Community Mortgage Funding Rates, Fees & Info

Sacramento, CA

LEI: 549300SWHFQY2F7RN335

Tax ID: 95-4769926

5 stars - out of 5 stars, based on 19 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Community Mortgage Funding is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Community Mortgage Funding 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.) They have a low ratio of USDA loans. Their top markets include Los Angeles, Riverside, El Centro, Las Vegas, and Phoenix among others. Community Mortgage Funding has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Community Mortgage Funding is typically an average fee lendor.


Originations

365

Origination Dollar Volume (All Markets)

$106,755,000

Awards

COMMUNITY MORTGAGE FUNDING  30 Year Conventional Loans silver COMMUNITY MORTGAGE FUNDING  30 Year Conventional Loans silver COMMUNITY MORTGAGE FUNDING  30 Year Conventional Loans silver
Show all (3) awards

Relative Rate

Community Mortgage Funding 's average 30 year fixed rate mortgage of loans were 3.11%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.04%.

Relative Fees

Community Mortgage Funding 's average total fees for a 30 year fixed rate mortgage are $3,827.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 98 $32,720,000 $333,878 $3,953 2.96%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 105 $31,625,000 $301,190 $3,774 3.00%
EL CENTRO, CA (FHA|USDA|VA) 34 $5,900,000 $173,529 $3,693 2.88%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 18 $4,010,000 $222,778 $3,101 3.06%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 9 $3,145,000 $349,444 $3,159 3.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 7 $2,835,000 $405,000 $2,988 3.05%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 6 $2,500,000 $416,667 $4,479 3.10%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 8 $1,470,000 $183,750 $3,661 2.88%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 4 $1,270,000 $317,500 $4,404 3.34%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 3 $1,265,000 $421,667 $3,930 2.63%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $1,250,000 $625,000 $5,193 3.25%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $1,160,000 $580,000 $4,924 3.19%
KANSAS CITY, MO-KS (FHA|USDA|VA) 4 $1,130,000 $282,500 $3,010 3.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 4 $1,000,000 $250,000 $2,995 2.78%
VISALIA, CA (FHA|USDA|VA) 3 $865,000 $288,333 $4,689 3.04%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $800,000 $400,000 $2,895 3.06%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $775,000 $258,333 $3,426 2.63%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $745,000 $248,333 $3,557 2.71%
FRESNO, CA (FHA|USDA|VA) 3 $745,000 $248,333 $3,144 2.92%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $710,000 $355,000 $2,767 2.81%
Outside of Metro Areas 3 $695,000 $231,667 $4,086 2.92%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 3 $685,000 $228,333 $3,102 3.25%
OKLAHOMA CITY, OK (FHA|USDA|VA) 4 $680,000 $170,000 $4,034 2.91%
TUCSON, AZ (FHA|USDA|VA) 2 $650,000 $325,000 $5,517 2.69%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $600,000 $300,000 $3,053 3.00%
Durango, CO (FHA|USDA|VA) 1 $545,000 $545,000 $5,469 2.88%
MODESTO, CA (FHA|USDA|VA) 2 $540,000 $270,000 $2,715 3.06%
MERCED, CA (FHA|USDA|VA) 2 $520,000 $260,000 $4,283 3.75%
BAKERSFIELD, CA (FHA|USDA|VA) 3 $505,000 $168,333 $4,299 2.79%
ROCHESTER, MN (FHA|USDA|VA) 1 $465,000 $465,000 $3,703 3.00%
GREELEY, CO (FHA|USDA|VA) 1 $405,000 $405,000 $3,234 3.13%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $385,000 $385,000 $3,630 2.75%
FORT COLLINS, CO (FHA|USDA|VA) 1 $355,000 $355,000 $3,134 3.25%
Gardnerville Ranchos, NV (FHA|USDA|VA) 1 $335,000 $335,000 $3,270 2.50%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $325,000 $325,000 $3,310 3.13%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $285,000 $285,000 $8,623 3.50%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $285,000 $285,000 $2,389 3.00%
SALINAS, CA (FHA|USDA|VA) 1 $285,000 $285,000 $3,174 2.63%
ODESSA, TX (FHA|USDA|VA) 1 $275,000 $275,000 $3,932 3.63%
Pahrump, NV (FHA|USDA|VA) 1 $255,000 $255,000 $3,097 3.25%
Moses Lake, WA (FHA|USDA|VA) 1 $245,000 $245,000 $3,178 3.25%
Klamath Falls, OR (FHA|USDA|VA) 1 $245,000 $245,000 $3,691 2.63%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $205,000 $205,000 $3,237 2.75%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $190,000 $95,000 $3,184 2.13%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $155,000 $155,000 $3,736 3.25%
EL PASO, TX (FHA|USDA|VA) 1 $155,000 $155,000 $3,467 3.00%
LUBBOCK, TX (FHA|USDA|VA) 1 $155,000 $155,000 $2,627 2.63%
REDDING, CA (FHA|USDA|VA) 1 $135,000 $135,000 $3,514 2.88%
BATTLE CREEK, MI (FHA|USDA|VA) 1 $105,000 $105,000 $2,962 3.00%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $105,000 $105,000 $3,367 3.13%
SAN ANGELO, TX (FHA|USDA|VA) 1 $65,000 $65,000 $2,676 3.13%

