First Heritage Federal Credit Union Mortgage Rates, Fees & Info

Painted Post, NY

LEI: 549300H0B8QZSS10X971

Tax ID: 16-0802201

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
  • Complaints
  • 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

    First Heritage Federal Credit Union is a smaller credit union specializing in Refi, Other, and Home Purchase loans. First Heritage Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Elmira, Corning, Binghamton, Sayre, and Buffalo among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Heritage 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. First Heritage 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
    30 Year Conventional Purchase 6.22% 12/16/24
    30 Year Conventional Refi 6.21% 12/16/24
    30 Year Cash-out Refi 6.07% 12/16/24
    15 Year Conventional Purchase 5.69% 12/16/24
    15 Year Conventional Refi 5.60% 12/16/24
    15 Year Cash-out Refi 5.60% 12/16/24
    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.

    First Heritage 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 First Heritage 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

    363

    Origination Dollar Volume (All Markets)

    $25,575,000
    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
    ELMIRA, NY (FHA|USDA|VA) 160 $9,880,000 $61,750 $363 4.11%
    Outside of Metro Areas 108 $9,170,000 $84,907 $431 4.29%
    Corning, NY (FHA|USDA|VA) 75 $4,645,000 $61,933 $569 4.20%
    BINGHAMTON, NY (FHA|USDA|VA) 3 $745,000 $248,333 $0 4.41%
    Sayre, PA (FHA|USDA|VA) 9 $645,000 $71,667 $289 4.19%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $135,000 $135,000 $2,427 4.50%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $115,000 $115,000 $2,684 4.13%
    WILLIAMSPORT, PA (FHA|USDA|VA) 2 $110,000 $55,000 $0 4.37%
    ROCHESTER, NY (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.49%
    ITHACA, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.75%
    SYRACUSE, NY (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.99%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 1 $15,000 $15,000 $0 3.24%
    First Heritage Federal Credit Union's top markets include Elmira, Corning, Binghamton, Sayre, and Buffalo among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against FIRST HERITAGE FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    VISIONS
    Similarity Rank: 50
    Five Star Bank
    Similarity Rank: 78
    FIRST HERITAGE FEDERAL CREDIT UNION
    Similarity Rank: 96
    Chemung Canal Trust Company
    Similarity Rank: 119
    Citizens & Northern Bank
    Similarity Rank: 345
    Elmira Savings Bank
    Similarity Rank: 350
    Community Bank
    Similarity Rank: 414
    PARAGON HOME LOANS INC.
    Similarity Rank: 600
    CORNING
    Similarity Rank: 1764
    LAND HOME FINANCIAL SERVICES, INC.
    Similarity Rank: 3140

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 363 $25,575,000 $70,455 $431 4.19%

    For 2018, First Heritage Federal Credit Union's most frequently originated type of loan was Conventional, with 363 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 128 $11,170,000 $87,266 $252 4.31%
    Other 96 $5,140,000 $53,542 $0 4.03%
    Home Improvement 68 $2,070,000 $30,441 $0 3.87%
    Home Purchase 64 $6,870,000 $107,344 $2,049 4.47%
    Cash Out Refi 7 $325,000 $46,429 $1,980 4.95%

    For 2018, First Heritage Federal Credit Union's most frequently cited loan purpose was Refi, with 128 originations. The 2nd most popular reason was Other, with 96 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 122 $10,790,000 $88,443 $286 4.76%
    5 Year 94 $2,950,000 $31,383 $0 3.35%
    10 Year 85 $4,775,000 $56,176 $5 4.13%
    30 Year 42 $5,570,000 $132,619 $2,362 4.46%
    Other 13 $665,000 $51,154 $0 4.40%
    20 Year 7 $825,000 $117,857 $2,235 4.25%

    For 2018, First Heritage Federal Credit Union's most frequently cited loan duration was 15 Year, with 122 originations. The 2nd most popular length was 5 Year, with 94 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 332 $22,210,000 $66,898

