Cfcu Community Credit Union Mortgage Rates, Fees & Info
Ithaca, NYLEI: 549300ZZIAVB1U6Z4S78
Tax ID: 15-0574036
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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 Seneca Falls among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)Cfcu Community Credit Union has an above average approval rate when compared to the average across all lenders. They have an above 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.01% | 11/17/24 |
| 30 Year Conventional Refi | 5.96% | 11/17/24 |
| 30 Year Cash-out Refi | 5.92% | 11/17/24 |
| 30 Year FHA Purchase | 6.74% | 11/17/24 |
| 30 Year VA Purchase | 5.99% | 11/17/24 |
| 15 Year Conventional Purchase | 5.28% | 11/17/24 |
| 15 Year Conventional Refi | 5.34% | 11/17/24 |
| 15 Year Cash-out Refi | 5.34% | 11/17/24 |
| 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
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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
433Origination Dollar Volume (All Markets)
$81,285,000Awards
CFCU Community Credit Union - 2023
CFCU Community 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
Cfcu Community Credit Union's average 30 year fixed mortgage rate was
5.84%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.64%.
Relative Fees (Closing Costs)
Cfcu Community Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $472.
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 |
|---|---|---|---|---|---|
| ITHACA, NY (FHA|USDA|VA) | 234 | $50,450,000 | $215,598 | $296 | 5.84% |
| Cortland, NY (FHA|USDA|VA) | 97 | $17,565,000 | $181,082 | $374 | 6.23% |
| SYRACUSE, NY (FHA|USDA|VA) | 43 | $4,935,000 | $114,767 | $194 | 6.29% |
| Auburn, NY (FHA|USDA|VA) | 19 | $3,345,000 | $176,053 | $278 | 6.00% |
| Seneca Falls, NY (FHA|USDA|VA) | 8 | $1,180,000 | $147,500 | $0 | 6.03% |
| BINGHAMTON, NY (FHA|USDA|VA) | 11 | $1,075,000 | $97,727 | $282 | 6.30% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $638 | 5.79% |
| Outside of Metro Areas | 9 | $895,000 | $99,444 | $0 | 5.67% |
| ROCHESTER, NY (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 6.25% |
| WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 6.13% |
| UTICA-ROME, NY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 5.88% |
| Oneonta, NY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 6.50% |
| Corning, NY (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.38% |
| ELMIRA, NY (FHA|USDA|VA) | 2 | $50,000 | $25,000 | $0 | 6.25% |
| Amsterdam, NY (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 6.25% |
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.
Similarity Rank: 30
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Similarity Rank: 282
Similarity Rank: 544
Similarity Rank: 851
Similarity Rank: 969
Similarity Rank: 972
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 429 | $80,555,000 | $187,774 | $248 | 5.99% |
| FHA | 2 | $280,000 | $140,000 | $2,115 | 6.69% |
| VA | 2 | $450,000 | $225,000 | $5,724 | 6.31% |
For 2023, Cfcu Community Credit Union's most frequently originated type of loan was Conventional, with 429 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
For 2023, Cfcu Community Credit Union's most frequently cited loan purpose was Home Purchase, with 228 originations. The 2nd most popular reason was Home Improvement, with 83 originations.
Loan Duration/Length
For 2023, Cfcu Community Credit Union's most frequently cited loan duration was 30 Year, with 219 originations. The 2nd most popular length was 10 Year, with 64 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 394 | $66,310,000 | $168,299 |
| $1k-2k | 3 | $855,000 | $285,000 |
| $2k-3k | 3 | $515,000 | $171,667 |
| $5k+ | 1 | $265,000 | $265,000 |
Cfcu Community Credit Union's average total fees were $472, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 394 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 233 | $44,435,000 | $190,708 |
| 6-7% | 154 | $25,520,000 | $165,714 |
| 4-5% | 28 | $9,230,000 | $329,643 |
| 7-8% | 17 | $2,005,000 | $117,941 |
| 3-4% | 1 | $95,000 | $95,000 |
During 2023, Cfcu Community Credit Union's average interest rate for loans was 5.84%, while their most frequently originated rate bucket for loans was 5-6%, with 233 originations.
Loan Sizing
2023 saw Cfcu Community Credit Union place emphasis on $100,000 or less loans with 176 originations, totaling $8,270,000 in origination value.
Applicant Income
Cfcu Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 112 originations. The second most popular income band? $150k-250k, with 80 originations.
Applicant Debt to Income Ratio
Cfcu Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 105 originations. The next most common DTI ratio? 30-36%, with 64 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.12%
Cfcu Community Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination90.76%
Cfcu Community Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $35,000 | $35,000 |
| NA | 432 | $81,250,000 | $188,079 |