Community 1st Credit Union Mortgage Rates, Fees & Info

Ottumwa, IA

LEI: 549300WOW2HLRVN4O324

Tax ID: 42-0686459

5 stars - Updated: 11/11/24 - out of 5 stars, based on 34 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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 1st Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Community 1st Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Ottumwa, Des Moines, Pella, Oskaloosa, 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 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.

    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% 11/11/24
    30 Year Conventional Refi 6.83% 11/11/24
    30 Year Cash-out Refi 6.97% 11/11/24
    15 Year Conventional Purchase 5.91% 11/11/24
    15 Year Conventional Refi 5.91% 11/11/24
    15 Year Cash-out Refi 5.91% 11/11/24
    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

    1,141

    Origination Dollar Volume (All Markets)

    $97,555,000
    Show all (10) awards

    Relative Rate

    Community 1st Credit Union's average 30 year fixed mortgage rate was 6.37%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.11%.

    Relative Fees (Closing Costs)

    Community 1st Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,355.

    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 $9,089.

    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 423 $37,555,000 $88,783 $1,493 4.13%
    Ottumwa, IA (FHA|USDA|VA) 257 $20,485,000 $79,708 $1,458 4.43%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 103 $8,985,000 $87,233 $896 3.21%
    Pella, IA (FHA|USDA|VA) 97 $8,825,000 $90,979 $697 2.48%
    Oskaloosa, IA (FHA|USDA|VA) 106 $7,920,000 $74,717 $1,236 4.12%
    Fairfield, IA (FHA|USDA|VA) 60 $6,220,000 $103,667 $1,622 4.17%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 39 $2,785,000 $71,410 $749 2.94%
    IOWA CITY, IA (FHA|USDA|VA) 23 $1,595,000 $69,348 $1,128 3.31%
    Marshalltown, IA (FHA|USDA|VA) 14 $1,560,000 $111,429 $2,672 6.36%
    Burlington, IA-IL (FHA|USDA|VA) 7 $715,000 $102,143 $2,445 5.61%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 6 $460,000 $76,667 $2,727 4.08%
    Muscatine, IA (FHA|USDA|VA) 1 $155,000 $155,000 $1,756 6.25%
    AMES, IA (FHA|USDA|VA) 1 $155,000 $155,000 $2,082 6.25%
    Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 2 $100,000 $50,000 $2,456 4.00%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $25,000 $25,000 $0 8.49%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $15,000 $15,000 $0 1.00%
    Community 1st Credit Union's top markets include Ottumwa, Des Moines, Pella, Oskaloosa, 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.

    Bank
    Similarity Rank: 26
    MEMBERS1st Community Credit Union
    Similarity Rank: 40
    FINANCIAL PLUS Credit Union
    Similarity Rank: 60
    FIRST
    Similarity Rank: 112
    LINN AREA
    Similarity Rank: 128
    GREATER IOWA CREDIT UNION
    Similarity Rank: 168
    BankIowa of Cedar Rapids
    Similarity Rank: 170
    Raccoon Valley Bank
    Similarity Rank: 175
    Fidelity Bank & Trust
    Similarity Rank: 182
    Hills Bank and Trust Company
    Similarity Rank: 200

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 879 $83,245,000 $94,704 $1,352 4.76%
    HELOC 262 $14,310,000 $54,618 n/a 1.27%

    For 2023, Community 1st Credit Union's most frequently originated type of loan was Conventional, with 879 originations. Their 2nd most popular type was HELOC, with 262 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 432 $21,570,000 $49,931 $124 2.11%
    Home Purchase 422 $54,320,000 $128,720 $2,257 6.01%
    Refi 280 $20,260,000 $72,357 $916 3.61%
    Home Improvement 7 $1,405,000 $200,714 $0 7.68%

    For 2023, Community 1st Credit Union's most frequently cited loan purpose was Cash Out Refi, with 432 originations. The 2nd most popular reason was Home Purchase, with 422 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 405 $27,465,000 $67,815 $164 1.12%
    30 Year 337 $47,435,000 $140,757 $2,355 6.37%
    20 Year 231 $13,135,000 $56,861 $1,088 3.24%
    15 Year 107 $7,315,000 $68,364 $1,383 7.14%
    10 Year 40 $1,380,000 $34,500 $284 6.23%
    5 Year 16 $360,000 $22,500 $174 6.94%
    1 Year 4 $460,000 $115,000 $0 8.00%
    3 Year 1 $5,000 $5,000 $0 8.49%

