West Penn Financial Service Center Mortgage Rates, Fees & Info

ALLISON PARK, PA

LEI: 54930080F7BZFCWNV450

Tax ID: 25-1438513

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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, New Castle, Salem, and Indiana among others. We have data for 18 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.

    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% 4/21/24
    30 Year Conventional Refi 4.12% 4/21/24
    30 Year Cash-out Refi 4.09% 4/21/24
    30 Year FHA Purchase 6.12% 4/21/24
    30 Year FHA Refi 3.87% 4/21/24
    30 Year VA Purchase 5.01% 4/21/24
    30 Year USDA Purchase 5.26% 4/21/24
    15 Year Conventional Purchase 4.25% 4/21/24
    15 Year Conventional Refi 3.17% 4/21/24
    15 Year Cash-out Refi 3.17% 4/21/24
    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

    1,112

    Origination Dollar Volume (All Markets)

    $163,960,000
    Show all (7) awards

    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) 849 $132,535,000 $156,107 $4,786 4.49%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 134 $15,350,000 $114,552 $4,042 4.56%
    New Castle, PA (FHA|USDA|VA) 33 $4,135,000 $125,303 $4,808 4.43%
    Salem, OH (FHA|USDA|VA) 26 $3,010,000 $115,769 $3,597 4.68%
    Indiana, PA (FHA|USDA|VA) 16 $2,370,000 $148,125 $4,807 4.37%
    Outside of Metro Areas 14 $1,940,000 $138,571 $4,275 4.52%
    Somerset, PA (FHA|USDA|VA) 13 $1,455,000 $111,923 $4,299 4.54%
    AKRON, OH (FHA|USDA|VA) 4 $670,000 $167,500 $4,593 4.19%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 4 $410,000 $102,500 $4,435 4.59%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 4 $390,000 $97,500 $3,743 4.72%
    Oil City, PA (FHA|USDA|VA) 4 $330,000 $82,500 $4,611 4.78%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $275,000 $275,000 $5,497 4.63%
    Meadville, PA (FHA|USDA|VA) 3 $235,000 $78,333 $3,984 4.58%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $230,000 $115,000 $5,420 5.00%
    Ashtabula, OH (FHA|USDA|VA) 2 $210,000 $105,000 $3,318 4.63%
    New Philadelphia-Dover, OH (FHA|USDA|VA) 1 $195,000 $195,000 $4,771 4.25%
    ALTOONA, PA (FHA|USDA|VA) 1 $145,000 $145,000 $3,690 4.63%
    JOHNSTOWN, PA (FHA|USDA|VA) 1 $75,000 $75,000 $4,576 4.75%
    West Penn Financial Service Center's top markets include Pittsburgh, Youngstown, New Castle, Salem, and Indiana 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.

    Westmoreland Federal Savings
    Similarity Rank: 12
    Cleveland Selfreliance FCU
    Similarity Rank: 15
    TRI BORO
    Similarity Rank: 25
    FIRESTONE
    Similarity Rank: 32
    Home Federal Savings and Loan Association of Niles
    Similarity Rank: 32
    Commercial Bank and Trust of PA
    Similarity Rank: 57
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 88
    West View Savings Bank
    Similarity Rank: 102
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 152
    M. S. Flynn, Inc.
    Similarity Rank: 204

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 599 $96,165,000 $160,543 $4,008 4.61%
    FHA 360 $45,680,000 $126,889 $5,579 4.38%
    VA 81 $14,095,000 $174,012 $5,599 4.37%
    USDA 72 $8,020,000 $111,389 $4,240 4.43%

    For 2018, West Penn Financial Service Center's most frequently originated type of loan was Conventional, with 599 originations. Their 2nd most popular type was FHA, with 360 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,096 $161,050,000 $146,943 $4,653 4.51%
    Cash Out Refi 9 $1,775,000 $197,222 $4,527 4.56%
    Refi 7 $1,135,000 $162,143 $3,860 4.36%

    For 2018, West Penn Financial Service Center's most frequently cited loan purpose was Home Purchase, with 1,096 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,072 $158,610,000 $147,957 $4,683 4.51%
    15 Year 29 $3,475,000 $119,828 $3,656 4.19%
    20 Year 8 $1,160,000 $145,000 $3,639 4.64%
    Other 3 $715,000 $238,333 $4,020 4.29%

