Community First Mortgage Rates, Fees & Info

Lakeview, MI

LEI: 5493006CRT5VJ5L0N291

Tax ID: 38-2608161

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

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Mortgage Data

Review & Overview

Community First is a smaller mortgage company specializing in Other and Home Purchase loans. Community First has a high proportion of conventional loans. Their top markets by origination volume include: Grand Rapids, Big Rapids, and Mount Pleasant among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Community First 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.

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Originations

33

Origination Dollar Volume (All Markets)

$3,855,000

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
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 23 $2,665,000 $115,870 $0 0.00%
Big Rapids, MI (FHA|USDA|VA) 7 $715,000 $102,143 $0 0.00%
Outside of Metro Areas 2 $360,000 $180,000 $0 0.00%
Mount Pleasant, MI (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
Community First's top markets include Grand Rapids, Big Rapids, and Mount Pleasant among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • Similar Lenders

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

    United Bank of Michigan
    Similarity Rank: 98
    Adventure Credit Union
    Similarity Rank: 130
    Macatawa Bank
    Similarity Rank: 168
    MICHIGAN SCHOOLS AND GOVERNMENT
    Similarity Rank: 253
    ARBOR FINANCIAL CREDIT UNION
    Similarity Rank: 315
    PFCU
    Similarity Rank: 400
    Isabella Bank
    Similarity Rank: 400
    AAC Credit Union
    Similarity Rank: 488
    Community West Credit Union
    Similarity Rank: 552

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 33 $3,855,000 $116,818 $0 0.00%

    For 2023, Community First's most frequently originated type of loan was Conventional, with 33 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 11 $1,485,000 $135,000 $0 0.00%
    Home Improvement 7 $555,000 $79,286 $0 0.00%
    Cash Out Refi 6 $550,000 $91,667 $0 0.00%
    Home Purchase 5 $785,000 $157,000 $0 0.00%
    Refi 4 $480,000 $120,000 $0 0.00%

    For 2023, Community First's most frequently cited loan purpose was Other, with 11 originations. The 2nd most popular reason was Home Improvement, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 33 $3,855,000 $116,818 $0 0.00%

    For 2023, Community First's most frequently cited loan duration was Other, with 33 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 19 $1,095,000 $57,632 $0 0.00%
    $100k-200k 7 $965,000 $137,857 $0 0.00%
    $200k-400k 7 $1,795,000 $256,429 $0 0.00%

    2023 saw Community First place emphasis on $100,000 or less loans with 19 originations, totaling $1,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 15 $1,845,000 $123,000 $0 0.00%
    $100k-150k 5 $595,000 $119,000 $0 0.00%
    $50k-75k 5 $575,000 $115,000 $0 0.00%
    $75k-100k 4 $510,000 $127,500 $0 0.00%
    $150k-250k 3 $245,000 $81,667 $0 0.00%

    Community First lent most frequently to those with incomes in the $50k or less range, with 15 originations. The second most popular income band? $100k-150k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 33 $3,855,000 $116,818 $0 0.00%

    Community First lent most frequently to those with DTI ratios of Exempt%, with 33 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 20 $2,390,000 $119,500 $0 0.00%
    Not provided 13 $1,465,000 $112,692 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.75%

    Community First has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    57.58%

    Community First 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
    Exempt 33 $3,855,000 $116,818

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    33 $3,855,000 $116,818