Everence Federal Credit Union Mortgage Rates, Fees & Info

Lancaster, PA

LEI: 54930053KPO7OG48FP72

Tax ID: 25-1504457

5 stars - Updated: 3/17/24 - out of 5 stars, based on 19 reviews

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

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Mortgage Data

Review & Overview

Everence Federal Credit Union is a smaller credit union specializing in Other, Home Purchase, and Cash Out Refi loans. Everence Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: North Port, Lancaster, Elkhart, Wooster, and Philadelphia among others. We have data for 53 markets. (Some data included below & more in-depth data is available with an active subscription.)

Everence Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Everence 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 about average 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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 7.57% 3/17/24
30 Year Conventional Refi 8.06% 3/17/24
30 Year Cash-out Refi 7.53% 3/17/24
15 Year Conventional Purchase 6.51% 3/17/24
15 Year Conventional Refi 6.10% 3/17/24
15 Year Cash-out Refi 6.10% 3/17/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Everence Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Everence Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

355

Origination Dollar Volume (All Markets)

$47,265,000

Awards

EVERENCE FEDERAL CREDIT UNION 30 Year Conventional Loans gold EVERENCE FEDERAL CREDIT UNION 30 Year Conventional Loans gold EVERENCE FEDERAL CREDIT UNION 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Everence Federal Credit Union's average 30 year fixed mortgage rate was 3.89%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.87%.

Relative Fees (Closing Costs)

Everence Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,386.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

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
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 52 $10,320,000 $198,462 $2,427 3.14%
LANCASTER, PA (FHA|USDA|VA) 75 $9,565,000 $127,533 $972 3.41%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 68 $8,080,000 $118,824 $1,727 4.82%
Wooster, OH (FHA|USDA|VA) 22 $2,340,000 $106,364 $850 3.07%
Outside of Metro Areas 13 $2,065,000 $158,846 $1,373 3.53%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 17 $1,975,000 $116,176 $1,801 4.00%
HARRISONBURG, VA (FHA|USDA|VA) 14 $1,890,000 $135,000 $1,591 2.98%
Lewistown, PA (FHA|USDA|VA) 19 $1,555,000 $81,842 $1,403 4.11%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 5 $725,000 $145,000 $4,185 4.55%
CANTON-MASSILLON, OH (FHA|USDA|VA) 6 $620,000 $103,333 $1,079 3.54%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $555,000 $555,000 $0 1.99%
READING, PA (FHA|USDA|VA) 5 $555,000 $111,000 $533 4.42%
LEBANON, PA (FHA|USDA|VA) 4 $540,000 $135,000 $811 4.78%
STAUNTON, VA (FHA|USDA|VA) 4 $490,000 $122,500 $2,666 5.15%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $485,000 $485,000 $3,324 5.00%
FORT COLLINS, CO (FHA|USDA|VA) 2 $450,000 $225,000 $0 1.99%
Greeneville, TN (FHA|USDA|VA) 1 $375,000 $375,000 $3,655 5.25%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $345,000 $345,000 $1,057 3.99%
YORK-HANOVER, PA (FHA|USDA|VA) 4 $330,000 $82,500 $308 5.43%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 3 $305,000 $101,667 $2,217 5.29%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $275,000 $275,000 $2,667 3.63%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $245,000 $245,000 $0 1.99%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $225,000 $225,000 $1,188 4.63%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $215,000 $215,000 $0 1.99%
COLUMBUS, OH (FHA|USDA|VA) 2 $190,000 $95,000 $1,740 5.13%
Martinsville, VA (FHA|USDA|VA) 2 $190,000 $95,000 $2,612 6.81%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,791 5.88%
Plymouth, IN (FHA|USDA|VA) 2 $160,000 $80,000 $305 5.37%
Arcadia, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 1.99%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 1.99%
PITTSBURGH, PA (FHA|USDA|VA) 2 $150,000 $75,000 $785 4.50%
Lewisburg, PA (FHA|USDA|VA) 1 $135,000 $135,000 $0 1.99%
GREELEY, CO (FHA|USDA|VA) 1 $135,000 $135,000 $384 3.99%
Kendallville, IN (FHA|USDA|VA) 1 $125,000 $125,000 $2,285 6.25%
Indiana, PA (FHA|USDA|VA) 1 $125,000 $125,000 $3,696 7.50%
Pottsville, PA (FHA|USDA|VA) 2 $110,000 $55,000 $0 5.13%
Sturgis, MI (FHA|USDA|VA) 1 $105,000 $105,000 $2,525 5.88%
WICHITA, KS (FHA|USDA|VA) 1 $105,000 $105,000 $1,122 3.63%
Russellville, AR (FHA|USDA|VA) 1 $95,000 $95,000 $2,153 6.50%
Selinsgrove, PA (FHA|USDA|VA) 1 $85,000 $85,000 $0 3.99%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $65,000 $65,000 $363 3.49%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $65,000 $65,000 $0 1.99%
Huntingdon, PA (FHA|USDA|VA) 1 $65,000 $65,000 $280 3.74%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $65,000 $65,000 $0 1.99%
RICHMOND, VA (FHA|USDA|VA) 1 $55,000 $55,000 $0 1.99%
NILES, MI (FHA|USDA|VA) 1 $45,000 $45,000 $0 1.99%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $35,000 $35,000 $393 3.24%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.24%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $25,000 $25,000 $458 2.75%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.99%
Ottawa, IL (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.99%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $25,000 $25,000 $350 2.99%
STATE COLLEGE, PA (FHA|USDA|VA) 1 $15,000 $15,000 $280 3.25%
Everence Federal Credit Union's top markets include North Port, Lancaster, Elkhart, Wooster, and Philadelphia among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against EVERENCE FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 213 $29,315,000 $137,629 $1,540 4.98%
    HELOC 142 $17,950,000 $126,408 n/a 2.12%