    First Heritage Federal Credit Union's average total fees were $2,362, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 332 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 159 $13,915,000 $87,516
    3-4% 147 $7,515,000 $51,122
    5-6% 36 $3,290,000 $91,389
    2.5-3% 16 $550,000 $34,375
    6-7% 4 $250,000 $62,500
    7-8% 1 $55,000 $55,000

    During 2018, First Heritage Federal Credit Union's average interest rate for loans was 4.46%, while their most frequently originated rate bucket for loans was 4-5%, with 159 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 286 $12,890,000 $45,070 $224 4.11%
    $100k-200k 61 $8,005,000 $131,230 $1,178 4.45%
    $200k-400k 14 $3,610,000 $257,857 $1,447 4.66%
    $400k-600k 1 $405,000 $405,000 $4,044 5.00%
    $600k-1MM 1 $665,000 $665,000 $0 5.75%

    2018 saw First Heritage Federal Credit Union place emphasis on $100,000 or less loans with 286 originations, totaling $12,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 106 $6,450,000 $60,849 $368 4.19%
    $50k or less 82 $4,120,000 $50,244 $433 4.24%
    $75k-100k 74 $5,290,000 $71,486 $518 4.24%
    $100k-150k 67 $5,355,000 $79,925 $312 4.06%
    $150k-250k 17 $1,785,000 $105,000 $704 3.89%
    $250k+ 7 $1,385,000 $197,857 $691 4.33%

    First Heritage Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 106 originations. The second most popular income band? $50k or less, with 82 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 118 $7,920,000 $67,119 $534 4.08%
    30-36% 68 $4,430,000 $65,147 $222 4.07%
    <20% 47 $3,025,000 $64,362 $662 4.24%
    36% 19 $1,205,000 $63,421 $396 4.20%
    39% 16 $710,000 $44,375 $272 4.02%
    50-60% 15 $1,545,000 $103,000 $628 4.85%
    40% 15 $815,000 $54,333 $195 3.80%
    37% 12 $990,000 $82,500 $221 4.16%
    >60% 9 $1,395,000 $155,000 $388 5.14%
    42% 7 $475,000 $67,857 $0 4.53%
    38% 7 $535,000 $76,429 $0 4.28%
    41% 6 $340,000 $56,667 $573 4.10%
    44% 5 $575,000 $115,000 $1,216 4.55%
    43% 4 $340,000 $85,000 $1,075 4.15%
    47% 3 $235,000 $78,333 $0 4.83%
    46% 3 $235,000 $78,333 $0 4.32%
    45% 3 $265,000 $88,333 $930 4.16%
    48% 2 $110,000 $55,000 $0 4.12%
    49% 2 $160,000 $80,000 $2,605 4.88%

    First Heritage Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 118 originations. The next most common DTI ratio? 30-36%, with 68 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 353 $24,685,000 $69,929 $432 4.19%
    Not applicable 4 $620,000 $155,000 $0 5.38%
    Black 2 $110,000 $55,000 $0 3.62%
    Asian 2 $70,000 $35,000 $1,025 3.68%
    Native Hawaiian or Islander 1 $65,000 $65,000 $0 3.24%
    Not provided 1 $25,000 $25,000 $0 3.49%

    Approval Rates

    Total approvals of all applications
    81.01%

    First Heritage Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    71.90%

    First Heritage Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 363 $25,575,000 $70,455

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $55,000 $55,000
    Single Family (1-4 Units):Site-Built 362 $25,520,000 $70,497

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 92 $4,290,000 $46,630 $90 3.96%
    40-60% 54 $3,110,000 $57,593 $316 4.32%
    60-80% 88 $10,050,000 $114,205 $841 4.44%
    80-100% 57 $6,345,000 $111,316 $1,151 4.50%
    Over 100% 1 $105,000 $105,000 $0 6.25%
    Under 20% 71 $1,675,000 $23,592 $0 3.81%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    First Technology Federal Credit Union Other type of mortgage Trouble during payment process 1 50.0%
    First Technology Federal Credit Union Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%