Community Savings Bank Mortgage Rates, Fees & Info

Edgewood, IA

LEI: 254900SPZRGOBHSHRP90

Tax ID: 42-0192370

5 stars - out of 5 stars, based on 19 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Community Savings Bank is a smaller bank specializing in loans. Community Savings Bank 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, Dubuque, Breckenridge, and Iowa City among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Community Savings Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Community Savings Bank 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
    30 Year Conventional Purchase 6.29% 3/28/23
    30 Year Conventional Refi 6.17% 3/28/23
    30 Year Cash-out Refi 6.14% 3/28/23
    30 Year USDA Purchase 6.51% 3/28/23
    15 Year Conventional Purchase 5.95% 3/28/23
    15 Year Conventional Refi 5.70% 3/28/23
    15 Year Cash-out Refi 5.70% 3/28/23
    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.


    Originations

    373

    Origination Dollar Volume (All Markets)

    $57,065,000
    Show all (10) awards

    Relative Rate

    Community Savings Bank's average 30 year fixed mortgage rate was 4.41%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.35%.

    Relative Fees (Closing Costs)

    Community Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,667.

    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 $4,750.

    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
    Outside of Metro Areas 181 $23,745,000 $131,188 $1,696 4.59%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 108 $15,400,000 $142,593 $1,296 4.67%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 37 $8,455,000 $228,514 $2,260 4.93%
    DUBUQUE, IA (FHA|USDA|VA) 29 $4,135,000 $142,586 $1,677 4.52%
    Breckenridge, CO (FHA|USDA|VA) 1 $2,005,000 $2,005,000 $0 4.00%
    IOWA CITY, IA (FHA|USDA|VA) 8 $1,910,000 $238,750 $1,533 5.37%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 5 $1,025,000 $205,000 $1,832 4.70%
    AMES, IA (FHA|USDA|VA) 2 $200,000 $100,000 $536 7.20%
    MADISON, WI (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.99%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $65,000 $65,000 $0 3.75%
    Community Savings Bank's top markets include Cedar Rapids, Des Moines, Dubuque, Breckenridge, and Iowa City among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)

    • Similar Lenders

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

    BankIowa of Cedar Rapids
    Similarity Rank: 75
    Farmers & Merchants Savings Bank
    Similarity Rank: 128
    Hills Bank and Trust Company
    Similarity Rank: 266
    Community Savings Bank
    Similarity Rank: 310
    LINN AREA
    Similarity Rank: 312
    FIRST
    Similarity Rank: 336
    Ohnward Bank & Trust
    Similarity Rank: 561
    RUHL MORTGAGE, LLC
    Similarity Rank: 600
    DuTrac Community Credit Union
    Similarity Rank: 640
    Bankers Trust Company
    Similarity Rank: 646

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 352 $54,950,000 $156,108 $1,468 4.69%
    USDA 21 $2,115,000 $100,714 $3,119 4.45%

    For 2022, Community Savings Bank's most frequently originated type of loan was Conventional, with 352 originations. Their 2nd most popular type was USDA, with 21 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 206 $39,810,000 $193,252 $2,094 4.72%
    Refi 76 $10,130,000 $133,289 $1,483 4.45%
    Home Improvement 33 $1,535,000 $46,515 $496 5.08%
    Other 30 $1,400,000 $46,667 $490 4.98%
    Cash Out Refi 28 $4,190,000 $149,643 $1,836 4.13%

    For 2022, Community Savings Bank's most frequently cited loan purpose was Home Purchase, with 206 originations. The 2nd most popular reason was Refi, with 76 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 104 $19,400,000 $186,538 $850 5.07%
    30 Year 89 $13,925,000 $156,461 $2,667 4.41%
    10 Year 87 $12,735,000 $146,379 $1,027 4.64%
    5 Year 62 $6,300,000 $101,613 $430 4.91%
    15 Year 19 $3,695,000 $194,474 $2,226 3.30%
    20 Year 6 $600,000 $100,000 $1,882 3.25%
    1 Year 4 $180,000 $45,000 $325 5.55%
    3 Year 2 $230,000 $115,000 $242 5.35%

