Commonwealth One Federal Credit Union Mortgage Rates, Fees & Info
Alexandria, VALEI: 549300YMV5FVP7DXOG44
Tax ID: 53-0197031
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Commonwealth One Federal Credit Union is a smaller credit union specializing in Other and 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 Charlotte among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Commonwealth One Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Commonwealth One Federal 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 | 6.54% | 4/16/25 |
| 30 Year Cash-out Refi | 6.01% | 4/16/25 |
| 15 Year Conventional Purchase | 6.00% | 4/16/25 |
| 15 Year Conventional Refi | 6.56% | 4/16/25 |
| 15 Year Cash-out Refi | 6.56% | 4/16/25 |
| 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. | ||
Commonwealth One Federal Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Commonwealth One Federal 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
106Origination Dollar Volume (All Markets)
$13,850,000Relative Rate
Commonwealth One Federal Credit Union's average 30 year fixed mortgage rate was
6.65%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.1%.
Relative Fees (Closing Costs)
Commonwealth One Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,526.
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 $8,356.
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) | 64 | $6,920,000 | $108,125 | $1,063 | 7.72% |
| HARRISONBURG, VA (FHA|USDA|VA) | 15 | $2,355,000 | $157,000 | $1,713 | 6.98% |
| RICHMOND, VA (FHA|USDA|VA) | 5 | $1,085,000 | $217,000 | $2,498 | 7.38% |
| STAUNTON, VA (FHA|USDA|VA) | 6 | $920,000 | $153,333 | $2,368 | 7.44% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $3,640 | 7.31% |
| Outside of Metro Areas | 5 | $485,000 | $97,000 | $1,879 | 7.08% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $5,155 | 6.69% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $4,887 | 7.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $2,457 | 6.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,500 | 7.00% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $495 | 8.24% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,560 | 6.13% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $720 | 11.64% |
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: 44
Similarity Rank: 88
Similarity Rank: 168
Similarity Rank: 345
Similarity Rank: 605
Similarity Rank: 816
Similarity Rank: 960
Similarity Rank: 1221
Similarity Rank: 1518
Similarity Rank: 1880
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 106 | $13,850,000 | $130,660 | $1,575 | 7.52% |
For 2024, Commonwealth One Federal Credit Union's most frequently originated type of loan was Conventional, with 106 originations.
Loan Reason
For 2024, Commonwealth One Federal Credit Union's most frequently cited loan purpose was Other, with 44 originations. The 2nd most popular reason was Home Improvement, with 29 originations.
Loan Duration/Length
For 2024, Commonwealth One Federal Credit Union's most frequently cited loan duration was 15 Year, with 30 originations. The 2nd most popular length was 30 Year, with 27 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 78 | $6,790,000 | $87,051 |
| $1k-2k | 25 | $6,455,000 | $258,200 |
| $2k-3k | 1 | $255,000 | $255,000 |
| $3k-4k | 1 | $305,000 | $305,000 |
Commonwealth One Federal Credit Union's average total fees were $4,526, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 78 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 43 | $8,125,000 | $188,953 |
| 7-8% | 39 | $3,105,000 | $79,615 |
| Over 8% | 24 | $2,620,000 | $109,167 |
During 2024, Commonwealth One Federal Credit Union's average interest rate for loans was 6.65%, while their most frequently originated rate bucket for loans was 6-7%, with 43 originations.
Loan Sizing
2024 saw Commonwealth One Federal Credit Union place emphasis on $100,000 or less loans with 61 originations, totaling $3,615,000 in origination value.
Applicant Income
Commonwealth One Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 37 originations. The second most popular income band? $100k-150k, with 28 originations.
Applicant Debt to Income Ratio
Commonwealth One Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 23 originations. The next most common DTI ratio? 20-30%, with 22 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications58.38%
Commonwealth One Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination91.51%
Commonwealth One Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 106 | $13,850,000 | $130,660 |