Community Financial Credit Union Mortgage Rates, Fees & Info

PLYMOUTH, MI

LEI: 5493007XQ4LU452LQJ67

Tax ID: 38-1447620

5 stars - Updated: 6/22/25 - out of 5 stars, based on 33 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • 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

    Community Financial Credit Union is a smaller credit union specializing in Other and Home Purchase loans. Community Financial Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Ann Arbor, Alpena, Lansing, and Flint among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Community Financial 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. Community Financial 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.

    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
    Home Equity Line of Credit (HELOC) 7.22% 6/22/25
    30 Year Conventional Purchase 7.02% 6/22/25
    30 Year Conventional Refi 6.97% 6/22/25
    30 Year Cash-out Refi 6.83% 6/22/25
    30 Year FHA Purchase 6.72% 6/22/25
    30 Year VA Purchase 6.72% 6/22/25
    30 Year USDA Purchase 6.72% 6/22/25
    15 Year Conventional Purchase 6.26% 6/22/25
    15 Year Conventional Refi 6.39% 6/22/25
    15 Year Cash-out Refi 6.39% 6/22/25
    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.

    Community Financial Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Community Financial 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

    1,070

    Origination Dollar Volume (All Markets)

    $130,280,000

    Awards

    COMMUNITY FINANCIAL CREDIT UNION 30 Year Conventional Loans silver COMMUNITY FINANCIAL CREDIT UNION 30 Year Conventional Loans silver COMMUNITY FINANCIAL CREDIT UNION 30 Year Conventional Loans silver
    Show all (3) awards

    Relative Rate

    Community Financial Credit Union's average 30 year fixed mortgage rate was 6.73%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.18%.

    Relative Fees (Closing Costs)

    Community Financial Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,132.

    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 $8,356.

    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
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 667 $88,575,000 $132,796 $2,223 8.47%
    Outside of Metro Areas 303 $28,015,000 $92,459 $2,300 8.29%
    ANN ARBOR, MI (FHA|USDA|VA) 36 $5,720,000 $158,889 $2,491 8.23%
    Alpena, MI (FHA|USDA|VA) 14 $1,230,000 $87,857 $2,764 8.04%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 5 $905,000 $181,000 $2,513 7.52%
    FLINT, MI (FHA|USDA|VA) 8 $790,000 $98,750 $2,987 7.87%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 6 $780,000 $130,000 $1,120 9.54%
    Cadillac, MI (FHA|USDA|VA) 2 $570,000 $285,000 $3,233 6.31%
    MONROE, MI (FHA|USDA|VA) 6 $530,000 $88,333 $1,017 9.10%
    Traverse City, MI (FHA|USDA|VA) 4 $440,000 $110,000 $3,068 8.09%
    JACKSON, MI (FHA|USDA|VA) 1 $425,000 $425,000 $4,606 6.75%
    Houghton, MI (FHA|USDA|VA) 2 $410,000 $205,000 $3,574 6.50%
    BAY CITY, MI (FHA|USDA|VA) 2 $330,000 $165,000 $3,030 6.44%
    Sault Ste. Marie, MI (FHA|USDA|VA) 1 $315,000 $315,000 $3,147 6.75%
    Adrian, MI (FHA|USDA|VA) 2 $290,000 $145,000 $0 8.13%
    MIDLAND, MI (FHA|USDA|VA) 2 $230,000 $115,000 $1,215 8.81%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 3 $215,000 $71,667 $0 8.50%
    Big Rapids, MI (FHA|USDA|VA) 1 $185,000 $185,000 $2,796 6.63%
    Holland, MI (FHA|USDA|VA) 1 $105,000 $105,000 $0 9.50%
    NILES, MI (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.99%
    Escanaba, MI (FHA|USDA|VA) 1 $75,000 $75,000 $0 8.75%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $35,000 $35,000 $0 9.24%
    SAGINAW, MI (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.49%
    Community Financial Credit Union's top markets include Detroit, Ann Arbor, Alpena, Lansing, and Flint among others.

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

    • Similar Lenders

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

    South Metro Federal Credit Union
    Similarity Rank: 45
    Polish-American Federal Credit Union
    Similarity Rank: 90
    Dearborn Federal Savings Bank
    Similarity Rank: 100
    MEMBERFOCUS COMMUNITY
    Similarity Rank: 120
    Michigan Legacy Credit Union
    Similarity Rank: 405
    Public Service Credit Union
    Similarity Rank: 432
    Dort Financial Credit Union
    Similarity Rank: 506
    Extra
    Similarity Rank: 668
    MICHIGAN SCHOOLS AND GOVERNMENT
    Similarity Rank: 736
    FINANCIAL PLUS CREDIT UNION
    Similarity Rank: 756

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 596 $68,090,000 $114,245 n/a 8.77%
    Conventional 474 $62,190,000 $131,203 $2,284 7.91%

    For 2024, Community Financial Credit Union's most frequently originated type of loan was HELOC, with 596 originations. Their 2nd most popular type was Conventional, with 474 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 338 $32,600,000 $96,450 $24 9.08%
    Home Improvement 292 $26,040,000 $89,178 $119 8.67%
    Home Purchase 202 $40,310,000 $199,554 $3,115 6.80%
    Cash Out Refi 178 $24,630,000 $138,371 $1,691 8.71%
    Refi 60 $6,700,000 $111,667 $2,637 7.50%

