Wepco Federal Credit Union Mortgage Rates, Fees & Info

Bloomington, MD

LEI: 254900ZUMZZ6CZKH7X17

Tax ID: 52-0627367

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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

50

Origination Dollar Volume (All Markets)

$4,100,000

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
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%
Wepco Federal Credit Union's top markets include Cumberland and Morgantown among others.

Their top states include:
  • West Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • 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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 36 $1,950,000 $54,167 $0 0.00%
    $100k-200k 12 $1,700,000 $141,667 $0 0.00%
    $200k-400k 2 $450,000 $225,000 $0 0.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 10 $920,000 $92,000 $0 0.00%
    $50k-75k 7 $665,000 $95,000 $0 0.00%
    $75k-100k 3 $175,000 $58,333 $0 0.00%
    $100k-150k 1 $35,000 $35,000 $0 0.00%

    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 applications
    84.04%

    Wepco Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    78.00%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    50 $4,100,000 $82,000