Cfcu Community Credit Union Mortgage Rates, Fees & Info

Ithaca, NY

LEI: 549300ZZIAVB1U6Z4S78

Tax ID: 15-0574036

5 stars - out of 5 stars, based on 25 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Cfcu Community Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Cfcu Community Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Ithaca, Cortland, Auburn, Binghamton, and Syracuse among others. Cfcu Community Credit Union has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Cfcu Community Credit Union is typically a low fee lendor.


Originations

634

Origination Dollar Volume (All Markets)

$112,620,000
Show all (7) awards

Relative Rate

Cfcu Community Credit Union's average 30 year fixed rate mortgage of loans were 3.04%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.11%.

Relative Fees

Cfcu Community Credit Union's average total fees for a 30 year fixed rate mortgage are $1,778.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ITHACA, NY (FHA|USDA|VA) 373 $74,295,000 $199,182 $1,599 2.95%
Cortland, NY (FHA|USDA|VA) 132 $19,130,000 $144,924 $1,349 3.04%
Auburn, NY (FHA|USDA|VA) 34 $6,180,000 $181,765 $1,345 2.93%
BINGHAMTON, NY (FHA|USDA|VA) 44 $5,200,000 $118,182 $1,246 3.05%
SYRACUSE, NY (FHA|USDA|VA) 12 $2,300,000 $191,667 $1,735 3.14%
Outside of Metro Areas 17 $2,125,000 $125,000 $999 3.10%
Seneca Falls, NY (FHA|USDA|VA) 13 $1,825,000 $140,385 $1,425 3.04%
ELMIRA, NY (FHA|USDA|VA) 5 $805,000 $161,000 $1,867 3.23%
ROCHESTER, NY (FHA|USDA|VA) 4 $760,000 $190,000 $1,677 3.13%

Cfcu Community Credit Union's top markets include Ithaca, Cortland, Auburn, Binghamton, and Syracuse among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 619 $110,465,000 $178,457 $1,412 2.98%
FHA 10 $1,230,000 $123,000 $3,868 3.13%
VA 4 $750,000 $187,500 $7,145 3.13%
USDA 1 $175,000 $175,000 $3,569 3.13%

For the 2021 period, Cfcu Community Credit Union's most frequently originated loan type of loans were Conventional, with 619 originations. Their 2nd most popular type is FHA, with 10 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 237 $48,245,000 $203,565 $1,696 3.06%
Refi 118 $23,550,000 $199,576 $1,705 2.83%
Other 116 $17,740,000 $152,931 $1,196 2.90%
Cash Out Refi 100 $16,510,000 $165,100 $1,523 2.83%
Home Improvement 63 $6,575,000 $104,365 $936 3.42%

For the 2021, Cfcu Community Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 237 originations. The 2nd most popular reason of loans were Refi, with 118 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 305 $60,645,000 $198,836 $1,778 3.04%
15 Year 185 $30,135,000 $162,892 $1,425 2.69%
20 Year 56 $11,530,000 $205,893 $1,801 3.05%
10 Year 50 $4,480,000 $89,600 $562 3.30%
5 Year 23 $885,000 $38,478 $0 3.33%
Other 13 $4,555,000 $350,385 $118 3.59%
3 Year 1 $25,000 $25,000 $0 4.90%
30+ year 1 $365,000 $365,000 $4,161 3.88%

For the 2021, Cfcu Community Credit Union's most frequently cited loan length of loans were 30 Year, with 305 originations. The 2nd most popular length of loans were 15 Year, with 185 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 523 $82,475,000 $157,696
$1k-2k 53 $11,445,000 $215,943
$2k-3k 19 $5,045,000 $265,526
$3k-4k 10 $2,680,000 $268,000
$5k+ 1 $285,000 $285,000

$1,778 of loans were Cfcu Community Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 523 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 301 $56,335,000 $187,159
3-4% 210 $35,810,000 $170,524
<2.5% 104 $18,410,000 $177,019
4-5% 16 $1,910,000 $119,375
5-6% 2 $80,000 $40,000
Over 8% 1 $75,000 $75,000

