Commonwealth One Federal Credit Union Mortgage Rates, Fees & Info
Alexandria, VALEI: 549300YMV5FVP7DXOG44
Tax ID: 53-0197031
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Commonwealth One Federal Credit Union is a smaller credit union specializing in Other and Home Improvement loans. Commonwealth One Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Harrisonburg, Salisbury, Charlottesville, and Staunton among others. We have data for 12 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.
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Originations
74Origination Dollar Volume (All Markets)
$8,470,000Top 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) | 44 | $6,370,000 | $144,773 | $0 | 0.00% |
| HARRISONBURG, VA (FHA|USDA|VA) | 14 | $840,000 | $60,000 | $0 | 0.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| STAUNTON, VA (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $75,000 | $25,000 | $0 | 0.00% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 74 | $8,470,000 | $114,459 | $0 | 0.00% |
For 2020, Commonwealth One Federal Credit Union's most frequently originated type of loan was Conventional, with 74 originations.
Loan Reason
For 2020, Commonwealth One Federal Credit Union's most frequently cited loan purpose was Other, with 30 originations. The 2nd most popular reason was Home Improvement, with 26 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 74 | $8,470,000 | $114,459 | $0 | 0.00% |
For 2020, Commonwealth One Federal Credit Union's most frequently cited loan duration was Other, with 74 originations.
Loan Sizing
2020 saw Commonwealth One Federal Credit Union place emphasis on $100,000 or less loans with 53 originations, totaling $2,575,000 in origination value.
Applicant Income
Commonwealth One Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $150k-250k, with 16 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 74 | $8,470,000 | $114,459 | $0 | 0.00% |
Commonwealth One Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 74 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.37%
Commonwealth One Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination64.86%
Commonwealth One Federal 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 |
|---|---|---|---|
| Exempt | 74 | $8,470,000 | $114,459 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 74 | $8,470,000 | $114,459 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Common Wealth Mortgage Services | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| Common Wealth Mortgage Services | VA mortgage | Credit monitoring or identity theft protection services | 1 | 50.0% |