130 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 115 $16,675,000 $145,000 $2,587 2.97%
    $200k-400k 77 $21,015,000 $272,922 $3,008 2.89%
    $100,000 or less 40 $2,830,000 $70,750 $2,509 3.25%
    $400k-600k 3 $1,485,000 $495,000 $3,372 2.75%

    2020 saw Columbus Metro Federal Credit Union place emphasis on $100k-200k loans with 115 originations, totaling $16,675,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 56 $10,910,000 $194,821 $2,898 2.96%
    $50k-75k 49 $7,215,000 $147,245 $2,618 3.03%
    $75k-100k 48 $8,190,000 $170,625 $2,527 3.01%
    $150k-250k 47 $11,755,000 $250,106 $2,834 2.86%
    $50k or less 33 $3,655,000 $110,758 $2,740 3.10%
    $250k+ 2 $280,000 $140,000 $2,575 3.19%

    Columbus Metro Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 56 originations. The second most popular income band? $50k-75k, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 158 $27,220,000 $172,278 $2,694 2.95%
    20-30% 55 $11,015,000 $200,273 $2,725 2.99%
    30-36% 10 $1,810,000 $181,000 $2,812 2.90%
    40% 4 $730,000 $182,500 $2,912 3.42%
    38% 2 $170,000 $85,000 $2,297 4.00%
    39% 2 $140,000 $70,000 $5,755 4.11%
    43% 1 $155,000 $155,000 $2,544 3.63%
    36% 1 $225,000 $225,000 $3,377 2.69%
    42% 1 $335,000 $335,000 $3,012 2.50%
    37% 1 $205,000 $205,000 $3,000 3.13%

    Columbus Metro Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 158 originations. The next most common DTI ratio? 20-30%, with 55 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 125 $23,135,000 $185,080 $2,698 2.97%
    Black 77 $12,915,000 $167,727 $2,780 3.05%
    Not provided 15 $3,175,000 $211,667 $2,851 2.94%
    Asian 12 $1,840,000 $153,333 $2,583 2.84%
    American Indian 1 $185,000 $185,000 $2,195 2.94%
    Native Hawaiian or Islander 1 $175,000 $175,000 $2,155 2.50%
    Guamanian 1 $175,000 $175,000 $2,604 2.50%
    Other Asian 1 $155,000 $155,000 $2,162 2.94%
    Asian Indian 1 $145,000 $145,000 $4,112 3.50%
    Not applicable 1 $105,000 $105,000 $2,305 3.13%

    Approval Rates

    Total approvals of all applications
    95.41%

    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 origination
    78.72%

    Columbus Metro Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 235 $42,005,000 $178,745

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $25,000 $25,000
    Single Family (1-4 Units):Site-Built 234 $41,980,000 $179,402

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $1,675,000 $98,529 $2,460 2.97%
    40-60% 39 $5,435,000 $139,359 $2,467 2.87%
    60-80% 125 $24,385,000 $195,080 $2,716 2.93%
    80-100% 51 $10,415,000 $204,216 $3,027 3.11%
    Under 20% 3 $95,000 $31,667 $0 4.89%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    COLUMBIA BANKING SYSTEM, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 1 100.0%