Cedar Falls Community Credit Union Mortgage Rates, Fees & Info

Cedar Falls, IA

LEI: 549300EHZKNMEE6UUC83

Tax ID: 42-0817536

5 stars - Updated: 11/17/24 - out of 5 stars, based on 12 reviews

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

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Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Cedar Falls Community Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Cedar Falls Community Credit Union has a high proportion of conventional loans. Cedar Falls Community Credit Union has a low ratio of conventional loans. Their top markets by origination volume include: Waterloo, Des Moines, Portland, Okeechobee, and Tampa 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 above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Cedar Falls Community 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 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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    Originations

    148

    Origination Dollar Volume (All Markets)

    $13,150,000

    Awards

    CEDAR FALLS COMMUNITY CREDIT UNION 30 Year Conventional Loans gold
    Show all (1) awards

    Relative Rate

    Cedar Falls Community Credit Union's average 30 year fixed mortgage rate was 5.94%.

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

    This yields a difference of -0.54%.

    Relative Fees (Closing Costs)

    Cedar Falls Community Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,326.

    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
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 94 $8,280,000 $88,085 $1,191 6.76%
    Outside of Metro Areas 42 $2,760,000 $65,714 $851 7.30%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 6 $1,470,000 $245,000 $3,244 5.94%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $425,000 $425,000 $4,768 5.50%
    Okeechobee, FL (FHA|USDA|VA) 1 $65,000 $65,000 $7,171 5.88%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $65,000 $65,000 $3,706 5.75%
    Mason City, IA (FHA|USDA|VA) 1 $35,000 $35,000 $228 7.24%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.64%
    DUBUQUE, IA (FHA|USDA|VA) 1 $15,000 $15,000 $228 6.40%
    Cedar Falls Community Credit Union's top markets include Waterloo, Des Moines, Portland, Okeechobee, and Tampa among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 145 $12,895,000 $88,931 $1,257 6.84%
    HELOC 2 $80,000 $40,000 n/a 8.13%
    Conventional 1 $175,000 $175,000 $3,065 6.25%

    For 2023, Cedar Falls Community Credit Union's most frequently originated type of loan was Conventional, with 145 originations. Their 2nd most popular type was HELOC, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 42 $6,040,000 $143,810 $3,641 6.18%
    Other 39 $1,675,000 $42,949 $205 7.46%
    Refi 30 $2,920,000 $97,333 $728 6.60%
    Cash Out Refi 24 $1,860,000 $77,500 $634 7.02%
    Home Improvement 13 $655,000 $50,385 $200 7.54%

    For 2023, Cedar Falls Community Credit Union's most frequently cited loan purpose was Home Purchase, with 42 originations. The 2nd most popular reason was Other, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 73 $5,325,000 $72,945 $468 6.76%
    Other 19 $2,395,000 $126,053 $1,545 6.48%
    30 Year 16 $2,710,000 $169,375 $4,326 5.94%
    5 Year 16 $610,000 $38,125 $209 7.02%
    20 Year 13 $1,125,000 $86,538 $672 8.36%
    15 Year 11 $985,000 $89,545 $1,327 7.50%

    For 2023, Cedar Falls Community Credit Union's most frequently cited loan duration was 10 Year, with 73 originations. The 2nd most popular length was Other, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 35 $2,325,000 $66,429
    $1k-2k 16 $2,610,000 $163,125
    $2k-3k 7 $1,825,000 $260,714
    $4k-5k 1 $425,000 $425,000

    Cedar Falls Community Credit Union's average total fees were $4,326, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 35 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 55 $4,125,000 $75,000
    7-8% 45 $2,195,000 $48,778
    5-6% 34 $5,890,000 $173,235
    Over 8% 14 $940,000 $67,143

    During 2023, Cedar Falls Community Credit Union's average interest rate for loans was 5.94%, while their most frequently originated rate bucket for loans was 6-7%, with 55 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 103 $4,735,000 $45,971 $624 7.10%
    $100k-200k 32 $4,670,000 $145,938 $2,356 6.49%
    $200k-400k 11 $2,865,000 $260,455 $3,172 5.84%
    $400k-600k 2 $880,000 $440,000 $6,509 5.69%

    2023 saw Cedar Falls Community Credit Union place emphasis on $100,000 or less loans with 103 originations, totaling $4,735,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 34 $2,280,000 $67,059 $810 7.01%
    $75k-100k 32 $3,220,000 $100,625 $1,508 6.58%
    $50k or less 31 $1,735,000 $55,968 $1,290 7.11%
    $100k-150k 26 $2,350,000 $90,385 $1,421 7.09%
    $150k-250k 7 $1,195,000 $170,714 $889 6.32%
    $250k+ 6 $970,000 $161,667 $3,786 6.67%

    Cedar Falls Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 34 originations. The second most popular income band? $75k-100k, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 45 $3,715,000 $82,556 $1,225 6.87%
    30-36% 26 $2,470,000 $95,000 $1,401 6.88%
    <20% 26 $2,630,000 $101,154 $1,649 6.54%
    40% 6 $490,000 $81,667 $227 7.20%
    37% 6 $480,000 $80,000 $2,480 6.42%
    36% 5 $245,000 $49,000 $228 7.65%
    44% 5 $635,000 $127,000 $1,503 7.11%
    41% 4 $210,000 $52,500 $1,964 6.92%
    38% 4 $100,000 $25,000 $171 7.90%
    46% 2 $130,000 $65,000 $228 8.12%
    47% 2 $200,000 $100,000 $2,700 6.20%
    42% 1 $35,000 $35,000 $228 9.10%
    45% 1 $25,000 $25,000 $228 7.05%
    49% 1 $185,000 $185,000 $228 8.20%
    Exempt% 1 $115,000 $115,000 $0 5.64%

    Cedar Falls Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 26 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 134 $11,120,000 $82,985 $1,228 6.89%
    Not applicable 11 $1,345,000 $122,273 $0 6.37%
    Black 2 $500,000 $250,000 $4,239 6.66%
    Asian 1 $185,000 $185,000 $228 8.20%

    Approval Rates

    Total approvals of all applications
    97.40%

    Cedar Falls Community Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    98.65%

    Cedar Falls Community Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 1 $115,000 $115,000
    NA 147 $13,035,000 $88,673

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    148 $13,150,000 $88,851

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $1,700,000 $53,125 $613 7.40%
    40-60% 24 $2,620,000 $109,167 $1,048 6.83%
    60-80% 35 $4,645,000 $132,714 $2,383 6.29%
    80-100% 13 $2,585,000 $198,846 $4,362 6.33%
    Over 100% 2 $290,000 $145,000 $0 6.56%
    Under 20% 37 $925,000 $25,000 $179 7.16%