Community Mortgage Funding Rates, Fees & Info

Sacramento, CA

LEI: 549300SWHFQY2F7RN335

Tax ID: 95-4769926

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

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

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Mortgage Data

  • SimulatedRates™
  • Review & 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 by origination volume include: Los Angeles, Riverside, El Centro, Las Vegas, and Phoenix among others. We have data for 51 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Community Mortgage Funding has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Community Mortgage Funding 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.86% 12/4/22
    30 Year Conventional Refi 6.89% 12/4/22
    30 Year Cash-out Refi 7.06% 12/4/22
    30 Year FHA Purchase 7.61% 12/4/22
    30 Year VA Purchase 6.58% 12/4/22
    30 Year USDA Purchase 7.08% 12/4/22
    15 Year Conventional Purchase 5.76% 12/4/22
    15 Year Conventional Refi 6.13% 12/4/22
    15 Year Cash-out Refi 6.13% 12/4/22
    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.


    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 mortgage rate was 3.11%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.04%.

    Relative Fees (Closing Costs)

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

    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
    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.

    Their top states include:
  • California (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against COMMUNITY MORTGAGE FUNDING based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Christian Community Credit Union
    Similarity Rank: 354
    First Credit Union
    Similarity Rank: 378
    Credence Funding Corporation
    Similarity Rank: 404
    ALOHA PACIFIC
    Similarity Rank: 670
    Chaffey Federal Credit Union
    Similarity Rank: 966
    ARIZONA CENTRAL
    Similarity Rank: 1166
    LA Financial Federal Credit Union
    Similarity Rank: 1374
    POPA FEDERAL CREDIT UNION
    Similarity Rank: 1380
    Los Angeles Federal Credit Union
    Similarity Rank: 1400

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 356 $104,720,000 $294,157 $3,643 2.98%
    FHA 6 $1,320,000 $220,000 $8,941 2.71%
    Reverse Mortgage 2 $350,000 $175,000 $0 2.88%
    USDA 1 $365,000 $365,000 $9,599 2.99%

    For 2021, Community Mortgage Funding's most frequently originated type of loan was Conventional, with 356 originations. Their 2nd most popular type was FHA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Community Mortgage Funding's most frequently cited loan purpose was Cash Out Refi, with 190 originations. The 2nd most popular reason was 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 2021, Community Mortgage Funding's most frequently cited loan duration was 30 Year, with 245 originations. The 2nd most popular length was 15 Year, with 75 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 296 $84,670,000 $286,047
    $2k-3k 30 $8,960,000 $298,667
    $3k-4k 14 $5,720,000 $408,571
    $5k+ 13 $5,365,000 $412,692
    $<1k 7 $445,000 $63,571
    $4k-5k 3 $1,245,000 $415,000

    Community Mortgage Funding's average total fees were $3,827, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.11%, while their most frequently originated rate bucket for loans was 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
    91.25%

    Community Mortgage Funding has an average approval rate.

    Pick Rate

    Approvals leading to origination
    65.75%

    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%