West Penn Financial Service Center Mortgage Rates, Fees & Info
ALLISON PARK, PALEI: 54930080F7BZFCWNV450
Tax ID: 25-1438513
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Mortgage Data
Review & Overview
West 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 16 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 a low 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.96% | 5/25/25 |
| 30 Year Conventional Refi | 6.72% | 5/25/25 |
| 30 Year Cash-out Refi | 7.11% | 5/25/25 |
| 30 Year FHA Purchase | 7.40% | 5/25/25 |
| 30 Year VA Purchase | 6.65% | 5/25/25 |
| 30 Year USDA Purchase | 7.11% | 5/25/25 |
| 15 Year Conventional Purchase | 6.19% | 5/25/25 |
| 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 Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
803Origination Dollar Volume (All Markets)
$168,715,000Awards
WEST PENN FINANCIAL SERVICE CENTER - 2024
WEST PENN FINANCIAL SERVICE CENTER is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
West Penn Financial Service Center's average 30 year fixed mortgage rate was
6.57%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.02%.
Relative Fees (Closing Costs)
West Penn Financial Service Center's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,079.
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 $8,356.
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) | 551 | $122,375,000 | $222,096 | $6,292 | 6.51% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 114 | $20,100,000 | $176,316 | $5,731 | 6.61% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 35 | $8,165,000 | $233,286 | $6,058 | 6.77% |
| AKRON, OH (FHA|USDA|VA) | 42 | $7,760,000 | $184,762 | $5,333 | 6.63% |
| New Castle, PA (FHA|USDA|VA) | 18 | $3,160,000 | $175,556 | $5,162 | 6.70% |
| Salem, OH (FHA|USDA|VA) | 16 | $2,420,000 | $151,250 | $5,622 | 6.78% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 12 | $2,150,000 | $179,167 | $4,725 | 6.91% |
| Meadville, PA (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $7,981 | 6.17% |
| Indiana, PA (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $5,012 | 6.33% |
| Wooster, OH (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $5,408 | 7.38% |
| Somerset, PA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $5,270 | 6.69% |
| Oil City, PA (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $6,087 | 6.56% |
| Ashland, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,250 | 7.13% |
| New Philadelphia-Dover, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,336 | 7.13% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,085 | 6.63% |
| Outside of Metro Areas | 1 | $75,000 | $75,000 | $3,972 | 6.88% |
Similar Lenders
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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Product Mix
For 2024, West Penn Financial Service Center's most frequently originated type of loan was Conventional, with 642 originations. Their 2nd most popular type was FHA, with 111 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 794 | $166,930,000 | $210,239 | $6,065 | 6.56% |
| Cash Out Refi | 9 | $1,785,000 | $198,333 | $6,974 | 6.69% |
For 2024, West Penn Financial Service Center's most frequently cited loan purpose was Home Purchase, with 794 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.
Loan Duration/Length
For 2024, West Penn Financial Service Center's most frequently cited loan duration was 30 Year, with 786 originations. The 2nd most popular length was 15 Year, with 12 originations.
Origination Fees/Closing Costs
West Penn Financial Service Center's average total fees were $6,079, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 527 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 567 | $117,505,000 | $207,240 |
| 5-6% | 127 | $25,385,000 | $199,882 |
| 7-8% | 108 | $25,710,000 | $238,056 |
| Over 8% | 1 | $115,000 | $115,000 |
During 2024, West Penn Financial Service Center's average interest rate for loans was 6.57%, while their most frequently originated rate bucket for loans was 6-7%, with 567 originations.
Loan Sizing
2024 saw West Penn Financial Service Center place emphasis on $100k-200k loans with 395 originations, totaling $60,685,000 in origination value.
Applicant Income
West Penn Financial Service Center lent most frequently to those with incomes in the $50k-75k range, with 227 originations. The second most popular income band? $100k-150k, with 179 originations.
Applicant Debt to Income Ratio
West Penn Financial Service Center lent most frequently to those with DTI ratios of 20-30%, with 176 originations. The next most common DTI ratio? 30-36%, with 145 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.65%
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 Rate
Approvals leading to origination86.18%
West Penn Financial Service Center has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 803 | $168,715,000 | $210,106 |