Commonwealth One Federal Credit Union Mortgage Rates, Fees & Info
Alexandria, VALEI: 549300YMV5FVP7DXOG44
Tax ID: 53-0197031
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Mortgage Data
Review & Overview
Commonwealth One Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Commonwealth One Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Harrisonburg, Richmond, Staunton, and Baltimore among others. We have data for 27 markets. (Some data included below & more in-depth data is available with an active subscription.)Commonwealth One Federal 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. Commonwealth One Federal Credit Union is typically an average 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.
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Originations
262Origination Dollar Volume (All Markets)
$49,020,000Awards
COMMONWEALTH ONE FEDERAL CREDIT UNION - 2023
COMMONWEALTH ONE FEDERAL CREDIT UNION is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Commonwealth One Federal Credit Union's average 30 year fixed mortgage rate was
5.69%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.79%.
Relative Fees (Closing Costs)
Commonwealth One Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,922.
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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 154 | $29,920,000 | $194,286 | $1,791 | 6.13% |
| HARRISONBURG, VA (FHA|USDA|VA) | 37 | $5,535,000 | $149,595 | $2,198 | 5.97% |
| RICHMOND, VA (FHA|USDA|VA) | 8 | $2,080,000 | $260,000 | $2,630 | 6.15% |
| Outside of Metro Areas | 9 | $1,845,000 | $205,000 | $2,335 | 5.55% |
| STAUNTON, VA (FHA|USDA|VA) | 10 | $1,790,000 | $179,000 | $2,503 | 5.96% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 8 | $1,510,000 | $188,750 | $2,614 | 6.41% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $1,741 | 6.56% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $2,132 | 6.02% |
| ROANOKE, VA (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $2,059 | 6.21% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $4,968 | 6.06% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $4,411 | 6.18% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,950 | 6.00% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $6,487 | 4.63% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $999 | 7.16% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,593 | 5.63% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $737 | 7.63% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,728 | 6.38% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,695 | 5.38% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $700 | 7.21% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $713 | 4.51% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,025 | 7.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,006 | 7.74% |
| CHARLESTON, WV (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,020 | 8.25% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,902 | 7.38% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $834 | 5.75% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,000 | 7.00% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $716 | 4.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against COMMONWEALTH ONE FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 12
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 262 | $49,020,000 | $187,099 | $2,018 | 6.13% |
For 2023, Commonwealth One Federal Credit Union's most frequently originated type of loan was Conventional, with 262 originations.
Loan Reason
For 2023, Commonwealth One Federal Credit Union's most frequently cited loan purpose was Other, with 73 originations. The 2nd most popular reason was Home Purchase, with 72 originations.
Loan Duration/Length
For 2023, Commonwealth One Federal Credit Union's most frequently cited loan duration was 30 Year, with 79 originations. The 2nd most popular length was 15 Year, with 61 originations.
Origination Fees/Closing Costs
Commonwealth One Federal Credit Union's average total fees were $4,922, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 173 originations.
Interest Rates
During 2023, Commonwealth One Federal Credit Union's average interest rate for loans was 5.69%, while their most frequently originated rate bucket for loans was 5-6%, with 112 originations.
Loan Sizing
2023 saw Commonwealth One Federal Credit Union place emphasis on $100,000 or less loans with 112 originations, totaling $6,390,000 in origination value.
Applicant Income
Commonwealth One Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 88 originations. The second most popular income band? $100k-150k, with 72 originations.
Applicant Debt to Income Ratio
Commonwealth One Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 47 originations. The next most common DTI ratio? 20-30%, with 36 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.30%
Commonwealth One Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination85.50%
Commonwealth One Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 262 | $49,020,000 | $187,099 |