Chrome Federal Credit Union Mortgage Rates, Fees & Info

WASHINGTON, PA

LEI: 5493000VGTLMMLXLP518

Tax ID: 25-6133620

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

Jump to:

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

    Chrome Federal Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. Chrome Federal Credit Union has a high proportion of conventional loans. Their top two markets are Pittsburgh and Youngstown .

    Chrome Federal Credit Union has an average approval rate when compared to the average across all lenders. Chrome Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    57

    Origination Dollar Volume (All Markets)

    $4,245,000

    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
    PITTSBURGH, PA (FHA|USDA|VA) 52 $4,000,000 $76,923 $559 6.07%
    Outside of Metro Areas 4 $190,000 $47,500 $413 6.30%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $55,000 $55,000 $350 7.24%
    Chrome Federal Credit Union's top markets include Pittsburgh 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 57 $4,245,000 $74,474 $544 6.10%

    For 2018, Chrome Federal Credit Union's most frequently originated type of loan was Conventional, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 30 $1,360,000 $45,333 $427 6.38%
    Refi 23 $2,575,000 $111,957 $560 5.81%
    Home Purchase 4 $310,000 $77,500 $1,319 5.74%

    For 2018, Chrome Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 30 originations. The 2nd most popular reason was Refi, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 18 $1,360,000 $75,556 $413 5.84%
    15 Year 14 $1,200,000 $85,714 $479 6.47%
    20 Year 7 $695,000 $99,286 $377 7.03%
    5 Year 7 $165,000 $23,571 $425 5.49%
    Other 7 $385,000 $55,000 $483 6.24%
    30 Year 4 $440,000 $110,000 $1,867 5.24%

    For 2018, Chrome Federal Credit Union's most frequently cited loan duration was 10 Year, with 18 originations. The 2nd most popular length was 15 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 54 $3,920,000 $72,593

    Chrome Federal Credit Union's average total fees were $1,867, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 54 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 23 $1,625,000 $70,652
    4-5% 13 $1,205,000 $92,692
    6-7% 8 $460,000 $57,500
    7-8% 6 $460,000 $76,667
    Over 8% 6 $270,000 $45,000
    3-4% 1 $225,000 $225,000

    During 2018, Chrome Federal Credit Union's average interest rate for loans was 5.24%, while their most frequently originated rate bucket for loans was 5-6%, with 23 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 44 $1,970,000 $44,773 $475 6.27%
    $100k-200k 10 $1,340,000 $134,000 $934 5.82%
    $200k-400k 3 $935,000 $311,667 $350 4.66%

    2018 saw Chrome Federal Credit Union place emphasis on $100,000 or less loans with 44 originations, totaling $1,970,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 16 $860,000 $53,750 $418 6.13%
    $50k or less 15 $645,000 $43,000 $520 6.31%
    $100k-150k 12 $1,060,000 $88,333 $446 6.24%
    $75k-100k 10 $670,000 $67,000 $915 5.87%
    $150k-250k 4 $1,010,000 $252,500 $438 5.43%

    Chrome Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 16 originations. The second most popular income band? $50k or less, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 20 $1,420,000 $71,000 $538 6.12%
    30-36% 11 $875,000 $79,545 $371 6.29%
    42% 5 $575,000 $115,000 $827 5.04%
    39% 3 $225,000 $75,000 $407 5.49%
    41% 3 $175,000 $58,333 $493 6.41%
    50-60% 3 $105,000 $35,000 $570 5.16%
    40% 2 $140,000 $70,000 $393 8.24%
    38% 2 $70,000 $35,000 $350 6.37%
    <20% 2 $50,000 $25,000 $350 7.49%
    49% 2 $260,000 $130,000 $700 6.87%
    44% 1 $35,000 $35,000 $350 4.49%
    45% 1 $65,000 $65,000 $0 5.24%
    36% 1 $105,000 $105,000 $435 7.24%
    37% 1 $145,000 $145,000 $2,712 5.24%

    Chrome Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 57 $4,245,000 $74,474 $544 6.10%

    Approval Rates

    Total approvals of all applications
    73.42%

    Chrome Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 57 $4,245,000 $74,474

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $85,000 $85,000
    Single Family (1-4 Units):Site-Built 56 $4,160,000 $74,286

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $870,000 $54,375 $421 6.76%
    40-60% 8 $670,000 $83,750 $489 5.80%
    60-80% 10 $1,440,000 $144,000 $586 6.19%
    80-100% 8 $790,000 $98,750 $1,123 5.99%
    Under 20% 15 $475,000 $31,667 $441 5.57%