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

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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

    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 (well, only) market is Pittsburgh.

    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.

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    Originations

    44

    Origination Dollar Volume (All Markets)

    $3,140,000

    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) 42 $2,920,000 $69,524 $533 5.44%
    Outside of Metro Areas 2 $220,000 $110,000 $550 6.12%
    Chrome Federal Credit Union's top markets include and Pittsburgh among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 44 $3,140,000 $71,364 $534 5.47%

    For 2019, Chrome Federal Credit Union's most frequently originated type of loan was Conventional, with 44 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 25 $1,275,000 $51,000 $410 5.55%
    Refi 15 $1,405,000 $93,667 $486 5.29%
    Home Purchase 3 $355,000 $118,333 $1,615 5.74%
    Cash Out Refi 1 $105,000 $105,000 $692 5.24%

    For 2019, Chrome Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 25 originations. The 2nd most popular reason was Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 16 $1,370,000 $85,625 $450 5.60%
    10 Year 12 $590,000 $49,167 $403 5.55%
    20 Year 6 $560,000 $93,333 $723 5.78%
    Other 5 $335,000 $67,000 $420 4.94%
    5 Year 3 $75,000 $25,000 $375 4.07%
    30 Year 2 $210,000 $105,000 $1,674 6.37%

    For 2019, Chrome Federal Credit Union's most frequently cited loan duration was 15 Year, with 16 originations. The 2nd most popular length was 10 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 40 $2,890,000 $72,250

    Chrome Federal Credit Union's average total fees were $1,674, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 40 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 21 $1,385,000 $65,952
    4-5% 10 $750,000 $75,000
    6-7% 5 $545,000 $109,000
    3-4% 4 $140,000 $35,000
    Over 8% 2 $40,000 $20,000
    2.5-3% 1 $185,000 $185,000
    7-8% 1 $95,000 $95,000

    During 2019, Chrome Federal Credit Union's average interest rate for loans was 6.37%, while their most frequently originated rate bucket for loans was 5-6%, with 21 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 36 $1,980,000 $55,000 $499 5.53%
    $100k-200k 8 $1,160,000 $145,000 $699 5.18%

    2019 saw Chrome Federal Credit Union place emphasis on $100,000 or less loans with 36 originations, totaling $1,980,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 12 $740,000 $61,667 $403 5.24%
    $50k-75k 11 $855,000 $77,727 $754 5.67%
    $50k or less 9 $505,000 $56,111 $546 5.80%
    $75k-100k 8 $520,000 $65,000 $445 5.64%
    $150k-250k 3 $335,000 $111,667 $575 4.99%

    Chrome Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $50k-75k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 19 $1,065,000 $56,053 $510 5.30%
    30-36% 8 $650,000 $81,250 $454 5.30%
    43% 4 $400,000 $100,000 $938 6.93%
    38% 3 $245,000 $81,667 $587 5.74%
    44% 2 $150,000 $75,000 $673 5.87%
    <20% 2 $80,000 $40,000 $375 4.87%
    >60% 1 $185,000 $185,000 $0 3.00%
    36% 1 $25,000 $25,000 $0 5.74%
    39% 1 $55,000 $55,000 $475 5.24%
    40% 1 $55,000 $55,000 $375 5.74%
    41% 1 $85,000 $85,000 $375 5.49%
    42% 1 $145,000 $145,000 $625 5.74%

    Chrome Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? 30-36%, with 8 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 44 $3,140,000 $71,364 $534 5.47%

    Approval Rates

    Total approvals of all applications
    70.97%

    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 44 $3,140,000 $71,364

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 44 $3,140,000 $71,364

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $920,000 $76,667 $403 5.01%
    40-60% 12 $1,290,000 $107,500 $584 5.43%
    60-80% 7 $455,000 $65,000 $566 5.85%
    80-100% 4 $280,000 $70,000 $904 5.18%
    Under 20% 9 $195,000 $21,667 $393 5.96%