Lanco Federal Credit Union Mortgage Rates, Fees & Info
Lancaster, PALEI: 549300FK7ZHTO2G1RM11
Tax ID: 23-1733157
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Lanco Federal Credit Union is a smaller credit union specializing in Home Improvement, Refi, and Home Purchase loans. Lanco Federal Credit Union has a high proportion of conventional loans. Their top two markets are Lancaster and Harrisburg .Lanco Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.
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Originations
39Origination Dollar Volume (All Markets)
$2,945,000Top 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 |
|---|---|---|---|---|---|
| LANCASTER, PA (FHA|USDA|VA) | 38 | $2,900,000 | $76,316 | $0 | 0.00% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 39 | $2,945,000 | $75,513 | $0 | 0.00% |
For 2024, Lanco Federal Credit Union's most frequently originated type of loan was Conventional, with 39 originations.
Loan Reason
For 2024, Lanco Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 19 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 39 | $2,945,000 | $75,513 | $0 | 0.00% |
For 2024, Lanco Federal Credit Union's most frequently cited loan duration was Other, with 39 originations.
Loan Sizing
2024 saw Lanco Federal Credit Union place emphasis on $100,000 or less loans with 31 originations, totaling $1,405,000 in origination value.
Applicant Income
Lanco Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $50k-75k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 39 | $2,945,000 | $75,513 | $0 | 0.00% |
Lanco Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 39 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not provided | 25 | $1,575,000 | $63,000 | $0 | 0.00% |
| White | 14 | $1,370,000 | $97,857 | $0 | 0.00% |
Approval Rates
Total approvals of all applications86.00%
Lanco Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination94.87%
Lanco Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 39 | $2,945,000 | $75,513 |