Wepco Federal Credit Union Mortgage Rates, Fees & Info

Bloomington, MD

LEI: 254900ZUMZZ6CZKH7X17

Tax ID: 52-0627367

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Wepco Federal Credit Union is a smaller credit union specializing in Cash Out 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

    54

    Origination Dollar Volume (All Markets)

    $4,750,000

    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) 33 $3,415,000 $103,485 $0 0.00%
    Outside of Metro Areas 12 $730,000 $60,833 $0 0.00%
    MORGANTOWN, WV (FHA|USDA|VA) 9 $605,000 $67,222 $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 54 $4,750,000 $87,963 $0 0.00%

    For 2024, Wepco Federal Credit Union's most frequently originated type of loan was Conventional, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 43 $3,745,000 $87,093 $0 0.00%
    Home Purchase 11 $1,005,000 $91,364 $0 0.00%

    For 2024, Wepco Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 43 originations. The 2nd most popular reason was Home Purchase, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 54 $4,750,000 $87,963 $0 0.00%

    For 2024, Wepco Federal Credit Union's most frequently cited loan duration was Other, with 54 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 38 $2,010,000 $52,895 $0 0.00%
    $100k-200k 13 $1,995,000 $153,462 $0 0.00%
    $200k-400k 3 $745,000 $248,333 $0 0.00%

    2024 saw Wepco Federal Credit Union place emphasis on $100,000 or less loans with 38 originations, totaling $2,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 15 $825,000 $55,000 $0 0.00%
    $100k-150k 13 $1,405,000 $108,077 $0 0.00%
    $50k-75k 13 $1,215,000 $93,462 $0 0.00%
    $75k-100k 13 $1,305,000 $100,385 $0 0.00%

    Wepco Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 15 originations. The second most popular income band? $100k-150k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 54 $4,750,000 $87,963 $0 0.00%

    Wepco Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 54 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 53 $4,675,000 $88,208 $0 0.00%
    Asian 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    80.22%

    Wepco Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    64.81%

    Wepco Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 54 $4,750,000 $87,963

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    54 $4,750,000 $87,963