Choice One Community Federal Credit Union Mortgage Rates, Fees & Info
Plains Township, PALEI: 549300DA1N0K2LJI0471
Tax ID: 24-0798456
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Mortgage Data
Review & Overview
Choice One Community Federal Credit Union is a smaller credit union specializing in Home Improvement, Cash Out Refi, and Refi loans. Choice One Community Federal Credit Union has a high proportion of conventional loans. Their top two markets are Scranton and Pottsville .Choice One Community Federal Credit Union has a below average approval rate when compared to the average across all lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Purchase | 5.68% | 12/30/24 |
| 15 Year Conventional Refi | 5.68% | 12/30/24 |
| 15 Year Cash-out Refi | 5.68% | 12/30/24 |
| 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. | ||
Choice One Community Federal Credit Union 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
63Origination Dollar Volume (All Markets)
$3,595,000Top 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 |
|---|---|---|---|---|---|
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 62 | $3,580,000 | $57,742 | $1,220 | 6.81% |
| Pottsville, PA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $747 | 5.99% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 61 | $3,535,000 | $57,951 | $1,212 | 6.86% |
| HELOC | 2 | $60,000 | $30,000 | n/a | 2.99% |
For 2023, Choice One Community Federal Credit Union's most frequently originated type of loan was Conventional, with 61 originations. Their 2nd most popular type was HELOC, with 2 originations.
Loan Reason
For 2023, Choice One Community Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 23 originations. The 2nd most popular reason was Cash Out Refi, with 19 originations.
Loan Duration/Length
For 2023, Choice One Community Federal Credit Union's most frequently cited loan duration was 15 Year, with 33 originations. The 2nd most popular length was 10 Year, with 13 originations.
Interest Rates
During 2023, Choice One Community Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 24 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 53 | $2,345,000 | $44,245 | $1,003 | 6.89% |
| $100k-200k | 10 | $1,250,000 | $125,000 | $2,280 | 6.34% |
2023 saw Choice One Community Federal Credit Union place emphasis on $100,000 or less loans with 53 originations, totaling $2,345,000 in origination value.
Applicant Income
Choice One Community Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 18 originations. The second most popular income band? $100k-150k, with 15 originations.
Applicant Debt to Income Ratio
Choice One Community Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? 30-36%, with 16 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 63 | $3,595,000 | $57,063 | $1,212 | 6.80% |
Approval Rates
Total approvals of all applications67.02%
Choice One Community Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 63 | $3,595,000 | $57,063 |