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 Home Purchase loans. First Heritage Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Elmira, Corning, Sayre, Rochester, and Pottsville among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Heritage 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. 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% 5/4/24
    30 Year Conventional Refi 6.21% 5/4/24
    30 Year Cash-out Refi 6.07% 5/4/24
    15 Year Conventional Purchase 5.69% 5/4/24
    15 Year Conventional Refi 5.60% 5/4/24
    15 Year Cash-out Refi 5.60% 5/4/24
    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

    594

    Origination Dollar Volume (All Markets)

    $58,080,000
    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
    Outside of Metro Areas 190 $18,590,000 $97,842 $968 4.23%
    ELMIRA, NY (FHA|USDA|VA) 216 $17,820,000 $82,500 $1,110 4.41%
    Corning, NY (FHA|USDA|VA) 156 $16,750,000 $107,372 $1,261 4.45%
    Sayre, PA (FHA|USDA|VA) 10 $1,630,000 $163,000 $1,887 4.43%
    ROCHESTER, NY (FHA|USDA|VA) 8 $1,290,000 $161,250 $1,629 4.34%
    Pottsville, PA (FHA|USDA|VA) 1 $445,000 $445,000 $4,692 4.38%
    WILLIAMSPORT, PA (FHA|USDA|VA) 3 $415,000 $138,333 $1,620 4.29%
    ITHACA, NY (FHA|USDA|VA) 2 $270,000 $135,000 $1,871 3.75%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $255,000 $255,000 $3,802 3.63%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $205,000 $205,000 $3,289 3.13%
    Cortland, NY (FHA|USDA|VA) 2 $170,000 $85,000 $1,874 4.18%
    Olean, NY (FHA|USDA|VA) 1 $85,000 $85,000 $3,102 2.88%
    Auburn, NY (FHA|USDA|VA) 1 $65,000 $65,000 $2,613 5.25%
    BINGHAMTON, NY (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.74%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 2.99%
    First Heritage Federal Credit Union's top markets include Elmira, Corning, Sayre, Rochester, and Pottsville 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.

    Elmira Savings Bank
    Similarity Rank: 33
    VISIONS
    Similarity Rank: 154
    FIRST HERITAGE FEDERAL CREDIT UNION
    Similarity Rank: 165
    Chemung Canal Trust Company
    Similarity Rank: 288
    The Lyons National Bank
    Similarity Rank: 288
    Five Star Bank
    Similarity Rank: 323
    Genesee Regional Bank
    Similarity Rank: 713
    1ST PRIORITY MORTGAGE, INC.
    Similarity Rank: 759
    PARAGON HOME LOANS INC.
    Similarity Rank: 1035
    Community Bank
    Similarity Rank: 1152

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 594 $58,080,000 $97,778 $1,145 4.35%

    For 2022, First Heritage Federal Credit Union's most frequently originated type of loan was Conventional, with 594 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 222 $29,020,000 $130,721 $2,581 4.72%
    Other 119 $7,315,000 $61,471 $4 4.20%
    Home Improvement 102 $4,540,000 $44,510 $0 4.17%
    Refi 81 $6,965,000 $85,988 $481 3.90%
    Cash Out Refi 70 $10,240,000 $146,286 $2,550 4.22%

    For 2022, First Heritage Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 222 originations. The 2nd most popular reason was Other, with 119 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 235 $23,415,000 $99,638 $724 4.61%
    30 Year 154 $23,730,000 $154,091 $2,751 4.47%
    10 Year 103 $5,395,000 $52,379 $0 4.07%
    5 Year 73 $2,105,000 $28,836 $0 3.74%
    20 Year 26 $3,320,000 $127,692 $2,655 4.14%
    Other 3 $115,000 $38,333 $0 4.24%

    For 2022, First Heritage Federal Credit Union's most frequently cited loan duration was 15 Year, with 235 originations. The 2nd most popular length was 30 Year, with 154 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 500 $48,590,000 $97,180
    $1k-2k 4 $930,000 $232,500