Community Mortgage Funding 's top markets include Los Angeles, Riverside, El Centro, Las Vegas, and Phoenix among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 358 $105,070,000 $293,492 $3,643 2.98%
FHA 6 $1,320,000 $220,000 $8,941 2.71%
USDA 1 $365,000 $365,000 $9,599 2.99%

For the 2021 period, Community Mortgage Funding 's most frequently originated loan type of loans were Conventional, with 358 originations. Their 2nd most popular type is FHA, with 6 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 190 $57,070,000 $300,368 $3,468 3.06%
Refi 117 $33,085,000 $282,778 $3,568 2.88%
Home Purchase 57 $16,445,000 $288,509 $5,038 2.89%
Other 1 $155,000 $155,000 $0 2.45%

For the 2021, Community Mortgage Funding 's most frequently cited loan purpose of loans were Cash Out Refi, with 190 originations. The 2nd most popular reason of loans were Refi, with 117 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 245 $77,795,000 $317,531 $3,827 3.11%
15 Year 75 $17,975,000 $239,667 $3,616 2.61%
20 Year 35 $9,345,000 $267,000 $3,644 2.86%
10 Year 8 $1,290,000 $161,250 $2,997 2.52%
Other 2 $350,000 $175,000 $0 2.88%

For the 2021, Community Mortgage Funding 's most frequently cited loan length of loans were 30 Year, with 245 originations. The 2nd most popular length of loans were 15 Year, with 75 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 296 $84,670,000 $286,047
$2k-3k 30 $8,960,000 $298,667
$3k-4k 17 $6,965,000 $409,706
$5k+ 13 $5,365,000 $412,692
$<1k 7 $445,000 $63,571

$3,827 of loans were Community Mortgage Funding 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 296 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 155 $51,365,000 $331,387
2.5-3% 147 $41,885,000 $284,932
<2.5% 56 $11,560,000 $206,429
4-5% 7 $1,945,000 $277,857

During 2021, Community Mortgage Funding 's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 3-4%, with 155 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 182 $53,820,000 $295,714 $3,789 3.03%
$100k-200k 80 $12,650,000 $158,125 $3,386 2.91%
$400k-600k 66 $31,050,000 $470,455 $4,156 3.13%
$100,000 or less 27 $1,695,000 $62,778 $2,590 2.25%
$600k-1MM 10 $7,540,000 $754,000 $6,227 3.20%

2021 saw Community Mortgage Funding place emphasis on $200k-400k loans with 182 originations, totaling $53,820,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 102 $32,970,000 $323,235 $3,710 3.10%
$75k-100k 85 $22,595,000 $265,824 $3,760 2.95%
$150k-250k 68 $23,180,000 $340,882 $3,932 2.91%
$50k-75k 60 $13,550,000 $225,833 $3,589 2.82%
$50k or less 35 $6,405,000 $183,000 $3,313 3.00%
$250k+ 15 $8,055,000 $537,000 $4,649 3.03%

Community Mortgage Funding lent most frequently to those with incomes in the $100k-150k range, with 102 originations. The second most popular income band? $75k-100k, with 85 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 74 $19,540,000 $264,054 $3,429 2.95%
30-36% 56 $16,060,000 $286,786 $3,817 3.00%
<20% 31 $5,915,000 $190,806 $3,184 2.62%
36% 22 $7,220,000 $328,182 $3,983 2.96%
42% 19 $7,555,000 $397,632 $4,177 3.11%
49% 18 $5,780,000 $321,111 $3,199 3.26%
37% 17 $5,845,000 $343,824 $4,466 2.82%
45% 17 $4,515,000 $265,588 $3,755 2.82%
43% 17 $5,465,000 $321,471 $3,785 3.13%
38% 14 $4,190,000 $299,286 $3,331 2.87%
44% 14 $4,220,000 $301,429 $3,440 3.16%
41% 13 $3,315,000 $255,000 $4,837 3.13%
47% 12 $3,510,000 $292,500 $3,647 3.14%
39% 10 $3,650,000 $365,000 $4,862 2.99%
46% 10 $4,120,000 $412,000 $3,778 3.09%
48% 9 $2,715,000 $301,667 $3,864 2.97%
40% 7 $1,935,000 $276,429 $3,457 2.93%
50-60% 4 $1,050,000 $262,500 $5,501 3.06%
>60% 1 $155,000 $155,000 $0 2.45%

Community Mortgage Funding lent most frequently to those with DTI ratios of 20-30%, with 74 originations. The next most common DTI ratio? 30-36%, with 56 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not provided 304 $88,950,000 $292,599 $3,678 2.97%
White 55 $15,975,000 $290,455 $4,176 2.96%
Black 4 $1,440,000 $360,000 $3,323 3.20%
American Indian 1 $245,000 $245,000 $3,691 2.63%
Asian 1 $145,000 $145,000 $2,871 2.50%

Approval Rates

Total approvals of all applications
88.24%

Community Mortgage Funding has an average approval rate.

Pick Rate

Approvals leading to origination
63.36%

Community Mortgage Funding has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 365 $106,755,000 $292,479

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
365 $106,755,000 $292,479

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 58 $10,600,000 $182,759 $3,392 2.84%
40-60% 106 $32,170,000 $303,491 $3,525 2.91%
60-80% 132 $43,130,000 $326,742 $3,557 3.10%
80-100% 54 $19,530,000 $361,667 $5,503 3.21%
Under 20% 15 $1,325,000 $88,333 $1,876 1.89%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
COMMUNITY MORTGAGE CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%