Irco Community Fcu Mortgage Rates, Fees & Info
Phillipsburg, NJLEI: 2549006803O7LX222108
Tax ID: 22-1819655
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Mortgage Data
Review & Overview
Irco Community Fcu is a smaller credit union specializing in Other and Cash Out Refi loans. Irco Community Fcu has a high proportion of conventional loans. Their top two markets are Allentown and East Stroudsburg .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
40Origination Dollar Volume (All Markets)
$2,780,000Top 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 |
|---|---|---|---|---|---|
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 39 | $2,755,000 | $70,641 | $0 | 0.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 40 | $2,780,000 | $69,500 | $0 | 0.00% |
For 2019, Irco Community Fcu's most frequently originated type of loan was Conventional, with 40 originations.
Loan Reason
For 2019, Irco Community Fcu's most frequently cited loan purpose was Other, with 12 originations. The 2nd most popular reason was Cash Out Refi, with 12 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 40 | $2,780,000 | $69,500 | $0 | 0.00% |
For 2019, Irco Community Fcu's most frequently cited loan duration was Other, with 40 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 30 | $1,340,000 | $44,667 | $0 | 0.00% |
| $100k-200k | 10 | $1,440,000 | $144,000 | $0 | 0.00% |
2019 saw Irco Community Fcu place emphasis on $100,000 or less loans with 30 originations, totaling $1,340,000 in origination value.
Applicant Income
Irco Community Fcu lent most frequently to those with incomes in the $75k-100k range, with 14 originations. The second most popular income band? $100k-150k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 40 | $2,780,000 | $69,500 | $0 | 0.00% |
Irco Community Fcu lent most frequently to those with DTI ratios of Exempt%, with 40 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 37 | $2,665,000 | $72,027 | $0 | 0.00% |
| Black | 2 | $70,000 | $35,000 | $0 | 0.00% |
| American Indian | 1 | $45,000 | $45,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications87.50%
Irco Community Fcu has an average approval rate.
Pick Rate
Approvals leading to origination95.00%
Irco Community Fcu has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 40 | $2,780,000 | $69,500 |