Cfcu Community Credit Union Mortgage Rates, Fees & Info

Ithaca, NY

LEI: 549300ZZIAVB1U6Z4S78

Tax ID: 15-0574036

5 stars - Updated: 10/29/24 - out of 5 stars, based on 21 reviews

Latest/2023 | 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 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.

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 6.01% 10/29/24
30 Year Conventional Refi 5.96% 10/29/24
30 Year Cash-out Refi 5.92% 10/29/24
30 Year FHA Purchase 6.74% 10/29/24
30 Year VA Purchase 5.99% 10/29/24
15 Year Conventional Purchase 5.28% 10/29/24
15 Year Conventional Refi 5.34% 10/29/24
15 Year Cash-out Refi 5.34% 10/29/24
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






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

433

Origination Dollar Volume (All Markets)

$81,285,000

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 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%
Cfcu Community Credit Union's top markets include Ithaca, Cortland, Syracuse, Auburn, and Seneca Falls 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: 30
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    Similarity Rank: 49
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    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 228 $63,210,000 $277,237 $459 5.88%
    Home Improvement 83 $4,365,000 $52,590 $0 6.13%
    Other 82 $4,310,000 $52,561 $0 6.12%
    Refi 27 $7,085,000 $262,407 $0 6.25%
    Cash Out Refi 13 $2,315,000 $178,077 $1,113 5.98%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 219 $56,345,000 $257,283 $472 5.84%
    10 Year 64 $3,830,000 $59,844 $30 6.08%
    5 Year 50 $1,800,000 $36,000 $0 5.59%
    20 Year 46 $10,220,000 $222,174 $0 6.73%
    15 Year 33 $3,515,000 $106,515 $267 6.44%
    Other 21 $5,575,000 $265,476 $0 6.08%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 176 $8,270,000 $46,989 $41 6.10%
    $100k-200k 108 $15,700,000 $145,370 $409 6.13%
    $200k-400k 106 $30,350,000 $286,321 $522 5.77%
    $400k-600k 30 $14,130,000 $471,000 $367 5.83%
    $1MM+ 7 $8,365,000 $1,195,000 $0 6.02%
    $600k-1MM 6 $4,470,000 $745,000 $976 5.46%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 112 $18,510,000 $165,268 $363 5.90%
    $150k-250k 80 $18,270,000 $228,375 $369 5.90%
    $50k-75k 79 $8,225,000 $104,114 $226 6.14%
    $75k-100k 74 $8,210,000 $110,946 $219 5.97%
    $50k or less 34 $3,270,000 $96,176 $55 6.17%
    $250k+ 29 $12,765,000 $440,172 $319 5.71%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 105 $18,215,000 $173,476 $293 5.84%
    30-36% 64 $11,610,000 $181,406 $334 6.02%
    <20% 39 $5,855,000 $150,128 $251 5.96%
    36% 22 $3,590,000 $163,182 $303 5.77%
    50-60% 19 $875,000 $46,053 $0 6.37%
    39% 18 $3,980,000 $221,111 $499 6.16%
    37% 17 $2,745,000 $161,471 $316 5.90%
    38% 16 $2,380,000 $148,750 $643 5.80%
    40% 15 $3,135,000 $209,000 $687 5.97%
    41% 14 $2,290,000 $163,571 $452 6.00%
    48% 14 $2,530,000 $180,714 $0 6.13%
    43% 11 $1,425,000 $129,545 $0 6.06%
    47% 10 $2,190,000 $219,000 $0 6.00%
    44% 9 $1,455,000 $161,667 $2 6.03%
    49% 9 $1,975,000 $219,444 $0 5.81%
    45% 8 $1,080,000 $135,000 $148 6.22%
    46% 8 $2,200,000 $275,000 $488 6.09%
    42% 6 $750,000 $125,000 $0 5.85%
    >60% 3 $845,000 $281,667 $0 6.25%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 332 $54,000,000 $162,651 $307 5.98%
    Not applicable 25 $12,035,000 $481,400 $0 6.49%
    Not provided 52 $7,390,000 $142,115 $194 5.89%
    Asian 15 $4,945,000 $329,667 $0 5.87%
    Black 7 $1,835,000 $262,143 $604 6.23%
    Asian Indian 2 $1,080,000 $540,000 $0 5.25%

    Approval Rates

    Total approvals of all applications
    92.12%

    Cfcu Community Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.76%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    433 $81,285,000 $187,725

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 63 $4,245,000 $67,381 $40 6.17%
    40-60% 42 $6,950,000 $165,476 $346 6.06%
    60-80% 104 $30,340,000 $291,731 $450 5.97%
    80-100% 136 $35,750,000 $262,868 $471 5.92%
    Under 20% 88 $4,000,000 $45,455 $0 6.00%