Ccfcu Funding Mortgage Rates, Fees & Info

ALBANY, NY

LEI: 549300VG7NKKVNYENV67

Tax ID: 27-1365466

5 stars - out of 5 stars, based on 52 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Ccfcu Funding is a smaller credit union specializing in Home Purchase and Refi 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 include Albany, Utica, Glens Falls, Poughkeepsie, and Syracuse among others. Ccfcu Funding has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Ccfcu Funding is typically an average fee lendor.


Originations

2,723

Origination Dollar Volume (All Markets)

$626,875,000
Show all (9) awards

Relative Rate

Ccfcu Funding 's average 30 year fixed rate mortgage of loans were 3.02%.

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

This yields a difference of -0.13%.

Relative Fees

Ccfcu 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
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 2,100 $514,660,000 $245,076 $3,518 2.92%
UTICA-ROME, NY (FHA|USDA|VA) 295 $43,185,000 $146,390 $3,760 3.01%
GLENS FALLS, NY (FHA|USDA|VA) 52 $14,040,000 $270,000 $3,643 2.77%
Outside of Metro Areas 69 $12,745,000 $184,710 $3,577 2.89%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 22 $5,550,000 $252,273 $3,950 2.97%
SYRACUSE, NY (FHA|USDA|VA) 28 $5,300,000 $189,286 $3,524 2.92%
Amsterdam, NY (FHA|USDA|VA) 29 $4,945,000 $170,517 $3,701 3.03%
Gloversville, NY (FHA|USDA|VA) 26 $4,820,000 $185,385 $3,383 3.12%
Hudson, NY (FHA|USDA|VA) 18 $4,590,000 $255,000 $3,464 2.81%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 12 $3,750,000 $312,500 $3,444 2.84%
Oneonta, NY (FHA|USDA|VA) 14 $2,530,000 $180,714 $3,856 3.11%
KINGSTON, NY (FHA|USDA|VA) 9 $2,195,000 $243,889 $3,960 3.04%
Plattsburgh, NY (FHA|USDA|VA) 11 $2,175,000 $197,727 $3,749 2.69%
Malone, NY (FHA|USDA|VA) 8 $1,820,000 $227,500 $3,571 3.08%
BINGHAMTON, NY (FHA|USDA|VA) 9 $1,225,000 $136,111 $3,816 3.14%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 6 $1,160,000 $193,333 $3,330 2.81%
ROCHESTER, NY (FHA|USDA|VA) 7 $1,135,000 $162,143 $3,851 2.88%
Ogdensburg-Massena, NY (FHA|USDA|VA) 5 $645,000 $129,000 $3,457 2.63%
Cortland, NY (FHA|USDA|VA) 1 $195,000 $195,000 $3,164 3.00%
Auburn, NY (FHA|USDA|VA) 1 $115,000 $115,000 $2,989 2.88%
Olean, NY (FHA|USDA|VA) 1 $95,000 $95,000 $3,109 2.50%

Ccfcu Funding 's top markets include Albany, Utica, Glens Falls, Poughkeepsie, and Syracuse among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,551 $596,725,000 $233,918 $3,336 2.94%
FHA 172 $30,150,000 $175,291 $6,689 2.81%

For the 2021 period, Ccfcu Funding 's most frequently originated loan type of loans were Conventional, with 2,551 originations. Their 2nd most popular type is FHA, with 172 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,406 $341,370,000 $242,795 $4,173 2.95%
Refi 816 $174,470,000 $213,811 $2,788 2.80%
Cash Out Refi 501 $111,035,000 $221,627 $3,098 3.08%

For the 2021, Ccfcu Funding 's most frequently cited loan purpose of loans were Home Purchase, with 1,406 originations. The 2nd most popular reason of loans were Refi, with 816 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,953 $472,155,000 $241,759 $3,827 3.02%
15 Year 505 $102,375,000 $202,723 $2,918 2.58%
20 Year 219 $44,125,000 $201,484 $2,799 2.97%
10 Year 29 $3,685,000 $127,069 $2,782 2.50%
Other 17 $4,535,000 $266,765 $2,859 3.17%

