Westmoreland Federal Savings Mortgage Rates, Fees & Info

Latrobe, PA

LEI: 549300I1IE35O2I0WT71

Tax ID: 25-0988279

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

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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

    Westmoreland Federal Savings is a smaller mortgage company specializing in Home Purchase loans. Westmoreland Federal Savings has a high proportion of conventional loans. Their top (well, only) market is Pittsburgh.

    Westmoreland Federal Savings has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

    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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    42

    Origination Dollar Volume (All Markets)

    $6,180,000

    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
    PITTSBURGH, PA (FHA|USDA|VA) 42 $6,180,000 $147,143 $0 0.00%
    Westmoreland Federal Savings's top markets include and Pittsburgh among others.

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

    • Similar Lenders

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

    TRI BORO
    Similarity Rank: 24
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 77
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 128
    InFirst Bank
    Similarity Rank: 300
    AmeriServ Financial Bank
    Similarity Rank: 384
    Washington Financial Bank
    Similarity Rank: 510
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 570
    Community Bank
    Similarity Rank: 572
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 572
    1st Summit Bank
    Similarity Rank: 1026

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 42 $6,180,000 $147,143 $0 0.00%

    For 2023, Westmoreland Federal Savings's most frequently originated type of loan was Conventional, with 42 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 30 $5,420,000 $180,667 $0 0.00%
    Home Improvement 6 $390,000 $65,000 $0 0.00%
    Refi 5 $355,000 $71,000 $0 0.00%
    Other 1 $15,000 $15,000 $0 0.00%

    For 2023, Westmoreland Federal Savings's most frequently cited loan purpose was Home Purchase, with 30 originations. The 2nd most popular reason was Home Improvement, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 42 $6,180,000 $147,143 $0 0.00%

    For 2023, Westmoreland Federal Savings's most frequently cited loan duration was Other, with 42 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 15 $635,000 $42,333 $0 0.00%
    $100k-200k 15 $2,045,000 $136,333 $0 0.00%
    $200k-400k 10 $2,670,000 $267,000 $0 0.00%
    $400k-600k 2 $830,000 $415,000 $0 0.00%

    2023 saw Westmoreland Federal Savings place emphasis on $100,000 or less loans with 15 originations, totaling $635,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 13 $2,425,000 $186,538 $0 0.00%
    $50k-75k 9 $865,000 $96,111 $0 0.00%
    $150k-250k 8 $1,860,000 $232,500 $0 0.00%
    $50k or less 5 $205,000 $41,000 $0 0.00%
    $75k-100k 3 $425,000 $141,667 $0 0.00%
    $250k+ 2 $360,000 $180,000 $0 0.00%

    Westmoreland Federal Savings lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $50k-75k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 42 $6,180,000 $147,143 $0 0.00%

    Westmoreland Federal Savings lent most frequently to those with DTI ratios of Exempt%, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 40 $5,540,000 $138,500 $0 0.00%
    Asian 1 $365,000 $365,000 $0 0.00%
    Not provided 1 $275,000 $275,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.88%

    Westmoreland Federal Savings has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.86%

    Westmoreland Federal Savings has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 42 $6,180,000 $147,143

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    42 $6,180,000 $147,143