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 Refi loans. Penn East Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Scranton, East Stroudsburg, New York, and Philadelphia among others. We have data for 5 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

    239

    Origination Dollar Volume (All Markets)

    $23,745,000

    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) 225 $22,135,000 $98,378 $0 0.00%
    Outside of Metro Areas 8 $720,000 $90,000 $0 0.00%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 3 $335,000 $111,667 $0 0.00%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $320,000 $160,000 $0 0.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    Penn East Federal Credit Union's top markets include Scranton, East Stroudsburg, New York, and Philadelphia among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 239 $23,745,000 $99,351 $0 0.00%

    For 2021, Penn East Federal Credit Union's most frequently originated type of loan was Conventional, with 239 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 107 $9,875,000 $92,290 $0 0.00%
    Home Improvement 54 $4,160,000 $77,037 $0 0.00%
    Other 36 $2,290,000 $63,611 $0 0.00%
    Cash Out Refi 26 $4,360,000 $167,692 $0 0.00%
    Home Purchase 16 $3,060,000 $191,250 $0 0.00%

    For 2021, Penn East Federal Credit Union's most frequently cited loan purpose was Refi, with 107 originations. The 2nd most popular reason was Home Improvement, with 54 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 239 $23,745,000 $99,351 $0 0.00%

    For 2021, Penn East Federal Credit Union's most frequently cited loan duration was Other, with 239 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 158 $7,650,000 $48,418 $0 0.00%
    $100k-200k 61 $8,245,000 $135,164 $0 0.00%
    $200k-400k 16 $4,040,000 $252,500 $0 0.00%
    $400k-600k 2 $1,100,000 $550,000 $0 0.00%
    $1MM+ 1 $2,005,000 $2,005,000 $0 0.00%
    $600k-1MM 1 $705,000 $705,000 $0 0.00%

    2021 saw Penn East Federal Credit Union place emphasis on $100,000 or less loans with 158 originations, totaling $7,650,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 61 $6,075,000 $99,590 $0 0.00%
    $75k-100k 60 $5,070,000 $84,500 $0 0.00%
    $50k-75k 44 $3,350,000 $76,136 $0 0.00%
    $50k or less 32 $1,900,000 $59,375 $0 0.00%
    $150k-250k 24 $3,410,000 $142,083 $0 0.00%
    $250k+ 7 $2,485,000 $355,000 $0 0.00%

    Penn East Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 61 originations. The second most popular income band? $75k-100k, with 60 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 239 $23,745,000 $99,351 $0 0.00%

    Penn East Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 239 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 221 $21,425,000 $96,946 $0 0.00%
    Not applicable 9 $1,185,000 $131,667 $0 0.00%
    Not provided 7 $985,000 $140,714 $0 0.00%
    Black 2 $150,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.40%

    Penn East Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.68%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 239 $23,745,000 $99,351

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    239 $23,745,000 $99,351