Penn East Federal Credit Union Mortgage Rates, Fees & Info

Scranton, PA

LEI: 549300754PTUH541X764

Tax ID: 24-0796007

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Mortgage Data

Review & Overview

Penn East Federal Credit Union is a smaller credit union specializing in Refi and Other loans. Penn East Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Scranton, Punta Gorda, Palm Bay, East Stroudsburg, and York among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Penn East Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

261

Origination Dollar Volume (All Markets)

$13,425,000

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) 248 $12,260,000 $49,435 $0 0.00%
Outside of Metro Areas 7 $435,000 $62,143 $0 0.00%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
LANCASTER, PA (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
Penn East Federal Credit Union's top markets include Scranton, Punta Gorda, Palm Bay, East Stroudsburg, and York among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 261 $13,425,000 $51,437 $0 0.00%

    For 2018, Penn East Federal Credit Union's most frequently originated type of loan was Conventional, with 261 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 100 $5,740,000 $57,400 $0 0.00%
    Other 79 $2,955,000 $37,405 $0 0.00%
    Home Improvement 63 $2,295,000 $36,429 $0 0.00%
    Home Purchase 12 $1,590,000 $132,500 $0 0.00%
    Cash Out Refi 6 $800,000 $133,333 $0 0.00%
    NA 1 $45,000 $45,000 $0 0.00%

    For 2018, Penn East Federal Credit Union's most frequently cited loan purpose was Refi, with 100 originations. The 2nd most popular reason was Other, with 79 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 261 $13,425,000 $51,437 $0 0.00%

    For 2018, Penn East Federal Credit Union's most frequently cited loan duration was Other, with 261 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 234 $9,550,000 $40,812 $0 0.00%
    $100k-200k 22 $2,620,000 $119,091 $0 0.00%
    $200k-400k 5 $1,255,000 $251,000 $0 0.00%

    2018 saw Penn East Federal Credit Union place emphasis on $100,000 or less loans with 234 originations, totaling $9,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 66 $3,680,000 $55,758 $0 0.00%
    $50k-75k 55 $2,575,000 $46,818 $0 0.00%
    $75k-100k 49 $2,075,000 $42,347 $0 0.00%
    $50k or less 41 $1,595,000 $38,902 $0 0.00%
    $150k-250k 37 $2,335,000 $63,108 $0 0.00%
    $250k+ 6 $450,000 $75,000 $0 0.00%

    Penn East Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 66 originations. The second most popular income band? $50k-75k, with 55 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 261 $13,425,000 $51,437 $0 0.00%

    Penn East Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 261 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 251 $12,615,000 $50,259 $0 0.00%
    Not applicable 6 $610,000 $101,667 $0 0.00%
    Not provided 3 $165,000 $55,000 $0 0.00%
    Korean 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.63%

    Penn East Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.78%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 261 $13,425,000 $51,437

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $180,000 $90,000
    Single Family (1-4 Units):Site-Built 259 $13,245,000 $51,139