Comtrust Federal Credit Union Mortgage Rates, Fees & Info
Chattanooga, TNLEI: 549300LPUM7IN7IW1J32
Tax ID: 62-0459289
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Mortgage Data
Review & Overview
Comtrust Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Comtrust Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Chattanooga, Hartford, Worcester, Dalton, and Calhoun among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Comtrust Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Comtrust Federal 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 | 6.27% | 3/25/24 |
| 30 Year Conventional Refi | 6.27% | 3/25/24 |
| 30 Year Cash-out Refi | 8.13% | 3/25/24 |
| 15 Year Conventional Purchase | 4.81% | 3/25/24 |
| 15 Year Conventional Refi | 8.80% | 3/25/24 |
| 15 Year Cash-out Refi | 8.80% | 3/25/24 |
| 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. | ||
Comtrust Federal Credit Union Mortgage Calculator
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This is not an official calculator from Comtrust Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
106Origination Dollar Volume (All Markets)
$11,710,000Relative Rate
Comtrust Federal Credit Union's average 30 year fixed mortgage rate was
4.09%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.67%.
Relative Fees (Closing Costs)
Comtrust Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,176.
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 $4,750.
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 |
|---|---|---|---|---|---|
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 53 | $4,865,000 | $91,792 | $3,139 | 4.22% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 33 | $3,675,000 | $111,364 | $1,839 | 4.49% |
| Outside of Metro Areas | 4 | $1,530,000 | $382,500 | $9,765 | 3.74% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $3,935 | 3.62% |
| DALTON, GA (FHA|USDA|VA) | 7 | $495,000 | $70,714 | $1,205 | 4.03% |
| Calhoun, GA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,643 | 3.25% |
| CLEVELAND, TN (FHA|USDA|VA) | 3 | $175,000 | $58,333 | $0 | 4.32% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $599 | 3.99% |
| Torrington, CT (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $599 | 4.99% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $599 | 3.99% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 71 | $9,755,000 | $137,394 | $2,549 | 4.25% |
| HELOC | 35 | $1,955,000 | $55,857 | n/a | 4.29% |
For 2022, Comtrust Federal Credit Union's most frequently originated type of loan was Conventional, with 71 originations. Their 2nd most popular type was HELOC, with 35 originations.
Loan Reason
For 2022, Comtrust Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 49 originations. The 2nd most popular reason was Other, with 35 originations.
Loan Duration/Length
For 2022, Comtrust Federal Credit Union's most frequently cited loan duration was 10 Year, with 59 originations. The 2nd most popular length was 30 Year, with 19 originations.
Origination Fees/Closing Costs
Comtrust Federal Credit Union's average total fees were $5,176, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 32 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 50 | $5,060,000 | $101,200 |
| 4-5% | 35 | $3,105,000 | $88,714 |
| 5-6% | 13 | $1,295,000 | $99,615 |
| 2.5-3% | 8 | $2,250,000 | $281,250 |
During 2022, Comtrust Federal Credit Union's average interest rate for loans was 4.09%, while their most frequently originated rate bucket for loans was 3-4%, with 50 originations.
Loan Sizing
2022 saw Comtrust Federal Credit Union place emphasis on $100,000 or less loans with 74 originations, totaling $4,260,000 in origination value.
Applicant Income
Comtrust Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 29 originations. The second most popular income band? $100k-150k, with 22 originations.
Applicant Debt to Income Ratio
Comtrust Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? <20%, with 31 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.43%
Comtrust Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination96.23%
Comtrust Federal 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 |
|---|---|---|---|
| 0.0 | 27 | $1,475,000 | $54,630 |
| 1000.0 | 1 | $25,000 | $25,000 |
| 2415.0 | 1 | $75,000 | $75,000 |
| 599.0 | 6 | $380,000 | $63,333 |
| NA | 71 | $9,755,000 | $137,394 |