Cme Federal Credit Union Mortgage Rates, Fees & Info

Columbus, OH

LEI: 5493003GJY287GIWFH36

Tax ID: 31-4376841

5 stars - Updated: 11/17/24 - out of 5 stars, based on 14 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Cme Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Cme Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Columbus, Mount Vernon, Bellefontaine, Cleveland, and Atlanta among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cme 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. Cme Federal Credit Union is typically an average 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 relatively high 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 6.49% 11/17/24
    30 Year Conventional Refi 6.62% 11/17/24
    30 Year Cash-out Refi 6.79% 11/17/24
    30 Year FHA Purchase 6.97% 11/17/24
    30 Year FHA Refi 6.27% 11/17/24
    30 Year VA Purchase 6.40% 11/17/24
    30 Year USDA Purchase 6.27% 11/17/24
    15 Year Conventional Purchase 6.28% 11/17/24
    15 Year Conventional Refi 6.12% 11/17/24
    15 Year Cash-out Refi 6.12% 11/17/24
    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.

    Cme 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 Cme 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

    195

    Origination Dollar Volume (All Markets)

    $36,085,000

    Awards

    CME Federal Credit Union 30 Year Conventional Loans gold CME Federal Credit Union 30 Year Conventional Loans gold
    Show all (2) awards

    Relative Rate

    Cme Federal Credit Union's average 30 year fixed mortgage rate was 5.31%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -1.17%.

    Relative Fees (Closing Costs)

    Cme Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,785.

    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 $9,089.

    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) 177 $32,605,000 $184,209 $3,074 6.77%
    Mount Vernon, OH (FHA|USDA|VA) 4 $710,000 $177,500 $3,259 5.68%
    Bellefontaine, OH (FHA|USDA|VA) 1 $545,000 $545,000 $15,972 4.50%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $340,000 $170,000 $2,603 8.08%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $275,000 $275,000 $5,605 8.13%
    TOLEDO, OH (FHA|USDA|VA) 1 $265,000 $265,000 $3,563 4.50%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $255,000 $255,000 $0 6.63%
    Wilmington, OH (FHA|USDA|VA) 1 $235,000 $235,000 $11,602 5.45%
    Chillicothe, OH (FHA|USDA|VA) 1 $225,000 $225,000 $0 5.55%
    Washington Court House, OH (FHA|USDA|VA) 1 $225,000 $225,000 $2,834 5.30%
    Jackson, OH (FHA|USDA|VA) 1 $195,000 $195,000 $7,316 4.50%
    Outside of Metro Areas 1 $55,000 $55,000 $2,535 7.40%
    SPRINGFIELD, OH (FHA|USDA|VA) 1 $55,000 $55,000 $625 9.75%
    Urbana, OH (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.45%
    Sandusky, OH (FHA|USDA|VA) 1 $45,000 $45,000 $3,730 6.50%
    Cme Federal Credit Union's top markets include Columbus, Mount Vernon, Bellefontaine, Cleveland, and Atlanta among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • Similar Lenders

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

    Fidelity Federal Savings and Loan Association
    Similarity Rank: 210
    The Community Bank
    Similarity Rank: 216
    Pathways Financial Credit Union, Inc.
    Similarity Rank: 440
    First Federal Savings and Loan Association
    Similarity Rank: 496
    The Merchants National Bank
    Similarity Rank: 630
    TrueCore Federal Credit Union
    Similarity Rank: 690
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 780
    BMI Federal Credit Union
    Similarity Rank: 783
    CME Federal Credit Union
    Similarity Rank: 990
    THE VINTON COUNTY NATIONAL BANK
    Similarity Rank: 1417

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 194 $35,830,000 $184,691 $3,190 6.73%
    USDA 1 $255,000 $255,000 $10,735 5.50%

    For 2023, Cme Federal Credit Union's most frequently originated type of loan was Conventional, with 194 originations. Their 2nd most popular type was USDA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 67 $22,635,000 $337,836 $5,576 5.41%
    Other 67 $5,065,000 $75,597 $250 8.20%
    Home Improvement 28 $2,150,000 $76,786 $222 8.07%
    Cash Out Refi 18 $3,730,000 $207,222 $5,906 5.30%
    Refi 15 $2,505,000 $167,000 $3,926 5.22%

