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. Their top markets by origination volume include: Grand Rapids, Lansing, Flint, Kalamazoo, and Detroit among others. We have data for 12 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% | 11/22/24 |
| 30 Year Conventional Refi | 6.41% | 11/22/24 |
| 30 Year Cash-out Refi | 6.77% | 11/22/24 |
| 30 Year USDA Purchase | 7.09% | 11/22/24 |
| 15 Year Conventional Purchase | 7.15% | 11/22/24 |
| 15 Year Conventional Refi | 6.70% | 11/22/24 |
| 15 Year Cash-out Refi | 6.70% | 11/22/24 |
| 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
223Origination Dollar Volume (All Markets)
$28,285,000Awards
PFCU - 2022
PFCU is a 2022 , due to their low .
For 2022, 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) | 105 | $14,065,000 | $133,952 | $2,338 | 5.23% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 72 | $9,610,000 | $133,472 | $2,467 | 4.93% |
| FLINT, MI (FHA|USDA|VA) | 14 | $1,640,000 | $117,143 | $2,078 | 5.38% |
| Outside of Metro Areas | 19 | $1,415,000 | $74,474 | $1,660 | 5.43% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 4 | $510,000 | $127,500 | $2,317 | 5.94% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 3 | $345,000 | $115,000 | $2,092 | 4.38% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,739 | 5.50% |
| Alma, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,563 | 3.88% |
| Big Rapids, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,534 | 3.88% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,466 | 6.63% |
| Sturgis, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,283 | 6.00% |
| SAGINAW, MI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,255 | 5.00% |
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 | 215 | $26,855,000 | $124,907 | $2,216 | 5.17% |
| USDA | 8 | $1,430,000 | $178,750 | $4,718 | 4.83% |
For 2022, Pfcu's most frequently originated type of loan was Conventional, with 215 originations. Their 2nd most popular type was USDA, with 8 originations.
Loan Reason
For 2022, Pfcu's most frequently cited loan purpose was Home Purchase, with 80 originations. The 2nd most popular reason was Cash Out Refi, with 62 originations.
Loan Duration/Length
For 2022, Pfcu's most frequently cited loan duration was 30 Year, with 124 originations. The 2nd most popular length was 15 Year, with 64 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 139 | $16,995,000 | $122,266 |
| $1k-2k | 83 | $10,705,000 | $128,976 |
| $2k-3k | 1 | $585,000 | $585,000 |
Pfcu's average total fees were $2,876, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 139 originations.
Interest Rates
During 2022, Pfcu's average interest rate for loans was 5.02%, while their most frequently originated rate bucket for loans was 5-6%, with 72 originations.
Loan Sizing
2022 saw Pfcu place emphasis on $100,000 or less loans with 103 originations, totaling $6,065,000 in origination value.
Applicant Income
Pfcu lent most frequently to those with incomes in the $50k-75k range, with 74 originations. The second most popular income band? $50k or less, with 58 originations.
Applicant Debt to Income Ratio
Pfcu lent most frequently to those with DTI ratios of 20-30%, with 69 originations. The next most common DTI ratio? 30-36%, with 41 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.23%
Pfcu has an average approval rate.
Pick Rate
Approvals leading to origination85.65%
Pfcu has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 223 | $28,285,000 | $126,839 |