Partners 1st Federal Credit Union Mortgage Rates, Fees & Info

Fort Wayne, IN

LEI: 549300FHTPSIK7LBKD38

Tax ID: 35-1079936

5 stars - Updated: 7/14/24 - out of 5 stars, based on 19 reviews

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

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Mortgage Data

Review & Overview

Partners 1st Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Partners 1st Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Fort Wayne, Angola, Kendallville, Warsaw, and Huntington among others. We have data for 27 markets. (Some data included below & more in-depth data is available with an active subscription.)

Partners 1st Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Partners 1st Federal Credit Union 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 relatively high 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
Home Equity Line of Credit (HELOC) 6.45% 7/14/24
30 Year Conventional Purchase 5.63% 7/14/24
30 Year Conventional Refi 5.94% 7/14/24
30 Year Cash-out Refi 6.25% 7/14/24
15 Year Conventional Purchase 5.86% 7/14/24
15 Year Conventional Refi 6.83% 7/14/24
15 Year Cash-out Refi 6.83% 7/14/24
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.

Partners 1st Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Partners 1st Federal Credit Union. 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

350

Origination Dollar Volume (All Markets)

$44,180,000

Awards

PARTNERS 1ST Federal Credit Union 30 Year Conventional Loans silver PARTNERS 1ST Federal Credit Union 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Partners 1st Federal Credit Union's average 30 year fixed mortgage rate was 6.64%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.16%.

Relative Fees (Closing Costs)

Partners 1st Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,871.

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 $9,089.

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
FORT WAYNE, IN (FHA|USDA|VA) 199 $23,945,000 $120,327 $1,716 7.09%
Outside of Metro Areas 53 $4,585,000 $86,509 $1,324 6.58%
Angola, IN (FHA|USDA|VA) 12 $2,650,000 $220,833 $2,236 6.19%
Kendallville, IN (FHA|USDA|VA) 10 $2,120,000 $212,000 $3,134 6.64%
Warsaw, IN (FHA|USDA|VA) 4 $2,090,000 $522,500 $2,411 5.41%
Huntington, IN (FHA|USDA|VA) 17 $1,815,000 $106,765 $1,484 7.06%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 6 $980,000 $163,333 $2,975 7.00%
Auburn, IN (FHA|USDA|VA) 5 $945,000 $189,000 $1,937 7.15%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 6 $600,000 $100,000 $1,342 7.69%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $600,000 $300,000 $2,450 5.94%
Bluffton, IN (FHA|USDA|VA) 3 $565,000 $188,333 $1,662 7.08%
Wabash, IN (FHA|USDA|VA) 3 $545,000 $181,667 $1,277 8.75%
Van Wert, OH (FHA|USDA|VA) 1 $345,000 $345,000 $4,052 8.13%
Cambridge, MD (FHA|USDA|VA) 4 $330,000 $82,500 $2,052 7.78%
Decatur, IN (FHA|USDA|VA) 3 $315,000 $105,000 $1,030 7.17%
KOKOMO, IN (FHA|USDA|VA) 1 $275,000 $275,000 $2,512 5.25%
Defiance, OH (FHA|USDA|VA) 3 $265,000 $88,333 $1,645 6.58%
Marion, IN (FHA|USDA|VA) 3 $215,000 $71,667 $1,400 7.91%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $175,000 $175,000 $3,429 6.88%
HARRISONBURG, VA (FHA|USDA|VA) 2 $170,000 $85,000 $2,807 8.31%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $160,000 $80,000 $1,556 4.39%
TOLEDO, OH (FHA|USDA|VA) 2 $160,000 $80,000 $199 7.88%
Easton, MD (FHA|USDA|VA) 1 $95,000 $95,000 $0 8.00%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 3 $75,000 $25,000 $150 6.76%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $70,000 $35,000 $0 8.25%
LIMA, OH (FHA|USDA|VA) 1 $65,000 $65,000 $199 4.24%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $25,000 $25,000 $0 6.25%
Partners 1st Federal Credit Union's top markets include Fort Wayne, Angola, Kendallville, Warsaw, and Huntington among others.

Their top states include:
  • Indiana (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against PARTNERS 1ST Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Crossroads Bank
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    Similarity Rank: 621

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 283 $39,795,000 $140,618 $1,747 6.62%
    HELOC 67 $4,385,000 $65,448 n/a 8.40%

    For 2023, Partners 1st Federal Credit Union's most frequently originated type of loan was Conventional, with 283 originations. Their 2nd most popular type was HELOC, with 67 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 163 $11,225,000 $68,865 $648 7.16%
    Home Purchase 102 $28,690,000 $281,275 $3,190 6.18%
    Home Improvement 79 $3,885,000 $49,177 $284 7.58%
    Refi 4 $300,000 $75,000 $199 5.31%
    Other 2 $80,000 $40,000 $150 9.50%

