Penn East Federal Credit Union Mortgage Rates, Fees & Info

Scranton, PA

LEI: 549300754PTUH541X764

Tax ID: 24-0796007

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Penn East Federal Credit Union is a smaller credit union specializing in Home Improvement, Other, and Home Purchase loans. Penn East Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Scranton, Lebanon, and New York among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Penn East 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.

    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.

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    Originations

    88

    Origination Dollar Volume (All Markets)

    $6,500,000

    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
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 79 $5,225,000 $66,139 $0 0.00%
    Outside of Metro Areas 7 $735,000 $105,000 $0 0.00%
    LEBANON, PA (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    Penn East Federal Credit Union's top markets include Scranton, Lebanon, and New York among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 88 $6,500,000 $73,864 $0 0.00%

    For 2023, Penn East Federal Credit Union's most frequently originated type of loan was Conventional, with 88 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 40 $1,460,000 $36,500 $0 0.00%
    Other 27 $2,295,000 $85,000 $0 0.00%
    Refi 13 $775,000 $59,615 $0 0.00%
    Home Purchase 7 $1,865,000 $266,429 $0 0.00%
    Cash Out Refi 1 $105,000 $105,000 $0 0.00%

    For 2023, Penn East Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 40 originations. The 2nd most popular reason was Other, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 88 $6,500,000 $73,864 $0 0.00%

    For 2023, Penn East Federal Credit Union's most frequently cited loan duration was Other, with 88 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 70 $2,610,000 $37,286 $0 0.00%
    $100k-200k 10 $1,470,000 $147,000 $0 0.00%
    $200k-400k 7 $2,015,000 $287,857 $0 0.00%
    $400k-600k 1 $405,000 $405,000 $0 0.00%

    2023 saw Penn East Federal Credit Union place emphasis on $100,000 or less loans with 70 originations, totaling $2,610,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 28 $1,870,000 $66,786 $0 0.00%
    $75k-100k 16 $1,130,000 $70,625 $0 0.00%
    $150k-250k 14 $1,230,000 $87,857 $0 0.00%
    $50k-75k 14 $620,000 $44,286 $0 0.00%
    $50k or less 8 $310,000 $38,750 $0 0.00%
    $250k+ 2 $130,000 $65,000 $0 0.00%

    Penn East Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $75k-100k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 88 $6,500,000 $73,864 $0 0.00%

    Penn East Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 88 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 80 $5,180,000 $64,750 $0 0.00%
    Not applicable 3 $805,000 $268,333 $0 0.00%
    Asian 2 $350,000 $175,000 $0 0.00%
    Native Hawaiian or Islander 1 $95,000 $95,000 $0 0.00%
    Not provided 2 $70,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    77.78%

    Penn East Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    67.05%

    Penn East Federal 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
    Exempt 88 $6,500,000 $73,864

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    88 $6,500,000 $73,864