Cfcu Community Credit Union Mortgage Rates, Fees & Info

Ithaca, NY

LEI: 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, Auburn, Seneca Falls, and Binghamton 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 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 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.01% 3/28/24
30 Year Conventional Refi 5.96% 3/28/24
30 Year Cash-out Refi 5.92% 3/28/24
30 Year FHA Purchase 6.74% 3/28/24
30 Year VA Purchase 5.99% 3/28/24
15 Year Conventional Purchase 5.28% 3/28/24
15 Year Conventional Refi 5.34% 3/28/24
15 Year Cash-out Refi 5.34% 3/28/24
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

710

Origination Dollar Volume (All Markets)

$132,270,000

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) 448 $94,890,000 $211,808 $0 3.13%
Cortland, NY (FHA|USDA|VA) 127 $17,175,000 $135,236 $0 3.32%
Auburn, NY (FHA|USDA|VA) 30 $4,760,000 $158,667 $0 3.46%
Outside of Metro Areas 21 $3,575,000 $170,238 $0 3.12%
Seneca Falls, NY (FHA|USDA|VA) 24 $3,570,000 $148,750 $0 3.11%
BINGHAMTON, NY (FHA|USDA|VA) 29 $3,565,000 $122,931 $0 3.13%
SYRACUSE, NY (FHA|USDA|VA) 14 $2,100,000 $150,000 $0 3.21%
ROCHESTER, NY (FHA|USDA|VA) 9 $1,225,000 $136,111 $0 3.06%
ELMIRA, NY (FHA|USDA|VA) 5 $825,000 $165,000 $0 3.13%
Gloversville, NY (FHA|USDA|VA) 1 $375,000 $375,000 $0 3.00%
Oneonta, NY (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.38%
Corning, NY (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.25%
Cfcu Community Credit Union's top markets include Ithaca, Cortland, Auburn, Seneca Falls, and Binghamton among others.

Their top states include:
  • New York (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 696 $129,870,000 $186,595 $0 3.18%
    FHA 11 $1,775,000 $161,364 $0 3.41%
    VA 3 $625,000 $208,333 $0 3.21%

    For 2020, Cfcu Community Credit Union's most frequently originated type of loan was Conventional, with 696 originations. Their 2nd most popular type was FHA, with 11 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 261 $54,645,000 $209,368 $0 3.26%
    Other 155 $25,395,000 $163,839 $0 3.11%
    Refi 139 $25,745,000 $185,216 $0 3.17%
    Cash Out Refi 115 $22,185,000 $192,913 $0 2.98%
    Home Improvement 40 $4,300,000 $107,500 $0 3.52%

    For 2020, Cfcu Community Credit Union's most frequently cited loan purpose was Home Purchase, with 261 originations. The 2nd most popular reason was Other, with 155 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 386 $80,960,000 $209,741 $0 3.21%
    15 Year 172 $29,590,000 $172,035 $0 2.93%
    20 Year 70 $12,370,000 $176,714 $0 3.27%
    10 Year 51 $5,325,000 $104,412 $0 3.42%
    5 Year 17 $615,000 $36,176 $0 3.51%
    Other 8 $2,080,000 $260,000 $0 4.27%
    30+ year 6 $1,330,000 $221,667 $0 3.35%

    For 2020, Cfcu Community Credit Union's most frequently cited loan duration was 30 Year, with 386 originations. The 2nd most popular length was 15 Year, with 172 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 682 $126,260,000 $185,132

    Cfcu Community Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 682 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 397 $74,895,000 $188,652
    2.5-3% 273 $50,395,000 $184,597
    <2.5% 19 $4,735,000 $249,211
    4-5% 18 $2,180,000 $121,111
    5-6% 1 $15,000 $15,000
    6-7% 1 $35,000 $35,000
    Over 8% 1 $15,000 $15,000

