Freedom United Fcu Mortgage Rates, Fees & Info

Rochester, PA

LEI: 254900XNCZ58J8OHZO17

Tax ID: 25-0954108

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Mortgage Data

Review & Overview

Freedom United Fcu is a smaller credit union specializing in Home Improvement and Other loans. Freedom United Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Pittsburgh, New Castle, and Youngstown among others. We have data for 3 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.

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


Originations

45

Origination Dollar Volume (All Markets)

$2,845,000

Top Markets

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    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) 40 $2,530,000 $63,250 $0 4.16%
    New Castle, PA (FHA|USDA|VA) 4 $280,000 $70,000 $0 4.43%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.49%
    Freedom United Fcu's top markets include Pittsburgh, New Castle, and Youngstown among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 45 $2,845,000 $63,222 $0 4.19%

    For 2022, Freedom United Fcu's most frequently originated type of loan was Conventional, with 45 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 21 $1,095,000 $52,143 $0 3.97%
    Other 12 $730,000 $60,833 $0 4.35%
    Cash Out Refi 8 $560,000 $70,000 $0 4.71%
    Refi 4 $460,000 $115,000 $0 3.87%

    For 2022, Freedom United Fcu's most frequently cited loan purpose was Home Improvement, with 21 originations. The 2nd most popular reason was Other, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 20 $1,120,000 $56,000 $0 4.24%
    15 Year 17 $1,495,000 $87,941 $0 4.49%
    5 Year 7 $195,000 $27,857 $0 3.50%
    Other 1 $35,000 $35,000 $0 2.99%

    For 2022, Freedom United Fcu's most frequently cited loan duration was 10 Year, with 20 originations. The 2nd most popular length was 15 Year, with 17 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 23 $1,605,000 $69,783
    3-4% 14 $860,000 $61,429
    2.5-3% 4 $240,000 $60,000
    <2.5% 2 $80,000 $40,000
    5-6% 2 $60,000 $30,000

    During 2022, Freedom United Fcu's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 23 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 36 $1,630,000 $45,278 $0 4.19%
    $100k-200k 9 $1,215,000 $135,000 $0 4.21%

    2022 saw Freedom United Fcu place emphasis on $100,000 or less loans with 36 originations, totaling $1,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 13 $885,000 $68,077 $0 4.24%
    $75k-100k 11 $685,000 $62,273 $0 4.04%
    $100k-150k 10 $560,000 $56,000 $0 4.29%
    $50k or less 6 $280,000 $46,667 $0 4.41%
    $150k-250k 3 $175,000 $58,333 $0 4.08%
    $250k+ 2 $260,000 $130,000 $0 3.74%

    Freedom United Fcu lent most frequently to those with incomes in the $50k-75k range, with 13 originations. The second most popular income band? $75k-100k, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 44 $2,820,000 $64,091 $0 4.19%
    Black 1 $25,000 $25,000 $0 4.49%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 45 $2,845,000 $63,222

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    45 $2,845,000 $63,222

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Freedom Mortgage Company Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 8.8%
    Freedom Mortgage Company Conventional home mortgage Closing on a mortgage 2 5.9%
    Freedom Mortgage Company Conventional home mortgage Struggling to pay mortgage 2 5.9%
    Freedom Mortgage Company Conventional home mortgage Trouble during payment process 4 11.8%
    Freedom Mortgage Company FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 5.9%
    Freedom Mortgage Company FHA mortgage Closing on a mortgage 2 5.9%
    Freedom Mortgage Company FHA mortgage Struggling to pay mortgage 2 5.9%
    Freedom Mortgage Company FHA mortgage Trouble during payment process 8 23.5%
    Freedom Mortgage Company Other type of mortgage Closing on a mortgage 1 2.9%
    Freedom Mortgage Company Other type of mortgage Struggling to pay mortgage 1 2.9%
    Freedom Mortgage Company VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 5.9%
    Freedom Mortgage Company VA mortgage Incorrect information on your report 1 2.9%
    Freedom Mortgage Company VA mortgage Trouble during payment process 4 11.8%