    First Heritage Federal Credit Union's average total fees were $2,751, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 500 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 209 $19,105,000 $91,411
    4-5% 183 $18,455,000 $100,847
    5-6% 89 $10,155,000 $114,101
    2.5-3% 60 $4,570,000 $76,167
    6-7% 32 $3,300,000 $103,125
    7-8% 11 $1,095,000 $99,545
    <2.5% 10 $1,400,000 $140,000

    During 2022, First Heritage Federal Credit Union's average interest rate for loans was 4.47%, while their most frequently originated rate bucket for loans was 3-4%, with 209 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 388 $20,130,000 $51,881 $526 4.33%
    $100k-200k 145 $20,825,000 $143,621 $1,943 4.35%
    $200k-400k 56 $14,220,000 $253,929 $2,743 4.51%
    $400k-600k 3 $1,415,000 $471,667 $3,934 4.88%
    $600k-1MM 2 $1,490,000 $745,000 $3,038 3.81%

    2022 saw First Heritage Federal Credit Union place emphasis on $100,000 or less loans with 388 originations, totaling $20,130,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 137 $12,515,000 $91,350 $1,154 4.18%
    $100k-150k 127 $13,455,000 $105,945 $1,047 4.23%
    $75k-100k 106 $9,630,000 $90,849 $1,072 4.16%
    $50k or less 102 $6,730,000 $65,980 $1,133 4.25%
    $150k-250k 45 $6,485,000 $144,111 $1,388 4.30%
    $250k+ 9 $1,805,000 $200,556 $1,515 3.86%

    First Heritage Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 137 originations. The second most popular income band? $100k-150k, with 127 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 147 $13,875,000 $94,388 $1,180 4.17%
    30-36% 109 $10,885,000 $99,862 $1,270 4.17%
    <20% 80 $6,020,000 $75,250 $909 4.35%
    50-60% 21 $1,945,000 $92,619 $923 4.28%
    >60% 19 $2,775,000 $146,053 $1,823 4.62%
    44% 18 $1,610,000 $89,444 $933 3.78%
    41% 16 $1,840,000 $115,000 $1,318 4.44%
    37% 14 $1,530,000 $109,286 $1,538 4.39%
    36% 14 $1,430,000 $102,143 $1,163 4.58%
    40% 14 $1,450,000 $103,571 $601 3.97%
    39% 13 $985,000 $75,769 $1,019 4.00%
    46% 12 $1,030,000 $85,833 $517 4.02%
    45% 11 $1,545,000 $140,455 $915 4.18%
    42% 11 $1,385,000 $125,909 $1,677 4.19%
    43% 11 $975,000 $88,636 $1,457 3.86%
    47% 10 $780,000 $78,000 $993 3.62%
    38% 9 $875,000 $97,222 $979 4.66%
    48% 5 $775,000 $155,000 $1,712 4.57%
    49% 1 $95,000 $95,000 $0 4.74%

    First Heritage Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 147 originations. The next most common DTI ratio? 30-36%, with 109 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 510 $48,360,000 $94,824 $1,069 4.21%
    Not applicable 56 $5,910,000 $105,536 $0 5.64%
    Not provided 18 $2,440,000 $135,556 $2,532 4.19%
    Asian 5 $785,000 $157,000 $2,728 4.25%
    Black 5 $585,000 $117,000 $2,341 4.60%

    Approval Rates

    Total approvals of all applications
    90.29%

    First Heritage Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.31%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 594 $58,080,000 $97,778

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    594 $58,080,000 $97,778

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 104 $6,140,000 $59,038 $195 4.24%
    40-60% 80 $7,940,000 $99,250 $790 4.30%
    60-80% 169 $21,655,000 $128,136 $1,795 4.61%
    80-100% 137 $19,025,000 $138,869 $2,516 4.44%
    Over 100% 2 $350,000 $175,000 $0 5.50%
    Under 20% 102 $2,970,000 $29,118 $0 3.94%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST GUARANTY MORTGAGE CORP Conventional home mortgage Struggling to pay mortgage 1 100.0%