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 Home Improvement, Refi, Home Purchase, and Cash Out Refi loans. West Community has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Columbia, Kansas City, and Mexico among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)West Community 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. 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 7.00% | 4/21/24 |
| 30 Year Conventional Purchase | 6.24% | 4/21/24 |
| 30 Year Conventional Refi | 6.22% | 4/21/24 |
| 30 Year FHA Purchase | 0.69% | 4/21/24 |
| 30 Year VA Purchase | 6.27% | 4/21/24 |
| 30 Year USDA Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 6.14% | 4/21/24 |
| 15 Year Conventional Refi | 6.35% | 4/21/24 |
| 15 Year Cash-out Refi | 6.35% | 4/21/24 |
| 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
538Origination Dollar Volume (All Markets)
$55,220,000Awards
WEST COMMUNITY - 2019
WEST COMMUNITY is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 498 | $49,610,000 | $99,618 | $2,266 | 0.92% |
| COLUMBIA, MO (FHA|USDA|VA) | 34 | $4,810,000 | $141,471 | $2,054 | 2.84% |
| Outside of Metro Areas | 4 | $400,000 | $100,000 | $2,170 | 3.04% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,389 | 3.75% |
| Mexico, MO (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,338 | 3.63% |
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: 235
Similarity Rank: 255
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Similarity Rank: 302
Similarity Rank: 396
Similarity Rank: 442
Similarity Rank: 450
Similarity Rank: 490
Similarity Rank: 513
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 392 | $25,560,000 | $65,204 | n/a | 0.06% |
| Conventional | 146 | $29,660,000 | $203,151 | $2,232 | 3.78% |
For 2019, West Community's most frequently originated type of loan was HELOC, with 392 originations. Their 2nd most popular type was Conventional, with 146 originations.
Loan Reason
For 2019, West Community's most frequently cited loan purpose was Home Improvement, with 312 originations. The 2nd most popular reason was Refi, with 106 originations.
Loan Duration/Length
For 2019, West Community's most frequently cited loan duration was 20 Year, with 267 originations. The 2nd most popular length was 15 Year, with 148 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 141 | $28,795,000 | $204,220 |
| $<1k | 4 | $740,000 | $185,000 |
| $2k-3k | 1 | $125,000 | $125,000 |
West Community's average total fees were $2,263, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 141 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 392 | $25,560,000 | $65,204 |
| 3-4% | 106 | $21,820,000 | $205,849 |
| 4-5% | 32 | $6,110,000 | $190,938 |
| 2.5-3% | 7 | $1,595,000 | $227,857 |
| 5-6% | 1 | $135,000 | $135,000 |
During 2019, West Community's average interest rate for loans was 3.87%, while their most frequently originated rate bucket for loans was <2.5%, with 392 originations.
Loan Sizing
2019 saw West Community place emphasis on $100,000 or less loans with 346 originations, totaling $16,660,000 in origination value.
Applicant Income
West Community lent most frequently to those with incomes in the $50k-75k range, with 126 originations. The second most popular income band? $50k or less, with 116 originations.
Applicant Debt to Income Ratio
West Community lent most frequently to those with DTI ratios of <20%, with 414 originations. The next most common DTI ratio? 20-30%, with 45 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.81%
West Community has an average approval rate.
Pick Rate
Approvals leading to origination74.54%
West Community has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 538 | $55,220,000 | $102,639 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 538 | $55,220,000 | $102,639 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| West Coast Servicing, Inc. | Conventional home mortgage | Struggling to pay mortgage | 1 | 20.0% |
| West Coast Servicing, Inc. | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 3 | 60.0% |
| West Coast Servicing, Inc. | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 20.0% |