Cedar Falls Community Credit Union Mortgage Rates, Fees & Info
Cedar Falls, IALEI: 549300EHZKNMEE6UUC83
Tax ID: 42-0817536
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Mortgage Data
Review & Overview
Cedar Falls Community Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Cedar Falls Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Waterloo, Cape Coral, The Villages, Des Moines, and Mason City among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Cedar Falls Community Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Cedar Falls Community Credit Union is typically an average 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.72% | 4/5/25 |
| 30 Year Conventional Refi | 6.72% | 4/5/25 |
| 30 Year Cash-out Refi | 6.72% | 4/5/25 |
| 15 Year Conventional Refi | 6.00% | 4/5/25 |
| 15 Year Cash-out Refi | 6.00% | 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. | ||
Cedar Falls Community Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
258Origination Dollar Volume (All Markets)
$31,160,000Awards
CEDAR FALLS COMMUNITY CREDIT UNION - 2024
CEDAR FALLS COMMUNITY CREDIT UNION is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Cedar Falls Community Credit Union's average 30 year fixed mortgage rate was
6.31%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.24%.
Relative Fees (Closing Costs)
Cedar Falls Community Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $9,029.
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 |
|---|---|---|---|---|---|
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 205 | $21,425,000 | $104,512 | $1,550 | 6.53% |
| Outside of Metro Areas | 41 | $4,955,000 | $120,854 | $1,950 | 6.63% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $3,370,000 | $1,685,000 | $39,553 | 6.38% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $8,198 | 5.63% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $2,252 | 5.28% |
| Mason City, IA (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $1,408 | 5.83% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,866 | 6.00% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 6.63% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 7.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against CEDAR FALLS COMMUNITY CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 257 | $31,105,000 | $121,031 | $2,140 | 6.52% |
| HELOC | 1 | $55,000 | $55,000 | n/a | 8.00% |
For 2024, Cedar Falls Community Credit Union's most frequently originated type of loan was Conventional, with 257 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2024, Cedar Falls Community Credit Union's most frequently cited loan purpose was Refi, with 73 originations. The 2nd most popular reason was Home Purchase, with 60 originations.
Loan Duration/Length
For 2024, Cedar Falls Community Credit Union's most frequently cited loan duration was 10 Year, with 124 originations. The 2nd most popular length was Other, with 70 originations.
Origination Fees/Closing Costs
Cedar Falls Community Credit Union's average total fees were $9,029, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 62 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 107 | $10,265,000 | $95,935 |
| 6-7% | 103 | $15,295,000 | $148,495 |
| 7-8% | 29 | $3,565,000 | $122,931 |
| Over 8% | 15 | $1,225,000 | $81,667 |
During 2024, Cedar Falls Community Credit Union's average interest rate for loans was 6.31%, while their most frequently originated rate bucket for loans was 5-6%, with 107 originations.
Loan Sizing
2024 saw Cedar Falls Community Credit Union place emphasis on $100,000 or less loans with 156 originations, totaling $7,540,000 in origination value.
Applicant Income
Cedar Falls Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 64 originations. The second most popular income band? $100k-150k, with 56 originations.
Applicant Debt to Income Ratio
Cedar Falls Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 65 originations. The next most common DTI ratio? <20%, with 47 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.52%
Cedar Falls Community Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination91.47%
Cedar Falls Community Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 2 | $270,000 | $135,000 |
| NA | 256 | $30,890,000 | $120,664 |