Grove City Area Federal Credit Union Mortgage Rates, Fees & Info

Grove City, PA

LEI: 254900XJCLA0W3K4J455

Tax ID: 25-0970727

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Grove City Area Federal Credit Union is a smaller credit union specializing in Home Improvement and Other loans. Grove City Area Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Youngstown, New Castle, Pittsburgh, and Oil City among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Grove City Area Federal Credit Union has an 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 4.23% 12/16/24
    15 Year Conventional Refi 5.04% 12/16/24
    15 Year Cash-out Refi 5.04% 12/16/24
    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.

    Grove City Area Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Grove City Area Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    106

    Origination Dollar Volume (All Markets)

    $6,050,000

    Top 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
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 80 $4,320,000 $54,000 $754 5.89%
    New Castle, PA (FHA|USDA|VA) 6 $610,000 $101,667 $2,293 5.87%
    PITTSBURGH, PA (FHA|USDA|VA) 11 $565,000 $51,364 $508 6.18%
    Oil City, PA (FHA|USDA|VA) 9 $555,000 $61,667 $460 6.02%
    Grove City Area Federal Credit Union's top markets include Youngstown, New Castle, Pittsburgh, and Oil City among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 106 $6,050,000 $57,075 $791 5.93%

    For 2023, Grove City Area Federal Credit Union's most frequently originated type of loan was Conventional, with 106 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 51 $2,345,000 $45,980 $477 6.17%
    Other 29 $1,575,000 $54,310 $491 5.63%
    Cash Out Refi 12 $830,000 $69,167 $503 5.94%
    Home Purchase 7 $745,000 $106,429 $5,063 6.14%
    Refi 7 $555,000 $79,286 $538 5.28%

    For 2023, Grove City Area Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 51 originations. The 2nd most popular reason was Other, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 41 $3,265,000 $79,634 $1,295 6.90%
    10 Year 27 $1,065,000 $39,444 $472 5.78%
    Other 19 $1,105,000 $58,158 $497 5.18%
    5 Year 18 $590,000 $32,778 $450 4.83%
    3 Year 1 $25,000 $25,000 $428 4.50%

    For 2023, Grove City Area Federal Credit Union's most frequently cited loan duration was 15 Year, with 41 originations. The 2nd most popular length was 10 Year, with 27 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 106 $6,050,000 $57,075

    Grove City Area 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 106 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 51 $2,675,000 $52,451
    7-8% 27 $2,095,000 $77,593
    4-5% 19 $785,000 $41,316
    6-7% 6 $270,000 $45,000
    3-4% 3 $225,000 $75,000

    During 2023, Grove City Area Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 51 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 93 $4,155,000 $44,677 $673 5.88%
    $100k-200k 11 $1,485,000 $135,000 $1,825 6.11%
    $200k-400k 2 $410,000 $205,000 $583 7.25%

    2023 saw Grove City Area Federal Credit Union place emphasis on $100,000 or less loans with 93 originations, totaling $4,155,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 30 $1,780,000 $59,333 $1,017 5.82%
    $50k-75k 25 $1,315,000 $52,600 $1,133 6.04%
    $50k or less 22 $1,130,000 $51,364 $488 6.29%
    $100k-150k 21 $1,385,000 $65,952 $501 5.75%
    $150k-250k 6 $280,000 $46,667 $442 5.71%
    $250k+ 1 $65,000 $65,000 $534 5.00%

    Grove City Area Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 30 originations. The second most popular income band? $50k-75k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 30 $1,580,000 $52,667 $915 6.06%
    30-36% 17 $835,000 $49,118 $1,198 5.73%
    <20% 8 $470,000 $58,750 $519 5.25%
    50-60% 6 $500,000 $83,333 $525 6.62%
    40% 6 $340,000 $56,667 $1,569 6.25%
    44% 5 $325,000 $65,000 $488 6.15%
    42% 5 $295,000 $59,000 $509 5.60%
    38% 4 $280,000 $70,000 $485 6.31%
    39% 4 $280,000 $70,000 $571 5.93%
    43% 4 $160,000 $40,000 $455 5.75%
    37% 3 $115,000 $38,333 $463 6.25%
    36% 3 $125,000 $41,667 $487 5.67%
    46% 3 $275,000 $91,667 $497 6.50%
    41% 3 $195,000 $65,000 $535 5.58%
    45% 2 $60,000 $30,000 $407 5.75%
    48% 2 $120,000 $60,000 $492 5.75%

    Grove City Area Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 30 originations. The next most common DTI ratio? 30-36%, with 17 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 104 $5,990,000 $57,596 $798 5.94%
    Asian 2 $60,000 $30,000 $412 5.63%

    Approval Rates

    Total approvals of all applications
    83.53%

    Grove City Area Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.08%

    Grove City Area Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 106 $6,050,000 $57,075

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    106 $6,050,000 $57,075

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 35 $2,005,000 $57,286 $492 5.98%
    40-60% 13 $1,145,000 $88,077 $1,124 6.61%
    60-80% 17 $1,545,000 $90,882 $1,729 6.33%
    80-100% 3 $205,000 $68,333 $1,892 5.74%
    Under 20% 38 $1,150,000 $30,263 $445 5.49%