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

Grove City, PA

LEI: 254900XJCLA0W3K4J455

Tax ID: 25-0970727

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

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Mortgage Data

Review & Overview

Grove City Area Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Other loans. Grove City Area Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Youngstown, Pittsburgh, Oil City, New Castle, and Meadville among others. We have data for 5 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% 3/17/24
15 Year Conventional Refi 5.04% 3/17/24
15 Year Cash-out Refi 5.04% 3/17/24
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

124

Origination Dollar Volume (All Markets)

$11,620,000

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) 89 $8,095,000 $90,955 $1,007 3.57%
PITTSBURGH, PA (FHA|USDA|VA) 20 $1,820,000 $91,000 $537 3.57%
Oil City, PA (FHA|USDA|VA) 12 $1,560,000 $130,000 $2,131 3.48%
New Castle, PA (FHA|USDA|VA) 2 $120,000 $60,000 $2,444 5.12%
Meadville, PA (FHA|USDA|VA) 1 $25,000 $25,000 $387 2.25%
Grove City Area Federal Credit Union's top markets include Youngstown, Pittsburgh, Oil City, New Castle, and Meadville among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 124 $11,620,000 $93,710 $1,058 3.57%

    For 2022, Grove City Area Federal Credit Union's most frequently originated type of loan was Conventional, with 124 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 50 $5,730,000 $114,600 $549 3.58%
    Home Improvement 31 $1,355,000 $43,710 $463 3.60%
    Other 20 $2,590,000 $129,500 $524 3.60%
    Refi 12 $910,000 $75,833 $522 3.25%
    Home Purchase 11 $1,035,000 $94,091 $6,604 3.79%

    For 2022, Grove City Area Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 50 originations. The 2nd most popular reason was Home Improvement, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 57 $6,415,000 $112,544 $1,659 3.87%
    Other 26 $2,050,000 $78,846 $496 3.33%
    10 Year 23 $1,915,000 $83,261 $657 3.54%
    5 Year 18 $1,240,000 $68,889 $478 3.03%

    For 2022, Grove City Area Federal Credit Union's most frequently cited loan duration was 15 Year, with 57 originations. The 2nd most popular length was Other, with 26 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 124 $11,620,000 $93,710

    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 124 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 69 $7,965,000 $115,435
    2.5-3% 21 $1,705,000 $81,190
    4-5% 13 $745,000 $57,308
    5-6% 11 $725,000 $65,909
    <2.5% 10 $480,000 $48,000

    During 2022, 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 3-4%, with 69 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 81 $4,295,000 $53,025 $856 3.59%
    $100k-200k 32 $4,110,000 $128,438 $1,300 3.56%
    $200k-400k 8 $1,870,000 $233,750 $2,301 3.59%
    $400k-600k 3 $1,345,000 $448,333 $625 3.33%

    2022 saw Grove City Area Federal Credit Union place emphasis on $100,000 or less loans with 81 originations, totaling $4,295,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 32 $1,820,000 $56,875 $1,319 3.64%
    $50k-75k 31 $2,525,000 $81,452 $1,261 3.62%
    $100k-150k 27 $3,755,000 $139,074 $1,045 3.65%
    $75k-100k 26 $2,560,000 $98,462 $670 3.46%
    $150k-250k 5 $325,000 $65,000 $529 3.40%
    $250k+ 1 $405,000 $405,000 $520 3.25%

    Grove City Area Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 32 originations. The second most popular income band? $50k-75k, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 34 $3,220,000 $94,706 $1,530 3.53%
    30-36% 28 $2,370,000 $84,643 $899 3.62%
    <20% 20 $1,130,000 $56,500 $884 3.29%
    50-60% 6 $340,000 $56,667 $440 2.83%
    42% 5 $345,000 $69,000 $536 4.34%
    43% 4 $320,000 $80,000 $550 3.62%
    38% 4 $220,000 $55,000 $494 4.06%
    37% 3 $345,000 $115,000 $616 4.66%
    44% 3 $555,000 $185,000 $546 4.33%
    39% 3 $385,000 $128,333 $524 3.00%
    45% 3 $195,000 $65,000 $517 3.00%
    47% 2 $460,000 $230,000 $7,341 4.13%
    40% 2 $300,000 $150,000 $580 3.49%
    36% 2 $210,000 $105,000 $557 3.12%
    41% 2 $340,000 $170,000 $620 3.74%
    >60% 1 $505,000 $505,000 $677 3.25%
    46% 1 $35,000 $35,000 $432 5.99%
    48% 1 $345,000 $345,000 $895 3.49%

    Grove City Area Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 34 originations. The next most common DTI ratio? 30-36%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 122 $11,540,000 $94,590 $1,068 3.59%
    Guamanian 1 $65,000 $65,000 $507 3.25%
    Black 1 $15,000 $15,000 $432 2.25%

    Approval Rates

    Total approvals of all applications
    87.29%

    Grove City Area Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.65%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 124 $11,620,000 $93,710

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    124 $11,620,000 $93,710

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $1,290,000 $58,636 $502 3.82%
    40-60% 20 $3,040,000 $152,000 $1,221 3.30%
    60-80% 50 $5,400,000 $108,000 $1,456 3.60%
    80-100% 11 $1,245,000 $113,182 $1,257 3.72%
    Under 20% 21 $645,000 $30,714 $434 3.45%