First Peoples Community Federal Credit Union Mortgage Rates, Fees & Info

CUMBERLAND, MD

LEI: 2549007WBD70RLDH1669

Tax ID: 52-0905189

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

Review & Overview

First Peoples Community Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. First Peoples Community Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Cumberland, Somerset, Washington, Hagerstown, and North Port among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Peoples Community Federal 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. First Peoples Community Federal 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	5.73%	12/16/24
30 Year Conventional Refi	5.96%	12/16/24
30 Year Cash-out Refi	6.64%	12/16/24
15 Year Conventional Purchase	5.30%	12/16/24
15 Year Conventional Refi	4.73%	12/16/24
15 Year Cash-out Refi	4.73%	12/16/24
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.

First Peoples Community Federal Credit Union Mortgage Calculator

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This is not an official calculator from First Peoples Community Federal 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

567

Origination Dollar Volume (All Markets)

$79,035,000

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
CUMBERLAND, MD-WV (FHA\|USDA\|VA)	316	$37,170,000	$117,627	$1,842	2.97%
Outside of Metro Areas	114	$17,420,000	$152,807	$2,177	2.81%
Somerset, PA (FHA\|USDA\|VA)	88	$12,130,000	$137,841	$2,359	2.83%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA\|USDA\|VA)	6	$2,350,000	$391,667	$3,251	2.65%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA\|USDA\|VA)	10	$2,100,000	$210,000	$2,328	2.56%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	1	$1,525,000	$1,525,000	$10,561	3.25%
WINCHESTER, VA-WV (FHA\|USDA\|VA)	7	$915,000	$130,714	$2,724	2.50%
MORGANTOWN, WV (FHA\|USDA\|VA)	5	$825,000	$165,000	$3,284	3.30%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA\|USDA\|VA)	3	$805,000	$268,333	$3,174	2.63%
CHAMBERSBURG-WAYNESBORO, PA (FHA\|USDA\|VA)	5	$665,000	$133,000	$1,866	2.33%
Morehead City, NC (FHA\|USDA\|VA)	1	$505,000	$505,000	$3,536	2.88%
PITTSBURGH, PA (FHA\|USDA\|VA)	2	$420,000	$210,000	$2,573	2.69%
Kill Devil Hills, NC (FHA\|USDA\|VA)	1	$415,000	$415,000	$4,382	2.88%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA\|USDA\|VA)	1	$385,000	$385,000	$3,136	2.75%
PUNTA GORDA, FL (FHA\|USDA\|VA)	1	$355,000	$355,000	$8,737	2.88%
TUCSON, AZ (FHA\|USDA\|VA)	1	$295,000	$295,000	$4,526	2.63%
KANSAS CITY, MO-KS (FHA\|USDA\|VA)	1	$285,000	$285,000	$1,698	3.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA\|USDA\|VA)	2	$230,000	$115,000	$2,005	2.25%
CHARLESTON-NORTH CHARLESTON, SC (FHA\|USDA\|VA)	1	$185,000	$185,000	$2,270	3.00%
JOHNSTOWN, PA (FHA\|USDA\|VA)	1	$55,000	$55,000	$4,012	2.63%

First Peoples Community Federal Credit Union's top markets include Cumberland, Somerset, Washington, Hagerstown, and North Port among others.

Their top states include:

Maryland (FHA|USDA|VA)

Pennsylvania (FHA|USDA|VA)

West Virginia (FHA|USDA|VA)

Florida (FHA|USDA|VA)

North Carolina (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against FIRST PEOPLES COMMUNITY FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

Standard Bank, PaSB
Similarity Rank: 56

SOMERSET TRUST COMPANY
Similarity Rank: 299

AFFORDABLE MORTGAGE ADVISORS, LLC.
Similarity Rank: 324

STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED
Similarity Rank: 341

FIRST PEOPLES COMMUNITY FEDERAL CREDIT UNION
Similarity Rank: 540

SOUTHERN TRUST MORTGAGE, LLC
Similarity Rank: 708

First National Bank of Pennsylvania
Similarity Rank: 800

First Commonwealth Bank
Similarity Rank: 1001

C & F Mortgage Corporation
Similarity Rank: 1196

GUARANTY HOME MORTGAGE CORPORATION
Similarity Rank: 1368

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	567	$79,035,000	$139,392	$2,094	2.89%

For 2021, First Peoples Community Federal Credit Union's most frequently originated type of loan was Conventional, with 567 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	305	$44,065,000	$144,475	$1,927	2.76%
Cash Out Refi	140	$15,500,000	$110,714	$1,485	2.92%
Home Purchase	116	$19,240,000	$165,862	$3,339	3.14%
Home Improvement	5	$205,000	$41,000	$805	4.54%
Other	1	$25,000	$25,000	$228	1.99%

For 2021, First Peoples Community Federal Credit Union's most frequently cited loan purpose was Refi, with 305 originations. The 2nd most popular reason was Cash Out Refi, with 140 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
15 Year	217	$27,155,000	$125,138	$1,673	2.64%
30 Year	133	$27,195,000	$204,474	$3,767	3.17%
Other	73	$9,775,000	$133,904	$1,639	2.95%
20 Year	72	$10,750,000	$149,306	$2,176	2.92%
10 Year	52	$3,230,000	$62,115	$739	3.25%
5 Year	20	$930,000	$46,500	$409	2.54%

