The People's Federal Credit Union Mortgage Rates, Fees & Info
Amarillo, TXLEI: 254900WJGWD3H4OFK051
Tax ID: 75-0870102
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
The People's Federal Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. The People's Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Amarillo, Pampa, Borger, Lubbock, and Hereford among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)The People's Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an above 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 Refi | 6.13% | 4/5/25 |
| 15 Year Cash-out Refi | 6.13% | 4/5/25 |
| 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. | ||
The People's 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
44Origination Dollar Volume (All Markets)
$2,970,000Top 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 |
|---|---|---|---|---|---|
| AMARILLO, TX (FHA|USDA|VA) | 32 | $2,310,000 | $72,188 | $1,272 | 7.16% |
| Outside of Metro Areas | 7 | $285,000 | $40,714 | $1,047 | 6.79% |
| Pampa, TX (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,024 | 7.00% |
| Borger, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $986 | 6.50% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $595 | 6.50% |
| Hereford, TX (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,022 | 7.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 44 | $2,970,000 | $67,500 | $1,243 | 7.07% |
For 2024, The People's Federal Credit Union's most frequently originated type of loan was Conventional, with 44 originations.
Loan Reason
For 2024, The People's Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 28 originations. The 2nd most popular reason was Cash Out Refi, with 14 originations.
Loan Duration/Length
For 2024, The People's Federal Credit Union's most frequently cited loan duration was 15 Year, with 20 originations. The 2nd most popular length was 10 Year, with 13 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 27 | $1,255,000 | $46,481 |
| $1k-2k | 3 | $405,000 | $135,000 |
| $2k-3k | 2 | $430,000 | $215,000 |
| $3k-4k | 1 | $325,000 | $325,000 |
The People's Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 27 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 25 | $1,275,000 | $51,000 |
| 6-7% | 19 | $1,695,000 | $89,211 |
During 2024, The People's Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 25 originations.
Loan Sizing
2024 saw The People's Federal Credit Union place emphasis on $100,000 or less loans with 38 originations, totaling $1,810,000 in origination value.
Applicant Income
The People's Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $150k-250k, with 10 originations.
Applicant Debt to Income Ratio
The People's Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? 30-36%, with 8 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.91%
The People's Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination97.73%
The People's Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 44 | $2,970,000 | $67,500 |