Cfcu Community Credit Union Mortgage Rates, Fees & Info

Ithaca, NY

LEI: 549300ZZIAVB1U6Z4S78

Tax ID: 15-0574036

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Cfcu Community Credit Union is a smaller credit union specializing in Home Purchase and Refi 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Ithaca, Cortland, Auburn, Binghamton, and Syracuse among others. We have data for 9 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% 4/21/24
    30 Year Conventional Refi 5.96% 4/21/24
    30 Year Cash-out Refi 5.92% 4/21/24
    30 Year FHA Purchase 6.74% 4/21/24
    30 Year VA Purchase 5.99% 4/21/24
    15 Year Conventional Purchase 5.28% 4/21/24
    15 Year Conventional Refi 5.34% 4/21/24
    15 Year Cash-out Refi 5.34% 4/21/24
    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






    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

    634

    Origination Dollar Volume (All Markets)

    $112,620,000
    Show all (7) awards

    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) 373 $74,295,000 $199,182 $1,599 2.95%
    Cortland, NY (FHA|USDA|VA) 132 $19,130,000 $144,924 $1,349 3.04%
    Auburn, NY (FHA|USDA|VA) 34 $6,180,000 $181,765 $1,345 2.93%
    BINGHAMTON, NY (FHA|USDA|VA) 44 $5,200,000 $118,182 $1,246 3.05%
    SYRACUSE, NY (FHA|USDA|VA) 12 $2,300,000 $191,667 $1,735 3.14%
    Outside of Metro Areas 17 $2,125,000 $125,000 $999 3.10%
    Seneca Falls, NY (FHA|USDA|VA) 13 $1,825,000 $140,385 $1,425 3.04%
    ELMIRA, NY (FHA|USDA|VA) 5 $805,000 $161,000 $1,867 3.23%
    ROCHESTER, NY (FHA|USDA|VA) 4 $760,000 $190,000 $1,677 3.13%
    Cfcu Community Credit Union's top markets include Ithaca, Cortland, Auburn, Binghamton, and Syracuse 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: 117
    Tompkins Trust Company
    Similarity Rank: 330
    Elmira Savings Bank
    Similarity Rank: 338
    AMERICU Credit Union
    Similarity Rank: 414
    SEFCU SERVICES, LLC
    Similarity Rank: 600
    VISIONS
    Similarity Rank: 624
    NBT Bank
    Similarity Rank: 784
    Premium Mortgage Corporation
    Similarity Rank: 1007
    1ST PRIORITY MORTGAGE, INC.
    Similarity Rank: 1225
    Citizens & Northern Bank
    Similarity Rank: 1452

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 619 $110,465,000 $178,457 $1,412 2.98%
    FHA 10 $1,230,000 $123,000 $3,868 3.13%
    VA 4 $750,000 $187,500 $7,145 3.13%
    USDA 1 $175,000 $175,000 $3,569 3.13%

    For 2021, Cfcu Community Credit Union's most frequently originated type of loan was Conventional, with 619 originations. Their 2nd most popular type was FHA, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 237 $48,245,000 $203,565 $1,696 3.06%
    Refi 118 $23,550,000 $199,576 $1,705 2.83%
    Other 116 $17,740,000 $152,931 $1,196 2.90%
    Cash Out Refi 100 $16,510,000 $165,100 $1,523 2.83%
    Home Improvement 63 $6,575,000 $104,365 $936 3.42%

    For 2021, Cfcu Community Credit Union's most frequently cited loan purpose was Home Purchase, with 237 originations. The 2nd most popular reason was Refi, with 118 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 305 $60,645,000 $198,836 $1,778 3.04%
    15 Year 185 $30,135,000 $162,892 $1,425 2.69%
    20 Year 56 $11,530,000 $205,893 $1,801 3.05%
    10 Year 50 $4,480,000 $89,600 $562 3.30%
    5 Year 23 $885,000 $38,478 $0 3.33%
    Other 13 $4,555,000 $350,385 $118 3.59%
    3 Year 1 $25,000 $25,000 $0 4.90%
    30+ year 1 $365,000 $365,000 $4,161 3.88%

    For 2021, Cfcu Community Credit Union's most frequently cited loan duration was 30 Year, with 305 originations. The 2nd most popular length was 15 Year, with 185 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 523 $82,475,000 $157,696
    $1k-2k 53 $11,445,000 $215,943
    $2k-3k 19 $5,045,000 $265,526
    $3k-4k 8 $2,100,000 $262,500
    $4k-5k 2 $580,000 $290,000
    $5k+ 1 $285,000 $285,000

