Community First Mortgage Rates, Fees & Info
Lakeview, MILEI: 5493006CRT5VJ5L0N291
Tax ID: 38-2608161
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Mortgage Data
Review & Overview
Community First is a smaller mortgage company specializing in Home Purchase and Other loans. Community First has a high proportion of conventional loans. Their top markets by origination volume include: Grand Rapids, Big Rapids, Mount Pleasant, Ludington, and Alma among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Community First 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.
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Originations
170Origination Dollar Volume (All Markets)
$15,240,000Top 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 |
|---|---|---|---|---|---|
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 124 | $11,340,000 | $91,452 | $0 | 0.00% |
| Big Rapids, MI (FHA|USDA|VA) | 25 | $1,435,000 | $57,400 | $0 | 0.00% |
| Outside of Metro Areas | 9 | $975,000 | $108,333 | $0 | 0.00% |
| Mount Pleasant, MI (FHA|USDA|VA) | 5 | $705,000 | $141,000 | $0 | 0.00% |
| Ludington, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Alma, MI (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 0.00% |
| MUSKEGON, MI (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 0.00% |
| BAY CITY, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
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.
Similarity Rank: 297
Similarity Rank: 344
Similarity Rank: 364
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Similarity Rank: 660
Similarity Rank: 714
Similarity Rank: 720
Similarity Rank: 792
Similarity Rank: 793
Similarity Rank: 910
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 160 | $14,240,000 | $89,000 | $0 | 0.00% |
| USDA | 10 | $1,000,000 | $100,000 | $0 | 0.00% |
For 2019, Community First's most frequently originated type of loan was Conventional, with 160 originations. Their 2nd most popular type was USDA, with 10 originations.
Loan Reason
For 2019, Community First's most frequently cited loan purpose was Home Purchase, with 86 originations. The 2nd most popular reason was Other, with 48 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 170 | $15,240,000 | $89,647 | $0 | 0.00% |
For 2019, Community First's most frequently cited loan duration was Other, with 170 originations.
Loan Sizing
2019 saw Community First place emphasis on $100,000 or less loans with 117 originations, totaling $6,255,000 in origination value.
Applicant Income
Community First lent most frequently to those with incomes in the $50k or less range, with 78 originations. The second most popular income band? $50k-75k, with 39 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 170 | $15,240,000 | $89,647 | $0 | 0.00% |
Community First lent most frequently to those with DTI ratios of Exempt%, with 170 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 155 | $13,975,000 | $90,161 | $0 | 0.00% |
| Not provided | 14 | $1,250,000 | $89,286 | $0 | 0.00% |
| Black | 1 | $15,000 | $15,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications94.40%
Community First has an average approval rate.
Pick Rate
Approvals leading to origination68.24%
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 | 170 | $15,240,000 | $89,647 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 21 | $1,055,000 | $50,238 |
| Single Family (1-4 Units):Site-Built | 149 | $14,185,000 | $95,201 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMMUNITY BANK SYSTEM, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 20.0% |
| COMMUNITY BANK SYSTEM, INC. | Conventional home mortgage | Trouble during payment process | 3 | 60.0% |
| COMMUNITY BANK SYSTEM, INC. | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 20.0% |