Mercer County Community Fcu Mortgage Rates, Fees & Info
Sharon, PALEI: 5493003UEX61E91S2B54
Tax ID: 25-6051699
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Mortgage Data
Review & Overview
Mercer County Community Fcu is a smaller credit union specializing in Home Improvement and Refi loans. Mercer County Community Fcu has a high proportion of conventional loans. Their top two markets are Youngstown and New Castle .Mercer County Community Fcu has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
24Origination Dollar Volume (All Markets)
$890,000Top Markets
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| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 23 | $825,000 | $35,870 | $0 | 0.00% |
| New Castle, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 24 | $890,000 | $37,083 | $0 | 0.00% |
For 2023, Mercer County Community Fcu's most frequently originated type of loan was Conventional, with 24 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 13 | $605,000 | $46,538 | $0 | 0.00% |
| Refi | 10 | $260,000 | $26,000 | $0 | 0.00% |
| Other | 1 | $25,000 | $25,000 | $0 | 0.00% |
For 2023, Mercer County Community Fcu's most frequently cited loan purpose was Home Improvement, with 13 originations. The 2nd most popular reason was Refi, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 24 | $890,000 | $37,083 | $0 | 0.00% |
For 2023, Mercer County Community Fcu's most frequently cited loan duration was Other, with 24 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 22 | $680,000 | $30,909 | $0 | 0.00% |
| $100k-200k | 2 | $210,000 | $105,000 | $0 | 0.00% |
2023 saw Mercer County Community Fcu place emphasis on $100,000 or less loans with 22 originations, totaling $680,000 in origination value.
Applicant Income
Mercer County Community Fcu lent most frequently to those with incomes in the $75k-100k range, with 7 originations. The second most popular income band? $50k-75k, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 24 | $890,000 | $37,083 | $0 | 0.00% |
Mercer County Community Fcu lent most frequently to those with DTI ratios of Exempt%, with 24 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 23 | $865,000 | $37,609 | $0 | 0.00% |
| Black | 1 | $25,000 | $25,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Mercer County Community Fcu has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination91.67%
Mercer County Community Fcu has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 24 | $890,000 | $37,083 |