    Cfcu Community Credit Union's average total fees were $1,778, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 523 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 301 $56,335,000 $187,159
    3-4% 210 $35,810,000 $170,524
    <2.5% 104 $18,410,000 $177,019
    4-5% 16 $1,910,000 $119,375
    5-6% 2 $80,000 $40,000
    Over 8% 1 $75,000 $75,000

    During 2021, Cfcu Community Credit Union's average interest rate for loans was 3.04%, while their most frequently originated rate bucket for loans was 2.5-3%, with 301 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 290 $41,930,000 $144,586 $1,466 2.92%
    $200k-400k 170 $44,350,000 $260,882 $2,205 2.86%
    $100,000 or less 146 $9,110,000 $62,397 $578 3.23%
    $400k-600k 20 $9,650,000 $482,500 $2,666 3.09%
    $600k-1MM 5 $3,925,000 $785,000 $3,635 3.13%
    $1MM+ 3 $3,655,000 $1,218,333 $727 3.58%

    2021 saw Cfcu Community Credit Union place emphasis on $100k-200k loans with 290 originations, totaling $41,930,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 158 $27,420,000 $173,544 $1,356 2.93%
    $50k-75k 155 $21,565,000 $139,129 $1,330 3.05%
    $75k-100k 117 $19,445,000 $166,197 $1,441 2.95%
    $150k-250k 83 $20,055,000 $241,627 $2,051 2.84%
    $50k or less 82 $7,910,000 $96,463 $1,342 3.10%
    $250k+ 21 $8,775,000 $417,857 $2,577 2.89%

    Cfcu Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 158 originations. The second most popular income band? $50k-75k, with 155 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 169 $28,265,000 $167,249 $1,455 2.95%
    30-36% 136 $22,840,000 $167,941 $1,346 2.95%
    <20% 105 $19,245,000 $183,286 $1,488 2.87%
    41% 25 $5,005,000 $200,200 $1,218 3.09%
    36% 22 $3,840,000 $174,545 $1,503 2.98%
    37% 19 $2,395,000 $126,053 $1,657 3.00%
    40% 19 $3,285,000 $172,895 $1,812 3.05%
    42% 18 $2,990,000 $166,111 $1,306 3.01%
    38% 18 $2,520,000 $140,000 $1,775 3.24%
    44% 18 $3,230,000 $179,444 $1,922 2.90%
    43% 16 $2,550,000 $159,375 $1,557 2.91%
    39% 14 $2,340,000 $167,143 $1,043 3.10%
    45% 8 $1,800,000 $225,000 $1,692 3.23%
    47% 8 $1,440,000 $180,000 $2,340 2.98%
    46% 7 $1,485,000 $212,143 $2,408 2.80%
    49% 6 $840,000 $140,000 $1,911 3.06%
    48% 4 $540,000 $135,000 $1,860 3.66%
    50-60% 1 $165,000 $165,000 $3,263 3.75%

    Cfcu Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 169 originations. The next most common DTI ratio? 30-36%, with 136 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 510 $84,950,000 $166,569 $1,463 2.99%
    Not provided 78 $15,190,000 $194,744 $1,665 2.92%
    Not applicable 18 $7,450,000 $413,889 $0 3.50%
    Asian 16 $3,710,000 $231,875 $1,884 2.70%
    American Indian 4 $530,000 $132,500 $1,867 3.03%
    Black 5 $515,000 $103,000 $1,077 2.80%
    Asian Indian 1 $185,000 $185,000 $0 3.00%
    Native Hawaiian or Islander 1 $75,000 $75,000 $1,377 2.75%
    Vietnamese 1 $15,000 $15,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    95.74%

    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
    90.85%

    Cfcu Community Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 634 $112,620,000 $177,634

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    634 $112,620,000 $177,634

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 65 $5,655,000 $87,000 $829 2.94%
    40-60% 117 $18,345,000 $156,795 $1,345 2.78%
    60-80% 233 $47,325,000 $203,112 $1,904 2.95%
    80-100% 186 $39,420,000 $211,935 $1,569 3.05%
    Over 100% 1 $125,000 $125,000 $4,255 3.13%
    Under 20% 30 $970,000 $32,333 $0 3.74%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    CBC Companies, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 50.0%
    CBC Companies, Inc. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 12.5%
    CBC Companies, Inc. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 25.0%
    CBC Companies, Inc. Other type of mortgage Incorrect information on your report 1 12.5%