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 loans. Penn East Federal Credit Union has a high proportion of conventional loans. Their top two markets are Scranton and Sayre .

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.

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Originations

212

Origination Dollar Volume (All Markets)

$10,600,000

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) 206 $10,340,000 $50,194 $0 0.00%
Sayre, PA (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
Outside of Metro Areas 5 $95,000 $19,000 $0 0.00%
Penn East Federal Credit Union's top markets include Scranton and Sayre among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 212 $10,600,000 $50,000 $0 0.00%

    For 2019, Penn East Federal Credit Union's most frequently originated type of loan was Conventional, with 212 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 83 $5,235,000 $63,072 $0 0.00%
    Home Improvement 66 $1,630,000 $24,697 $0 0.00%
    Other 46 $1,270,000 $27,609 $0 0.00%
    NA 8 $820,000 $102,500 $0 0.00%
    Home Purchase 7 $945,000 $135,000 $0 0.00%
    Cash Out Refi 2 $700,000 $350,000 $0 0.00%

    For 2019, Penn East Federal Credit Union's most frequently cited loan purpose was Refi, with 83 originations. The 2nd most popular reason was Home Improvement, with 66 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 212 $10,600,000 $50,000 $0 0.00%

    For 2019, Penn East Federal Credit Union's most frequently cited loan duration was Other, with 212 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 192 $6,780,000 $35,313 $0 0.00%
    $100k-200k 14 $1,850,000 $132,143 $0 0.00%
    $200k-400k 5 $1,325,000 $265,000 $0 0.00%
    $600k-1MM 1 $645,000 $645,000 $0 0.00%

    2019 saw Penn East Federal Credit Union place emphasis on $100,000 or less loans with 192 originations, totaling $6,780,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 51 $2,655,000 $52,059 $0 0.00%
    $75k-100k 49 $2,105,000 $42,959 $0 0.00%
    $50k or less 40 $1,160,000 $29,000 $0 0.00%
    $50k-75k 37 $1,415,000 $38,243 $0 0.00%
    $150k-250k 16 $1,120,000 $70,000 $0 0.00%
    $250k+ 8 $770,000 $96,250 $0 0.00%

    Penn East Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 51 originations. The second most popular income band? $75k-100k, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 212 $10,600,000 $50,000 $0 0.00%

    Penn East Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 212 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 196 $8,710,000 $44,439 $0 0.00%
    Not applicable 8 $1,190,000 $148,750 $0 0.00%
    Not provided 5 $505,000 $101,000 $0 0.00%
    Black 2 $170,000 $85,000 $0 0.00%
    American Indian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.90%

    Penn East Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.11%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 212 $10,600,000 $50,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 212 $10,600,000 $50,000