Community Mortgage Funding Rates, Fees & Info
Sacramento, CALEI: 549300SWHFQY2F7RN335
Tax ID: 95-4769926
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
365Origination Dollar Volume (All Markets)
$106,755,000Awards
COMMUNITY MORTGAGE FUNDING - 2021
COMMUNITY MORTGAGE FUNDING is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications88.24%
Community Mortgage Funding has an average approval rate.
Pick Rate
Approvals leading to origination63.36%
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% |
