Community 1st Credit Union Mortgage Rates, Fees & Info

Ottumwa, IA

LEI: 549300WOW2HLRVN4O324

Tax ID: 42-0686459

5 stars - Updated: 3/3/24 - out of 5 stars, based on 33 reviews

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

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Mortgage Data

Review & Overview

Community 1st Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Community 1st Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Ottumwa, Des Moines, Oskaloosa, Pella, and Fairfield among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Community 1st Credit Union 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 1st 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 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 6.94% 3/3/24
30 Year Conventional Refi 6.83% 3/3/24
30 Year Cash-out Refi 6.97% 3/3/24
15 Year Conventional Purchase 5.91% 3/3/24
15 Year Conventional Refi 5.91% 3/3/24
15 Year Cash-out Refi 5.91% 3/3/24
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 1st 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 1st 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

1,110

Origination Dollar Volume (All Markets)

$104,050,000
Show all (5) awards

Relative Rate

Community 1st Credit Union's average 30 year fixed mortgage rate was 4.39%.

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

This yields a difference of -0.37%.

Relative Fees (Closing Costs)

Community 1st Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,134.

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
Outside of Metro Areas 451 $45,805,000 $101,563 $1,846 3.40%
Ottumwa, IA (FHA|USDA|VA) 226 $17,510,000 $77,478 $1,895 3.53%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 93 $9,915,000 $106,613 $1,464 2.98%
Oskaloosa, IA (FHA|USDA|VA) 110 $8,780,000 $79,818 $1,368 2.97%
Pella, IA (FHA|USDA|VA) 86 $8,220,000 $95,581 $1,443 2.50%
Fairfield, IA (FHA|USDA|VA) 62 $6,270,000 $101,129 $1,879 2.99%
CEDAR RAPIDS, IA (FHA|USDA|VA) 36 $3,330,000 $92,500 $1,634 2.79%
IOWA CITY, IA (FHA|USDA|VA) 28 $2,510,000 $89,643 $1,633 3.43%
Burlington, IA-IL (FHA|USDA|VA) 4 $460,000 $115,000 $2,261 4.09%
Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 4 $340,000 $85,000 $1,785 3.41%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $230,000 $115,000 $2,389 4.25%
Carroll, IA (FHA|USDA|VA) 1 $225,000 $225,000 $2,201 4.63%
Marshalltown, IA (FHA|USDA|VA) 2 $170,000 $85,000 $2,464 2.50%
AMES, IA (FHA|USDA|VA) 3 $145,000 $48,333 $954 1.63%
Kirksville, MO (FHA|USDA|VA) 1 $115,000 $115,000 $1,608 4.13%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.00%
Community 1st Credit Union's top markets include Ottumwa, Des Moines, Oskaloosa, Pella, and Fairfield among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against COMMUNITY 1ST CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    BankIowa of Cedar Rapids
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    LINN AREA
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 767 $89,765,000 $117,034 $1,746 4.20%
    HELOC 343 $14,285,000 $41,647 n/a 1.08%

    For 2022, Community 1st Credit Union's most frequently originated type of loan was Conventional, with 767 originations. Their 2nd most popular type was HELOC, with 343 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 598 $34,720,000 $58,060 $840 2.32%
    Home Purchase 387 $53,255,000 $137,610 $2,320 4.42%
    Refi 107 $12,675,000 $118,458 $1,706 3.95%
    Home Improvement 18 $3,400,000 $188,889 $2,638 4.16%

    For 2022, Community 1st Credit Union's most frequently cited loan purpose was Cash Out Refi, with 598 originations. The 2nd most popular reason was Home Purchase, with 387 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 313 $47,245,000 $150,942 $2,134 4.39%
    20 Year 300 $22,130,000 $73,767 $1,867 2.83%
    Other 249 $17,815,000 $71,546 $1,131 1.21%
    15 Year 185 $14,865,000 $80,351 $1,547 3.95%
    10 Year 42 $1,470,000 $35,000 $337 5.28%
    5 Year 20 $450,000 $22,500 $77 5.60%
    1 Year 1 $75,000 $75,000 $0 5.50%

    For 2022, Community 1st Credit Union's most frequently cited loan duration was 30 Year, with 313 originations. The 2nd most popular length was 20 Year, with 300 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 735 $81,805,000 $111,299
    $5k+ 5 $2,765,000 $553,000
    $1k-2k 4 $380,000 $95,000
    $4k-5k 4 $1,540,000 $385,000
    $3k-4k 3 $905,000 $301,667
    $2k-3k 1 $155,000 $155,000

