Wepco Federal Credit Union Mortgage Rates, Fees & Info
Bloomington, MDLEI: 254900ZUMZZ6CZKH7X17
Tax ID: 52-0627367
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Wepco Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Wepco Federal Credit Union has a high proportion of conventional loans. Their top two markets are Cumberland and Morgantown .Wepco 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.
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Originations
50Origination Dollar Volume (All Markets)
$4,100,000Top 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 |
|---|---|---|---|---|---|
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 23 | $2,225,000 | $96,739 | $0 | 0.00% |
| Outside of Metro Areas | 19 | $1,165,000 | $61,316 | $0 | 0.00% |
| MORGANTOWN, WV (FHA|USDA|VA) | 8 | $710,000 | $88,750 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 50 | $4,100,000 | $82,000 | $0 | 0.00% |
For 2023, Wepco Federal Credit Union's most frequently originated type of loan was Conventional, with 50 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 29 | $2,305,000 | $79,483 | $0 | 0.00% |
| Home Purchase | 19 | $1,715,000 | $90,263 | $0 | 0.00% |
| Cash Out Refi | 2 | $80,000 | $40,000 | $0 | 0.00% |
For 2023, Wepco Federal Credit Union's most frequently cited loan purpose was Refi, with 29 originations. The 2nd most popular reason was Home Purchase, with 19 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 50 | $4,100,000 | $82,000 | $0 | 0.00% |
For 2023, Wepco Federal Credit Union's most frequently cited loan duration was Other, with 50 originations.
Loan Sizing
2023 saw Wepco Federal Credit Union place emphasis on $100,000 or less loans with 36 originations, totaling $1,950,000 in origination value.
Applicant Income
Wepco Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 10 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 50 | $4,100,000 | $82,000 | $0 | 0.00% |
Wepco Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 50 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 49 | $3,935,000 | $80,306 | $0 | 0.00% |
| Black | 1 | $165,000 | $165,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications84.04%
Wepco Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination78.00%
Wepco Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 50 | $4,100,000 | $82,000 |