Friendly Federal Credit Union Mortgage Rates, Fees & Info
Aliquippa, PALEI: 5493002HFXKKQDK8PH83
Tax ID: 25-1037987
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Mortgage Data
Review & Overview
Friendly Federal Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. Friendly Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Pittsburgh.Friendly Federal Credit Union has an above average approval rate when compared to the average across all lenders.
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Originations
55Origination Dollar Volume (All Markets)
$3,865,000Top 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) | 55 | $3,865,000 | $70,273 | $0 | 2.90% |
Their top states include:
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 55 | $3,865,000 | $70,273 | $0 | 2.90% |
For 2021, Friendly Federal Credit Union's most frequently originated type of loan was Conventional, with 55 originations.
Loan Reason
For 2021, Friendly Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 40 originations. The 2nd most popular reason was Refi, with 9 originations.
Loan Duration/Length
For 2021, Friendly Federal Credit Union's most frequently cited loan duration was 10 Year, with 41 originations. The 2nd most popular length was 20 Year, with 7 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 45 | $2,585,000 | $57,444 |
3-4% | 9 | $1,005,000 | $111,667 |
<2.5% | 1 | $275,000 | $275,000 |
During 2021, Friendly Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 45 originations.
Loan Sizing
2021 saw Friendly Federal Credit Union place emphasis on $100,000 or less loans with 43 originations, totaling $1,645,000 in origination value.
Applicant Income
Friendly Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 15 originations. The second most popular income band? $75k-100k, with 12 originations.
Applicant Debt to Income Ratio
Friendly Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 27 originations. The next most common DTI ratio? <20%, with 14 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
White | 50 | $3,580,000 | $71,600 | $0 | 2.89% |
Black | 5 | $285,000 | $57,000 | $0 | 2.95% |
Approval Rates
Total approvals of all applications96.49%
Friendly Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 55 | $3,865,000 | $70,273 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
Fairway Independent Mortgage Corporation | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 11 | 22.9% |
Fairway Independent Mortgage Corporation | Conventional home mortgage | Closing on a mortgage | 3 | 6.3% |
Fairway Independent Mortgage Corporation | Conventional home mortgage | Struggling to pay mortgage | 3 | 6.3% |
Fairway Independent Mortgage Corporation | Conventional home mortgage | Trouble during payment process | 11 | 22.9% |
Fairway Independent Mortgage Corporation | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 4.2% |
Fairway Independent Mortgage Corporation | FHA mortgage | Closing on a mortgage | 3 | 6.3% |
Fairway Independent Mortgage Corporation | FHA mortgage | Struggling to pay mortgage | 1 | 2.1% |
Fairway Independent Mortgage Corporation | FHA mortgage | Trouble during payment process | 2 | 4.2% |
Fairway Independent Mortgage Corporation | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.1% |
Fairway Independent Mortgage Corporation | Other type of mortgage | Closing on a mortgage | 3 | 6.3% |
Fairway Independent Mortgage Corporation | Other type of mortgage | Struggling to pay mortgage | 1 | 2.1% |
Fairway Independent Mortgage Corporation | Reverse mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.1% |
Fairway Independent Mortgage Corporation | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 4.2% |
Fairway Independent Mortgage Corporation | VA mortgage | Closing on a mortgage | 1 | 2.1% |
Fairway Independent Mortgage Corporation | VA mortgage | Trouble during payment process | 3 | 6.3% |