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 Cash Out Refi loans. Community First has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Grand Rapids, Big Rapids, Mount Pleasant, Traverse City, and Lansing among others. We have data for 6 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
77Origination Dollar Volume (All Markets)
$6,785,000Top 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) | 48 | $3,660,000 | $76,250 | $0 | 0.00% |
| Big Rapids, MI (FHA|USDA|VA) | 16 | $1,620,000 | $101,250 | $0 | 0.00% |
| Outside of Metro Areas | 8 | $780,000 | $97,500 | $0 | 0.00% |
| Mount Pleasant, MI (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $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: 210
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 76 | $6,700,000 | $88,158 | $0 | 0.00% |
| USDA | 1 | $85,000 | $85,000 | $0 | 0.00% |
For 2020, Community First's most frequently originated type of loan was Conventional, with 76 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2020, Community First's most frequently cited loan purpose was Home Purchase, with 32 originations. The 2nd most popular reason was Cash Out Refi, with 27 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 77 | $6,785,000 | $88,117 | $0 | 0.00% |
For 2020, Community First's most frequently cited loan duration was Other, with 77 originations.
Loan Sizing
2020 saw Community First place emphasis on $100,000 or less loans with 52 originations, totaling $2,550,000 in origination value.
Applicant Income
Community First lent most frequently to those with incomes in the $50k or less range, with 43 originations. The second most popular income band? $50k-75k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 77 | $6,785,000 | $88,117 | $0 | 0.00% |
Community First lent most frequently to those with DTI ratios of Exempt%, with 77 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.75%
Community First has a below average approval rate.
Pick Rate
Approvals leading to origination72.73%
Community First has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 77 | $6,785,000 | $88,117 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 10 | $370,000 | $37,000 |
| Single Family (1-4 Units):Site-Built | 67 | $6,415,000 | $95,746 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMMUNITY BANK SYSTEM, INC. | Conventional home mortgage | Struggling to pay mortgage | 1 | 33.3% |
| COMMUNITY BANK SYSTEM, INC. | Conventional home mortgage | Trouble during payment process | 1 | 33.3% |
| COMMUNITY BANK SYSTEM, INC. | Other type of mortgage | Closing on a mortgage | 1 | 33.3% |