West Community Mortgage Rates, Fees & Info
O Fallon, MOLEI: 549300CCELEPUO4TOE73
Tax ID: 43-0603999
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 7.00% | 11/21/24 |
| 30 Year Conventional Purchase | 6.24% | 11/21/24 |
| 30 Year Conventional Refi | 6.22% | 11/21/24 |
| 30 Year FHA Purchase | 0.69% | 11/21/24 |
| 30 Year VA Purchase | 6.27% | 11/21/24 |
| 30 Year USDA Purchase | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 6.14% | 11/21/24 |
| 15 Year Conventional Refi | 6.35% | 11/21/24 |
| 15 Year Cash-out Refi | 6.35% | 11/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
589Origination Dollar Volume (All Markets)
$69,205,000Awards
WEST COMMUNITY - 2023
WEST COMMUNITY is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
Similarity Rank: 96
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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
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
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
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
2023 saw West Community place emphasis on $100,000 or less loans with 347 originations, totaling $18,485,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications84.17%
West Community has a below average approval rate.
Pick Rate
Approvals leading to origination77.42%
West Community has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 589 | $69,205,000 | $117,496 |