    For 2022, Everence Federal Credit Union's most frequently originated type of loan was Conventional, with 213 originations. Their 2nd most popular type was HELOC, with 142 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 158 $15,820,000 $100,127 $386 2.86%
    Home Purchase 86 $14,320,000 $166,512 $2,723 5.83%
    Cash Out Refi 70 $11,220,000 $160,286 $947 3.71%
    Refi 41 $5,905,000 $144,024 $370 3.64%

    For 2022, Everence Federal Credit Union's most frequently cited loan purpose was Other, with 158 originations. The 2nd most popular reason was Home Purchase, with 86 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 186 $28,350,000 $152,419 $2,386 3.89%
    15 Year 77 $10,565,000 $137,208 $1,096 4.47%
    10 Year 49 $3,215,000 $65,612 $355 4.16%
    20 Year 34 $3,880,000 $114,118 $0 2.09%
    Other 9 $1,255,000 $139,444 $0 2.21%

    For 2022, Everence Federal Credit Union's most frequently cited loan duration was 30 Year, with 186 originations. The 2nd most popular length was 15 Year, with 77 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 164 $22,690,000 $138,354

    Everence Federal Credit Union's average total fees were $2,386, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 164 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 131 $16,275,000 $124,237
    3-4% 69 $9,515,000 $137,899
    4-5% 43 $7,385,000 $171,744
    5-6% 40 $4,810,000 $120,250
    6-7% 29 $4,165,000 $143,621
    2.5-3% 20 $1,840,000 $92,000
    7-8% 11 $1,575,000 $143,182
    Over 8% 11 $1,625,000 $147,727

    During 2022, Everence Federal Credit Union's average interest rate for loans was 3.89%, while their most frequently originated rate bucket for loans was <2.5%, with 131 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 167 $9,345,000 $55,958 $910 3.57%
    $100k-200k 122 $17,340,000 $142,131 $1,690 4.17%
    $200k-400k 55 $14,905,000 $271,000 $2,564 4.06%
    $400k-600k 10 $4,970,000 $497,000 $3,195 3.27%
    $600k-1MM 1 $705,000 $705,000 $0 1.99%

    2022 saw Everence Federal Credit Union place emphasis on $100,000 or less loans with 167 originations, totaling $9,345,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 85 $9,755,000 $114,765 $1,638 4.20%
    $75k-100k 73 $9,755,000 $133,630 $1,878 3.87%
    $100k-150k 69 $9,475,000 $137,319 $1,373 3.32%
    $50k or less 51 $4,685,000 $91,863 $1,683 4.37%
    $150k-250k 31 $5,565,000 $179,516 $1,642 3.12%
    $250k+ 24 $4,860,000 $202,500 $996 3.73%

    Everence Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 85 originations. The second most popular income band? $75k-100k, with 73 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 71 $8,905,000 $125,423 $1,375 3.52%
    <20% 59 $5,735,000 $97,203 $1,450 3.46%
    30-36% 46 $6,190,000 $134,565 $1,382 3.63%
    42% 19 $2,915,000 $153,421 $787 2.81%
    37% 12 $1,960,000 $163,333 $1,745 4.67%
    38% 11 $1,425,000 $129,545 $287 2.85%
    40% 10 $1,710,000 $171,000 $2,906 3.19%
    36% 8 $850,000 $106,250 $1,013 2.49%
    39% 7 $955,000 $136,429 $1,578 3.98%
    43% 5 $715,000 $143,000 $0 2.59%
    >60% 3 $435,000 $145,000 $2,298 4.66%
    41% 3 $315,000 $105,000 $3,742 5.79%
    49% 2 $360,000 $180,000 $1,045 3.00%
    45% 1 $165,000 $165,000 $0 7.25%
    47% 1 $85,000 $85,000 $0 1.99%
    48% 1 $275,000 $275,000 $2,667 3.63%
    50-60% 1 $285,000 $285,000 $0 3.99%
    44% 1 $215,000 $215,000 $0 1.99%

    Everence Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 71 originations. The next most common DTI ratio? <20%, with 59 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 291 $38,575,000 $132,560 $1,521 3.76%
    Not provided 48 $6,470,000 $134,792 $1,816 4.30%
    Black 11 $1,315,000 $119,545 $1,112 3.88%
    Asian 4 $730,000 $182,500 $1,179 4.12%
    Other Asian 1 $175,000 $175,000 $295 3.49%

    Approval Rates

    Total approvals of all applications
    76.39%

    Everence Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    95.77%

    Everence Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 355 $47,265,000 $133,141

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    355 $47,265,000 $133,141

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 74 $8,330,000 $112,568 $610 2.97%
    40-60% 50 $8,300,000 $166,000 $1,380 3.70%
    60-80% 73 $14,625,000 $200,342 $2,274 4.25%
    80-100% 63 $10,325,000 $163,889 $2,335 5.70%
    Under 20% 95 $5,685,000 $59,842 $323 3.03%