1st Community Credit Union Mortgage Rates, Fees & Info
Sparta, WILEI: 5493006FUC5WGWNUXC12
Tax ID: 39-6049882
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Mortgage Data
Review & Overview
1st Community Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. 1st Community Credit Union has a high proportion of conventional loans. Their top two markets are La Crosse and Winona .1st Community Credit Union 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. 1st Community Credit Union is typically a low 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 about average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.40% | 5/4/24 |
| 30 Year Conventional Refi | 6.52% | 5/4/24 |
| 30 Year Cash-out Refi | 7.35% | 5/4/24 |
| 30 Year VA Purchase | 6.09% | 5/4/24 |
| 30 Year USDA Purchase | 6.27% | 5/4/24 |
| 15 Year Conventional Purchase | 6.36% | 5/4/24 |
| 15 Year Conventional Refi | 6.63% | 5/4/24 |
| 15 Year Cash-out Refi | 6.63% | 5/4/24 |
| 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. | ||
1st Community Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
296Origination Dollar Volume (All Markets)
$32,730,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 222 | $25,300,000 | $113,964 | $1,156 | 3.67% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 73 | $7,225,000 | $98,973 | $1,002 | 4.95% |
| Winona, MN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,301 | 2.88% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 296 | $32,730,000 | $110,574 | $1,119 | 3.99% |
For 2021, 1st Community Credit Union's most frequently originated type of loan was Conventional, with 296 originations.
Loan Reason
For 2021, 1st Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 150 originations. The 2nd most popular reason was Refi, with 81 originations.
Loan Duration/Length
For 2021, 1st Community Credit Union's most frequently cited loan duration was Other, with 129 originations. The 2nd most popular length was 15 Year, with 90 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 274 | $31,790,000 | $116,022 |
1st Community Credit Union's average total fees were $1,575, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 274 originations.
Interest Rates
During 2021, 1st Community Credit Union's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was 2.5-3%, with 93 originations.
Loan Sizing
2021 saw 1st Community Credit Union place emphasis on $100,000 or less loans with 162 originations, totaling $9,220,000 in origination value.
Applicant Income
1st Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 95 originations. The second most popular income band? $50k-75k, with 64 originations.
Applicant Debt to Income Ratio
1st Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 68 originations. The next most common DTI ratio? <20%, with 47 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.57%
1st Community Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination64.19%
1st Community 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 | 296 | $32,730,000 | $110,574 |