West Penn Financial Service Center Mortgage Rates, Fees & Info

ALLISON PARK, PA

LEI: 54930080F7BZFCWNV450

Tax ID: 25-1438513

5 stars - out of 5 stars, based on 43 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    West Penn Financial Service Center is a smaller mortgage company specializing in 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, New Castle, and Akron among others. We have data for 24 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 an above 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.27% 3/19/23
    30 Year Conventional Refi 6.27% 3/19/23
    30 Year Cash-out Refi 6.27% 3/19/23
    30 Year FHA Purchase 7.03% 3/19/23
    30 Year FHA Refi 6.27% 3/19/23
    30 Year VA Purchase 6.27% 3/19/23
    30 Year VA Refi 6.27% 3/19/23
    30 Year USDA Purchase 6.27% 3/19/23
    15 Year Conventional Purchase 5.68% 3/19/23
    15 Year Conventional Refi 5.68% 3/19/23
    15 Year Cash-out Refi 5.68% 3/19/23
    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.


    Originations

    1,879

    Origination Dollar Volume (All Markets)

    $370,515,000
    Show all (12) awards

    Relative Rate

    West Penn Financial Service Center's average 30 year fixed mortgage rate was 2.83%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.32%.

    Relative Fees (Closing Costs)

    West Penn Financial Service Center's average total fees/closing costs for a 30 year fixed rate mortgage were $4,852.

    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.

    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) 1,391 $292,405,000 $210,212 $4,846 2.76%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 286 $43,370,000 $151,643 $4,551 2.84%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 41 $7,495,000 $182,805 $4,318 2.87%
    New Castle, PA (FHA|USDA|VA) 44 $6,810,000 $154,773 $4,895 2.75%
    AKRON, OH (FHA|USDA|VA) 24 $5,020,000 $209,167 $4,239 2.80%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 15 $3,265,000 $217,667 $6,005 2.81%
    Indiana, PA (FHA|USDA|VA) 22 $3,010,000 $136,818 $5,252 2.93%
    Salem, OH (FHA|USDA|VA) 18 $2,520,000 $140,000 $3,914 2.97%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 7 $1,515,000 $216,429 $4,178 2.89%
    Meadville, PA (FHA|USDA|VA) 7 $1,035,000 $147,857 $5,273 2.64%
    Outside of Metro Areas 6 $960,000 $160,000 $4,392 2.81%
    ERIE, PA (FHA|USDA|VA) 1 $385,000 $385,000 $5,537 2.13%
    Wooster, OH (FHA|USDA|VA) 2 $350,000 $175,000 $3,653 3.13%
    Findlay, OH (FHA|USDA|VA) 1 $315,000 $315,000 $4,198 3.25%
    COLUMBUS, OH (FHA|USDA|VA) 1 $305,000 $305,000 $4,396 3.38%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $300,000 $150,000 $3,475 3.25%
    Chillicothe, OH (FHA|USDA|VA) 1 $275,000 $275,000 $3,638 2.75%
    Somerset, PA (FHA|USDA|VA) 2 $220,000 $110,000 $6,564 2.63%
    Oil City, PA (FHA|USDA|VA) 2 $200,000 $100,000 $4,972 2.88%
    Selinsgrove, PA (FHA|USDA|VA) 1 $195,000 $195,000 $4,761 3.00%
    JOHNSTOWN, PA (FHA|USDA|VA) 2 $180,000 $90,000 $3,732 2.75%
    SPRINGFIELD, OH (FHA|USDA|VA) 1 $155,000 $155,000 $4,216 3.50%
    ALTOONA, PA (FHA|USDA|VA) 1 $135,000 $135,000 $4,657 2.50%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $95,000 $95,000 $4,136 2.75%
    West Penn Financial Service Center's top markets include Pittsburgh, Youngstown, Cleveland, New Castle, and Akron among others.

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

    • 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.

    TRI BORO
    Similarity Rank: 208
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 414
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 524
    Standard Bank, PaSB
    Similarity Rank: 584
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 639
    Community Star Credit Union
    Similarity Rank: 792
    First Federal Savings and Loan Association of Lorain
    Similarity Rank: 873
    Clear Mountain Bank
    Similarity Rank: 928
    AmeriServ Financial Bank
    Similarity Rank: 1120
    Community Bank
    Similarity Rank: 1260

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,414 $295,260,000 $208,812 $4,338 2.80%
    FHA 339 $51,405,000 $151,637 $6,307 2.75%
    VA 75 $17,365,000 $231,533 $6,146 2.65%
    USDA 51 $6,485,000 $127,157 $5,000 2.78%

    For 2021, West Penn Financial Service Center's most frequently originated type of loan was Conventional, with 1,414 originations. Their 2nd most popular type was FHA, with 339 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,610 $313,930,000 $194,988 $4,899 2.82%
    Refi 178 $38,140,000 $214,270 $3,936 2.48%
    Cash Out Refi 90 $18,280,000 $203,111 $4,378 2.84%
    Other 1 $165,000 $165,000 $3,333 2.25%