    For 2023, Partners 1st Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 163 originations. The 2nd most popular reason was Home Purchase, with 102 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 90 $5,900,000 $65,556 $583 7.67%
    30 Year 76 $18,190,000 $239,342 $2,871 6.64%
    Other 76 $5,080,000 $66,842 $933 7.89%
    10 Year 61 $3,335,000 $54,672 $213 6.24%
    30+ year 24 $10,600,000 $441,667 $4,421 5.40%
    5 Year 21 $675,000 $32,143 $150 5.70%
    20 Year 2 $400,000 $200,000 $2,731 6.75%

    For 2023, Partners 1st Federal Credit Union's most frequently cited loan duration was 15 Year, with 90 originations. The 2nd most popular length was 30 Year, with 76 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 267 $34,995,000 $131,067
    $4k-5k 4 $1,430,000 $357,500
    $1k-2k 3 $835,000 $278,333
    $2k-3k 2 $420,000 $210,000
    $3k-4k 2 $470,000 $235,000
    $5k+ 2 $1,580,000 $790,000

    Partners 1st Federal Credit Union's average total fees were $2,871, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 267 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 90 $5,220,000 $58,000
    6-7% 81 $12,895,000 $159,198
    7-8% 79 $7,965,000 $100,823
    5-6% 58 $9,450,000 $162,931
    4-5% 34 $8,000,000 $235,294
    3-4% 8 $650,000 $81,250

    During 2023, Partners 1st Federal Credit Union's average interest rate for loans was 6.64%, while their most frequently originated rate bucket for loans was Over 8%, with 90 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 222 $10,670,000 $48,063 $457 7.28%
    $100k-200k 57 $7,995,000 $140,263 $1,995 6.77%
    $200k-400k 53 $14,675,000 $276,887 $3,347 6.38%
    $400k-600k 13 $6,325,000 $486,538 $3,690 5.51%
    $600k-1MM 3 $1,845,000 $615,000 $3,736 5.71%
    $1MM+ 2 $2,670,000 $1,335,000 $6,041 4.50%

    2023 saw Partners 1st Federal Credit Union place emphasis on $100,000 or less loans with 222 originations, totaling $10,670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 94 $15,360,000 $163,404 $2,211 6.74%
    $50k-75k 77 $6,255,000 $81,234 $1,475 7.25%
    $75k-100k 69 $8,215,000 $119,058 $1,722 7.11%
    $150k-250k 53 $8,165,000 $154,057 $1,598 6.57%
    $50k or less 47 $2,715,000 $57,766 $1,446 7.07%
    $250k+ 10 $3,470,000 $347,000 $1,677 7.46%

    Partners 1st Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 94 originations. The second most popular income band? $50k-75k, with 77 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 105 $8,335,000 $79,381 $1,110 7.08%
    <20% 54 $3,710,000 $68,704 $696 6.83%
    30-36% 49 $6,685,000 $136,429 $2,010 7.09%
    43% 16 $3,130,000 $195,625 $2,691 7.37%
    42% 14 $970,000 $69,286 $989 8.23%
    36% 12 $1,660,000 $138,333 $2,251 6.70%
    44% 11 $1,595,000 $145,000 $2,166 6.37%
    38% 11 $1,745,000 $158,636 $1,516 6.63%
    41% 11 $1,475,000 $134,091 $2,743 7.39%
    39% 10 $1,140,000 $114,000 $1,964 7.10%
    40% 10 $1,570,000 $157,000 $2,224 6.53%
    37% 8 $1,150,000 $143,750 $2,332 6.89%
    49% 8 $2,660,000 $332,500 $3,430 6.14%
    46% 7 $1,985,000 $283,571 $3,363 6.57%
    50-60% 7 $2,375,000 $339,286 $2,796 5.98%
    45% 6 $640,000 $106,667 $793 7.60%
    48% 6 $2,010,000 $335,000 $4,044 5.60%
    47% 4 $1,280,000 $320,000 $2,747 6.75%
    >60% 1 $65,000 $65,000 $0 5.25%

    Partners 1st Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 105 originations. The next most common DTI ratio? <20%, with 54 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 272 $30,930,000 $113,713 $1,573 6.93%
    Not provided 62 $11,900,000 $191,935 $2,531 6.95%
    Black 10 $890,000 $89,000 $1,119 7.79%
    Asian 2 $290,000 $145,000 $2,502 7.19%
    American Indian 2 $90,000 $45,000 $150 7.13%
    Asian Indian 1 $45,000 $45,000 $0 7.25%
    Other Asian 1 $35,000 $35,000 $0 7.75%

    Approval Rates

    Total approvals of all applications
    88.31%

    Partners 1st Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.86%

    Partners 1st Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 350 $44,180,000 $126,229

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    350 $44,180,000 $126,229

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 91 $6,435,000 $70,714 $682 7.41%
    40-60% 26 $3,090,000 $118,846 $1,232 6.63%
    60-80% 43 $11,075,000 $257,558 $2,986 6.43%
    80-100% 60 $18,380,000 $306,333 $3,199 6.27%
    Under 20% 130 $5,200,000 $40,000 $318 7.22%