Cfcu Community Credit Union Mortgage Rates, Fees & Info

Ithaca, NY

LEI: 549300ZZIAVB1U6Z4S78

Tax ID: 15-0574036

5 stars - Updated: 4/5/25 - out of 5 stars, based on 19 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Cfcu Community Credit Union is a smaller credit union specializing in Home Purchase 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.) Their top markets by origination volume include: Ithaca, Cortland, Syracuse, Auburn, and Rochester among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Cfcu Community Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Cfcu Community 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 6.02% 4/5/25
30 Year Conventional Refi 6.01% 4/5/25
30 Year Cash-out Refi 6.00% 4/5/25
30 Year FHA Purchase 7.30% 4/5/25
30 Year VA Purchase 6.72% 4/5/25
15 Year Conventional Purchase 5.82% 4/5/25
15 Year Conventional Refi 6.16% 4/5/25
15 Year Cash-out Refi 6.16% 4/5/25
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.

Cfcu Community Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Cfcu Community 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

380

Origination Dollar Volume (All Markets)

$77,590,000

Awards

CFCU Community Credit Union 30 Year Conventional Loans gold CFCU Community Credit Union 30 Year Conventional Loans gold CFCU Community Credit Union 30 Year Conventional Loans gold CFCU Community Credit Union 30 Year Conventional Loans gold
Show all (4) awards

Relative Rate

Cfcu Community Credit Union's average 30 year fixed mortgage rate was 6%.

The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

This yields a difference of -0.55%.

Relative Fees (Closing Costs)

Cfcu Community Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $348.

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
ITHACA, NY (FHA|USDA|VA) 192 $46,540,000 $242,396 $300 6.15%
Cortland, NY (FHA|USDA|VA) 85 $15,835,000 $186,294 $119 6.52%
SYRACUSE, NY (FHA|USDA|VA) 31 $4,175,000 $134,677 $246 6.42%
Auburn, NY (FHA|USDA|VA) 17 $2,315,000 $136,176 $33 6.67%
Outside of Metro Areas 12 $2,080,000 $173,333 $0 6.74%
ROCHESTER, NY (FHA|USDA|VA) 8 $1,680,000 $210,000 $0 6.31%
BINGHAMTON, NY (FHA|USDA|VA) 14 $1,550,000 $110,714 $102 6.44%
Seneca Falls, NY (FHA|USDA|VA) 10 $1,380,000 $138,000 $0 6.31%
ELMIRA, NY (FHA|USDA|VA) 5 $1,015,000 $203,000 $521 5.85%
Malone, NY (FHA|USDA|VA) 2 $500,000 $250,000 $0 5.75%
Corning, NY (FHA|USDA|VA) 3 $435,000 $145,000 $0 6.33%
UTICA-ROME, NY (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.00%
Cfcu Community Credit Union's top markets include Ithaca, Cortland, Syracuse, Auburn, and Rochester among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against CFCU Community Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    CFCU Community Credit Union
    Similarity Rank: 24
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    Similarity Rank: 135
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 377 $77,075,000 $204,443 $218 6.31%
    FHA 3 $515,000 $171,667 $0 6.29%

    For 2024, Cfcu Community Credit Union's most frequently originated type of loan was Conventional, with 377 originations. Their 2nd most popular type was FHA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 213 $59,225,000 $278,052 $365 6.02%
    Home Improvement 72 $4,480,000 $62,222 $35 6.69%
    Other 56 $3,680,000 $65,714 $0 6.86%
    Refi 22 $8,040,000 $365,455 $0 6.69%
    Cash Out Refi 17 $2,165,000 $127,353 $0 6.18%

    For 2024, Cfcu Community Credit Union's most frequently cited loan purpose was Home Purchase, with 213 originations. The 2nd most popular reason was Home Improvement, with 72 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 215 $57,285,000 $266,442 $348 6.00%
    5 Year 51 $2,035,000 $39,902 $0 6.40%
    10 Year 50 $3,120,000 $62,400 $0 6.86%
    15 Year 35 $4,325,000 $123,571 $71 6.81%
    20 Year 23 $9,245,000 $401,957 $0 7.03%
    Other 6 $1,580,000 $263,333 $0 6.79%

