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

Jump to:

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.

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

68

Origination Dollar Volume (All Markets)

$12,470,000

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) 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%
Westmoreland Federal Savings's top markets include Pittsburgh, Indiana, and Somerset 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: 78
    InFirst Bank
    Similarity Rank: 480
    1st Summit Bank
    Similarity Rank: 729
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 861
    Community Bank
    Similarity Rank: 928
    Washington Financial Bank
    Similarity Rank: 1100

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 36 $6,850,000 $190,278 $0 0.00%
    Refi 21 $4,485,000 $213,571 $0 0.00%
    Home Improvement 6 $360,000 $60,000 $0 0.00%
    Other 5 $775,000 $155,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 31 $4,375,000 $141,129 $0 0.00%
    $200k-400k 19 $5,655,000 $297,632 $0 0.00%
    $100,000 or less 15 $915,000 $61,000 $0 0.00%
    $400k-600k 2 $820,000 $410,000 $0 0.00%
    $600k-1MM 1 $705,000 $705,000 $0 0.00%

    2022 saw Westmoreland Federal Savings place emphasis on $100k-200k loans with 31 originations, totaling $4,375,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 18 $3,860,000 $214,444 $0 0.00%
    $75k-100k 15 $2,725,000 $181,667 $0 0.00%
    $150k-250k 13 $3,195,000 $245,769 $0 0.00%
    $50k or less 11 $955,000 $86,818 $0 0.00%
    $50k-75k 9 $925,000 $102,778 $0 0.00%
    $250k+ 2 $810,000 $405,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 63 $11,165,000 $177,222 $0 0.00%
    Asian 2 $720,000 $360,000 $0 0.00%
    Not provided 2 $490,000 $245,000 $0 0.00%
    American Indian 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.15%

    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 origination
    94.12%

    Westmoreland Federal Savings has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 68 $12,470,000 $183,382

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    68 $12,470,000 $183,382