West Virginia Central Federal Credit Union Mortgage Rates, Fees & Info

Parkersburg, WV

LEI: 549300FFFM0IGJLBWH48

Tax ID: 55-0518255

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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 Virginia Central Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. West Virginia Central Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Parkersburg, Marietta, Hagerstown, Charleston, and Point Pleasant among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    West Virginia Central Federal Credit Union 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.

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    Originations

    93

    Origination Dollar Volume (All Markets)

    $9,125,000

    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
    PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 67 $6,565,000 $97,985 $3,152 4.10%
    Marietta, OH (FHA|USDA|VA) 14 $1,690,000 $120,714 $3,665 3.90%
    Outside of Metro Areas 6 $380,000 $63,333 $2,931 4.31%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $175,000 $175,000 $3,308 4.38%
    CHARLESTON, WV (FHA|USDA|VA) 2 $160,000 $80,000 $2,829 3.94%
    Point Pleasant, WV-OH (FHA|USDA|VA) 1 $65,000 $65,000 $2,676 4.50%
    BECKLEY, WV (FHA|USDA|VA) 1 $55,000 $55,000 $1,747 3.25%
    MORGANTOWN, WV (FHA|USDA|VA) 1 $35,000 $35,000 $3,034 3.38%
    West Virginia Central Federal Credit Union's top markets include Parkersburg, Marietta, Hagerstown, Charleston, and Point Pleasant among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 93 $9,125,000 $98,118 $3,173 4.07%

    For 2019, West Virginia Central Federal Credit Union's most frequently originated type of loan was Conventional, with 93 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 61 $5,535,000 $90,738 $3,067 4.04%
    Home Purchase 20 $1,940,000 $97,000 $3,268 4.16%
    Refi 8 $720,000 $90,000 $3,345 4.15%
    Other 4 $930,000 $232,500 $4,023 3.94%

    For 2019, West Virginia Central Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 61 originations. The 2nd most popular reason was Home Purchase, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 47 $5,645,000 $120,106 $3,340 4.13%
    15 Year 37 $2,985,000 $80,676 $3,031 4.04%
    10 Year 7 $355,000 $50,714 $2,623 3.81%
    5 Year 1 $55,000 $55,000 $1,747 3.25%
    Other 1 $85,000 $85,000 $5,343 0.00%

    For 2019, West Virginia Central Federal Credit Union's most frequently cited loan duration was 20 Year, with 47 originations. The 2nd most popular length was 15 Year, with 37 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 70 $5,700,000 $81,429
    $1k-2k 7 $1,925,000 $275,000

    West Virginia Central Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 70 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 39 $3,875,000 $99,359
    4-5% 36 $3,550,000 $98,611
    5-6% 2 $210,000 $105,000

    During 2019, West Virginia Central Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 39 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 67 $4,445,000 $66,343 $2,900 4.06%
    $100k-200k 18 $2,390,000 $132,778 $3,402 4.08%
    $200k-400k 8 $2,290,000 $286,250 $5,115 4.13%

    2019 saw West Virginia Central Federal Credit Union place emphasis on $100,000 or less loans with 67 originations, totaling $4,445,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 35 $3,085,000 $88,143 $3,083 3.96%
    $50k or less 26 $1,730,000 $66,538 $2,823 4.14%
    $75k-100k 19 $2,465,000 $129,737 $3,415 4.11%
    $100k-150k 11 $1,615,000 $146,818 $3,670 4.17%
    $250k+ 1 $125,000 $125,000 $3,832 3.75%

    West Virginia Central Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 35 originations. The second most popular income band? $50k or less, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 25 $2,575,000 $103,000 $3,162 4.02%
    <20% 17 $1,505,000 $88,529 $2,787 4.04%
    30-36% 9 $775,000 $86,111 $2,998 4.48%
    50-60% 5 $725,000 $145,000 $4,722 4.08%
    >60% 4 $280,000 $70,000 $2,481 4.16%
    40% 4 $310,000 $77,500 $3,201 3.75%
    36% 2 $120,000 $60,000 $2,578 3.94%
    49% 2 $220,000 $110,000 $3,080 4.06%
    37% 2 $540,000 $270,000 $4,775 3.81%
    41% 2 $110,000 $55,000 $2,676 4.19%
    39% 1 $65,000 $65,000 $4,039 3.75%
    38% 1 $95,000 $95,000 $2,681 3.50%
    43% 1 $125,000 $125,000 $2,241 3.88%
    45% 1 $115,000 $115,000 $3,648 4.13%
    47% 1 $75,000 $75,000 $2,526 4.25%

    West Virginia Central Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? <20%, with 17 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 93 $9,125,000 $98,118 $3,173 4.07%

    Approval Rates

    Total approvals of all applications
    94.21%

    West Virginia Central Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.65%

    West Virginia Central Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 93 $9,125,000 $98,118

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 7 $535,000 $76,429
    Single Family (1-4 Units):Site-Built 86 $8,590,000 $99,884

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $360,000 $45,000 $2,686 3.59%
    40-60% 15 $1,255,000 $83,667 $2,989 3.84%
    60-80% 47 $5,065,000 $107,766 $3,268 4.10%
    80-100% 15 $1,475,000 $98,333 $3,302 4.25%
    Under 20% 2 $100,000 $50,000 $2,520 3.88%