Pioneer Valley Federal Credit Union Mortgage Rates, Fees & Info
Springfield, MALEI: 5493001YS08XHF42M037
Tax ID: 04-1288380
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Mortgage Data
Review & Overview
Pioneer Valley Federal Credit Union is a smaller credit union specializing in Refi loans. Pioneer Valley Federal Credit Union has a high proportion of conventional loans.Pioneer Valley 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
25Origination Dollar Volume (All Markets)
$2,995,000Top Markets
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| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Outside of Metro Areas | 25 | $2,995,000 | $119,800 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 25 | $2,995,000 | $119,800 | $0 | 0.00% |
For 2019, Pioneer Valley Federal Credit Union's most frequently originated type of loan was Conventional, with 25 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 15 | $2,445,000 | $163,000 | $0 | 0.00% |
| Home Improvement | 8 | $260,000 | $32,500 | $0 | 0.00% |
| Home Purchase | 2 | $290,000 | $145,000 | $0 | 0.00% |
For 2019, Pioneer Valley Federal Credit Union's most frequently cited loan purpose was Refi, with 15 originations. The 2nd most popular reason was Home Improvement, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 25 | $2,995,000 | $119,800 | $0 | 0.00% |
For 2019, Pioneer Valley Federal Credit Union's most frequently cited loan duration was Other, with 25 originations.
Loan Sizing
2019 saw Pioneer Valley Federal Credit Union place emphasis on $100,000 or less loans with 12 originations, totaling $460,000 in origination value.
Applicant Income
Pioneer Valley Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 6 originations. The second most popular income band? $100k-150k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 25 | $2,995,000 | $119,800 | $0 | 0.00% |
Pioneer Valley Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 25 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 23 | $2,745,000 | $119,348 | $0 | 0.00% |
| Asian | 1 | $235,000 | $235,000 | $0 | 0.00% |
| Black | 1 | $15,000 | $15,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications82.86%
Pioneer Valley Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination84.00%
Pioneer Valley Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 25 | $2,995,000 | $119,800 |