Community Star Credit Union Mortgage Rates, Fees & Info

Elyria, OH

LEI: 549300VZCSVVY5P73G51

Tax ID: 34-0728231

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Community Star Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Community Star Credit Union has a high proportion of conventional loans. Community Star Credit Union has an average proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Cleveland, Akron, and Norwalk among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Community Star Credit Union has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Community Star Credit Union 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 relatively high 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.90% 11/17/24
    30 Year Conventional Refi 6.73% 11/17/24
    30 Year Cash-out Refi 6.81% 11/17/24
    30 Year USDA Purchase 7.84% 11/17/24
    15 Year Conventional Purchase 5.89% 11/17/24
    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.

    Community Star Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Community Star Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    76

    Origination Dollar Volume (All Markets)

    $8,280,000

    Awards

    Community Star Credit Union 30 Year Conventional Loans gold
    Show all (1) awards

    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
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 73 $7,935,000 $108,699 $2,826 5.31%
    AKRON, OH (FHA|USDA|VA) 2 $250,000 $125,000 $2,750 3.88%
    Norwalk, OH (FHA|USDA|VA) 1 $95,000 $95,000 $4,583 6.25%
    Community Star Credit Union's top markets include Cleveland, Akron, and Norwalk among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)

    • Similar Lenders

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

    Community Star Credit Union
    Similarity Rank: 249
    CARDINAL CREDIT UNION, INC.
    Similarity Rank: 351
    First Federal Savings and Loan Association of Lorain
    Similarity Rank: 396
    The Middlefield Banking Company
    Similarity Rank: 754
    Union Savings Bank
    Similarity Rank: 835
    Westfield Bank, FSB
    Similarity Rank: 1215
    Seven Seventeen Credit Union
    Similarity Rank: 1464
    MORTGAGE CENTER L.C
    Similarity Rank: 1472
    Ohio Catholic Federal Credit Union
    Similarity Rank: 1570
    FIRST EQUITY MORTGAGE INCORPORATED
    Similarity Rank: 1875

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 55 $6,735,000 $122,455 $2,825 5.29%
    Conventional 20 $1,450,000 $72,500 $0 0.00%
    USDA 1 $95,000 $95,000 $4,583 6.25%

    For 2022, Community Star Credit Union's most frequently originated type of loan was Conventional, with 55 originations. Their 2nd most popular type was Conventional, with 20 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 32 $4,380,000 $136,875 $3,451 5.35%
    Cash Out Refi 17 $1,695,000 $99,706 $2,463 5.12%
    Home Improvement 14 $900,000 $64,286 $1,881 5.41%
    Other 7 $445,000 $63,571 $1,446 6.59%
    Refi 6 $860,000 $143,333 $2,074 4.38%

    For 2022, Community Star Credit Union's most frequently cited loan purpose was Home Purchase, with 32 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 42 $5,650,000 $134,524 $3,401 5.23%
    Other 20 $1,450,000 $72,500 $0 0.00%
    15 Year 6 $670,000 $111,667 $2,212 6.42%
    10 Year 5 $155,000 $31,000 $446 5.28%
    20 Year 2 $330,000 $165,000 $1,310 3.88%
    5 Year 1 $25,000 $25,000 $119 5.00%

    For 2022, Community Star Credit Union's most frequently cited loan duration was 30 Year, with 42 originations. The 2nd most popular length was Other, with 20 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 36 $3,760,000 $104,444
    $1k-2k 17 $2,515,000 $147,941
    $3k-4k 1 $385,000 $385,000

    Community Star Credit Union's average total fees were $3,401, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 36 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 14 $1,930,000 $137,857
    4-5% 14 $1,560,000 $111,429
    5-6% 14 $1,740,000 $124,286
    6-7% 9 $965,000 $107,222
    7-8% 4 $550,000 $137,500
    Over 8% 1 $85,000 $85,000

    During 2022, Community Star Credit Union's average interest rate for loans was 5.23%, while their most frequently originated rate bucket for loans was 3-4%, with 14 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 36 $1,960,000 $54,444 $2,014 5.50%
    $100k-200k 33 $4,575,000 $138,636 $3,319 5.20%
    $200k-400k 7 $1,745,000 $249,286 $3,514 5.13%

    2022 saw Community Star Credit Union place emphasis on $100,000 or less loans with 36 originations, totaling $1,960,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 20 $1,920,000 $96,000 $3,160 5.02%
    $100k-150k 16 $1,820,000 $113,750 $2,505 5.61%
    $150k-250k 14 $1,550,000 $110,714 $1,933 5.81%
    $50k-75k 14 $1,510,000 $107,857 $3,039 5.35%
    $75k-100k 11 $1,265,000 $115,000 $3,365 4.88%
    $250k+ 1 $215,000 $215,000 $0 0.00%

    Community Star Credit Union lent most frequently to those with incomes in the $50k or less range, with 20 originations. The second most popular income band? $100k-150k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 20 $1,450,000 $72,500 $0 0.00%
    20-30% 20 $2,400,000 $120,000 $2,580 5.21%
    <20% 11 $1,165,000 $105,909 $2,600 4.38%
    30-36% 5 $665,000 $133,000 $2,972 5.28%
    39% 4 $560,000 $140,000 $3,517 5.00%
    44% 3 $225,000 $75,000 $2,000 5.96%
    48% 3 $455,000 $151,667 $3,461 6.75%
    37% 2 $290,000 $145,000 $3,132 5.75%
    43% 1 $85,000 $85,000 $3,429 5.75%
    46% 1 $105,000 $105,000 $3,079 5.63%
    47% 1 $55,000 $55,000 $2,890 7.00%
    42% 1 $385,000 $385,000 $6,613 5.88%
    38% 1 $145,000 $145,000 $3,593 7.00%
    40% 1 $145,000 $145,000 $4,214 6.13%
    41% 1 $55,000 $55,000 $658 5.75%
    36% 1 $95,000 $95,000 $3,216 5.63%

    Community Star Credit Union lent most frequently to those with DTI ratios of Exempt%, with 20 originations. The next most common DTI ratio? 20-30%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 64 $7,200,000 $112,500 $3,120 5.28%
    Not provided 9 $725,000 $80,556 $480 6.31%
    Black 2 $330,000 $165,000 $1,310 3.88%
    American Indian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.67%

    Community Star Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.37%

    Community Star Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 20 $1,450,000 $72,500
    NA 56 $6,830,000 $121,964

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    76 $8,280,000 $108,947

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $345,000 $69,000 $1,434 6.35%
    40-60% 7 $905,000 $129,286 $3,259 5.11%
    60-80% 20 $3,100,000 $155,000 $3,246 4.88%
    80-100% 18 $2,290,000 $127,222 $3,521 5.44%
    Under 20% 5 $155,000 $31,000 $369 5.85%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) FHA mortgage Struggling to pay mortgage 2 66.7%
    Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) Other type of mortgage Trouble during payment process 1 33.3%