Penn East Federal Credit Union Mortgage Rates, Fees & Info
Scranton, PALEI: 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 Cash Out Refi loans. Penn East Federal Credit Union has a high proportion of conventional loans. Their top two markets are Scranton and Punta Gorda .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
192Origination Dollar Volume (All Markets)
$15,300,000Top 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) | 182 | $14,360,000 | $78,901 | $0 | 0.00% |
| Outside of Metro Areas | 9 | $575,000 | $63,889 | $0 | 0.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 192 | $15,300,000 | $79,688 | $0 | 0.00% |
For 2020, Penn East Federal Credit Union's most frequently originated type of loan was Conventional, with 192 originations.
Loan Reason
For 2020, Penn East Federal Credit Union's most frequently cited loan purpose was Refi, with 87 originations. The 2nd most popular reason was Other, with 39 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 192 | $15,300,000 | $79,688 | $0 | 0.00% |
For 2020, Penn East Federal Credit Union's most frequently cited loan duration was Other, with 192 originations.
Loan Sizing
2020 saw Penn East Federal Credit Union place emphasis on $100,000 or less loans with 144 originations, totaling $5,970,000 in origination value.
Applicant Income
Penn East Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 45 originations. The second most popular income band? $50k-75k, with 38 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 192 | $15,300,000 | $79,688 | $0 | 0.00% |
Penn East Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 192 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.96%
Penn East Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination83.85%
Penn East Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 192 | $15,300,000 | $79,688 |