Irco Community Fcu Mortgage Rates, Fees & Info

Phillipsburg, NJ

LEI: 2549006803O7LX222108

Tax ID: 22-1819655

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Irco Community Fcu is a smaller credit union specializing in Other and Home Purchase loans. Irco Community Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Allentown, East Stroudsburg, Pottsville, Philadelphia, and New York among others. We have data for 5 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

    74

    Origination Dollar Volume (All Markets)

    $7,690,000

    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) 66 $6,580,000 $99,697 $0 0.00%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 3 $515,000 $171,667 $0 0.00%
    Pottsville, PA (FHA|USDA|VA) 3 $315,000 $105,000 $0 0.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    Irco Community Fcu's top markets include Allentown, East Stroudsburg, Pottsville, Philadelphia, and New York among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 74 $7,690,000 $103,919 $0 0.00%

    For 2024, Irco Community Fcu's most frequently originated type of loan was Conventional, with 74 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 25 $1,875,000 $75,000 $0 0.00%
    Home Improvement 21 $1,465,000 $69,762 $0 0.00%
    Refi 15 $1,255,000 $83,667 $0 0.00%
    Home Purchase 13 $3,095,000 $238,077 $0 0.00%

    For 2024, Irco Community Fcu's most frequently cited loan purpose was Other, with 25 originations. The 2nd most popular reason was Home Improvement, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 74 $7,690,000 $103,919 $0 0.00%

    For 2024, Irco Community Fcu's most frequently cited loan duration was Other, with 74 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 47 $2,065,000 $43,936 $0 0.00%
    $200k-400k 15 $3,715,000 $247,667 $0 0.00%
    $100k-200k 12 $1,910,000 $159,167 $0 0.00%

    2024 saw Irco Community Fcu place emphasis on $100,000 or less loans with 47 originations, totaling $2,065,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 16 $790,000 $49,375 $0 0.00%
    $100k-150k 13 $1,095,000 $84,231 $0 0.00%
    $75k-100k 11 $695,000 $63,182 $0 0.00%
    $150k-250k 10 $1,040,000 $104,000 $0 0.00%
    $50k or less 6 $470,000 $78,333 $0 0.00%
    $250k+ 2 $460,000 $230,000 $0 0.00%

    Irco Community Fcu lent most frequently to those with incomes in the $50k-75k range, with 16 originations. The second most popular income band? $100k-150k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 74 $7,690,000 $103,919 $0 0.00%

    Irco Community Fcu lent most frequently to those with DTI ratios of Exempt%, with 74 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 53 $4,045,000 $76,321 $0 0.00%
    Not applicable 16 $3,140,000 $196,250 $0 0.00%
    Chinese 1 $205,000 $205,000 $0 0.00%
    Black 2 $140,000 $70,000 $0 0.00%
    Asian 1 $105,000 $105,000 $0 0.00%
    American Indian 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.04%

    Irco Community Fcu has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    95.95%

    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 74 $7,690,000 $103,919

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    74 $7,690,000 $103,919