    For 2024, Community Financial Credit Union's most frequently cited loan purpose was Other, with 338 originations. The 2nd most popular reason was Home Improvement, with 292 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 435 $45,805,000 $105,299 $111 9.07%
    Other 256 $27,310,000 $106,680 $4 8.43%
    30 Year 236 $47,030,000 $199,280 $3,132 6.73%
    20 Year 70 $5,950,000 $85,000 $418 9.74%
    5 Year 44 $1,570,000 $35,682 $103 8.27%
    15 Year 23 $1,895,000 $82,391 $1,881 8.23%
    1 Year 5 $615,000 $123,000 $0 8.30%
    3 Year 1 $105,000 $105,000 $0 7.24%

    For 2024, Community Financial Credit Union's most frequently cited loan duration was 10 Year, with 435 originations. The 2nd most popular length was Other, with 256 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 267 $38,235,000 $143,202
    $1k-2k 60 $11,210,000 $186,833
    $2k-3k 9 $2,305,000 $256,111
    $3k-4k 7 $1,635,000 $233,571
    $4k-5k 1 $175,000 $175,000
    $5k+ 1 $335,000 $335,000

    Community Financial Credit Union's average total fees were $3,132, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 267 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 563 $43,975,000 $78,108
    7-8% 305 $42,535,000 $139,459
    6-7% 160 $35,390,000 $221,188
    5-6% 37 $7,485,000 $202,297
    4-5% 4 $860,000 $215,000

    During 2024, Community Financial Credit Union's average interest rate for loans was 6.73%, while their most frequently originated rate bucket for loans was Over 8%, with 563 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 561 $28,845,000 $51,417 $1,121 8.95%
    $100k-200k 325 $42,615,000 $131,123 $2,586 8.04%
    $200k-400k 147 $38,685,000 $263,163 $3,481 7.32%
    $400k-600k 25 $11,895,000 $475,800 $4,162 7.34%
    $600k-1MM 12 $8,240,000 $686,667 $4,366 6.98%

    2024 saw Community Financial Credit Union place emphasis on $100,000 or less loans with 561 originations, totaling $28,845,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 275 $33,585,000 $122,127 $2,537 8.42%
    $150k-250k 205 $32,385,000 $157,976 $2,192 8.42%
    $50k-75k 191 $16,075,000 $84,162 $2,068 8.35%
    $75k-100k 152 $15,810,000 $104,013 $2,299 8.41%
    $50k or less 143 $9,025,000 $63,112 $2,135 8.36%
    $250k+ 99 $22,785,000 $230,152 $3,018 8.31%

    Community Financial Credit Union lent most frequently to those with incomes in the $100k-150k range, with 275 originations. The second most popular income band? $150k-250k, with 205 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 202 $23,970,000 $118,663 $2,463 8.23%
    30-36% 200 $25,170,000 $125,850 $2,402 8.25%
    50-60% 119 $14,165,000 $119,034 $1,391 8.50%
    <20% 86 $9,860,000 $114,651 $2,535 8.12%
    40% 46 $6,480,000 $140,870 $1,915 8.39%
    42% 42 $5,720,000 $136,190 $2,294 8.51%
    39% 41 $6,075,000 $148,171 $2,363 8.35%
    41% 40 $4,960,000 $124,000 $2,792 8.56%
    38% 35 $4,245,000 $121,286 $2,941 8.26%
    43% 35 $4,205,000 $120,143 $2,378 8.68%
    36% 33 $3,075,000 $93,182 $1,522 8.80%
    44% 31 $3,905,000 $125,968 $2,626 8.36%
    45% 29 $2,295,000 $79,138 $1,467 9.05%
    37% 24 $3,870,000 $161,250 $2,958 8.18%
    46% 22 $2,480,000 $112,727 $3,149 8.50%
    >60% 22 $2,860,000 $130,000 $2,104 8.15%
    47% 21 $1,915,000 $91,190 $2,686 8.95%
    48% 20 $2,560,000 $128,000 $2,038 8.57%
    49% 17 $1,855,000 $109,118 $1,493 9.13%

    Community Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 202 originations. The next most common DTI ratio? 30-36%, with 200 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 850 $104,260,000 $122,659 $2,333 8.31%
    Not provided 145 $17,565,000 $121,138 $2,353 8.67%
    Black 45 $3,525,000 $78,333 $1,359 9.03%
    Asian 14 $2,510,000 $179,286 $3,532 8.22%
    Not applicable 5 $615,000 $123,000 $0 8.30%
    Asian Indian 4 $600,000 $150,000 $0 8.13%
    Other Asian 1 $505,000 $505,000 $0 8.75%
    Filipino 2 $320,000 $160,000 $0 8.00%
    American Indian 3 $315,000 $105,000 $1,714 8.38%
    Chinese 1 $65,000 $65,000 $0 9.99%

    Approval Rates

    Total approvals of all applications
    86.14%

    Community Financial Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.81%

    Community Financial Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,070 $130,280,000 $121,757

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,070 $130,280,000 $121,757

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 358 $39,250,000 $109,637 $1,053 8.81%
    40-60% 120 $19,720,000 $164,333 $2,917 7.98%
    60-80% 137 $28,345,000 $206,898 $3,303 7.22%
    80-100% 113 $25,105,000 $222,168 $3,117 7.18%
    Over 100% 2 $280,000 $140,000 $2,347 7.81%
    Under 20% 340 $17,580,000 $51,706 $119 8.96%