    Community 1st Credit Union's average total fees were $2,134, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 735 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 396 $16,370,000 $41,338
    4-5% 239 $30,125,000 $126,046
    3-4% 196 $23,640,000 $120,612
    5-6% 126 $15,450,000 $122,619
    2.5-3% 92 $12,590,000 $136,848
    6-7% 42 $4,550,000 $108,333
    Over 8% 10 $280,000 $28,000
    7-8% 8 $900,000 $112,500

    During 2022, Community 1st Credit Union's average interest rate for loans was 4.39%, while their most frequently originated rate bucket for loans was <2.5%, with 396 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 714 $33,690,000 $47,185 $1,326 2.74%
    $100k-200k 295 $41,565,000 $140,898 $2,030 4.11%
    $200k-400k 90 $23,000,000 $255,556 $2,190 4.14%
    $400k-600k 8 $3,590,000 $448,750 $5,493 4.53%
    $600k-1MM 3 $2,205,000 $735,000 $7,886 5.92%

    2022 saw Community 1st Credit Union place emphasis on $100,000 or less loans with 714 originations, totaling $33,690,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 313 $28,665,000 $91,581 $1,654 3.50%
    $50k or less 285 $18,955,000 $66,509 $1,815 3.39%
    $100k-150k 215 $21,785,000 $101,326 $1,656 2.80%
    $75k-100k 201 $20,405,000 $101,517 $1,708 3.18%
    $150k-250k 76 $11,330,000 $149,079 $2,226 3.15%
    $250k+ 16 $2,670,000 $166,875 $1,800 2.28%

    Community 1st Credit Union lent most frequently to those with incomes in the $50k-75k range, with 313 originations. The second most popular income band? $50k or less, with 285 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 360 $31,420,000 $87,278 $1,702 3.19%
    30-36% 261 $27,365,000 $104,847 $1,848 3.51%
    <20% 188 $11,980,000 $63,723 $1,544 2.48%
    39% 49 $5,385,000 $109,898 $1,731 3.35%
    37% 49 $5,785,000 $118,061 $1,980 3.66%
    36% 40 $4,490,000 $112,250 $1,797 3.64%
    42% 26 $2,900,000 $111,538 $1,711 3.69%
    38% 26 $2,940,000 $113,077 $1,786 3.99%
    40% 22 $2,520,000 $114,545 $1,738 3.34%
    43% 20 $2,710,000 $135,500 $1,971 3.54%
    41% 20 $2,170,000 $108,500 $2,110 3.89%
    45% 13 $1,675,000 $128,846 $1,699 3.24%
    50-60% 10 $480,000 $48,000 $499 3.09%
    44% 8 $820,000 $102,500 $1,505 3.82%
    46% 6 $260,000 $43,333 $0 1.00%
    >60% 3 $265,000 $88,333 $2,316 2.42%
    49% 2 $350,000 $175,000 $2,434 2.25%
    48% 1 $125,000 $125,000 $1,674 5.75%
    47% 1 $15,000 $15,000 $0 1.00%

    Community 1st Credit Union lent most frequently to those with DTI ratios of 20-30%, with 360 originations. The next most common DTI ratio? 30-36%, with 261 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,049 $98,445,000 $93,847 $1,733 3.25%
    Not provided 31 $2,475,000 $79,839 $1,946 2.41%
    Asian 16 $1,960,000 $122,500 $2,043 3.56%
    Black 8 $740,000 $92,500 $2,263 4.08%
    Not applicable 3 $215,000 $71,667 $0 4.42%
    American Indian 2 $200,000 $100,000 $1,608 2.56%
    Native Hawaiian or Islander 1 $15,000 $15,000 $0 1.00%

    Approval Rates

    Total approvals of all applications
    91.41%

    Community 1st Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.86%

    Community 1st Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,110 $104,050,000 $93,739

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,110 $104,050,000 $93,739

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 190 $9,880,000 $52,000 $663 2.17%
    40-60% 103 $10,335,000 $100,340 $1,509 3.36%
    60-80% 215 $27,365,000 $127,279 $1,933 4.06%
    80-100% 337 $48,685,000 $144,466 $2,283 4.34%
    Over 100% 1 $75,000 $75,000 $0 5.50%
    Under 20% 264 $7,710,000 $29,205 $182 1.87%

    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%