For 2021, First Peoples Community Federal Credit Union's most frequently cited loan duration was 15 Year, with 217 originations. The 2nd most popular length was 30 Year, with 133 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	417	$50,595,000	$121,331
$1k-2k	148	$27,200,000	$183,784
$2k-3k	2	$1,240,000	$620,000

First Peoples Community Federal Credit Union's average total fees were $3,767, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 417 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
<2.5%	222	$27,360,000	$123,243
2.5-3%	220	$35,630,000	$161,955
3-4%	87	$12,765,000	$146,724
4-5%	24	$1,840,000	$76,667
5-6%	11	$1,215,000	$110,455
6-7%	3	$225,000	$75,000

During 2021, First Peoples Community Federal Credit Union's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was <2.5%, with 222 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	236	$33,100,000	$140,254	$2,280	2.75%
$100,000 or less	234	$14,440,000	$61,709	$1,198	3.04%
$200k-400k	79	$21,125,000	$267,405	$3,556	2.87%
$400k-600k	15	$7,315,000	$487,667	$4,292	2.83%
$600k-1MM	2	$1,530,000	$765,000	$6,438	3.25%
$1MM+	1	$1,525,000	$1,525,000	$10,561	3.25%

2021 saw First Peoples Community Federal Credit Union place emphasis on $100k-200k loans with 236 originations, totaling $33,100,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	138	$15,550,000	$112,681	$1,984	3.03%
$100k-150k	123	$18,425,000	$149,797	$2,093	2.82%
$50k or less	115	$9,845,000	$85,609	$1,649	2.98%
$75k-100k	107	$13,175,000	$123,131	$2,087	2.74%
$150k-250k	62	$14,460,000	$233,226	$2,697	2.85%
$250k+	22	$7,580,000	$344,545	$3,439	2.85%

First Peoples Community Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 138 originations. The second most popular income band? $100k-150k, with 123 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	203	$27,165,000	$133,818	$2,002	2.83%
30-36%	106	$14,650,000	$138,208	$2,373	2.85%
<20%	106	$13,610,000	$128,396	$1,922	2.68%
36%	19	$2,145,000	$112,895	$2,224	2.60%
38%	18	$2,720,000	$151,111	$1,810	2.83%
>60%	16	$4,120,000	$257,500	$2,541	3.51%
39%	16	$2,350,000	$146,875	$2,320	3.06%
40%	12	$1,340,000	$111,667	$1,563	3.35%
41%	12	$2,330,000	$194,167	$2,280	3.35%
37%	12	$1,720,000	$143,333	$2,505	2.96%
50-60%	10	$1,720,000	$172,000	$1,957	3.19%
43%	10	$1,010,000	$101,000	$1,777	3.33%
45%	7	$1,415,000	$202,143	$3,136	3.10%
42%	5	$385,000	$77,000	$1,161	3.77%
48%	4	$360,000	$90,000	$1,201	4.40%
46%	4	$1,210,000	$302,500	$3,367	3.22%
49%	3	$305,000	$101,667	$1,207	3.00%
44%	3	$355,000	$118,333	$1,790	3.08%
47%	1	$125,000	$125,000	$4,321	2.38%

First Peoples Community Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 203 originations. The next most common DTI ratio? 30-36%, with 106 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	529	$73,195,000	$138,365	$2,053	2.91%
Not provided	30	$4,700,000	$156,667	$2,485	2.57%
Black	5	$545,000	$109,000	$2,537	3.07%
Asian	1	$375,000	$375,000	$8,643	2.88%
American Indian	1	$135,000	$135,000	$2,211	2.25%
Not applicable	1	$85,000	$85,000	$2,711	2.88%

Approval Rates

Total approvals of all applications
96.28%

First Peoples Community Federal 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
90.48%

First Peoples Community Federal Credit Union has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	567	$79,035,000	$139,392

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	567	$79,035,000	$139,392

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	40	$3,040,000	$76,000	$1,074	3.22%
40-60%	99	$13,375,000	$135,101	$1,807	2.59%
60-80%	218	$34,820,000	$159,725	$2,358	2.69%
80-100%	125	$21,045,000	$168,360	$3,008	3.08%
Over 100%	6	$1,190,000	$198,333	$3,169	3.50%
Under 20%	34	$990,000	$29,118	$316	3.65%

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
First Technology Federal Credit Union	Other type of mortgage	Trouble during payment process	1	14.3%
First Technology Federal Credit Union	Conventional home mortgage	Closing on a mortgage	1	14.3%
First Technology Federal Credit Union	Conventional home mortgage	Incorrect information on your report	1	14.3%
First Technology Federal Credit Union	Conventional home mortgage	Trouble during payment process	2	28.6%
First Technology Federal Credit Union	FHA mortgage	Struggling to pay mortgage	1	14.3%
First Technology Federal Credit Union	Other type of mortgage	Applying for a mortgage or refinancing an existing mortgage	1	14.3%