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, 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.01% | 11/21/24 |
| 30 Year Conventional Refi | 5.96% | 11/21/24 |
| 30 Year Cash-out Refi | 5.92% | 11/21/24 |
| 30 Year FHA Purchase | 6.74% | 11/21/24 |
| 30 Year VA Purchase | 5.99% | 11/21/24 |
| 15 Year Conventional Purchase | 5.28% | 11/21/24 |
| 15 Year Conventional Refi | 5.34% | 11/21/24 |
| 15 Year Cash-out Refi | 5.34% | 11/21/24 |
| 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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This is not an official calculator from Cfcu Community Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
710Origination Dollar Volume (All Markets)
$132,270,000Top 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% |
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.
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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
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
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
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
2020 saw Cfcu Community Credit Union place emphasis on $100k-200k loans with 348 originations, totaling $52,190,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications97.55%
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 origination93.38%
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
LTV Distribution
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% |