Act 1st Fcu Mortgage Rates, Fees & Info
CUMBERALND, MDLEI: 254900FE6QJXGH3VIA90
Tax ID: 52-0708990
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Act 1st Fcu is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Act 1st Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Cumberland, Winchester, and Somerset among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Act 1st Fcu 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.
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Originations
35Origination Dollar Volume (All Markets)
$2,555,000Top 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 |
|---|---|---|---|---|---|
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 30 | $2,380,000 | $79,333 | $0 | 0.00% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $70,000 | $35,000 | $0 | 0.00% |
| Somerset, PA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 35 | $2,555,000 | $73,000 | $0 | 0.00% |
For 2024, Act 1st Fcu's most frequently originated type of loan was Conventional, with 35 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 19 | $1,295,000 | $68,158 | $0 | 0.00% |
| Cash Out Refi | 16 | $1,260,000 | $78,750 | $0 | 0.00% |
For 2024, Act 1st Fcu's most frequently cited loan purpose was Home Improvement, with 19 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 35 | $2,555,000 | $73,000 | $0 | 0.00% |
For 2024, Act 1st Fcu's most frequently cited loan duration was Other, with 35 originations.
Loan Sizing
2024 saw Act 1st Fcu place emphasis on $100,000 or less loans with 26 originations, totaling $1,190,000 in origination value.
Applicant Income
Act 1st Fcu lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $50k or less, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 35 | $2,555,000 | $73,000 | $0 | 0.00% |
Act 1st Fcu lent most frequently to those with DTI ratios of Exempt%, with 35 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 33 | $2,385,000 | $72,273 | $0 | 0.00% |
| Not provided | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Black | 1 | $45,000 | $45,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.37%
Act 1st Fcu has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination94.29%
Act 1st Fcu has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 35 | $2,555,000 | $73,000 |