Collins Community Credit Union Mortgage Interest Rate and Cost Review

Is Collins Community Credit Union a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Collins Community Credit Union to those of other lenders for a comparable set of borrowers. Here is our review of Collins Community Credit Union nationally:

Review ItemCollins Community Credit Union
Interest Ratesimilar to other lenders (-0.10%)
Loan Related Closing Costssimilar to other lenders (-$195)
National Rate and Closing Cost Star Rating(4)

On average, Collins Community Credit Union’s interest rates were similar to those of other lenders (-0.10%). Its loan related closing costs were also similar to those of other lenders, with a difference of -$195. Overall, combining interest rates and closing costs we estimate that Collins Community Credit Union tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Collins Community Credit Union, check out its website at:

Collins Community Credit Union’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Collins Community Credit Union was most active in:

  1. Cedar Rapids, IA
  2. Des Moines, IA
  3. Waterloo, IA
  4. Dubuque, IA
  5. Newton, IA

Collins Community Credit Union’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Collins Community Credit Union originated Conforming, USDA and VA mortgages for new home purchases. It also originated Conforming and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

New Purchase MortgagesConformingUSDAVA
Interest Rate Difference-0.06%-0.02%-0.06%
Loan Related Closing Cost Difference-$143-$34-$73
Cost Adjusted Rate Difference-0.08%-0.03%-0.06%
National Star Rating(4)(3.5)(4)
Refinance MortgagesConformingVA
Interest Rate Difference-0.13%-0.02%
Loan Related Closing Cost Difference-$255-$74
Cost Adjusted Rate Difference-0.16%-0.03%
Average Star Rating(4.5)(3.5)

As a summary, Collins Community Credit Union is cheap for Conforming and VA purchase mortgages. It is similar to other lenders for USDA purchase mortgages. For refinancing mortgages, Collins Community Credit Union is cheap for Conforming mortgage refinance. It is similar to other lenders for VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Collins Community Credit Union:

Registered name: Collins Community Credit Union
Registered city and state: CEDAR RAPIDS, IA, 52402
Regulator: National Credit Union Administration (NCUA)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Collins Community Credit Union’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.