Pfcu Mortgage Rates, Fees & Info
Portland, MILEI: 2549008NRAZRGNG0TT58
Tax ID: 38-1379433
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Mortgage Data
Review & Overview
Pfcu is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Pfcu has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Grand Rapids, Lansing, Flint, Saginaw, and Alma among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Pfcu has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Pfcu 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.89% | 11/21/24 |
| 30 Year Conventional Refi | 6.41% | 11/21/24 |
| 30 Year Cash-out Refi | 6.77% | 11/21/24 |
| 30 Year USDA Purchase | 7.09% | 11/21/24 |
| 15 Year Conventional Purchase | 7.15% | 11/21/24 |
| 15 Year Conventional Refi | 6.70% | 11/21/24 |
| 15 Year Cash-out Refi | 6.70% | 11/21/24 |
| 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. | ||
Pfcu Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
442Origination Dollar Volume (All Markets)
$51,570,000Awards
PFCU - 2019
PFCU is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 218 | $25,590,000 | $117,385 | $1,901 | 4.50% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 147 | $16,765,000 | $114,048 | $1,940 | 4.34% |
| Outside of Metro Areas | 36 | $4,720,000 | $131,111 | $2,020 | 4.47% |
| FLINT, MI (FHA|USDA|VA) | 26 | $2,530,000 | $97,308 | $1,762 | 4.66% |
| SAGINAW, MI (FHA|USDA|VA) | 4 | $440,000 | $110,000 | $2,147 | 3.63% |
| Alma, MI (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $2,868 | 4.25% |
| MIDLAND, MI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,448 | 4.25% |
| Ludington, MI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,465 | 4.50% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,458 | 4.00% |
| Holland, MI (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $2,630 | 4.38% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,692 | 3.75% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,914 | 4.13% |
| Alpena, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,251 | 4.13% |
| Cadillac, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $464 | 4.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against PFCU based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 422 | $49,420,000 | $117,109 | $1,863 | 4.46% |
| USDA | 20 | $2,150,000 | $107,500 | $3,289 | 4.04% |
For 2019, Pfcu's most frequently originated type of loan was Conventional, with 422 originations. Their 2nd most popular type was USDA, with 20 originations.
Loan Reason
For 2019, Pfcu's most frequently cited loan purpose was Home Purchase, with 181 originations. The 2nd most popular reason was Cash Out Refi, with 156 originations.
Loan Duration/Length
For 2019, Pfcu's most frequently cited loan duration was 30 Year, with 244 originations. The 2nd most popular length was 15 Year, with 107 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 334 | $36,700,000 | $109,880 |
| $1k-2k | 93 | $13,895,000 | $149,409 |
Pfcu's average total fees were $2,345, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 334 originations.
Interest Rates
During 2019, Pfcu's average interest rate for loans was 4.31%, while their most frequently originated rate bucket for loans was 4-5%, with 196 originations.
Loan Sizing
2019 saw Pfcu place emphasis on $100,000 or less loans with 203 originations, totaling $11,525,000 in origination value.
Applicant Income
Pfcu lent most frequently to those with incomes in the $50k or less range, with 143 originations. The second most popular income band? $50k-75k, with 123 originations.
Applicant Debt to Income Ratio
Pfcu lent most frequently to those with DTI ratios of 20-30%, with 134 originations. The next most common DTI ratio? 30-36%, with 77 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.65%
Pfcu has an average approval rate.
Pick Rate
Approvals leading to origination70.59%
Pfcu has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 442 | $51,570,000 | $116,674 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 18 | $1,560,000 | $86,667 |
| Single Family (1-4 Units):Site-Built | 424 | $50,010,000 | $117,948 |