Trumark Financial Credit Union Mortgage Rates, Fees & Info

Fort Washington, PA

LEI: 54930062IKKOJW3K8L94

Tax ID: 23-1357086

5 stars - Updated: 5/19/24 - out of 5 stars, based on 50 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Trumark Financial Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. Trumark Financial Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Ocean City, New York, Atlantic City, and Salisbury among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)

Trumark Financial 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. Trumark Financial Credit Union is typically an average 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 5/19/24
30 Year Conventional Purchase 5.60% 5/19/24
30 Year Conventional Refi 5.85% 5/19/24
30 Year Cash-out Refi 5.89% 5/19/24
30 Year FHA Purchase 7.64% 5/19/24
15 Year Conventional Purchase 6.03% 5/19/24
15 Year Conventional Refi 6.03% 5/19/24
15 Year Cash-out Refi 6.03% 5/19/24
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.

Trumark Financial Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Trumark Financial 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

2,548

Origination Dollar Volume (All Markets)

$408,430,000

Awards

TRUMARK FINANCIAL CREDIT UNION 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Trumark Financial Credit Union's average 30 year fixed mortgage rate was 6.59%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.11%.

Relative Fees (Closing Costs)

Trumark Financial Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $6,611.

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 $9,089.

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
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2,258 $332,180,000 $147,112 $2,663 7.62%
OCEAN CITY, NJ (FHA|USDA|VA) 63 $22,405,000 $355,635 $7,248 7.17%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 35 $13,215,000 $377,571 $7,724 6.75%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 34 $9,990,000 $293,824 $6,321 6.99%
SALISBURY, MD-DE (FHA|USDA|VA) 32 $9,870,000 $308,438 $5,282 7.10%
EAST STROUDSBURG, PA (FHA|USDA|VA) 13 $3,955,000 $304,231 $6,790 7.14%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 27 $3,455,000 $127,963 $5,980 7.62%
Outside of Metro Areas 17 $2,665,000 $156,765 $6,700 7.43%
LANCASTER, PA (FHA|USDA|VA) 11 $2,425,000 $220,455 $3,084 7.14%
READING, PA (FHA|USDA|VA) 13 $1,435,000 $110,385 $1,161 7.60%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 3 $885,000 $295,000 $7,841 7.66%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $635,000 $211,667 $0 7.24%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 3 $495,000 $165,000 $0 7.07%
STATE COLLEGE, PA (FHA|USDA|VA) 2 $490,000 $245,000 $5,117 6.94%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $405,000 $405,000 $3,848 6.13%
PITTSBURGH, PA (FHA|USDA|VA) 2 $390,000 $195,000 $4,552 6.56%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $385,000 $128,333 $100 7.74%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $350,000 $175,000 $3,258 7.12%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $335,000 $335,000 $2,815 7.75%
Montrose, CO (FHA|USDA|VA) 1 $295,000 $295,000 $2,600 5.88%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 3 $265,000 $88,333 $100 7.74%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $235,000 $235,000 $3,140 6.50%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $220,000 $110,000 $1,292 6.00%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 3 $215,000 $71,667 $0 9.62%
DOVER, DE (FHA|USDA|VA) 2 $210,000 $105,000 $3,694 8.06%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $165,000 $165,000 $4,002 7.13%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $145,000 $145,000 $6,143 7.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $135,000 $135,000 $3,437 7.00%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $120,000 $60,000 $100 7.49%
Lewistown, PA (FHA|USDA|VA) 1 $115,000 $115,000 $0 9.74%
Bradford, PA (FHA|USDA|VA) 1 $105,000 $105,000 $0 11.74%
JOHNSTOWN, PA (FHA|USDA|VA) 1 $75,000 $75,000 $3,044 7.50%
Pottsville, PA (FHA|USDA|VA) 2 $60,000 $30,000 $100 9.00%
YORK-HANOVER, PA (FHA|USDA|VA) 2 $60,000 $30,000 $100 6.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.24%
Trumark Financial Credit Union's top markets include Philadelphia, Ocean City, New York, Atlantic City, and Salisbury among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against TRUMARK FINANCIAL 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
    HELOC 1,834 $228,040,000 $124,340 n/a 7.89%
    Conventional 714 $180,390,000 $252,647 $3,413 6.77%

    For 2023, Trumark Financial Credit Union's most frequently originated type of loan was HELOC, with 1,834 originations. Their 2nd most popular type was Conventional, with 714 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 1,141 $132,535,000 $116,157 $100 7.73%
    Other 627 $58,025,000 $92,544 $100 7.80%
    Home Purchase 401 $147,745,000 $368,441 $6,772 6.88%
    Refi 324 $51,140,000 $157,840 $740 7.61%
    Cash Out Refi 55 $18,985,000 $345,182 $4,689 6.52%

    For 2023, Trumark Financial Credit Union's most frequently cited loan purpose was Home Improvement, with 1,141 originations. The 2nd most popular reason was Other, with 627 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 1,955 $239,005,000 $122,253 $272 7.84%
    30 Year 337 $140,325,000 $416,395 $6,611 6.59%
    5 Year 115 $18,085,000 $157,261 $100 6.15%
    10 Year 71 $4,505,000 $63,451 $100 7.05%
    20 Year 36 $4,500,000 $125,000 $876 8.45%
    Other 34 $2,010,000 $59,118 $100 6.76%

