The People's Federal Credit Union Mortgage Rates, Fees & Info
Amarillo, TXLEI: 254900WJGWD3H4OFK051
Tax ID: 75-0870102
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Mortgage Data
Review & Overview
The People's Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. The People's Federal Credit Union has a high proportion of conventional loans. Their top two markets are Amarillo and Borger .The People's 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
15 Year Conventional Refi | 5.37% | 10/31/24 |
15 Year Cash-out Refi | 5.37% | 10/31/24 |
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. |
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
42Origination Dollar Volume (All Markets)
$3,690,000Top 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) | 39 | $3,295,000 | $84,487 | $650 | 3.67% |
Outside of Metro Areas | 2 | $220,000 | $110,000 | $1,426 | 3.50% |
Borger, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,286 | 3.50% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 42 | $3,690,000 | $87,857 | $702 | 3.66% |
For 2021, The People's Federal Credit Union's most frequently originated type of loan was Conventional, with 42 originations.
Loan Reason
Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Cash Out Refi | 40 | $3,550,000 | $88,750 | $712 | 3.67% |
Refi | 2 | $140,000 | $70,000 | $506 | 3.50% |
For 2021, The People's Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 40 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
For 2021, The People's Federal Credit Union's most frequently cited loan duration was 15 Year, with 19 originations. The 2nd most popular length was Other, with 10 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
3-4% | 34 | $3,290,000 | $96,765 |
4-5% | 8 | $400,000 | $50,000 |
During 2021, 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 3-4%, with 34 originations.
Loan Sizing
2021 saw The People's Federal Credit Union place emphasis on $100,000 or less loans with 30 originations, totaling $1,540,000 in origination value.
Applicant Income
The People's Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $150k-250k, with 9 originations.
Applicant Debt to Income Ratio
The People's Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 13 originations. The next most common DTI ratio? 20-30%, with 10 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
White | 39 | $3,525,000 | $90,385 | $717 | 3.65% |
Black | 2 | $130,000 | $65,000 | $506 | 3.50% |
Asian | 1 | $35,000 | $35,000 | $489 | 4.25% |
Approval Rates
Total approvals of all applications90.38%
The People's Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination88.10%
The People's Federal Credit Union has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 42 | $3,690,000 | $87,857 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
TOP FLITE FINANCIAL INC | FHA mortgage | Closing on a mortgage | 1 | 100.0% |