Cross Valley Federal Credit Union Mortgage Rates, Fees & Info
Wilkes Barre, PALEI: 254900L0XOVEOJWGQO95
Tax ID: 23-7006496
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Mortgage Data
Review & Overview
Cross Valley Federal Credit Union is a smaller credit union specializing in Home Improvement loans. Cross Valley Federal Credit Union has a high proportion of conventional loans. Their top two markets are Scranton and East Stroudsburg .Cross Valley Federal Credit Union has an above average approval rate when compared to the average across all lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.91% | 5/4/24 |
| 30 Year Conventional Purchase | 6.65% | 5/4/24 |
| 30 Year Conventional Refi | 6.02% | 5/4/24 |
| 30 Year Cash-out Refi | 6.87% | 5/4/24 |
| 15 Year Conventional Purchase | 4.86% | 5/4/24 |
| 15 Year Conventional Refi | 5.29% | 5/4/24 |
| 15 Year Cash-out Refi | 5.29% | 5/4/24 |
| 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. | ||
Cross Valley 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
104Origination Dollar Volume (All Markets)
$6,110,000Top 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 |
|---|---|---|---|---|---|
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 102 | $6,030,000 | $59,118 | $0 | 3.27% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $0 | 3.29% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 3.29% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against CROSS VALLEY FEDERAL CREDIT UNION 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 | 104 | $6,110,000 | $58,750 | $0 | 3.27% |
For 2019, Cross Valley Federal Credit Union's most frequently originated type of loan was Conventional, with 104 originations.
Loan Reason
For 2019, Cross Valley Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 77 originations. The 2nd most popular reason was Other, with 17 originations.
Loan Duration/Length
For 2019, Cross Valley Federal Credit Union's most frequently cited loan duration was 10 Year, with 61 originations. The 2nd most popular length was 15 Year, with 22 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 46 | $2,380,000 | $51,739 |
| 2.5-3% | 27 | $1,375,000 | $50,926 |
| 4-5% | 22 | $2,030,000 | $92,273 |
| <2.5% | 8 | $270,000 | $33,750 |
During 2019, Cross Valley 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 46 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 86 | $3,720,000 | $43,256 | $0 | 3.19% |
| $100k-200k | 18 | $2,390,000 | $132,778 | $0 | 3.66% |
2019 saw Cross Valley Federal Credit Union place emphasis on $100,000 or less loans with 86 originations, totaling $3,720,000 in origination value.
Applicant Income
Cross Valley Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 29 originations. The second most popular income band? $100k-150k, with 23 originations.
Applicant Debt to Income Ratio
Cross Valley Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 34 originations. The next most common DTI ratio? 20-30%, with 25 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 104 | $6,110,000 | $58,750 | $0 | 3.27% |
Approval Rates
Total approvals of all applications90.43%
Cross Valley Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1020.75 | 1 | $125,000 | $125,000 |
| 1109.75 | 1 | $55,000 | $55,000 |
| 166.75 | 1 | $25,000 | $25,000 |
| 250.75 | 1 | $75,000 | $75,000 |
| 280.75 | 5 | $185,000 | $37,000 |
| 315.75 | 1 | $25,000 | $25,000 |
| 680.75 | 73 | $4,435,000 | $60,753 |
| 745.75 | 1 | $35,000 | $35,000 |
| 750.75 | 5 | $345,000 | $69,000 |
| 764.75 | 3 | $235,000 | $78,333 |
| 805.75 | 1 | $25,000 | $25,000 |
| 834.75 | 1 | $135,000 | $135,000 |
| 845.75 | 6 | $220,000 | $36,667 |
| 915.75 | 1 | $55,000 | $55,000 |
| NA | 3 | $135,000 | $45,000 |