Freedom United Fcu Mortgage Rates, Fees & Info
Rochester, PALEI: 254900XNCZ58J8OHZO17
Tax ID: 25-0954108
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Mortgage Data
Review & Overview
Freedom United Fcu is a smaller credit union specializing in Refi and Other loans. Freedom United Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Pittsburgh, Youngstown, New Castle, Oil City, and Warren among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Freedom United Fcu has an above 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 | 5.60% | 12/17/24 |
| 15 Year Cash-out Refi | 5.60% | 12/17/24 |
| 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. | ||
Freedom United Fcu Mortgage Calculator
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Originations
40Origination Dollar Volume (All Markets)
$2,520,000Top 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 |
|---|---|---|---|---|---|
| PITTSBURGH, PA (FHA|USDA|VA) | 36 | $2,290,000 | $63,611 | $0 | 0.00% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| New Castle, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Oil City, PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| Warren, PA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 40 | $2,520,000 | $63,000 | $0 | 0.00% |
For 2020, Freedom United Fcu's most frequently originated type of loan was Conventional, with 40 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 22 | $1,600,000 | $72,727 | $0 | 0.00% |
| Other | 10 | $560,000 | $56,000 | $0 | 0.00% |
| Home Improvement | 8 | $360,000 | $45,000 | $0 | 0.00% |
For 2020, Freedom United Fcu's most frequently cited loan purpose was Refi, with 22 originations. The 2nd most popular reason was Other, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 40 | $2,520,000 | $63,000 | $0 | 0.00% |
For 2020, Freedom United Fcu's most frequently cited loan duration was Other, with 40 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 31 | $1,435,000 | $46,290 | $0 | 0.00% |
| $100k-200k | 9 | $1,085,000 | $120,556 | $0 | 0.00% |
2020 saw Freedom United Fcu place emphasis on $100,000 or less loans with 31 originations, totaling $1,435,000 in origination value.
Applicant Income
Freedom United Fcu lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $50k-75k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 40 | $2,520,000 | $63,000 | $0 | 0.00% |
Freedom United Fcu lent most frequently to those with DTI ratios of Exempt%, with 40 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 40 | $2,520,000 | $63,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Freedom United Fcu has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination95.00%
Freedom United Fcu has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 40 | $2,520,000 | $63,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 40 | $2,520,000 | $63,000 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Freedom Mortgage Company | VA mortgage | Trouble during payment process | 99 | 12.4% |
| Freedom Mortgage Company | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 50 | 6.3% |
| Freedom Mortgage Company | Conventional home mortgage | Closing on a mortgage | 33 | 4.1% |
| Freedom Mortgage Company | Conventional home mortgage | Credit monitoring or identity theft protection services | 1 | 0.1% |
| Freedom Mortgage Company | Conventional home mortgage | Improper use of your report | 1 | 0.1% |
| Freedom Mortgage Company | Conventional home mortgage | Incorrect information on your report | 6 | 0.8% |
| Freedom Mortgage Company | Conventional home mortgage | Problem with a credit reporting company's investigation into an existing problem | 4 | 0.5% |
| Freedom Mortgage Company | Conventional home mortgage | Struggling to pay mortgage | 34 | 4.3% |
| Freedom Mortgage Company | Conventional home mortgage | Trouble during payment process | 142 | 17.8% |
| Freedom Mortgage Company | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 48 | 6.0% |
| Freedom Mortgage Company | FHA mortgage | Closing on a mortgage | 25 | 3.1% |
| Freedom Mortgage Company | FHA mortgage | Incorrect information on your report | 9 | 1.1% |
| Freedom Mortgage Company | FHA mortgage | Problem with a credit reporting company's investigation into an existing problem | 8 | 1.0% |
| Freedom Mortgage Company | FHA mortgage | Struggling to pay mortgage | 64 | 8.0% |
| Freedom Mortgage Company | FHA mortgage | Trouble during payment process | 95 | 11.9% |
| Freedom Mortgage Company | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 6 | 0.8% |
| Freedom Mortgage Company | Other type of mortgage | Closing on a mortgage | 4 | 0.5% |
| Freedom Mortgage Company | Other type of mortgage | Struggling to pay mortgage | 7 | 0.9% |
| Freedom Mortgage Company | Other type of mortgage | Trouble during payment process | 5 | 0.6% |
| Freedom Mortgage Company | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 67 | 8.4% |
| Freedom Mortgage Company | VA mortgage | Closing on a mortgage | 55 | 6.9% |
| Freedom Mortgage Company | VA mortgage | Incorrect information on your report | 4 | 0.5% |
| Freedom Mortgage Company | VA mortgage | Problem with a credit reporting company's investigation into an existing problem | 6 | 0.8% |
| Freedom Mortgage Company | VA mortgage | Struggling to pay mortgage | 27 | 3.4% |