West Community Mortgage Rates, Fees & Info

O Fallon, MO

LEI: 549300CCELEPUO4TOE73

Tax ID: 43-0603999

5 stars - Updated: 12/6/24 - out of 5 stars, based on 24 reviews

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

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Mortgage Data

Review & Overview

West Community is a smaller mortgage company specializing in Other, Home Improvement, and Home Purchase loans. West Community has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: St. Louis, Columbia, Toccoa, Jefferson City, and Springfield among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

West Community 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. West Community 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 relatively high 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) 7.00% 12/6/24
30 Year Conventional Purchase 6.24% 12/6/24
30 Year Conventional Refi 6.22% 12/6/24
30 Year FHA Purchase 0.69% 12/6/24
30 Year VA Purchase 6.27% 12/6/24
30 Year USDA Purchase 6.27% 12/6/24
15 Year Conventional Purchase 6.14% 12/6/24
15 Year Conventional Refi 6.35% 12/6/24
15 Year Cash-out Refi 6.35% 12/6/24
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.

West Community Mortgage Calculator






Your Estimates

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

This is not an official calculator from West Community. 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

589

Origination Dollar Volume (All Markets)

$69,205,000

Awards

WEST COMMUNITY 30 Year Conventional Loans bronze WEST COMMUNITY 30 Year Conventional Loans silver WEST COMMUNITY 30 Year Conventional Loans bronze WEST COMMUNITY 30 Year Conventional Loans silver
Show all (4) awards

Relative Rate

West Community's average 30 year fixed mortgage rate was 6.45%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.03%.

Relative Fees (Closing Costs)

West Community's average total fees/closing costs for a 30 year fixed rate mortgage were $2,936.

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 $9,089.

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
ST. LOUIS, MO-IL (FHA|USDA|VA) 500 $52,700,000 $105,400 $2,122 9.34%
COLUMBIA, MO (FHA|USDA|VA) 73 $13,705,000 $187,740 $2,183 7.87%
Outside of Metro Areas 7 $1,295,000 $185,000 $2,868 7.05%
Toccoa, GA (FHA|USDA|VA) 1 $375,000 $375,000 $3,613 7.38%
JEFFERSON CITY, MO (FHA|USDA|VA) 2 $350,000 $175,000 $2,965 7.37%
SPRINGFIELD, MO (FHA|USDA|VA) 2 $340,000 $170,000 $3,391 9.50%
Mexico, MO (FHA|USDA|VA) 1 $155,000 $155,000 $2,223 6.00%
West Plains, MO (FHA|USDA|VA) 1 $145,000 $145,000 $2,997 6.75%
Moberly, MO (FHA|USDA|VA) 1 $85,000 $85,000 $2,403 7.13%
Farmington, MO (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.49%
West Community's top markets include St. Louis, Columbia, Toccoa, Jefferson City, and Springfield among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Similar Lenders

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

    MISSOURI Credit Union
    Similarity Rank: 144
    The Bank of Missouri
    Similarity Rank: 216
    1ST MIDAMERICA
    Similarity Rank: 286
    CNB Bank And Trust, N.A.
    Similarity Rank: 323
    FIRST COMMUNITY
    Similarity Rank: 336
    First National Bank of Waterloo
    Similarity Rank: 340
    United Bank of Union
    Similarity Rank: 360
    VANTAGE Credit Union
    Similarity Rank: 371
    Bank of Hillsboro
    Similarity Rank: 459

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 438 $39,570,000 $90,342 n/a 9.65%
    Conventional 150 $29,450,000 $196,333 $2,187 7.52%
    FHA 1 $185,000 $185,000 $4,952 6.63%

    For 2023, West Community's most frequently originated type of loan was HELOC, with 438 originations. Their 2nd most popular type was Conventional, with 150 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 214 $15,800,000 $73,832 $418 10.13%
    Home Improvement 207 $18,815,000 $90,894 $325 9.35%
    Home Purchase 121 $27,875,000 $230,372 $2,956 6.99%
    Refi 44 $6,110,000 $138,864 $2,281 8.96%
    Cash Out Refi 3 $605,000 $201,667 $2,380 6.83%

    For 2023, West Community's most frequently cited loan purpose was Other, with 214 originations. The 2nd most popular reason was Home Improvement, with 207 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 435 $39,465,000 $90,724 $2,151 9.66%
    30 Year 102 $26,130,000 $256,176 $2,936 6.45%
    10 Year 45 $2,655,000 $59,000 $395 10.03%
    15 Year 7 $955,000 $136,429 $3,369 7.26%

