Community 1st Credit Union Mortgage Rates, Fees & Info

Ottumwa, IA

LEI: 549300WOW2HLRVN4O324

Tax ID: 42-0686459

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 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, Oskaloosa, Des Moines, Pella, and Fairfield among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Community 1st Credit Union has an 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.94% 12/16/24
    30 Year Conventional Refi 6.83% 12/16/24
    30 Year Cash-out Refi 6.97% 12/16/24
    15 Year Conventional Purchase 5.91% 12/16/24
    15 Year Conventional Refi 5.91% 12/16/24
    15 Year Cash-out Refi 5.91% 12/16/24
    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

    833

    Origination Dollar Volume (All Markets)

    $62,105,000

    Awards

    COMMUNITY 1ST CREDIT UNION 30 Year Conventional Loans gold COMMUNITY 1ST CREDIT UNION 30 Year Conventional Loans silver COMMUNITY 1ST CREDIT UNION 30 Year Conventional Loans gold
    Show all (3) 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
    Outside of Metro Areas 332 $24,260,000 $73,072 $1,776 3.92%
    Ottumwa, IA (FHA|USDA|VA) 208 $14,460,000 $69,519 $1,693 4.21%
    Oskaloosa, IA (FHA|USDA|VA) 75 $5,115,000 $68,200 $1,972 3.92%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 49 $4,765,000 $97,245 $1,825 3.53%
    Pella, IA (FHA|USDA|VA) 58 $4,110,000 $70,862 $1,528 3.59%
    Fairfield, IA (FHA|USDA|VA) 40 $3,470,000 $86,750 $1,753 3.92%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 38 $2,980,000 $78,421 $1,704 3.73%
    IOWA CITY, IA (FHA|USDA|VA) 21 $1,975,000 $94,048 $1,573 3.66%
    Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 7 $565,000 $80,714 $1,672 4.41%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 2 $130,000 $65,000 $1,236 5.44%
    Kirksville, MO (FHA|USDA|VA) 1 $125,000 $125,000 $1,368 4.38%
    Marshall, MO (FHA|USDA|VA) 1 $95,000 $95,000 $1,782 4.38%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.25%
    Community 1st Credit Union's top markets include Ottumwa, Oskaloosa, Des Moines, 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.

    FINANCIAL PLUS Credit Union
    Similarity Rank: 63
    Hills Bank and Trust Company
    Similarity Rank: 117
    Raccoon Valley Bank
    Similarity Rank: 145
    FIRST
    Similarity Rank: 154
    BankIowa of Cedar Rapids
    Similarity Rank: 210
    Luana Savings Bank
    Similarity Rank: 253
    Community Choice Credit Union
    Similarity Rank: 255
    RUHL MORTGAGE, LLC
    Similarity Rank: 306
    Peoples Bank
    Similarity Rank: 380
    Fidelity Bank
    Similarity Rank: 388

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 557 $51,535,000 $92,522 $1,744 4.67%
    HELOC 276 $10,570,000 $38,297 n/a 2.46%

    For 2019, Community 1st Credit Union's most frequently originated type of loan was Conventional, with 557 originations. Their 2nd most popular type was HELOC, with 276 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 443 $25,715,000 $58,047 $1,273 3.36%
    Home Purchase 313 $27,675,000 $88,419 $2,015 4.62%
    Refi 62 $6,190,000 $99,839 $1,425 4.56%
    Home Improvement 15 $2,525,000 $168,333 $2,224 4.33%

    For 2019, Community 1st Credit Union's most frequently cited loan purpose was Cash Out Refi, with 443 originations. The 2nd most popular reason was Home Purchase, with 313 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 262 $13,430,000 $51,260 $1,397 3.72%
    30 Year 259 $26,885,000 $103,803 $1,992 4.53%
    20 Year 232 $17,600,000 $75,862 $1,734 3.22%
    10 Year 58 $1,580,000 $27,241 $377 4.72%
    5 Year 11 $195,000 $17,727 $425 5.32%
    Other 8 $1,530,000 $191,250 $3,722 5.20%
    1 Year 3 $885,000 $295,000 $0 5.25%

    For 2019, Community 1st Credit Union's most frequently cited loan duration was 15 Year, with 262 originations. The 2nd most popular length was 30 Year, with 259 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 455 $41,675,000 $91,593
    $1k-2k 19 $2,215,000 $116,579
    $2k-3k 5 $865,000 $173,000
    $3k-4k 1 $325,000 $325,000
    $5k+ 1 $505,000 $505,000