    For 2023, Community 1st Credit Union's most frequently cited loan duration was Other, with 405 originations. The 2nd most popular length was 30 Year, with 337 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 840 $78,010,000 $92,869
    $1k-2k 5 $405,000 $81,000
    $2k-3k 2 $540,000 $270,000
    $3k-4k 1 $325,000 $325,000
    $5k+ 1 $875,000 $875,000

    Community 1st Credit Union's average total fees were $2,355, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 840 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 546 $27,840,000 $50,989
    6-7% 246 $30,650,000 $124,593
    5-6% 210 $28,510,000 $135,762
    7-8% 94 $7,380,000 $78,511
    Over 8% 45 $3,175,000 $70,556

    During 2023, Community 1st Credit Union's average interest rate for loans was 6.37%, while their most frequently originated rate bucket for loans was <2.5%, with 546 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 798 $38,430,000 $48,158 $904 3.27%
    $100k-200k 268 $36,800,000 $137,313 $2,044 5.49%
    $200k-400k 65 $16,735,000 $257,462 $2,362 5.67%
    $400k-600k 7 $3,165,000 $452,143 $2,448 6.45%
    $600k-1MM 3 $2,425,000 $808,333 $6,328 7.54%

    2023 saw Community 1st Credit Union place emphasis on $100,000 or less loans with 798 originations, totaling $38,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 328 $26,470,000 $80,701 $1,525 4.25%
    $100k-150k 240 $21,830,000 $90,958 $1,045 3.57%
    $50k or less 232 $13,770,000 $59,353 $1,628 4.46%
    $75k-100k 191 $16,165,000 $84,634 $1,222 3.75%
    $150k-250k 108 $13,040,000 $120,741 $911 2.95%
    $250k+ 27 $5,125,000 $189,815 $1,578 3.39%

    Community 1st Credit Union lent most frequently to those with incomes in the $50k-75k range, with 328 originations. The second most popular income band? $100k-150k, with 240 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 332 $25,210,000 $75,934 $1,253 3.72%
    <20% 236 $15,260,000 $64,661 $737 2.67%
    30-36% 235 $22,875,000 $97,340 $1,549 4.33%
    39% 44 $3,620,000 $82,273 $1,479 4.85%
    37% 41 $3,655,000 $89,146 $1,560 4.85%
    41% 41 $5,265,000 $128,415 $2,119 5.28%
    42% 37 $4,755,000 $128,514 $1,903 4.73%
    38% 36 $4,310,000 $119,722 $1,559 4.70%
    36% 34 $2,850,000 $83,824 $1,661 4.13%
    40% 24 $2,400,000 $100,000 $2,145 5.16%
    43% 17 $1,755,000 $103,235 $1,640 5.39%
    44% 15 $2,015,000 $134,333 $1,342 4.37%
    45% 10 $1,040,000 $104,000 $1,432 3.82%
    >60% 7 $525,000 $75,000 $0 1.00%
    50-60% 4 $250,000 $62,500 $231 7.87%
    47% 3 $175,000 $58,333 $871 5.66%
    48% 3 $125,000 $41,667 $150 3.83%
    46% 3 $165,000 $55,000 $1,177 7.00%
    49% 1 $25,000 $25,000 $0 1.00%

    Community 1st Credit Union lent most frequently to those with DTI ratios of 20-30%, with 332 originations. The next most common DTI ratio? <20%, with 236 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,079 $91,885,000 $85,158 $1,341 3.91%
    Asian 17 $2,385,000 $140,294 $2,021 4.63%
    Not applicable 15 $1,155,000 $77,000 $0 6.75%
    Black 11 $965,000 $87,727 $1,573 3.90%
    Not provided 13 $765,000 $58,846 $947 3.77%
    American Indian 3 $275,000 $91,667 $2,531 4.83%
    Native Hawaiian or Islander 2 $80,000 $40,000 $360 1.00%
    Asian Indian 1 $45,000 $45,000 $2,671 6.63%

    Approval Rates

    Total approvals of all applications
    91.06%

    Community 1st Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.46%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,141 $97,555,000 $85,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,141 $97,555,000 $85,500

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 277 $15,775,000 $56,949 $385 2.45%
    40-60% 106 $9,110,000 $85,943 $1,055 3.65%
    60-80% 157 $20,885,000 $133,025 $2,147 5.86%
    80-100% 287 $39,405,000 $137,300 $2,431 6.29%
    Under 20% 306 $10,460,000 $34,183 $104 2.17%