    For 2024, Cfcu Community Credit Union's most frequently cited loan duration was 30 Year, with 215 originations. The 2nd most popular length was 5 Year, with 51 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 356 $67,540,000 $189,719
    $3k-4k 1 $205,000 $205,000

    Cfcu Community Credit Union's average total fees were $348, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 356 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 185 $48,175,000 $260,405
    6-7% 149 $23,655,000 $158,758
    7-8% 43 $5,445,000 $126,628
    Over 8% 2 $160,000 $80,000
    4-5% 1 $155,000 $155,000

    During 2024, Cfcu Community Credit Union's average interest rate for loans was 6.00%, while their most frequently originated rate bucket for loans was 5-6%, with 185 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 126 $5,910,000 $46,905 $12 6.77%
    $200k-400k 113 $31,605,000 $279,690 $375 5.97%
    $100k-200k 98 $14,340,000 $146,327 $149 6.26%
    $400k-600k 31 $14,755,000 $475,968 $783 5.95%
    $600k-1MM 9 $6,885,000 $765,000 $0 5.93%
    $1MM+ 3 $4,095,000 $1,365,000 $0 6.75%

    2024 saw Cfcu Community Credit Union place emphasis on $100,000 or less loans with 126 originations, totaling $5,910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 105 $5,725,000 $54,524 $47 6.75%
    $100k-150k 78 $18,920,000 $242,564 $354 6.02%
    $150k-250k 49 $14,845,000 $302,959 $330 5.98%
    $75k-100k 48 $7,580,000 $157,917 $180 6.26%
    $50k-75k 45 $5,995,000 $133,222 $52 6.35%
    $250k+ 35 $15,325,000 $437,857 $521 5.92%

    Cfcu Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 105 originations. The second most popular income band? $100k-150k, with 78 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 92 $17,510,000 $190,326 $277 6.32%
    30-36% 77 $13,425,000 $174,351 $229 6.25%
    <20% 38 $8,050,000 $211,842 $196 6.21%
    50-60% 22 $1,180,000 $53,636 $0 6.95%
    44% 16 $3,700,000 $231,250 $270 6.19%
    42% 12 $2,950,000 $245,833 $217 6.15%
    36% 12 $2,740,000 $228,333 $197 6.13%
    41% 12 $2,540,000 $211,667 $0 6.19%
    43% 11 $2,435,000 $221,364 $335 5.89%
    38% 11 $2,575,000 $234,091 $415 6.06%
    37% 10 $2,530,000 $253,000 $211 5.89%
    39% 9 $1,425,000 $158,333 $228 6.33%
    45% 9 $1,375,000 $152,778 $264 6.62%
    40% 8 $1,580,000 $197,500 $0 6.34%
    46% 6 $760,000 $126,667 $0 6.62%
    49% 5 $705,000 $141,000 $560 6.37%
    48% 4 $610,000 $152,500 $0 6.91%
    47% 3 $975,000 $325,000 $0 5.83%
    >60% 2 $1,140,000 $570,000 $0 6.00%

    Cfcu Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 92 originations. The next most common DTI ratio? 30-36%, with 77 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 288 $52,130,000 $181,007 $154 6.30%
    Not provided 51 $12,275,000 $240,686 $462 6.35%
    Not applicable 15 $5,465,000 $364,333 $0 6.72%
    Asian 12 $3,840,000 $320,000 $224 6.00%
    Asian Indian 3 $1,725,000 $575,000 $988 5.92%
    Black 6 $870,000 $145,000 $393 6.56%
    Other Asian 2 $580,000 $290,000 $0 6.25%
    American Indian 2 $420,000 $210,000 $954 6.19%
    Korean 1 $285,000 $285,000 $2,055 5.75%

    Approval Rates

    Total approvals of all applications
    89.42%

    Cfcu Community Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.32%

    Cfcu Community Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 380 $77,590,000 $204,184

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    380 $77,590,000 $204,184

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 54 $4,360,000 $80,741 $72 6.77%
    40-60% 39 $6,725,000 $172,436 $161 6.16%
    60-80% 84 $26,600,000 $316,667 $344 6.26%
    80-100% 135 $37,435,000 $277,296 $335 6.03%
    Under 20% 68 $2,470,000 $36,324 $0 6.68%