    For 2023, Cme Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 67 originations. The 2nd most popular reason was Other, with 67 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 98 $7,700,000 $78,571 $234 7.96%
    30 Year 84 $27,070,000 $322,262 $5,785 5.31%
    15 Year 8 $920,000 $115,000 $1,971 7.27%
    Other 3 $265,000 $88,333 $0 4.83%
    20 Year 1 $85,000 $85,000 $400 10.25%
    5 Year 1 $45,000 $45,000 $183 2.80%

    For 2023, Cme Federal Credit Union's most frequently cited loan duration was 10 Year, with 98 originations. The 2nd most popular length was 30 Year, with 84 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 191 $35,285,000 $184,738
    $2k-3k 2 $510,000 $255,000
    $4k-5k 1 $255,000 $255,000

    Cme Federal Credit Union's average total fees were $5,785, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 191 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 65 $3,905,000 $60,077
    4-5% 56 $15,760,000 $281,429
    5-6% 50 $14,080,000 $281,600
    6-7% 14 $1,730,000 $123,571
    7-8% 9 $565,000 $62,778
    2.5-3% 1 $45,000 $45,000

    During 2023, Cme Federal Credit Union's average interest rate for loans was 5.31%, while their most frequently originated rate bucket for loans was Over 8%, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 84 $4,250,000 $50,595 $435 8.17%
    $200k-400k 43 $12,225,000 $284,302 $5,272 5.39%
    $100k-200k 40 $5,660,000 $141,500 $4,309 6.19%
    $400k-600k 25 $11,925,000 $477,000 $6,213 5.20%
    $600k-1MM 3 $2,025,000 $675,000 $8,305 5.42%

    2023 saw Cme Federal Credit Union place emphasis on $100,000 or less loans with 84 originations, totaling $4,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 61 $11,545,000 $189,262 $3,035 6.72%
    $150k-250k 48 $12,630,000 $263,125 $3,601 6.90%
    $75k-100k 29 $4,965,000 $171,207 $3,019 6.77%
    $50k-75k 28 $2,880,000 $102,857 $4,300 6.69%
    $50k or less 21 $1,265,000 $60,238 $1,149 6.88%
    $250k+ 8 $2,800,000 $350,000 $3,587 5.29%

    Cme Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 61 originations. The second most popular income band? $150k-250k, with 48 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 35 $6,275,000 $179,286 $2,565 6.58%
    30-36% 32 $6,640,000 $207,500 $3,510 6.54%
    <20% 16 $2,960,000 $185,000 $3,238 5.43%
    40% 12 $2,890,000 $240,833 $4,477 6.90%
    45% 10 $1,150,000 $115,000 $2,024 7.59%
    50-60% 9 $1,765,000 $196,111 $1,928 7.13%
    42% 9 $435,000 $48,333 $751 8.76%
    46% 8 $1,320,000 $165,000 $3,040 6.39%
    41% 8 $970,000 $121,250 $1,848 5.70%
    49% 8 $840,000 $105,000 $183 7.77%
    39% 6 $890,000 $148,333 $11,917 6.33%
    44% 6 $1,270,000 $211,667 $1,559 7.51%
    37% 5 $275,000 $55,000 $183 7.89%
    43% 5 $1,205,000 $241,000 $3,128 7.85%
    38% 5 $1,125,000 $225,000 $3,973 6.91%
    47% 5 $705,000 $141,000 $1,619 6.29%
    36% 4 $1,540,000 $385,000 $5,707 5.13%
    48% 2 $110,000 $55,000 $183 7.33%

    Cme Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 35 originations. The next most common DTI ratio? 30-36%, with 32 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 99 $17,355,000 $175,303 $2,978 6.82%
    Not provided 69 $11,285,000 $163,551 $2,663 6.58%
    Asian 12 $5,170,000 $430,833 $5,112 5.05%
    Black 13 $1,285,000 $98,846 $4,962 8.47%
    Asian Indian 2 $990,000 $495,000 $5,525 6.00%

    Approval Rates

    Total approvals of all applications
    74.36%

    Cme Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    86.15%

    Cme Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 195 $36,085,000 $185,051

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    195 $36,085,000 $185,051

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 43 $4,635,000 $107,791 $866 7.41%
    40-60% 15 $2,425,000 $161,667 $2,589 5.96%
    60-80% 36 $10,010,000 $278,056 $3,529 5.52%
    80-100% 39 $13,005,000 $333,462 $8,260 5.23%
    Under 20% 52 $2,290,000 $44,038 $226 8.45%