    For 2021, West Penn Financial Service Center's most frequently cited loan purpose was Home Purchase, with 1,610 originations. The 2nd most popular reason was Refi, with 178 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,718 $338,630,000 $197,107 $4,852 2.83%
    15 Year 113 $21,605,000 $191,195 $3,995 2.22%
    20 Year 31 $6,375,000 $205,645 $3,994 2.58%
    Other 13 $3,655,000 $281,154 $4,662 2.50%
    10 Year 4 $250,000 $62,500 $3,429 2.25%

    For 2021, West Penn Financial Service Center's most frequently cited loan duration was 30 Year, with 1,718 originations. The 2nd most popular length was 15 Year, with 113 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,513 $300,755,000 $198,781
    $<1k 272 $48,320,000 $177,647
    $2k-3k 31 $8,015,000 $258,548
    $4k-5k 7 $2,135,000 $305,000
    $5k+ 6 $1,820,000 $303,333
    $3k-4k 3 $765,000 $255,000

    West Penn Financial Service Center's average total fees were $4,852, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,513 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,119 $223,855,000 $200,049
    <2.5% 460 $96,000,000 $208,696
    3-4% 291 $49,775,000 $171,048
    4-5% 9 $885,000 $98,333

    During 2021, West Penn Financial Service Center's average interest rate for loans was 2.83%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,119 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 889 $132,595,000 $149,151 $4,562 2.79%
    $200k-400k 653 $177,625,000 $272,014 $5,261 2.72%
    $100,000 or less 249 $18,735,000 $75,241 $3,846 2.92%
    $400k-600k 85 $39,575,000 $465,588 $6,080 2.74%
    $600k-1MM 3 $1,985,000 $661,667 $7,426 3.00%

    2021 saw West Penn Financial Service Center place emphasis on $100k-200k loans with 889 originations, totaling $132,595,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 532 $70,770,000 $133,026 $4,596 2.80%
    $50k-75k 479 $83,745,000 $174,833 $4,771 2.79%
    $75k-100k 335 $68,235,000 $203,687 $4,788 2.80%
    $100k-150k 328 $83,770,000 $255,396 $4,906 2.77%
    $150k-250k 167 $48,435,000 $290,030 $5,012 2.74%
    $250k+ 38 $15,560,000 $409,474 $5,430 2.69%

    West Penn Financial Service Center lent most frequently to those with incomes in the $50k or less range, with 532 originations. The second most popular income band? $50k-75k, with 479 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 488 $98,060,000 $200,943 $4,522 2.78%
    30-36% 370 $69,750,000 $188,514 $4,457 2.82%
    <20% 204 $41,500,000 $203,431 $4,528 2.74%
    50-60% 90 $16,200,000 $180,000 $6,158 2.67%
    43% 72 $14,440,000 $200,556 $5,037 2.81%
    39% 71 $13,865,000 $195,282 $4,656 2.84%
    38% 64 $12,120,000 $189,375 $4,871 2.73%
    37% 62 $12,930,000 $208,548 $4,885 2.88%
    36% 62 $11,580,000 $186,774 $4,776 2.79%
    40% 57 $11,295,000 $198,158 $4,973 2.75%
    41% 53 $10,945,000 $206,509 $5,149 2.79%
    44% 52 $10,280,000 $197,692 $4,907 2.73%
    45% 46 $9,810,000 $213,261 $5,539 2.87%
    42% 44 $9,740,000 $221,364 $5,796 2.75%
    46% 40 $7,480,000 $187,000 $4,767 2.83%
    49% 39 $7,765,000 $199,103 $5,096 2.78%
    47% 31 $6,505,000 $209,839 $5,007 2.80%
    48% 28 $5,060,000 $180,714 $5,570 2.77%
    >60% 5 $1,075,000 $215,000 $4,805 2.88%

    West Penn Financial Service Center lent most frequently to those with DTI ratios of 20-30%, with 488 originations. The next most common DTI ratio? 30-36%, with 370 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 1,324 $255,470,000 $192,953 $4,809 2.80%
    White 495 $103,215,000 $208,515 $4,743 2.75%
    Asian 22 $5,620,000 $255,455 $4,557 2.77%
    Black 21 $3,315,000 $157,857 $4,792 2.83%
    Other Asian 7 $955,000 $136,429 $3,804 2.89%
    Other Pacific Islander 2 $670,000 $335,000 $4,717 2.56%
    Asian Indian 2 $440,000 $220,000 $3,795 2.38%
    Korean 1 $265,000 $265,000 $3,660 2.50%
    Filipino 3 $245,000 $81,667 $4,223 3.13%
    Vietnamese 1 $175,000 $175,000 $4,298 2.50%
    American Indian 1 $145,000 $145,000 $6,547 2.25%

    Approval Rates

    Total approvals of all applications
    97.52%

    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 origination
    90.95%

    West Penn Financial Service Center has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,879 $370,515,000 $197,187

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,879 $370,515,000 $197,187

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $1,250,000 $89,286 $3,732 2.60%
    40-60% 92 $16,120,000 $175,217 $3,889 2.53%
    60-80% 421 $88,605,000 $210,463 $4,349 2.79%
    80-100% 1,327 $259,585,000 $195,618 $4,931 2.80%
    Over 100% 23 $4,825,000 $209,783 $8,441 2.84%
    Under 20% 2 $130,000 $65,000 $3,390 2.44%