Westmoreland Federal Savings Mortgage Rates, Fees & Info
Latrobe, PALEI: 549300I1IE35O2I0WT71
Tax ID: 25-0988279
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Mortgage Data
Review & Overview
Westmoreland Federal Savings is a smaller mortgage company specializing in Home Purchase and Refi loans. Westmoreland Federal Savings has a high proportion of conventional loans. Their top markets by origination volume include: Pittsburgh, Indiana, and Somerset among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)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.
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Originations
68Origination Dollar Volume (All Markets)
$12,470,000Top 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 |
|---|---|---|---|---|---|
| PITTSBURGH, PA (FHA|USDA|VA) | 66 | $12,090,000 | $183,182 | $0 | 0.00% |
| Indiana, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Somerset, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
Their top states include:
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 68 | $12,470,000 | $183,382 | $0 | 0.00% |
For 2022, Westmoreland Federal Savings's most frequently originated type of loan was Conventional, with 68 originations.
Loan Reason
For 2022, Westmoreland Federal Savings's most frequently cited loan purpose was Home Purchase, with 36 originations. The 2nd most popular reason was Refi, with 21 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 68 | $12,470,000 | $183,382 | $0 | 0.00% |
For 2022, Westmoreland Federal Savings's most frequently cited loan duration was Other, with 68 originations.
Loan Sizing
2022 saw Westmoreland Federal Savings place emphasis on $100k-200k loans with 31 originations, totaling $4,375,000 in origination value.
Applicant Income
Westmoreland Federal Savings lent most frequently to those with incomes in the $100k-150k range, with 18 originations. The second most popular income band? $75k-100k, with 15 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 68 | $12,470,000 | $183,382 | $0 | 0.00% |
Westmoreland Federal Savings lent most frequently to those with DTI ratios of Exempt%, with 68 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.15%
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 origination94.12%
Westmoreland Federal Savings has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 68 | $12,470,000 | $183,382 |