Community Financial Credit Union Mortgage Rates, Fees & Info
PLYMOUTH, MILEI: 5493007XQ4LU452LQJ67
Tax ID: 38-1447620
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
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% | 4/5/25 |
| 30 Year Conventional Purchase | 7.02% | 4/5/25 |
| 30 Year Conventional Refi | 6.97% | 4/5/25 |
| 30 Year Cash-out Refi | 6.83% | 4/5/25 |
| 30 Year FHA Purchase | 6.72% | 4/5/25 |
| 30 Year VA Purchase | 6.72% | 4/5/25 |
| 30 Year USDA Purchase | 6.72% | 4/5/25 |
| 15 Year Conventional Purchase | 6.26% | 4/5/25 |
| 15 Year Conventional Refi | 6.39% | 4/5/25 |
| 15 Year Cash-out Refi | 6.39% | 4/5/25 |
| 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
1,070Origination Dollar Volume (All Markets)
$130,280,000Awards
COMMUNITY FINANCIAL CREDIT UNION - 2024
COMMUNITY FINANCIAL CREDIT UNION is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
Work for COMMUNITY FINANCIAL CREDIT UNION?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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% |
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.
Similarity Rank: 45
Similarity Rank: 90
Similarity Rank: 100
Similarity Rank: 120
Similarity Rank: 405
Similarity Rank: 432
Similarity Rank: 506
Similarity Rank: 668
Similarity Rank: 736
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications86.14%
Community Financial Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination79.81%
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 |