Community Financial Credit Union Mortgage Rates, Fees & Info

PLYMOUTH, MI

LEI: 5493007XQ4LU452LQJ67

Tax ID: 38-1447620

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Refi and Cash Out Refi loans. Community Financial Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Detroit, Ann Arbor, Monroe, Jackson, and Adrian among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Community Financial 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. 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.42% 12/16/24
    30 Year Conventional Purchase 6.74% 12/16/24
    30 Year Conventional Refi 6.92% 12/16/24
    30 Year Cash-out Refi 6.90% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    30 Year USDA Purchase 7.18% 12/16/24
    15 Year Conventional Purchase 6.49% 12/16/24
    15 Year Conventional Refi 6.23% 12/16/24
    15 Year Cash-out Refi 6.23% 12/16/24
    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.

    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

    2,360

    Origination Dollar Volume (All Markets)

    $361,260,000
    Show all (6) awards

    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) 1,761 $287,465,000 $163,240 $2,484 3.28%
    Outside of Metro Areas 382 $37,880,000 $99,162 $2,444 3.59%
    ANN ARBOR, MI (FHA|USDA|VA) 118 $21,300,000 $180,508 $2,450 3.18%
    MONROE, MI (FHA|USDA|VA) 13 $1,925,000 $148,077 $2,461 3.53%
    JACKSON, MI (FHA|USDA|VA) 7 $1,775,000 $253,571 $2,750 3.13%
    Adrian, MI (FHA|USDA|VA) 10 $1,630,000 $163,000 $2,248 3.25%
    Traverse City, MI (FHA|USDA|VA) 8 $1,600,000 $200,000 $2,469 3.25%
    Alpena, MI (FHA|USDA|VA) 14 $1,340,000 $95,714 $2,836 3.98%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 8 $1,230,000 $153,750 $2,501 3.78%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 8 $1,160,000 $145,000 $2,488 3.53%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 4 $1,030,000 $257,500 $2,585 2.81%
    FLINT, MI (FHA|USDA|VA) 7 $685,000 $97,857 $2,996 3.82%
    Hillsdale, MI (FHA|USDA|VA) 3 $335,000 $111,667 $2,174 3.92%
    SAGINAW, MI (FHA|USDA|VA) 2 $290,000 $145,000 $2,450 2.88%
    Ludington, MI (FHA|USDA|VA) 2 $240,000 $120,000 $0 4.25%
    MUSKEGON, MI (FHA|USDA|VA) 2 $240,000 $120,000 $2,861 3.38%
    Big Rapids, MI (FHA|USDA|VA) 3 $215,000 $71,667 $2,411 3.88%
    Holland, MI (FHA|USDA|VA) 1 $205,000 $205,000 $1,950 2.75%
    MIDLAND, MI (FHA|USDA|VA) 2 $190,000 $95,000 $2,197 3.63%
    Marquette, MI (FHA|USDA|VA) 1 $175,000 $175,000 $2,301 3.13%
    BATTLE CREEK, MI (FHA|USDA|VA) 1 $125,000 $125,000 $2,169 3.13%
    Sault Ste. Marie, MI (FHA|USDA|VA) 1 $95,000 $95,000 $2,291 3.00%
    Alma, MI (FHA|USDA|VA) 1 $75,000 $75,000 $3,412 3.50%
    NILES, MI (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.50%
    Community Financial Credit Union's top markets include Detroit, Ann Arbor, Monroe, Jackson, and Adrian among others.

    Their top states include:
  • Michigan (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.

    ADVANTAGE ONE Credit Union
    Similarity Rank: 287
    SECURITY CREDIT UNION
    Similarity Rank: 387
    St James Mortgage Corporation
    Similarity Rank: 408
    Polish-American Federal Credit Union
    Similarity Rank: 434
    BIRMINGHAM-BLOOMFIELD Credit Union
    Similarity Rank: 472
    T&I Credit union
    Similarity Rank: 660
    Preston Home Loans Inc
    Similarity Rank: 736
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 1280
    Extra
    Similarity Rank: 1386
    Isabella Bank
    Similarity Rank: 1792

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,296 $245,370,000 $189,329 $2,454 3.32%
    HELOC 1,039 $113,115,000 $108,869 n/a 3.35%
    USDA 25 $2,775,000 $111,000 $3,645 3.52%

    For 2020, Community Financial Credit Union's most frequently originated type of loan was Conventional, with 1,296 originations. Their 2nd most popular type was HELOC, with 1,039 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 735 $143,305,000 $194,973 $2,342 3.00%
    Home Improvement 487 $39,865,000 $81,858 $2,655 3.68%
    Cash Out Refi 456 $78,500,000 $172,149 $2,416 3.24%
    Home Purchase 375 $70,165,000 $187,107 $2,760 3.24%
    Other 301 $28,765,000 $95,565 $0 3.85%
    NA 6 $660,000 $110,000 $0 3.17%

    For 2020, Community Financial Credit Union's most frequently cited loan purpose was Refi, with 735 originations. The 2nd most popular reason was Home Improvement, with 487 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 1,177 $131,135,000 $111,415 $1,952 3.38%
    30 Year 695 $146,405,000 $210,655 $2,657 3.28%
    15 Year 329 $62,905,000 $191,201 $2,295 2.85%
    20 Year 100 $16,190,000 $161,900 $2,389 3.64%
    Other 32 $3,350,000 $104,688 $2,549 5.19%
    5 Year 23 $675,000 $29,348 $0 5.50%
    3 Year 2 $220,000 $110,000 $0 5.69%
    30+ year 2 $380,000 $190,000 $0 3.63%

