Ccfcu Funding Mortgage Rates, Fees & Info

ALBANY, NY

LEI: 549300VG7NKKVNYENV67

Tax ID: 27-1365466

5 stars - out of 5 stars, based on 40 reviews

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

Jump to:

Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Ccfcu Funding is a smaller credit union specializing in loans. Ccfcu 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.) Their top markets by origination volume include: Albany, Utica, Glens Falls, Poughkeepsie, and Gloversville among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Ccfcu Funding 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. Ccfcu Funding 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 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 6.46% 3/24/23
    30 Year Conventional Refi 6.42% 3/24/23
    30 Year Cash-out Refi 6.69% 3/24/23
    30 Year FHA Purchase 7.47% 3/24/23
    15 Year Conventional Purchase 5.92% 3/24/23
    15 Year Conventional Refi 5.90% 3/24/23
    15 Year Cash-out Refi 5.90% 3/24/23
    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

    1,569

    Origination Dollar Volume (All Markets)

    $401,805,000
    Show all (9) awards

    Relative Rate

    Ccfcu Funding's average 30 year fixed mortgage rate was 4.06%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.7%.

    Relative Fees (Closing Costs)

    Ccfcu Funding's average total fees/closing costs for a 30 year fixed rate mortgage were $4,069.

    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
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1,259 $338,445,000 $268,820 $3,906 3.90%
    UTICA-ROME, NY (FHA|USDA|VA) 133 $20,075,000 $150,940 $4,189 4.31%
    GLENS FALLS, NY (FHA|USDA|VA) 28 $7,340,000 $262,143 $3,911 4.12%
    Outside of Metro Areas 33 $6,185,000 $187,424 $4,276 3.94%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 16 $5,370,000 $335,625 $4,197 3.83%
    Gloversville, NY (FHA|USDA|VA) 19 $4,215,000 $221,842 $3,765 4.29%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 11 $3,885,000 $353,182 $4,250 3.98%
    Hudson, NY (FHA|USDA|VA) 9 $3,475,000 $386,111 $4,376 3.96%
    Amsterdam, NY (FHA|USDA|VA) 13 $2,655,000 $204,231 $3,928 4.52%
    SYRACUSE, NY (FHA|USDA|VA) 12 $2,240,000 $186,667 $3,756 5.06%
    KINGSTON, NY (FHA|USDA|VA) 7 $1,975,000 $282,143 $5,601 3.73%
    Oneonta, NY (FHA|USDA|VA) 9 $1,915,000 $212,778 $4,347 4.85%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 3 $1,145,000 $381,667 $3,836 4.21%
    BINGHAMTON, NY (FHA|USDA|VA) 6 $960,000 $160,000 $5,297 4.85%
    ITHACA, NY (FHA|USDA|VA) 1 $415,000 $415,000 $4,262 2.75%
    Plattsburgh, NY (FHA|USDA|VA) 3 $415,000 $138,333 $3,518 3.17%
    Seneca Falls, NY (FHA|USDA|VA) 1 $305,000 $305,000 $4,722 5.38%
    Malone, NY (FHA|USDA|VA) 2 $250,000 $125,000 $3,944 4.38%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 1 $205,000 $205,000 $2,905 2.75%
    Olean, NY (FHA|USDA|VA) 2 $180,000 $90,000 $4,013 3.25%
    Corning, NY (FHA|USDA|VA) 1 $155,000 $155,000 $3,549 4.00%
    Ccfcu Funding's top markets include Albany, Utica, Glens Falls, Poughkeepsie, and Gloversville among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Similar Lenders

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

    SECNY Federal Credit Union
    Similarity Rank: 38
    FIRST NEW YORK
    Similarity Rank: 72
    Bank of Richmondville
    Similarity Rank: 188
    THE SUMMIT Federal Credit Union
    Similarity Rank: 266
    N C P D Federal Credit Union
    Similarity Rank: 306
    HUDSON RIVER COMMUNITY
    Similarity Rank: 324
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 326
    Adirondack Bank
    Similarity Rank: 336
    FIRST SOURCE
    Similarity Rank: 350

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,499 $389,665,000 $259,950 $3,797 3.95%
    FHA 70 $12,140,000 $173,429 $7,272 4.33%

    For 2022, Ccfcu Funding's most frequently originated type of loan was Conventional, with 1,499 originations. Their 2nd most popular type was FHA, with 70 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,127 $302,885,000 $268,753 $4,247 4.11%
    Cash Out Refi 223 $51,665,000 $231,682 $3,369 3.88%
    Refi 219 $47,255,000 $215,776 $3,029 3.29%

    For 2022, Ccfcu Funding's most frequently cited loan purpose was Home Purchase, with 1,127 originations. The 2nd most popular reason was Cash Out Refi, with 223 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,377 $363,955,000 $264,310 $4,069 4.06%
    15 Year 136 $25,980,000 $191,029 $3,123 3.17%
    20 Year 44 $9,430,000 $214,318 $3,211 3.74%
    10 Year 7 $1,165,000 $166,429 $3,126 2.82%
    Other 5 $1,275,000 $255,000 $3,145 3.58%

