West Penn Financial Service Center Mortgage Rates, Fees & Info

ALLISON PARK, PA

LEI: 54930080F7BZFCWNV450

Tax ID: 25-1438513

4.5 stars - Updated: 9/18/23 - out of 5 stars, based on 33 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • 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 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.

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

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    SimulatedRates™

    Mortgage Type     		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 Estimates

    Estimated 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.


    Originations

    1,078

    Origination Dollar Volume (All Markets)

    $214,460,000
    Show all (12) awards

    Relative Rate

    West Penn Financial Service Center's average 30 year fixed mortgage rate was 5.09%.

    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.

    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) 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%
    West Penn Financial Service Center's top markets include Pittsburgh, Youngstown, Cleveland, Akron, and New Castle 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: 322
    Community Star Credit Union
    Similarity Rank: 396
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 497
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 524
    Clear Mountain Bank
    Similarity Rank: 580
    First Federal Savings and Loan Association of Lorain
    Similarity Rank: 873
    AmeriServ Financial Bank
    Similarity Rank: 1056
    The Farmers National Bank of Emlenton
    Similarity Rank: 1230
    Washington Financial Bank
    Similarity Rank: 1290

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 811 $171,005,000 $210,857 $5,629 5.07%
    FHA 191 $28,355,000 $148,455 $6,741 5.06%
    VA 54 $12,170,000 $225,370 $8,624 4.92%
    USDA 22 $2,930,000 $133,182 $5,275 4.92%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,045 $208,575,000 $199,593 $6,006 5.09%
    Refi 18 $3,440,000 $191,111 $4,947 3.81%
    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 Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,042 $208,210,000 $199,818 $6,012 5.09%
    15 Year 28 $4,880,000 $174,286 $4,604 3.87%
    20 Year 8 $1,370,000 $171,250 $5,041 4.77%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 674 $131,530,000 $195,148
    $<1k 144 $24,520,000 $170,278
    $2k-3k 118 $23,220,000 $196,780
    $3k-4k 61 $12,765,000 $209,262
    $5k+ 45 $14,475,000 $321,667
    $4k-5k 30 $7,040,000 $234,667

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 417 $80,545,000 $193,153
    4-5% 224 $48,650,000 $217,188
    3-4% 200 $40,950,000 $204,750
    6-7% 142 $26,100,000 $183,803
    2.5-3% 50 $10,730,000 $214,600
    7-8% 43 $6,975,000 $162,209
    <2.5% 2 $510,000 $255,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 507 $77,395,000 $152,653 $5,171 5.15%
    $200k-400k 360 $96,600,000 $268,333 $7,493 5.03%
    $100,000 or less 155 $11,855,000 $76,484 $4,192 5.04%
    $400k-600k 48 $22,750,000 $473,958 $7,900 4.49%
    $600k-1MM 7 $4,785,000 $683,571 $11,189 4.30%
    $1MM+ 1 $1,075,000 $1,075,000 $5,490 4.50%

    2022 saw West Penn Financial Service Center place emphasis on $100k-200k loans with 507 originations, totaling $77,395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 298 $49,580,000 $166,376 $5,429 5.06%
    $75k-100k 225 $44,355,000 $197,133 $5,764 5.16%
    $50k or less 224 $26,450,000 $118,080 $4,718 4.96%
    $100k-150k 204 $50,390,000 $247,010 $7,852 5.12%
    $150k-250k 103 $33,305,000 $323,350 $6,680 4.99%
    $250k+ 24 $10,380,000 $432,500 $7,197 4.83%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 268 $54,580,000 $203,657 $6,671 4.91%
    30-36% 205 $41,225,000 $201,098 $5,472 5.04%
    <20% 85 $17,085,000 $201,000 $5,196 4.76%
    50-60% 59 $11,065,000 $187,542 $6,845 5.28%
    39% 49 $10,205,000 $208,265 $6,142 5.45%
    41% 43 $8,685,000 $201,977 $5,833 5.23%
    44% 42 $8,390,000 $199,762 $5,579 5.03%
    38% 39 $8,435,000 $216,282 $6,306 5.37%
    42% 37 $7,335,000 $198,243 $5,735 5.18%
    40% 36 $7,540,000 $209,444 $6,083 4.86%
    37% 35 $5,715,000 $163,286 $5,075 5.13%
    45% 29 $5,085,000 $175,345 $5,594 4.92%
    43% 28 $5,860,000 $209,286 $5,423 5.32%
    36% 27 $5,575,000 $206,481 $5,594 5.12%
    47% 26 $4,750,000 $182,692 $5,918 5.28%
    49% 24 $4,920,000 $205,000 $6,338 5.28%
    48% 23 $4,055,000 $176,304 $5,385 5.09%
    46% 23 $3,955,000 $171,957 $6,246 5.16%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 679 $133,125,000 $196,060 $5,554 5.06%
    White 373 $76,625,000 $205,429 $6,732 5.04%
    Black 15 $2,635,000 $175,667 $6,306 5.05%
    Asian 8 $1,670,000 $208,750 $5,140 5.27%
    American Indian 2 $250,000 $125,000 $4,539 5.94%
    Other Asian 1 $155,000 $155,000 $6,847 5.63%

    Approval Rates

    Total approvals of all applications
    95.08%

    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
    88.96%

    West Penn Financial Service Center has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,078 $214,460,000 $198,942

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,078 $214,460,000 $198,942

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $1,030,000 $85,833 $3,858 5.20%
    40-60% 38 $6,350,000 $167,105 $4,786 4.81%
    60-80% 208 $41,270,000 $198,413 $5,162 5.00%
    80-100% 801 $161,515,000 $201,642 $6,141 5.09%
    Over 100% 19 $4,295,000 $226,053 $11,280 4.87%