    During 2020, Cfcu Community Credit Union's average interest rate for loans was 3.21%, while their most frequently originated rate bucket for loans was 3-4%, with 397 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 348 $52,190,000 $149,971 $0 3.14%
    $200k-400k 205 $54,055,000 $263,683 $0 3.12%
    $100,000 or less 125 $8,335,000 $66,680 $0 3.43%
    $400k-600k 23 $10,375,000 $451,087 $0 3.07%
    $600k-1MM 7 $5,225,000 $746,429 $0 2.84%
    $1MM+ 2 $2,090,000 $1,045,000 $0 2.94%

    2020 saw Cfcu Community Credit Union place emphasis on $100k-200k loans with 348 originations, totaling $52,190,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 199 $38,175,000 $191,834 $0 3.14%
    $50k-75k 153 $20,505,000 $134,020 $0 3.26%
    $75k-100k 121 $20,205,000 $166,983 $0 3.12%
    $150k-250k 109 $27,775,000 $254,817 $0 3.14%
    $50k or less 72 $7,810,000 $108,472 $0 3.27%
    $250k+ 31 $12,155,000 $392,097 $0 2.86%

    Cfcu Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 199 originations. The second most popular income band? $50k-75k, with 153 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 231 $39,965,000 $173,009 $0 3.10%
    30-36% 138 $26,580,000 $192,609 $0 3.25%
    <20% 90 $17,230,000 $191,444 $0 2.99%
    36% 28 $5,530,000 $197,500 $0 3.13%
    39% 27 $4,545,000 $168,333 $0 3.20%
    40% 21 $4,395,000 $209,286 $0 3.26%
    41% 21 $3,855,000 $183,571 $0 3.07%
    42% 20 $4,420,000 $221,000 $0 3.17%
    38% 18 $2,780,000 $154,444 $0 3.40%
    44% 16 $2,880,000 $180,000 $0 3.28%
    43% 14 $2,540,000 $181,429 $0 3.11%
    37% 13 $2,815,000 $216,538 $0 3.16%
    45% 11 $1,845,000 $167,727 $0 3.53%
    46% 10 $1,660,000 $166,000 $0 3.28%
    48% 8 $1,830,000 $228,750 $0 3.47%
    47% 5 $895,000 $179,000 $0 3.13%
    49% 4 $790,000 $197,500 $0 3.06%
    50-60% 3 $555,000 $185,000 $0 5.54%
    >60% 1 $375,000 $375,000 $0 2.00%

    Cfcu Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 231 originations. The next most common DTI ratio? 30-36%, with 138 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 550 $99,290,000 $180,527 $0 3.18%
    Not provided 103 $18,325,000 $177,913 $0 3.10%
    Asian 20 $6,250,000 $312,500 $0 3.08%
    Not applicable 21 $4,915,000 $234,048 $0 3.74%
    Black 11 $2,665,000 $242,273 $0 3.17%
    Other Asian 2 $290,000 $145,000 $0 3.19%
    Asian Indian 2 $270,000 $135,000 $0 3.75%
    Native Hawaiian or Islander 1 $265,000 $265,000 $0 2.63%

    Approval Rates

    Total approvals of all applications
    97.55%

    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
    93.38%

    Cfcu Community Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 710 $132,270,000 $186,296

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $2,175,000 $435,000
    Single Family (1-4 Units):Manufactured 10 $1,000,000 $100,000
    Single Family (1-4 Units):Site-Built 695 $129,095,000 $185,748

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 59 $6,545,000 $110,932 $0 3.24%
    40-60% 101 $16,545,000 $163,812 $0 3.06%
    60-80% 250 $48,670,000 $194,680 $0 3.13%
    80-100% 271 $57,975,000 $213,930 $0 3.21%
    Over 100% 1 $235,000 $235,000 $0 3.13%
    Under 20% 18 $550,000 $30,556 $0 3.95%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CBC Companies, Inc. Conventional home mortgage Incorrect information on your report 1 100.0%