    For 2023, Trumark Financial Credit Union's most frequently cited loan duration was 15 Year, with 1,955 originations. The 2nd most popular length was 30 Year, with 337 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 455 $62,275,000 $136,868
    $1k-2k 87 $38,655,000 $444,310
    $5k+ 55 $29,855,000 $542,818
    $2k-3k 33 $13,805,000 $418,333
    $3k-4k 23 $10,145,000 $441,087
    $4k-5k 18 $7,840,000 $435,556

    Trumark Financial Credit Union's average total fees were $6,611, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 455 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 1,166 $174,030,000 $149,254
    6-7% 661 $149,105,000 $225,575
    Over 8% 574 $52,040,000 $90,662
    5-6% 143 $33,075,000 $231,294
    4-5% 4 $180,000 $45,000

    During 2023, Trumark Financial Credit Union's average interest rate for loans was 6.59%, while their most frequently originated rate bucket for loans was 7-8%, with 1,166 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,163 $63,755,000 $54,819 $204 7.81%
    $100k-200k 703 $94,875,000 $134,957 $1,374 7.69%
    $200k-400k 452 $120,910,000 $267,500 $5,399 7.20%
    $400k-600k 163 $78,595,000 $482,178 $7,306 6.84%
    $600k-1MM 63 $44,945,000 $713,413 $9,339 6.60%
    $1MM+ 4 $5,350,000 $1,337,500 $13,572 6.59%

    2023 saw Trumark Financial Credit Union place emphasis on $100,000 or less loans with 1,163 originations, totaling $63,755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 696 $88,260,000 $126,810 $2,282 7.60%
    $150k-250k 691 $125,155,000 $181,122 $3,872 7.50%
    $250k+ 379 $114,195,000 $301,306 $6,478 7.32%
    $75k-100k 353 $33,865,000 $95,935 $1,656 7.79%
    $50k-75k 268 $22,210,000 $82,873 $724 7.77%
    $50k or less 110 $7,670,000 $69,727 $773 7.85%

    Trumark Financial Credit Union lent most frequently to those with incomes in the $100k-150k range, with 696 originations. The second most popular income band? $150k-250k, with 691 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 457 $76,025,000 $166,357 $3,503 7.33%
    30-36% 413 $73,295,000 $177,470 $3,977 7.45%
    50-60% 377 $48,175,000 $127,785 $1,589 7.75%
    <20% 185 $25,555,000 $138,135 $1,973 7.35%
    44% 102 $15,170,000 $148,725 $5,186 8.33%
    42% 100 $16,140,000 $161,400 $2,792 7.63%
    43% 96 $14,680,000 $152,917 $3,535 7.78%
    41% 89 $12,235,000 $137,472 $1,815 7.57%
    38% 86 $13,930,000 $161,977 $3,304 7.52%
    37% 86 $12,640,000 $146,977 $2,242 7.55%
    45% 78 $14,350,000 $183,974 $6,048 7.80%
    40% 74 $13,350,000 $180,405 $3,587 7.73%
    39% 72 $12,280,000 $170,556 $3,175 7.49%
    36% 71 $13,945,000 $196,408 $3,141 7.70%
    49% 62 $8,360,000 $134,839 $0 7.85%
    46% 59 $8,575,000 $145,339 $6,744 7.53%
    48% 57 $8,515,000 $149,386 $4,998 7.69%
    47% 47 $6,405,000 $136,277 $6,908 7.77%
    >60% 3 $185,000 $61,667 $0 9.32%

    Trumark Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 457 originations. The next most common DTI ratio? 30-36%, with 413 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,711 $285,935,000 $167,116 $3,522 7.46%
    Not provided 395 $55,335,000 $140,089 $2,800 7.72%
    Black 289 $26,785,000 $92,682 $1,284 8.20%
    Asian 86 $21,690,000 $252,209 $5,888 7.37%
    Not applicable 34 $14,620,000 $430,000 $0 6.67%
    Asian Indian 5 $1,315,000 $263,000 $4,711 7.27%
    American Indian 12 $1,170,000 $97,500 $3,334 7.73%
    Native Hawaiian or Islander 9 $725,000 $80,556 $0 8.18%
    Other Asian 4 $510,000 $127,500 $0 7.43%
    Chinese 1 $305,000 $305,000 $5,315 7.75%
    Korean 1 $35,000 $35,000 $0 7.74%
    Filipino 1 $5,000 $5,000 $0 8.49%

    Approval Rates

    Total approvals of all applications
    74.06%

    Trumark Financial Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    67.11%

    Trumark Financial Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,548 $408,430,000 $160,294

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,548 $408,430,000 $160,294

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 806 $109,260,000 $135,558 $681 7.83%
    40-60% 276 $62,300,000 $225,725 $3,499 7.55%
    60-80% 258 $84,110,000 $326,008 $5,913 7.04%
    80-100% 221 $90,865,000 $411,154 $7,250 6.84%
    Under 20% 987 $61,895,000 $62,710 $123 7.67%