For the 2021, Ccfcu Funding 's most frequently cited loan length of loans were 30 Year, with 1,953 originations. The 2nd most popular length of loans were 15 Year, with 505 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,747 $411,125,000 $235,332
$1k-2k 814 $185,750,000 $228,194
$2k-3k 53 $15,075,000 $284,434
$3k-4k 10 $2,240,000 $224,000
$5k+ 1 $215,000 $215,000

$3,827 of loans were Ccfcu Funding 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,747 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 1,205 $281,105,000 $233,282
3-4% 886 $194,070,000 $219,041
<2.5% 577 $143,715,000 $249,073
4-5% 54 $7,950,000 $147,222
5-6% 1 $35,000 $35,000

During 2021, Ccfcu Funding 's average interest rate of loans were 3.02%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,205 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,219 $334,695,000 $274,565 $3,667 2.91%
$100k-200k 1,108 $171,700,000 $154,964 $3,329 2.95%
$400k-600k 190 $88,120,000 $463,789 $4,362 2.79%
$100,000 or less 181 $14,215,000 $78,536 $2,940 3.10%
$600k-1MM 24 $17,090,000 $712,083 $5,244 2.69%
$1MM+ 1 $1,055,000 $1,055,000 $5,303 2.25%

2021 saw Ccfcu Funding place emphasis on $200k-400k loans with 1,219 originations, totaling $334,695,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 700 $124,530,000 $177,900 $3,554 2.96%
$100k-150k 684 $182,980,000 $267,515 $3,544 2.91%
$75k-100k 585 $125,465,000 $214,470 $3,347 2.95%
$150k-250k 369 $122,895,000 $333,049 $3,667 2.90%
$50k or less 306 $41,010,000 $134,020 $3,765 2.94%
$250k+ 79 $29,995,000 $379,684 $3,899 2.81%

Ccfcu Funding lent most frequently to those with incomes in the $50k-75k range, with 700 originations. The second most popular income band? $100k-150k, with 684 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 698 $160,230,000 $229,556 $3,380 2.91%
30-36% 575 $136,715,000 $237,765 $3,427 2.92%
<20% 184 $38,330,000 $208,315 $3,169 2.78%
39% 138 $30,940,000 $224,203 $3,467 3.07%
36% 113 $26,985,000 $238,805 $3,639 3.04%
44% 106 $24,620,000 $232,264 $3,754 2.92%
40% 106 $24,430,000 $230,472 $3,516 2.96%
42% 105 $26,095,000 $248,524 $3,902 2.98%
38% 105 $24,195,000 $230,429 $3,564 2.88%
37% 104 $23,190,000 $222,981 $3,460 2.97%
41% 96 $21,540,000 $224,375 $3,614 2.96%
43% 93 $21,515,000 $231,344 $3,844 3.00%
47% 56 $12,460,000 $222,500 $3,874 2.96%
45% 55 $12,975,000 $235,909 $3,610 3.04%
48% 50 $11,930,000 $238,600 $4,126 2.99%
46% 48 $11,590,000 $241,458 $3,846 2.87%
49% 46 $10,720,000 $233,043 $4,227 2.97%
50-60% 45 $8,415,000 $187,000 $5,809 2.83%

Ccfcu Funding lent most frequently to those with DTI ratios of 20-30%, with 698 originations. The next most common DTI ratio? 30-36%, with 575 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,390 $298,890,000 $215,029 $3,547 2.96%
Not provided 1,189 $285,425,000 $240,055 $3,516 2.92%
Asian 101 $33,315,000 $329,851 $3,903 2.69%
Black 38 $8,230,000 $216,579 $4,041 2.98%
American Indian 4 $690,000 $172,500 $4,965 3.06%
Native Hawaiian 1 $325,000 $325,000 $3,041 2.00%

Approval Rates

Total approvals of all applications
96.89%

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
89.08%

Ccfcu Funding has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 2,723 $626,875,000 $230,215

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,723 $626,875,000 $230,215

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 65 $10,455,000 $160,846 $2,995 2.61%
40-60% 294 $52,370,000 $178,129 $2,870 2.75%
60-80% 1,022 $227,350,000 $222,456 $3,064 2.98%
80-100% 1,337 $336,415,000 $251,619 $4,077 2.95%
Under 20% 5 $285,000 $57,000 $2,512 2.98%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
CIBC BANCORP USA INC. Conventional home mortgage Closing on a mortgage 1 100.0%