Irco Community Fcu Mortgage Rates, Fees & Info

Phillipsburg, NJ

LEI: 2549006803O7LX222108

Tax ID: 22-1819655

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Mortgage Data

Review & Overview

Irco Community Fcu is a smaller credit union specializing in Refi and Home Purchase loans. Irco Community Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Allentown, Philadelphia, Salisbury, New York, and East Stroudsburg among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Irco Community Fcu has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

114

Origination Dollar Volume (All Markets)

$13,290,000

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
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 103 $11,535,000 $111,990 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $655,000 $218,333 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
EAST STROUDSBURG, PA (FHA|USDA|VA) 4 $250,000 $62,500 $0 0.00%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Irco Community Fcu's top markets include Allentown, Philadelphia, Salisbury, New York, and East Stroudsburg among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 114 $13,290,000 $116,579 $0 0.00%

    For 2023, Irco Community Fcu's most frequently originated type of loan was Conventional, with 114 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 36 $5,870,000 $163,056 $0 0.00%
    Other 34 $2,250,000 $66,176 $0 0.00%
    Home Improvement 28 $1,670,000 $59,643 $0 0.00%
    Home Purchase 16 $3,500,000 $218,750 $0 0.00%

    For 2023, Irco Community Fcu's most frequently cited loan purpose was Refi, with 36 originations. The 2nd most popular reason was Other, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 114 $13,290,000 $116,579 $0 0.00%

    For 2023, Irco Community Fcu's most frequently cited loan duration was Other, with 114 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 70 $3,720,000 $53,143 $0 0.00%
    $100k-200k 22 $3,130,000 $142,273 $0 0.00%
    $200k-400k 19 $5,005,000 $263,421 $0 0.00%
    $400k-600k 2 $830,000 $415,000 $0 0.00%
    $600k-1MM 1 $605,000 $605,000 $0 0.00%

    2023 saw Irco Community Fcu place emphasis on $100,000 or less loans with 70 originations, totaling $3,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 24 $3,130,000 $130,417 $0 0.00%
    $75k-100k 20 $1,240,000 $62,000 $0 0.00%
    $150k-250k 19 $2,565,000 $135,000 $0 0.00%
    $50k-75k 19 $1,365,000 $71,842 $0 0.00%
    $50k or less 12 $780,000 $65,000 $0 0.00%
    $250k+ 5 $635,000 $127,000 $0 0.00%

    Irco Community Fcu lent most frequently to those with incomes in the $100k-150k range, with 24 originations. The second most popular income band? $75k-100k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 114 $13,290,000 $116,579 $0 0.00%

    Irco Community Fcu lent most frequently to those with DTI ratios of Exempt%, with 114 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 88 $8,600,000 $97,727 $0 0.00%
    Not applicable 15 $3,575,000 $238,333 $0 0.00%
    Not provided 4 $520,000 $130,000 $0 0.00%
    Asian 2 $250,000 $125,000 $0 0.00%
    Black 4 $190,000 $47,500 $0 0.00%
    Native Hawaiian or Islander 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.88%

    Irco Community Fcu has an average approval rate.

    Pick Rate

    Approvals leading to origination
    98.25%

    Irco Community Fcu has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 114 $13,290,000 $116,579

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    114 $13,290,000 $116,579