    For 2022, Community Savings Bank's most frequently cited loan duration was Other, with 104 originations. The 2nd most popular length was 30 Year, with 89 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 170 $23,410,000 $137,706
    $1k-2k 60 $9,070,000 $151,167
    $2k-3k 12 $2,780,000 $231,667
    $5k+ 2 $940,000 $470,000
    $3k-4k 1 $375,000 $375,000
    $4k-5k 1 $455,000 $455,000

    Community Savings Bank's average total fees were $2,667, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 170 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 147 $19,435,000 $132,211
    5-6% 93 $10,225,000 $109,946
    3-4% 74 $19,830,000 $267,973
    6-7% 26 $3,030,000 $116,538
    2.5-3% 18 $3,130,000 $173,889
    <2.5% 9 $1,115,000 $123,889
    7-8% 3 $235,000 $78,333
    Over 8% 3 $65,000 $21,667

    During 2022, Community Savings Bank's average interest rate for loans was 4.41%, while their most frequently originated rate bucket for loans was 4-5%, with 147 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 158 $8,180,000 $51,772 $969 4.92%
    $100k-200k 110 $15,100,000 $137,273 $2,207 4.59%
    $200k-400k 86 $22,410,000 $260,581 $1,850 4.46%
    $400k-600k 17 $8,165,000 $480,294 $2,301 4.07%
    $1MM+ 2 $3,210,000 $1,605,000 $1,273 4.00%

    2022 saw Community Savings Bank place emphasis on $100,000 or less loans with 158 originations, totaling $8,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 68 $6,770,000 $99,559 $1,711 4.81%
    $100k-150k 59 $10,965,000 $185,847 $1,591 4.46%
    $50k or less 53 $3,875,000 $73,113 $1,662 4.88%
    $75k-100k 41 $5,735,000 $139,878 $1,558 4.61%
    $150k-250k 33 $7,515,000 $227,727 $1,669 4.44%
    $250k+ 16 $3,510,000 $219,375 $1,105 4.64%

    Community Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 68 originations. The second most popular income band? $100k-150k, with 59 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 86 $13,330,000 $155,000 $1,782 4.40%
    30-36% 54 $7,130,000 $132,037 $1,533 4.78%
    <20% 30 $4,260,000 $142,000 $1,686 4.15%
    36% 13 $1,385,000 $106,538 $982 4.43%
    43% 12 $1,680,000 $140,000 $1,395 5.68%
    37% 10 $1,340,000 $134,000 $1,330 4.99%
    41% 10 $960,000 $96,000 $1,254 5.49%
    42% 9 $725,000 $80,556 $1,293 5.25%
    39% 7 $895,000 $127,857 $1,891 4.64%
    40% 6 $520,000 $86,667 $1,396 4.63%
    48% 6 $1,090,000 $181,667 $1,314 4.73%
    44% 5 $545,000 $109,000 $1,512 4.81%
    47% 4 $1,050,000 $262,500 $1,541 4.17%
    46% 3 $235,000 $78,333 $834 5.30%
    38% 3 $755,000 $251,667 $4,058 4.63%
    45% 3 $695,000 $231,667 $1,007 4.77%
    49% 3 $755,000 $251,667 $4,354 3.42%
    50-60% 2 $150,000 $75,000 $397 5.06%
    >60% 2 $1,300,000 $650,000 $887 4.67%

    Community Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 86 originations. The next most common DTI ratio? 30-36%, with 54 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 270 $38,500,000 $142,593 $1,611 4.68%
    Not applicable 91 $16,445,000 $180,714 $0 4.74%
    Not provided 6 $1,560,000 $260,000 $1,770 3.62%
    Asian 3 $385,000 $128,333 $2,339 3.85%
    American Indian 1 $105,000 $105,000 $0 4.95%
    Black 2 $70,000 $35,000 $562 5.50%

    Approval Rates

    Total approvals of all applications
    92.87%

    Community Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.69%

    Community Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    128.0 1 $25,000 $25,000
    NA 372 $57,040,000 $153,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    373 $57,065,000 $152,989

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 46 $3,130,000 $68,043 $684 4.85%
    40-60% 43 $6,325,000 $147,093 $1,622 4.70%
    60-80% 136 $29,070,000 $213,750 $2,072 4.67%
    80-100% 99 $16,725,000 $168,939 $2,253 4.45%
    Under 20% 49 $1,815,000 $37,041 $427 4.94%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) FHA mortgage Struggling to pay mortgage 2 66.7%
    Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) Other type of mortgage Trouble during payment process 1 33.3%