People's Community Federal Credit Union Mortgage Rates, Fees & Info
Vancouver, WALEI: 254900MRUZFHXLEPLR52
Tax ID: 91-0689235
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
People's Community Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. People's Community Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Portland.People's Community Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. People's Community Federal Credit Union 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 | 5.48% | 4/14/24 |
| 30 Year Conventional Refi | 4.25% | 4/14/24 |
| 30 Year Cash-out Refi | 4.96% | 4/14/24 |
| 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. | ||
People's Community 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
30Origination Dollar Volume (All Markets)
$6,530,000Top 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 |
|---|---|---|---|---|---|
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 30 | $6,530,000 | $217,667 | $1,707 | 3.91% |
Similar Lenders
We use machine learning to identify the top lenders compared against People's Community 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 | 30 | $6,530,000 | $217,667 | $1,707 | 3.91% |
For 2019, People's Community Federal Credit Union's most frequently originated type of loan was Conventional, with 30 originations.
Loan Reason
For 2019, People's Community Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 16 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
For 2019, People's Community Federal Credit Union's most frequently cited loan duration was 30 Year, with 10 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 30 | $6,530,000 | $217,667 |
People's Community Federal Credit Union's average total fees were $1,686, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 30 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 20 | $4,960,000 | $248,000 |
| 5-6% | 4 | $300,000 | $75,000 |
| 2.5-3% | 3 | $365,000 | $121,667 |
| 4-5% | 3 | $905,000 | $301,667 |
During 2019, People's Community Federal Credit Union's average interest rate for loans was 3.93%, while their most frequently originated rate bucket for loans was 3-4%, with 20 originations.
Loan Sizing
2019 saw People's Community Federal Credit Union place emphasis on $100k-200k loans with 11 originations, totaling $1,885,000 in origination value.
Applicant Income
People's Community Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $75k-100k, with 7 originations.
Applicant Debt to Income Ratio
People's Community Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 13 originations. The next most common DTI ratio? 20-30%, with 6 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 29 | $6,285,000 | $216,724 | $1,705 | 3.94% |
| Black | 1 | $245,000 | $245,000 | $1,749 | 3.00% |
Approval Rates
Total approvals of all applications59.32%
People's Community Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination93.33%
People's Community Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 30 | $6,530,000 | $217,667 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 30 | $6,530,000 | $217,667 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION | Conventional home mortgage | Struggling to pay mortgage | 3 | 21.4% |
| PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION | Conventional home mortgage | Trouble during payment process | 4 | 28.6% |
| PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 7.1% |
| PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 2 | 14.3% |
| PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 7.1% |
| PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION | Other type of mortgage | Trouble during payment process | 2 | 14.3% |