Beaver Valley Federal Credit Union Mortgage Rates, Fees & Info

BEAVER FALLS, PA

LEI: 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

47

Origination Dollar Volume (All Markets)

$2,195,000

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
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%
Beaver Valley Federal Credit Union's top markets include Pittsburgh and New Castle among others.

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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 18 $470,000 $26,111 $0 4.09%
    10 Year 16 $670,000 $41,875 $0 4.65%
    15 Year 11 $925,000 $84,091 $0 49.90%
    20 Year 1 $85,000 $85,000 $0 6.25%
    Other 1 $45,000 $45,000 $0 4.74%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 14 $540,000 $38,571 $0 4.54%
    $75k-100k 14 $580,000 $41,429 $0 39.87%
    $50k or less 11 $395,000 $35,909 $0 4.51%
    $100k-150k 4 $150,000 $37,500 $0 4.18%
    $150k-250k 2 $120,000 $60,000 $0 4.87%
    $250k+ 2 $410,000 $205,000 $0 4.99%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 15 $1,005,000 $67,000 $0 4.37%
    <20% 11 $345,000 $31,364 $0 4.40%
    30-36% 11 $475,000 $43,182 $0 49.77%
    39% 3 $135,000 $45,000 $0 4.57%
    42% 3 $115,000 $38,333 $0 4.49%
    43% 1 $35,000 $35,000 $0 3.99%
    36% 1 $35,000 $35,000 $0 4.99%
    37% 1 $15,000 $15,000 $0 3.99%
    40% 1 $35,000 $35,000 $0 6.25%

    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 applications
    85.71%

    Beaver Valley Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.87%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 47 $2,195,000 $46,702

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $580,000 $41,429 $0 4.38%
    40-60% 9 $745,000 $82,778 $0 5.22%
    60-80% 8 $460,000 $57,500 $0 4.58%
    80-100% 2 $120,000 $60,000 $0 252.00%
    Under 20% 14 $290,000 $20,714 $0 4.20%