Westmoreland Federal Savings Mortgage Rates, Fees & Info

Latrobe, PA

LEI: 549300I1IE35O2I0WT71

Tax ID: 25-0988279

Latest/2024 | 2023 Data | 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 two markets are Pittsburgh and Indiana .

    Westmoreland Federal Savings 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.

    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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    Originations

    38

    Origination Dollar Volume (All Markets)

    $5,260,000

    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) 37 $5,155,000 $139,324 $0 0.00%
    Indiana, PA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Westmoreland Federal Savings's top markets include Pittsburgh and Indiana 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: 68
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 88
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 105
    Sail Mortgage Corp.
    Similarity Rank: 213
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 304
    Washington Financial Bank
    Similarity Rank: 380
    SOMERSET TRUST COMPANY
    Similarity Rank: 418
    State Financial Network, LLC
    Similarity Rank: 816
    1st Summit Bank
    Similarity Rank: 980
    Mid-Continent Funding, Inc.
    Similarity Rank: 1421

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 38 $5,260,000 $138,421 $0 0.00%

    For 2024, Westmoreland Federal Savings's most frequently originated type of loan was Conventional, with 38 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 16 $3,700,000 $231,250 $0 0.00%
    Home Improvement 9 $335,000 $37,222 $0 0.00%
    Other 9 $735,000 $81,667 $0 0.00%
    Refi 4 $490,000 $122,500 $0 0.00%

    For 2024, Westmoreland Federal Savings's most frequently cited loan purpose was Home Purchase, with 16 originations. The 2nd most popular reason was Home Improvement, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 38 $5,260,000 $138,421 $0 0.00%

    For 2024, Westmoreland Federal Savings's most frequently cited loan duration was Other, with 38 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 19 $835,000 $43,947 $0 0.00%
    $100k-200k 10 $1,360,000 $136,000 $0 0.00%
    $200k-400k 8 $2,510,000 $313,750 $0 0.00%
    $400k-600k 1 $555,000 $555,000 $0 0.00%

    2024 saw Westmoreland Federal Savings place emphasis on $100,000 or less loans with 19 originations, totaling $835,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 15 $2,385,000 $159,000 $0 0.00%
    $75k-100k 7 $885,000 $126,429 $0 0.00%
    $50k or less 6 $390,000 $65,000 $0 0.00%
    $150k-250k 5 $705,000 $141,000 $0 0.00%
    $50k-75k 4 $340,000 $85,000 $0 0.00%
    $250k+ 1 $555,000 $555,000 $0 0.00%

    Westmoreland Federal Savings lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $75k-100k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 38 $5,260,000 $138,421 $0 0.00%

    Westmoreland Federal Savings lent most frequently to those with DTI ratios of Exempt%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 34 $4,620,000 $135,882 $0 0.00%
    American Indian 1 $325,000 $325,000 $0 0.00%
    Not provided 2 $200,000 $100,000 $0 0.00%
    Asian 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.83%

    Westmoreland Federal Savings has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    89.47%

    Westmoreland Federal Savings has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 38 $5,260,000 $138,421

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    38 $5,260,000 $138,421