    For 2022, Ccfcu Funding's most frequently cited loan duration was 30 Year, with 1,377 originations. The 2nd most popular length was 15 Year, with 136 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 854 $217,150,000 $254,274
    $1k-2k 534 $141,600,000 $265,169
    $2k-3k 71 $22,335,000 $314,577
    $3k-4k 22 $5,590,000 $254,091
    $4k-5k 14 $3,830,000 $273,571
    $5k+ 7 $2,665,000 $380,714

    Ccfcu Funding's average total fees were $4,069, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 854 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 690 $182,810,000 $264,942
    4-5% 356 $89,350,000 $250,983
    5-6% 200 $42,810,000 $214,050
    2.5-3% 164 $46,990,000 $286,524
    <2.5% 116 $33,400,000 $287,931
    6-7% 32 $4,750,000 $148,438
    7-8% 11 $1,695,000 $154,091

    During 2022, Ccfcu Funding's average interest rate for loans was 4.06%, while their most frequently originated rate bucket for loans was 3-4%, with 690 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 751 $209,535,000 $279,008 $3,983 3.93%
    $100k-200k 539 $83,565,000 $155,037 $3,608 4.10%
    $400k-600k 174 $81,220,000 $466,782 $4,867 3.55%
    $100,000 or less 76 $5,960,000 $78,421 $3,117 4.48%
    $600k-1MM 26 $17,900,000 $688,462 $5,373 3.80%
    $1MM+ 3 $3,625,000 $1,208,333 $7,081 2.96%

    2022 saw Ccfcu Funding place emphasis on $200k-400k loans with 751 originations, totaling $209,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 442 $129,920,000 $293,937 $3,992 3.93%
    $50k-75k 370 $69,260,000 $187,189 $3,811 4.04%
    $75k-100k 321 $74,785,000 $232,975 $3,863 4.05%
    $150k-250k 213 $75,985,000 $356,737 $4,318 3.74%
    $50k or less 165 $23,585,000 $142,939 $3,624 4.03%
    $250k+ 58 $28,270,000 $487,414 $4,904 3.90%

    Ccfcu Funding lent most frequently to those with incomes in the $100k-150k range, with 442 originations. The second most popular income band? $50k-75k, with 370 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 327 $86,695,000 $265,122 $3,942 3.91%
    20-30% 295 $72,895,000 $247,102 $3,750 3.80%
    44% 79 $19,015,000 $240,696 $3,978 4.23%
    40% 76 $18,910,000 $248,816 $3,995 4.15%
    38% 75 $18,635,000 $248,467 $3,937 4.02%
    <20% 72 $17,580,000 $244,167 $3,675 3.87%
    42% 72 $21,320,000 $296,111 $4,067 3.82%
    41% 71 $18,125,000 $255,282 $3,931 4.23%
    39% 71 $18,505,000 $260,634 $3,694 3.90%
    36% 66 $16,660,000 $252,424 $3,930 4.09%
    43% 61 $17,275,000 $283,197 $4,245 4.00%
    37% 57 $14,765,000 $259,035 $4,191 4.06%
    45% 54 $15,080,000 $279,259 $4,067 4.07%
    46% 52 $12,770,000 $245,577 $4,029 4.17%
    48% 38 $9,940,000 $261,579 $4,004 3.85%
    49% 36 $8,950,000 $248,611 $4,363 4.09%
    47% 33 $7,265,000 $220,152 $3,904 3.98%
    50-60% 33 $7,095,000 $215,000 $5,334 4.01%

    Ccfcu Funding lent most frequently to those with DTI ratios of 30-36%, with 327 originations. The next most common DTI ratio? 20-30%, with 295 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 825 $217,585,000 $263,739 $3,930 3.90%
    White 656 $158,360,000 $241,402 $3,943 4.06%
    Asian 47 $16,535,000 $351,809 $4,388 3.60%
    Black 36 $7,900,000 $219,444 $4,401 4.20%
    American Indian 4 $1,040,000 $260,000 $4,114 4.56%
    Native Hawaiian or Islander 1 $385,000 $385,000 $2,863 3.25%

    Approval Rates

    Total approvals of all applications
    97.28%

    Ccfcu Funding 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
    91.08%

    Ccfcu Funding has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,569 $401,805,000 $256,090

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,569 $401,805,000 $256,090

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 45 $5,965,000 $132,556 $3,051 3.88%
    40-60% 137 $27,285,000 $199,161 $3,286 3.55%
    60-80% 410 $100,800,000 $245,854 $3,632 3.90%
    80-100% 973 $267,205,000 $274,620 $4,215 4.06%
    Under 20% 3 $225,000 $75,000 $2,065 4.29%