Community Resource Federal Credit Union Mortgage Rates, Fees & Info
Albany, NYLEI: 5493002PPPIVY6G0AH03
Tax ID: 14-1339924
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Community Resource Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Community Resource Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Glens Falls, Hudson, and Amsterdam among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Community Resource Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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 | 6.93% | 4/28/24 |
| 30 Year Cash-out Refi | 7.06% | 4/28/24 |
| 15 Year Conventional Purchase | 6.05% | 4/28/24 |
| 15 Year Conventional Refi | 5.68% | 4/28/24 |
| 15 Year Cash-out Refi | 5.68% | 4/28/24 |
| 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. | ||
Community Resource Federal Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Community Resource Federal 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
53Origination Dollar Volume (All Markets)
$7,325,000Top 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 |
|---|---|---|---|---|---|
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 46 | $6,380,000 | $138,696 | $1,868 | 3.24% |
| GLENS FALLS, NY (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $1,984 | 3.33% |
| Outside of Metro Areas | 2 | $300,000 | $150,000 | $1,884 | 3.13% |
| Hudson, NY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,950 | 3.25% |
| Amsterdam, NY (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,100 | 3.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 53 | $7,325,000 | $138,208 | $1,862 | 3.24% |
For 2021, Community Resource Federal Credit Union's most frequently originated type of loan was Conventional, with 53 originations.
Loan Reason
For 2021, Community Resource Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 42 originations. The 2nd most popular reason was Home Improvement, with 5 originations.
Loan Duration/Length
For 2021, Community Resource Federal Credit Union's most frequently cited loan duration was 15 Year, with 24 originations. The 2nd most popular length was 20 Year, with 17 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 31 | $4,605,000 | $148,548 |
| 2.5-3% | 21 | $2,595,000 | $123,571 |
| 4-5% | 1 | $125,000 | $125,000 |
During 2021, Community Resource Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 31 originations.
Loan Sizing
2021 saw Community Resource Federal Credit Union place emphasis on $100k-200k loans with 28 originations, totaling $3,830,000 in origination value.
Applicant Income
Community Resource Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 17 originations. The second most popular income band? $100k-150k, with 15 originations.
Applicant Debt to Income Ratio
Community Resource Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? 30-36%, with 10 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.61%
Community Resource Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination69.81%
Community Resource 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 |
|---|---|---|---|
| NA | 53 | $7,325,000 | $138,208 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMMUNITY MORTGAGE CORPORATION | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |