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

Fort Wayne, IN

LEI: 549300FHTPSIK7LBKD38

Tax ID: 35-1079936

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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

    Partners 1st Federal Credit Union is a smaller credit union specializing in Cash Out Refi, 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, Washington, Indianapolis, Auburn, and Huntington among others. We have data for 39 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 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
    Home Equity Line of Credit (HELOC) 6.45% 11/21/24
    30 Year Conventional Purchase 5.63% 11/21/24
    30 Year Conventional Refi 5.94% 11/21/24
    30 Year Cash-out Refi 6.25% 11/21/24
    15 Year Conventional Purchase 5.86% 11/21/24
    15 Year Conventional Refi 6.83% 11/21/24
    15 Year Cash-out Refi 6.83% 11/21/24
    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.

    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

    647

    Origination Dollar Volume (All Markets)

    $93,995,000
    Show all (6) 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
    FORT WAYNE, IN (FHA|USDA|VA) 344 $46,560,000 $135,349 $2,019 3.14%
    Outside of Metro Areas 116 $16,470,000 $141,983 $2,586 3.47%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 33 $8,075,000 $244,697 $2,936 3.53%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 20 $3,620,000 $181,000 $2,324 3.01%
    Auburn, IN (FHA|USDA|VA) 19 $2,875,000 $151,316 $1,920 3.02%
    Huntington, IN (FHA|USDA|VA) 18 $2,340,000 $130,000 $2,326 3.06%
    Angola, IN (FHA|USDA|VA) 7 $1,385,000 $197,857 $2,289 2.66%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 6 $1,150,000 $191,667 $2,051 3.05%
    HARRISONBURG, VA (FHA|USDA|VA) 6 $950,000 $158,333 $2,796 2.58%
    Cambridge, MD (FHA|USDA|VA) 9 $935,000 $103,889 $2,054 3.97%
    Kendallville, IN (FHA|USDA|VA) 9 $855,000 $95,000 $1,625 3.53%
    TOLEDO, OH (FHA|USDA|VA) 4 $720,000 $180,000 $3,081 3.75%
    Bluffton, IN (FHA|USDA|VA) 4 $610,000 $152,500 $2,276 2.72%
    WINCHESTER, VA-WV (FHA|USDA|VA) 4 $610,000 $152,500 $2,217 5.50%
    SALISBURY, MD-DE (FHA|USDA|VA) 4 $580,000 $145,000 $2,861 2.72%
    Warsaw, IN (FHA|USDA|VA) 3 $575,000 $191,667 $3,659 3.00%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 3 $495,000 $165,000 $3,078 2.96%
    Marion, IN (FHA|USDA|VA) 8 $490,000 $61,250 $1,429 4.20%
    COLUMBUS, OH (FHA|USDA|VA) 3 $475,000 $158,333 $3,313 3.50%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $455,000 $151,667 $2,623 2.92%
    Defiance, OH (FHA|USDA|VA) 2 $330,000 $165,000 $3,068 2.75%
    ELKHART-GOSHEN, IN (FHA|USDA|VA) 1 $325,000 $325,000 $2,490 2.63%
    Wabash, IN (FHA|USDA|VA) 4 $270,000 $67,500 $874 5.03%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $235,000 $235,000 $2,449 2.75%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $235,000 $235,000 $3,517 2.63%
    STAUNTON, VA (FHA|USDA|VA) 1 $235,000 $235,000 $2,195 3.00%
    KOKOMO, IN (FHA|USDA|VA) 2 $220,000 $110,000 $2,075 2.63%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $215,000 $215,000 $2,286 2.63%
    Peru, IN (FHA|USDA|VA) 1 $215,000 $215,000 $2,531 2.50%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $205,000 $205,000 $3,060 2.25%
    COLUMBUS, IN (FHA|USDA|VA) 1 $195,000 $195,000 $1,972 3.25%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $185,000 $185,000 $2,412 3.13%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $175,000 $175,000 $2,391 2.25%
    Decatur, IN (FHA|USDA|VA) 1 $155,000 $155,000 $2,253 2.88%
    Mount Sterling, KY (FHA|USDA|VA) 1 $155,000 $155,000 $2,312 3.13%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $145,000 $145,000 $2,626 2.75%
    MUNCIE, IN (FHA|USDA|VA) 1 $125,000 $125,000 $1,778 2.25%
    BLOOMINGTON, IN (FHA|USDA|VA) 1 $95,000 $95,000 $2,337 2.75%
    Fremont, OH (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.75%
    Partners 1st Federal Credit Union's top markets include Fort Wayne, Washington, Indianapolis, Auburn, 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.

    Fire Police City County Federal Credit Union
    Similarity Rank: 315
    Hendricks County Bank and Trust Company
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    MIDWEST AMERICA
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    Independent Federal Credit Union
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    Security Federal Savings Bank
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    Poli Mortgage Group, Inc.
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    Beeline Loans, Inc.
    Similarity Rank: 1505

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 596 $91,230,000 $153,070 $2,220 3.14%
    HELOC 51 $2,765,000 $54,216 n/a 4.44%

    For 2020, Partners 1st Federal Credit Union's most frequently originated type of loan was Conventional, with 596 originations. Their 2nd most popular type was HELOC, with 51 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 284 $35,390,000 $124,613 $2,000 3.60%
    Refi 221 $36,225,000 $163,914 $2,241 2.75%
    Home Purchase 125 $21,775,000 $174,200 $2,742 3.04%
    Home Improvement 13 $445,000 $34,231 $192 4.99%
    Other 4 $160,000 $40,000 $150 5.38%

    For 2020, Partners 1st Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 284 originations. The 2nd most popular reason was Refi, with 221 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 277 $50,155,000 $181,065 $2,545 3.05%
    15 Year 202 $25,720,000 $127,327 $2,055 3.17%
    20 Year 62 $9,920,000 $160,000 $2,534 2.89%
    Other 53 $3,525,000 $66,509 $4,311 4.28%
    10 Year 42 $2,850,000 $67,857 $300 3.86%
    5 Year 6 $100,000 $16,667 $150 4.75%
    30+ year 5 $1,725,000 $345,000 $3,954 2.88%

    For 2020, Partners 1st Federal Credit Union's most frequently cited loan duration was 30 Year, with 277 originations. The 2nd most popular length was 15 Year, with 202 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 573 $86,095,000 $150,253
    $1k-2k 11 $1,735,000 $157,727
    $4k-5k 5 $1,785,000 $357,000
    $2k-3k 4 $850,000 $212,500
    $3k-4k 3 $765,000 $255,000

    Partners 1st Federal Credit Union's average total fees were $2,545, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 573 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 276 $46,590,000 $168,804
    3-4% 159 $22,145,000 $139,277
    <2.5% 137 $21,805,000 $159,161
    4-5% 25 $1,405,000 $56,200
    5-6% 21 $925,000 $44,048
    7-8% 10 $460,000 $46,000
    Over 8% 10 $330,000 $33,000
    6-7% 9 $335,000 $37,222

    During 2020, Partners 1st Federal Credit Union's average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was 2.5-3%, with 276 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 249 $36,485,000 $146,526 $2,345 2.90%
    $100,000 or less 236 $14,470,000 $61,314 $1,501 3.88%
    $200k-400k 156 $40,230,000 $257,885 $2,828 2.84%
    $400k-600k 6 $2,810,000 $468,333 $3,742 2.79%

    2020 saw Partners 1st Federal Credit Union place emphasis on $100k-200k loans with 249 originations, totaling $36,485,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 150 $14,320,000 $95,467 $2,078 3.28%
    $100k-150k 139 $23,915,000 $172,050 $2,237 3.24%
    $50k-75k 139 $17,445,000 $125,504 $2,127 3.21%
    $75k-100k 121 $18,655,000 $154,174 $2,347 3.25%
    $150k-250k 76 $16,480,000 $216,842 $2,487 3.17%
    $250k+ 4 $910,000 $227,500 $2,387 3.56%

    Partners 1st Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 150 originations. The second most popular income band? $100k-150k, with 139 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 202 $31,010,000 $153,515 $2,290 3.07%
    <20% 194 $21,370,000 $110,155 $1,720 3.75%
    30-36% 100 $16,770,000 $167,700 $2,532 3.00%
    36% 22 $3,740,000 $170,000 $2,485 2.89%
    37% 16 $3,360,000 $210,000 $2,596 2.91%
    40% 15 $1,925,000 $128,333 $2,114 3.26%
    42% 13 $2,765,000 $212,692 $2,641 2.80%
    41% 12 $2,230,000 $185,833 $2,813 2.95%
    39% 12 $1,680,000 $140,000 $2,378 2.90%
    46% 10 $1,700,000 $170,000 $2,537 3.20%
    38% 10 $1,210,000 $121,000 $2,426 3.14%
    45% 10 $1,340,000 $134,000 $2,196 2.96%
    44% 8 $1,330,000 $166,250 $2,673 2.70%
    43% 8 $1,120,000 $140,000 $2,001 2.95%
    47% 7 $1,035,000 $147,857 $2,290 2.68%
    48% 3 $675,000 $225,000 $3,035 3.08%
    49% 2 $210,000 $105,000 $2,520 3.50%
    50-60% 2 $330,000 $165,000 $1,898 4.25%
    >60% 1 $195,000 $195,000 $2,377 2.88%

    Partners 1st Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 202 originations. The next most common DTI ratio? <20%, with 194 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 558 $81,830,000 $146,649 $2,232 3.22%
    Not provided 63 $7,875,000 $125,000 $2,014 3.53%
    Black 22 $3,650,000 $165,909 $2,341 3.18%
    American Indian 1 $325,000 $325,000 $6,000 2.25%
    Asian 3 $315,000 $105,000 $1,981 2.71%

    Approval Rates

    Total approvals of all applications
    89.42%

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

    Pick Rate

    Approvals leading to origination
    83.00%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 647 $93,995,000 $145,278

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $295,000 $98,333
    Single Family (1-4 Units):Site-Built 644 $93,700,000 $145,497

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 69 $4,465,000 $64,710 $1,099 4.00%
    40-60% 120 $15,590,000 $129,917 $2,191 2.80%
    60-80% 254 $44,620,000 $175,669 $2,501 2.86%
    80-100% 148 $27,480,000 $185,676 $2,572 3.07%
    Under 20% 56 $1,840,000 $32,857 $268 5.44%