During 2021, Cfcu Community Credit Union's average interest rate of loans were 3.04%, while their most frequently originated rate bucket of loans were 2.5-3%, with 301 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 290 $41,930,000 $144,586 $1,466 2.92%
$200k-400k 170 $44,350,000 $260,882 $2,205 2.86%
$100,000 or less 146 $9,110,000 $62,397 $578 3.23%
$400k-600k 20 $9,650,000 $482,500 $2,666 3.09%
$600k-1MM 5 $3,925,000 $785,000 $3,635 3.13%
$1MM+ 3 $3,655,000 $1,218,333 $727 3.58%

2021 saw Cfcu Community Credit Union place emphasis on $100k-200k loans with 290 originations, totaling $41,930,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 158 $27,420,000 $173,544 $1,356 2.93%
$50k-75k 155 $21,565,000 $139,129 $1,330 3.05%
$75k-100k 117 $19,445,000 $166,197 $1,441 2.95%
$150k-250k 83 $20,055,000 $241,627 $2,051 2.84%
$50k or less 82 $7,910,000 $96,463 $1,342 3.10%
$250k+ 21 $8,775,000 $417,857 $2,577 2.89%

Cfcu Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 158 originations. The second most popular income band? $50k-75k, with 155 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 169 $28,265,000 $167,249 $1,455 2.95%
30-36% 136 $22,840,000 $167,941 $1,346 2.95%
<20% 105 $19,245,000 $183,286 $1,488 2.87%
41% 25 $5,005,000 $200,200 $1,218 3.09%
36% 22 $3,840,000 $174,545 $1,503 2.98%
37% 19 $2,395,000 $126,053 $1,657 3.00%
40% 19 $3,285,000 $172,895 $1,812 3.05%
42% 18 $2,990,000 $166,111 $1,306 3.01%
38% 18 $2,520,000 $140,000 $1,775 3.24%
44% 18 $3,230,000 $179,444 $1,922 2.90%
43% 16 $2,550,000 $159,375 $1,557 2.91%
39% 14 $2,340,000 $167,143 $1,043 3.10%
45% 8 $1,800,000 $225,000 $1,692 3.23%
47% 8 $1,440,000 $180,000 $2,340 2.98%
46% 7 $1,485,000 $212,143 $2,408 2.80%
49% 6 $840,000 $140,000 $1,911 3.06%
48% 4 $540,000 $135,000 $1,860 3.66%
50-60% 1 $165,000 $165,000 $3,263 3.75%

Cfcu Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 169 originations. The next most common DTI ratio? 30-36%, with 136 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 510 $84,950,000 $166,569 $1,463 2.99%
Not provided 78 $15,190,000 $194,744 $1,665 2.92%
Not applicable 18 $7,450,000 $413,889 $0 3.50%
Asian 16 $3,710,000 $231,875 $1,884 2.70%
American Indian 4 $530,000 $132,500 $1,867 3.03%
Black 5 $515,000 $103,000 $1,077 2.80%
Asian Indian 1 $185,000 $185,000 $0 3.00%
Native Hawaiian 1 $75,000 $75,000 $1,377 2.75%
Vietnamese 1 $15,000 $15,000 $0 4.25%

Approval Rates

Total approvals of all applications
95.17%

Cfcu Community Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
92.96%

Cfcu Community Credit Union has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 634 $112,620,000 $177,634

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
634 $112,620,000 $177,634

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 65 $5,655,000 $87,000 $829 2.94%
40-60% 117 $18,345,000 $156,795 $1,345 2.78%
60-80% 233 $47,325,000 $203,112 $1,904 2.95%
80-100% 186 $39,420,000 $211,935 $1,569 3.05%
Over 100% 1 $125,000 $125,000 $4,255 3.13%
Under 20% 30 $970,000 $32,333 $0 3.74%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
CBC Companies, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 50.0%
CBC Companies, Inc. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 12.5%
CBC Companies, Inc. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 25.0%
CBC Companies, Inc. Other type of mortgage Incorrect information on your report 1 12.5%