West Penn Financial Service Center Mortgage Rates, Fees & InfoALLISON PARK, PA
Tax ID: 25-1438513
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewWest Penn Financial Service Center is a smaller mortgage company specializing in Home Purchase loans. West Penn Financial Service Center has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Pittsburgh, Youngstown, Cleveland, Akron, and New Castle among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)
West Penn Financial Service Center has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. West Penn Financial Service Center is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||5.24%||9/18/23|
|30 Year Conventional Refi||4.12%||9/18/23|
|30 Year Cash-out Refi||4.09%||9/18/23|
|30 Year FHA Purchase||6.12%||9/18/23|
|30 Year FHA Refi||3.87%||9/18/23|
|30 Year VA Purchase||5.01%||9/18/23|
|30 Year USDA Purchase||5.26%||9/18/23|
|15 Year Conventional Purchase||4.25%||9/18/23|
|15 Year Conventional Refi||3.17%||9/18/23|
|15 Year Cash-out Refi||3.17%||9/18/23|
|These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.|
West Penn Financial Service Center Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from West Penn Financial Service Center. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$214,460,000
WEST PENN FINANCIAL SERVICE CENTER - 2022
WEST PENN FINANCIAL SERVICE CENTER is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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West Penn Financial Service Center's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.33%.
Relative Fees (Closing Costs)
West Penn Financial Service Center's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,012.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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)||745||$159,605,000||$214,235||$6,288||4.97%|
|YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA)||179||$27,495,000||$153,603||$5,049||5.17%|
|CLEVELAND-ELYRIA, OH (FHA|USDA|VA)||31||$6,445,000||$207,903||$5,200||5.53%|
|AKRON, OH (FHA|USDA|VA)||34||$6,080,000||$178,824||$5,035||5.83%|
|New Castle, PA (FHA|USDA|VA)||28||$4,590,000||$163,929||$6,403||5.01%|
|Salem, OH (FHA|USDA|VA)||24||$3,990,000||$166,250||$5,832||4.92%|
|DAYTON-KETTERING, OH (FHA|USDA|VA)||5||$1,555,000||$311,000||$7,502||5.38%|
|CANTON-MASSILLON, OH (FHA|USDA|VA)||6||$1,130,000||$188,333||$5,932||5.23%|
|Indiana, PA (FHA|USDA|VA)||5||$765,000||$153,000||$5,506||4.90%|
|Meadville, PA (FHA|USDA|VA)||4||$530,000||$132,500||$4,699||5.25%|
|Somerset, PA (FHA|USDA|VA)||3||$395,000||$131,667||$4,131||6.17%|
|Wooster, OH (FHA|USDA|VA)||2||$300,000||$150,000||$3,083||5.69%|
|Outside of Metro Areas||3||$295,000||$98,333||$4,265||4.46%|
|Oil City, PA (FHA|USDA|VA)||2||$260,000||$130,000||$5,501||5.69%|
|Bucyrus-Galion, OH (FHA|USDA|VA)||1||$235,000||$235,000||$5,246||5.13%|
|Ashland, OH (FHA|USDA|VA)||1||$205,000||$205,000||$4,579||6.38%|
|JOHNSTOWN, PA (FHA|USDA|VA)||1||$135,000||$135,000||$5,485||6.38%|
|Point Pleasant, WV-OH (FHA|USDA|VA)||1||$135,000||$135,000||$3,938||5.75%|
|Ashtabula, OH (FHA|USDA|VA)||1||$135,000||$135,000||$3,211||5.88%|
|Warren, PA (FHA|USDA|VA)||1||$95,000||$95,000||$6,728||6.13%|
|ALTOONA, PA (FHA|USDA|VA)||1||$85,000||$85,000||$3,813||4.88%|
We use machine learning to identify the top lenders compared against WEST PENN FINANCIAL SERVICE CENTER based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, West Penn Financial Service Center's most frequently originated type of loan was Conventional, with 811 originations. Their 2nd most popular type was FHA, with 191 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||15||$2,445,000||$163,000||$4,697||4.35%|
For 2022, West Penn Financial Service Center's most frequently cited loan purpose was Home Purchase, with 1,045 originations. The 2nd most popular reason was Refi, with 18 originations.
|Loan Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
For 2022, West Penn Financial Service Center's most frequently cited loan duration was 30 Year, with 1,042 originations. The 2nd most popular length was 15 Year, with 28 originations.
Origination Fees/Closing Costs
West Penn Financial Service Center's average total fees were $6,012, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 674 originations.
During 2022, West Penn Financial Service Center's average interest rate for loans was 5.09%, while their most frequently originated rate bucket for loans was 5-6%, with 417 originations.
2022 saw West Penn Financial Service Center place emphasis on $100k-200k loans with 507 originations, totaling $77,395,000 in origination value.
West Penn Financial Service Center lent most frequently to those with incomes in the $50k-75k range, with 298 originations. The second most popular income band? $75k-100k, with 225 originations.
Applicant Debt to Income Ratio
West Penn Financial Service Center lent most frequently to those with DTI ratios of 20-30%, with 268 originations. The next most common DTI ratio? 30-36%, with 205 originations.
Approval RatesTotal approvals of all applications
West Penn Financial Service Center has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
West Penn Financial Service Center has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|