New Cumberland Federal Credit Union Mortgage Rates, Fees & Info
New Cumberland, PALEI: 254900JU5OLW9ZB5C595
Tax ID: 23-1413187
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Mortgage Data
Review & Overview
New Cumberland Federal Credit Union is a smaller credit union specializing in Refi and Home Improvement loans. New Cumberland Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Harrisburg, York, Lebanon, Pottsville, and Philadelphia among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)New Cumberland Federal Credit Union 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.
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 |
|---|---|---|
| 15 Year Conventional Purchase | 5.68% | 4/28/24 |
| 15 Year Conventional Refi | 5.68% | 4/28/24 |
| 15 Year Cash-out Refi | 5.68% | 4/28/24 |
| 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. | ||
New Cumberland Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
150Origination Dollar Volume (All Markets)
$10,980,000Top 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 |
|---|---|---|---|---|---|
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 71 | $5,415,000 | $76,268 | $0 | 3.61% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 54 | $3,980,000 | $73,704 | $0 | 3.57% |
| LEBANON, PA (FHA|USDA|VA) | 7 | $575,000 | $82,143 | $0 | 3.71% |
| Pottsville, PA (FHA|USDA|VA) | 5 | $325,000 | $65,000 | $0 | 3.67% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $175,000 | $58,333 | $0 | 4.03% |
| LANCASTER, PA (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 3.60% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 3.90% |
| READING, PA (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 3.73% |
| Lewistown, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.55% |
| New Castle, PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 3.85% |
| Huntingdon, PA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 3.25% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 3.40% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 134 | $10,010,000 | $74,701 | $0 | 3.61% |
| HELOC | 16 | $970,000 | $60,625 | n/a | 3.67% |
For 2020, New Cumberland Federal Credit Union's most frequently originated type of loan was Conventional, with 134 originations. Their 2nd most popular type was HELOC, with 16 originations.
Loan Reason
For 2020, New Cumberland Federal Credit Union's most frequently cited loan purpose was Refi, with 62 originations. The 2nd most popular reason was Home Improvement, with 53 originations.
Loan Duration/Length
For 2020, New Cumberland Federal Credit Union's most frequently cited loan duration was 15 Year, with 69 originations. The 2nd most popular length was 10 Year, with 41 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 113 | $8,185,000 | $72,434 |
| 4-5% | 22 | $1,680,000 | $76,364 |
| 2.5-3% | 9 | $735,000 | $81,667 |
| <2.5% | 3 | $225,000 | $75,000 |
During 2020, New Cumberland Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 113 originations.
Loan Sizing
2020 saw New Cumberland Federal Credit Union place emphasis on $100,000 or less loans with 118 originations, totaling $5,800,000 in origination value.
Applicant Income
New Cumberland Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 43 originations. The second most popular income band? $50k-75k, with 39 originations.
Applicant Debt to Income Ratio
New Cumberland Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? 50-60%, with 23 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 141 | $10,485,000 | $74,362 | $0 | 3.62% |
| Black | 6 | $290,000 | $48,333 | $0 | 3.58% |
| Not provided | 3 | $205,000 | $68,333 | $0 | 3.45% |
Approval Rates
Total approvals of all applications90.91%
New Cumberland Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination88.67%
New Cumberland Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 150 | $10,980,000 | $73,200 |