    For 2020, Community Financial Credit Union's most frequently cited loan duration was 10 Year, with 1,177 originations. The 2nd most popular length was 30 Year, with 695 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 987 $184,925,000 $187,361
    $1k-2k 176 $42,100,000 $239,205
    $2k-3k 43 $11,165,000 $259,651
    $3k-4k 7 $2,395,000 $342,143
    $5k+ 4 $2,090,000 $522,500

    Community Financial Credit Union's average total fees were $2,657, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 987 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 757 $119,715,000 $158,144
    2.5-3% 628 $121,730,000 $193,838
    <2.5% 597 $93,275,000 $156,240
    4-5% 174 $14,790,000 $85,000
    5-6% 109 $7,065,000 $64,817
    6-7% 44 $2,290,000 $52,045
    7-8% 32 $1,420,000 $44,375
    Over 8% 12 $460,000 $38,333

    During 2020, Community Financial Credit Union's average interest rate for loans was 3.28%, while their most frequently originated rate bucket for loans was 3-4%, with 757 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 869 $47,715,000 $54,908 $2,091 3.97%
    $100k-200k 837 $118,045,000 $141,033 $2,318 3.02%
    $200k-400k 569 $151,015,000 $265,404 $2,687 2.90%
    $400k-600k 68 $32,110,000 $472,206 $3,342 2.91%
    $600k-1MM 16 $11,370,000 $710,625 $4,413 2.80%
    $1MM+ 1 $1,005,000 $1,005,000 $0 2.00%

    2020 saw Community Financial Credit Union place emphasis on $100,000 or less loans with 869 originations, totaling $47,715,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 611 $99,145,000 $162,267 $2,487 3.25%
    $50k-75k 467 $53,445,000 $114,443 $2,361 3.44%
    $75k-100k 410 $57,200,000 $139,512 $2,407 3.40%
    $150k-250k 400 $80,750,000 $201,875 $2,636 3.18%
    $50k or less 324 $30,290,000 $93,488 $2,368 3.62%
    $250k+ 131 $36,735,000 $280,420 $3,037 2.94%

    Community Financial Credit Union lent most frequently to those with incomes in the $100k-150k range, with 611 originations. The second most popular income band? $50k-75k, with 467 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 681 $111,155,000 $163,223 $2,501 3.14%
    30-36% 463 $69,035,000 $149,104 $2,495 3.39%
    <20% 334 $55,390,000 $165,838 $2,395 2.96%
    50-60% 106 $11,060,000 $104,340 $2,379 3.84%
    39% 79 $11,315,000 $143,228 $2,437 3.48%
    41% 72 $10,850,000 $150,694 $2,500 3.50%
    37% 70 $11,370,000 $162,429 $2,415 3.33%
    38% 66 $10,980,000 $166,364 $2,494 3.20%
    40% 66 $11,240,000 $170,303 $2,687 3.69%
    36% 66 $8,480,000 $128,485 $2,573 3.36%
    >60% 64 $9,830,000 $153,594 $2,287 3.78%
    42% 58 $8,790,000 $151,552 $2,528 3.77%
    44% 41 $5,675,000 $138,415 $2,789 3.94%
    43% 41 $4,595,000 $112,073 $2,316 3.82%
    45% 33 $3,875,000 $117,424 $2,250 3.47%
    47% 31 $3,845,000 $124,032 $2,426 3.66%
    46% 31 $3,775,000 $121,774 $2,613 3.68%
    49% 30 $6,070,000 $202,333 $2,357 3.31%
    48% 24 $2,650,000 $110,417 $2,374 3.89%

    Community Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 681 originations. The next most common DTI ratio? 30-36%, with 463 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,038 $299,920,000 $147,164 $2,457 3.37%
    Not provided 163 $32,025,000 $196,472 $2,604 3.05%
    Asian Indian 42 $8,370,000 $199,286 $2,850 2.83%
    Asian 34 $7,430,000 $218,529 $2,450 2.79%
    Black 43 $6,115,000 $142,209 $2,598 3.66%
    Other Asian 15 $2,865,000 $191,000 $2,801 2.87%
    Not applicable 4 $1,280,000 $320,000 $0 4.10%
    Chinese 6 $1,190,000 $198,333 $0 2.67%
    American Indian 7 $1,125,000 $160,714 $2,185 3.36%
    Filipino 2 $370,000 $185,000 $2,259 2.94%
    Native Hawaiian or Islander 2 $240,000 $120,000 $2,290 3.44%
    Other Pacific Islander 1 $155,000 $155,000 $0 2.25%
    Korean 1 $75,000 $75,000 $0 3.00%
    Japanese 1 $55,000 $55,000 $0 2.50%
    Samoan 1 $45,000 $45,000 $0 3.00%

    Approval Rates

    Total approvals of all applications
    92.40%

    Community Financial Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.30%

    Community Financial Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,360 $361,260,000 $153,076

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 36 $2,230,000 $61,944
    Single Family (1-4 Units):Site-Built 2,324 $359,030,000 $154,488

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 514 $51,780,000 $100,739 $2,049 3.42%
    40-60% 490 $83,430,000 $170,265 $2,205 3.04%
    60-80% 649 $143,785,000 $221,549 $2,603 3.06%
    80-100% 325 $65,255,000 $200,785 $2,710 3.25%
    Under 20% 382 $17,010,000 $44,529 $1,621 4.13%

    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%