Beaver Valley Federal Credit Union Mortgage Rates, Fees & Info
BEAVER FALLS, PALEI: 5493007GY2VTKC08IS96
Tax ID: 25-0970630
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Mortgage Data
Review & Overview
Beaver Valley Federal Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. Beaver Valley Federal Credit Union has a high proportion of conventional loans. Their top two markets are Pittsburgh and New Castle .Beaver Valley Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
47Origination Dollar Volume (All Markets)
$2,195,000Top 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 |
|---|---|---|---|---|---|
| PITTSBURGH, PA (FHA|USDA|VA) | 37 | $1,745,000 | $47,162 | $0 | 17.85% |
| New Castle, PA (FHA|USDA|VA) | 10 | $450,000 | $45,000 | $0 | 4.74% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 47 | $2,195,000 | $46,702 | $0 | 15.06% |
For 2019, Beaver Valley Federal Credit Union's most frequently originated type of loan was Conventional, with 47 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 32 | $1,100,000 | $34,375 | $0 | 19.85% |
| Refi | 13 | $995,000 | $76,538 | $0 | 4.84% |
| Home Purchase | 2 | $100,000 | $50,000 | $0 | 4.87% |
For 2019, Beaver Valley Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 32 originations. The 2nd most popular reason was Refi, with 13 originations.
Loan Duration/Length
For 2019, Beaver Valley Federal Credit Union's most frequently cited loan duration was 5 Year, with 18 originations. The 2nd most popular length was 10 Year, with 16 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 26 | $1,540,000 | $59,231 |
| 3-4% | 17 | $445,000 | $26,176 |
| 6-7% | 2 | $120,000 | $60,000 |
| 5-6% | 1 | $25,000 | $25,000 |
| Over 8% | 1 | $65,000 | $65,000 |
During 2019, Beaver Valley Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 26 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 45 | $1,785,000 | $39,667 | $0 | 15.51% |
| $200k-400k | 2 | $410,000 | $205,000 | $0 | 4.99% |
2019 saw Beaver Valley Federal Credit Union place emphasis on $100,000 or less loans with 45 originations, totaling $1,785,000 in origination value.
Applicant Income
Beaver Valley Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $75k-100k, with 14 originations.
Applicant Debt to Income Ratio
Beaver Valley Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? <20%, with 11 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 45 | $2,085,000 | $46,333 | $0 | 15.51% |
| Black | 2 | $110,000 | $55,000 | $0 | 4.87% |
Approval Rates
Total approvals of all applications85.71%
Beaver Valley Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination97.87%
Beaver Valley Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 47 | $2,195,000 | $46,702 |