    For 2018, West Penn Financial Service Center's most frequently cited loan duration was 30 Year, with 1,072 originations. The 2nd most popular length was 15 Year, with 29 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 641 $98,275,000 $153,315
    $<1k 421 $56,995,000 $135,380
    $2k-3k 22 $4,460,000 $202,727
    $3k-4k 4 $910,000 $227,500
    $4k-5k 3 $595,000 $198,333
    $5k+ 1 $215,000 $215,000

    West Penn Financial Service Center's average total fees were $4,683, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 641 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 948 $141,700,000 $149,473
    3-4% 109 $16,505,000 $151,422
    5-6% 50 $5,300,000 $106,000
    6-7% 5 $455,000 $91,000

    During 2018, West Penn Financial Service Center's average interest rate for loans was 4.51%, while their most frequently originated rate bucket for loans was 4-5%, with 948 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 605 $86,915,000 $143,661 $4,673 4.48%
    $100,000 or less 298 $21,690,000 $72,785 $3,846 4.60%
    $200k-400k 199 $51,035,000 $256,457 $5,666 4.45%
    $400k-600k 10 $4,320,000 $432,000 $6,719 4.43%

    2018 saw West Penn Financial Service Center place emphasis on $100k-200k loans with 605 originations, totaling $86,915,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 369 $36,955,000 $100,149 $4,189 4.52%
    $50k-75k 355 $49,855,000 $140,437 $4,681 4.50%
    $75k-100k 185 $31,015,000 $167,649 $4,980 4.49%
    $100k-150k 154 $32,620,000 $211,818 $5,136 4.49%
    $150k-250k 41 $11,135,000 $271,585 $5,170 4.57%
    $250k+ 8 $2,380,000 $297,500 $4,554 4.58%

    West Penn Financial Service Center lent most frequently to those with incomes in the $50k or less range, with 369 originations. The second most popular income band? $50k-75k, with 355 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 232 $33,500,000 $144,397 $4,223 4.55%
    30-36% 193 $26,875,000 $139,249 $4,453 4.53%
    50-60% 108 $15,400,000 $142,593 $5,522 4.40%
    <20% 75 $9,215,000 $122,867 $4,012 4.53%
    38% 47 $6,925,000 $147,340 $4,422 4.66%
    36% 43 $7,125,000 $165,698 $5,264 4.33%
    44% 40 $6,730,000 $168,250 $4,831 4.51%
    43% 37 $5,885,000 $159,054 $4,846 4.52%
    42% 36 $4,870,000 $135,278 $4,738 4.61%
    37% 36 $5,650,000 $156,944 $4,387 4.39%
    39% 36 $5,250,000 $145,833 $4,877 4.49%
    48% 36 $5,930,000 $164,722 $4,888 4.54%
    45% 35 $5,115,000 $146,143 $5,246 4.35%
    41% 33 $5,115,000 $155,000 $4,287 4.56%
    40% 32 $5,400,000 $168,750 $5,067 4.50%
    47% 28 $4,250,000 $151,786 $4,670 4.58%
    46% 26 $4,770,000 $183,462 $4,713 4.43%
    49% 23 $3,465,000 $150,652 $5,184 4.42%
    >60% 16 $2,490,000 $155,625 $5,327 4.53%

    West Penn Financial Service Center lent most frequently to those with DTI ratios of 20-30%, with 232 originations. The next most common DTI ratio? 30-36%, with 193 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 603 $91,545,000 $151,816 $4,682 4.53%
    White 468 $66,450,000 $141,987 $4,565 4.48%
    Black 23 $2,675,000 $116,304 $4,910 4.52%
    Asian 15 $2,665,000 $177,667 $5,057 4.37%
    American Indian 2 $490,000 $245,000 $7,295 4.50%
    Native Hawaiian or Islander 1 $135,000 $135,000 $3,574 4.00%

    Approval Rates

    Total approvals of all applications
    97.04%

    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
    88.31%

    West Penn Financial Service Center has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,112 $163,960,000 $147,446

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $365,000 $73,000
    Single Family (1-4 Units):Site-Built 1,107 $163,595,000 $147,782

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $410,000 $68,333 $3,577 4.52%
    40-60% 34 $4,300,000 $126,471 $3,891 4.49%
    60-80% 158 $26,200,000 $165,823 $4,082 4.58%
    80-100% 897 $130,965,000 $146,003 $4,754 4.49%
    Over 100% 16 $2,070,000 $129,375 $5,644 4.55%
    Under 20% 1 $15,000 $15,000 $12,984 4.25%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Westpark Equity Group, Inc. Other type of mortgage Closing on a mortgage 1 100.0%