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

Jump to:

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.

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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


Originations

192

Origination Dollar Volume (All Markets)

$15,300,000

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) 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%
Penn East Federal Credit Union's top markets include Scranton and Punta Gorda 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 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 87 $6,245,000 $71,782 $0 0.00%
    Other 39 $2,265,000 $58,077 $0 0.00%
    Home Improvement 33 $965,000 $29,242 $0 0.00%
    Cash Out Refi 24 $4,540,000 $189,167 $0 0.00%
    Home Purchase 7 $1,155,000 $165,000 $0 0.00%
    NA 2 $130,000 $65,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 144 $5,970,000 $41,458 $0 0.00%
    $100k-200k 34 $4,510,000 $132,647 $0 0.00%
    $200k-400k 12 $3,160,000 $263,333 $0 0.00%
    $1MM+ 1 $1,205,000 $1,205,000 $0 0.00%
    $400k-600k 1 $455,000 $455,000 $0 0.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 45 $3,165,000 $70,333 $0 0.00%
    $50k-75k 38 $2,220,000 $58,421 $0 0.00%
    $75k-100k 37 $2,245,000 $60,676 $0 0.00%
    $50k or less 27 $2,555,000 $94,630 $0 0.00%
    $150k-250k 25 $2,335,000 $93,400 $0 0.00%
    $250k+ 2 $150,000 $75,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 175 $12,555,000 $71,743 $0 0.00%
    Not applicable 15 $2,455,000 $163,667 $0 0.00%
    Not provided 2 $290,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.96%

    Penn East Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.85%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $905,000 $301,667
    Single Family (1-4 Units):Manufactured 2 $160,000 $80,000
    Single Family (1-4 Units):Site-Built 187 $14,235,000 $76,123