    For 2023, West Community's most frequently cited loan duration was 20 Year, with 435 originations. The 2nd most popular length was 30 Year, with 102 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 96 $24,000,000 $250,000
    $<1k 44 $3,110,000 $70,682
    $2k-3k 4 $770,000 $192,500
    $3k-4k 2 $810,000 $405,000
    $4k-5k 1 $595,000 $595,000

    West Community's average total fees were $2,936, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 96 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 431 $37,105,000 $86,090
    6-7% 91 $17,815,000 $195,769
    7-8% 38 $5,380,000 $141,579
    5-6% 29 $8,905,000 $307,069

    During 2023, West Community's average interest rate for loans was 6.45%, while their most frequently originated rate bucket for loans was Over 8%, with 431 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 347 $18,485,000 $53,271 $666 9.91%
    $100k-200k 139 $19,005,000 $136,727 $2,674 8.45%
    $200k-400k 82 $21,210,000 $258,659 $2,848 7.42%
    $400k-600k 17 $7,845,000 $461,471 $3,161 6.62%
    $600k-1MM 4 $2,660,000 $665,000 $3,811 7.42%

    2023 saw West Community place emphasis on $100,000 or less loans with 347 originations, totaling $18,485,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 165 $17,195,000 $104,212 $2,099 9.31%
    $150k-250k 150 $19,250,000 $128,333 $2,282 9.12%
    $250k+ 92 $15,490,000 $168,370 $1,987 8.99%
    $75k-100k 86 $8,920,000 $103,721 $2,092 9.00%
    $50k-75k 74 $6,520,000 $88,108 $2,274 8.89%
    $50k or less 22 $1,830,000 $83,182 $3,073 9.12%

    West Community lent most frequently to those with incomes in the $100k-150k range, with 165 originations. The second most popular income band? $150k-250k, with 150 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 149 $18,245,000 $122,450 $2,267 8.93%
    30-36% 105 $13,105,000 $124,810 $2,082 9.11%
    <20% 66 $6,700,000 $101,515 $2,003 8.77%
    44% 23 $2,365,000 $102,826 $2,784 9.62%
    39% 23 $2,265,000 $98,478 $1,604 9.54%
    45% 23 $4,265,000 $185,435 $2,485 8.62%
    36% 22 $2,420,000 $110,000 $3,134 8.76%
    38% 22 $1,910,000 $86,818 $1,826 10.04%
    40% 20 $2,070,000 $103,500 $2,029 9.49%
    37% 19 $2,025,000 $106,579 $2,105 9.24%
    41% 18 $2,000,000 $111,111 $1,701 9.24%
    46% 17 $1,755,000 $103,235 $1,684 10.09%
    43% 16 $2,060,000 $128,750 $2,711 8.52%
    48% 15 $2,055,000 $137,000 $2,728 9.24%
    42% 14 $1,610,000 $115,000 $2,217 9.41%
    50-60% 13 $1,405,000 $108,077 $4,952 10.01%
    47% 11 $1,165,000 $105,909 $2,345 8.78%
    49% 8 $1,120,000 $140,000 $2,813 7.94%
    >60% 5 $665,000 $133,000 $0 8.99%

    West Community lent most frequently to those with DTI ratios of 20-30%, with 149 originations. The next most common DTI ratio? 30-36%, with 105 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 507 $59,805,000 $117,959 $2,245 9.08%
    Black 45 $5,025,000 $111,667 $2,059 9.34%
    Asian 9 $1,995,000 $221,667 $2,696 7.56%
    Not provided 20 $1,840,000 $92,000 $1,426 9.65%
    American Indian 4 $240,000 $60,000 $2,270 10.29%
    Native Hawaiian or Islander 2 $170,000 $85,000 $0 8.64%
    Asian Indian 1 $75,000 $75,000 $250 10.65%
    Japanese 1 $55,000 $55,000 $0 9.49%

    Approval Rates

    Total approvals of all applications
    84.17%

    West Community has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    77.42%

    West Community has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 589 $69,205,000 $117,496

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    589 $69,205,000 $117,496

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 181 $20,175,000 $111,464 $953 9.54%
    40-60% 31 $5,765,000 $185,968 $2,753 7.98%
    60-80% 41 $9,995,000 $243,780 $3,231 7.48%
    80-100% 70 $17,890,000 $255,571 $2,859 6.57%
    Under 20% 266 $15,380,000 $57,820 $359 9.86%