    Community 1st Credit Union's average total fees were $1,992, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 455 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 298 $31,220,000 $104,765
    <2.5% 201 $7,985,000 $39,726
    3-4% 121 $10,435,000 $86,240
    5-6% 86 $7,990,000 $92,907
    2.5-3% 79 $2,845,000 $36,013
    6-7% 26 $1,040,000 $40,000
    7-8% 14 $380,000 $27,143
    Over 8% 8 $210,000 $26,250

    During 2019, Community 1st Credit Union's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 4-5%, with 298 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 643 $30,455,000 $47,364 $1,678 3.83%
    $100k-200k 155 $21,055,000 $135,839 $1,863 4.34%
    $200k-400k 30 $7,800,000 $260,000 $1,745 4.22%
    $400k-600k 3 $1,445,000 $481,667 $3,402 4.42%
    $600k-1MM 2 $1,350,000 $675,000 $0 5.25%

    2019 saw Community 1st Credit Union place emphasis on $100,000 or less loans with 643 originations, totaling $30,455,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 279 $16,105,000 $57,724 $1,862 4.04%
    $50k-75k 231 $16,935,000 $73,312 $1,712 3.98%
    $75k-100k 141 $10,855,000 $76,986 $1,622 3.95%
    $100k-150k 128 $11,310,000 $88,359 $1,534 3.70%
    $150k-250k 32 $3,580,000 $111,875 $2,325 3.40%
    $250k+ 5 $425,000 $85,000 $0 2.84%

    Community 1st Credit Union lent most frequently to those with incomes in the $50k or less range, with 279 originations. The second most popular income band? $50k-75k, with 231 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 262 $18,890,000 $72,099 $1,647 3.83%
    30-36% 175 $13,055,000 $74,600 $1,795 4.12%
    <20% 163 $9,145,000 $56,104 $1,721 3.69%
    38% 42 $4,020,000 $95,714 $1,703 4.34%
    37% 35 $2,285,000 $65,286 $1,846 3.90%
    39% 34 $3,060,000 $90,000 $1,696 4.26%
    36% 22 $1,660,000 $75,455 $1,635 4.24%
    40% 16 $1,320,000 $82,500 $1,972 4.02%
    >60% 13 $1,005,000 $77,308 $1,349 3.10%
    41% 13 $915,000 $70,385 $2,112 3.34%
    42% 11 $665,000 $60,455 $2,120 3.51%
    44% 8 $1,050,000 $131,250 $1,400 4.86%
    43% 7 $685,000 $97,857 $2,524 3.91%
    50-60% 6 $670,000 $111,667 $2,385 4.45%
    46% 3 $415,000 $138,333 $3,384 4.21%
    48% 3 $145,000 $48,333 $2,456 3.16%
    49% 2 $200,000 $100,000 $1,932 3.18%
    45% 2 $230,000 $115,000 $1,397 4.43%
    47% 1 $25,000 $25,000 $0 6.50%

    Community 1st Credit Union lent most frequently to those with DTI ratios of 20-30%, with 262 originations. The next most common DTI ratio? 30-36%, with 175 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 808 $58,690,000 $72,636 $1,742 3.92%
    Not applicable 14 $2,610,000 $186,429 $0 5.23%
    Asian 5 $415,000 $83,000 $1,740 3.20%
    Black 4 $190,000 $47,500 $1,861 5.09%
    American Indian 1 $105,000 $105,000 $2,463 5.13%
    Native Hawaiian or Islander 1 $95,000 $95,000 $1,447 3.75%

    Approval Rates

    Total approvals of all applications
    85.58%

    Community 1st Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    60.38%

    Community 1st Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 833 $62,105,000 $74,556

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $1,270,000 $317,500
    Single Family (1-4 Units):Manufactured 11 $715,000 $65,000
    Single Family (1-4 Units):Site-Built 818 $60,120,000 $73,496

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 150 $6,680,000 $44,533 $848 3.37%
    40-60% 79 $5,835,000 $73,861 $1,432 3.89%
    60-80% 166 $17,780,000 $107,108 $1,722 4.40%
    80-100% 278 $26,910,000 $96,799 $2,018 4.42%
    Over 100% 4 $1,110,000 $277,500 $0 4.88%
    Under 20% 156 $3,790,000 $24,295 $224 3.17%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Closing on a mortgage 1 20.0%
    COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Trouble during payment process 3 60.0%
    COMMUNITY BANK SYSTEM, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 1 20.0%