Belco Community Credit Union Mortgage Rates, Fees & Info

Harrisburg, PA

LEI: 549300JBMMNIOX7XU115

Tax ID: 23-1445884

5 stars - Updated: 5/26/24 - out of 5 stars, based on 24 reviews

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

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Mortgage Data

Review & Overview

Belco Community Credit Union is a smaller credit union specializing in Home Improvement, Other, and Refi loans. Belco Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Harrisburg, Lancaster, York, Gettysburg, and Lebanon among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

Belco Community Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Belco Community Credit Union is typically an average 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 relatively high 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.

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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 5.07% 5/26/24
30 Year Conventional Purchase 6.73% 5/26/24
30 Year Conventional Refi 6.77% 5/26/24
30 Year Cash-out Refi 6.65% 5/26/24
30 Year FHA Purchase 7.12% 5/26/24
30 Year FHA Refi 6.27% 5/26/24
30 Year VA Purchase 6.87% 5/26/24
30 Year USDA Purchase 6.27% 5/26/24
15 Year Conventional Purchase 6.13% 5/26/24
15 Year Conventional Refi 5.74% 5/26/24
15 Year Cash-out Refi 5.74% 5/26/24
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.

Belco Community Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Belco Community 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

564

Origination Dollar Volume (All Markets)

$44,960,000

Relative Rate

Belco Community Credit Union's average 30 year fixed mortgage rate was 6.9%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.42%.

Relative Fees (Closing Costs)

Belco Community Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $6,488.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 203 $16,135,000 $79,483 $977 7.15%
LANCASTER, PA (FHA|USDA|VA) 186 $14,900,000 $80,108 $440 7.06%
YORK-HANOVER, PA (FHA|USDA|VA) 58 $4,500,000 $77,586 $502 7.32%
GETTYSBURG, PA (FHA|USDA|VA) 52 $3,610,000 $69,423 $315 7.32%
LEBANON, PA (FHA|USDA|VA) 26 $1,630,000 $62,692 $0 7.14%
Outside of Metro Areas 7 $655,000 $93,571 $3,185 7.36%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 6 $610,000 $101,667 $1,296 7.24%
READING, PA (FHA|USDA|VA) 7 $545,000 $77,857 $7,318 7.82%
Palatka, FL (FHA|USDA|VA) 1 $425,000 $425,000 $7,459 7.63%
Pottsville, PA (FHA|USDA|VA) 4 $400,000 $100,000 $2,817 6.84%
PITTSBURGH, PA (FHA|USDA|VA) 2 $350,000 $175,000 $7,086 7.31%
Selinsgrove, PA (FHA|USDA|VA) 1 $305,000 $305,000 $0 7.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $300,000 $75,000 $1,986 6.90%
Augusta-Waterville, ME (FHA|USDA|VA) 1 $295,000 $295,000 $6,828 7.38%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.25%
Huntingdon, PA (FHA|USDA|VA) 1 $65,000 $65,000 $0 9.49%
Meadville, PA (FHA|USDA|VA) 1 $55,000 $55,000 $1,188 7.74%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.74%
JOHNSTOWN, PA (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.95%
Sunbury, PA (FHA|USDA|VA) 1 $5,000 $5,000 $0 7.00%
Belco Community Credit Union's top markets include Harrisburg, Lancaster, York, Gettysburg, and Lebanon among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • Similar Lenders

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

    Foote Capital Mortgage Company
    Similarity Rank: 564
    BELCO COMMUNITY CREDIT UNION
    Similarity Rank: 1400
    Homesale Mortgage, LLC
    Similarity Rank: 1728
    S&T Bank
    Similarity Rank: 1782
    Orrstown Bank
    Similarity Rank: 2077
    MEMBERS 1ST FEDERAL CREDIT UNION
    Similarity Rank: 2623
    The Ephrata National Bank
    Similarity Rank: 2646
    MidAtlantic Farm Credit, ACA
    Similarity Rank: 3330

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 336 $29,030,000 $86,399 n/a 7.46%
    Conventional 228 $15,930,000 $69,868 $808 6.74%

    For 2023, Belco Community Credit Union's most frequently originated type of loan was HELOC, with 336 originations. Their 2nd most popular type was Conventional, with 228 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 226 $15,920,000 $70,442 $17 7.13%
    Other 191 $13,245,000 $69,346 $15 7.26%
    Refi 118 $10,540,000 $89,322 $585 7.16%
    Home Purchase 29 $5,255,000 $181,207 $5,917 6.88%

    For 2023, Belco Community Credit Union's most frequently cited loan purpose was Home Improvement, with 226 originations. The 2nd most popular reason was Other, with 191 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 336 $29,030,000 $86,399 $0 7.46%
    10 Year 82 $4,100,000 $50,000 $15 6.56%
    15 Year 65 $4,715,000 $72,538 $159 7.18%
    30 Year 28 $5,390,000 $192,500 $6,488 6.90%
    5 Year 28 $720,000 $25,714 $0 6.26%
    Other 24 $980,000 $40,833 $0 6.57%
    3 Year 1 $25,000 $25,000 $0 6.24%

    For 2023, Belco Community Credit Union's most frequently cited loan duration was 20 Year, with 336 originations. The 2nd most popular length was 10 Year, with 82 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 195 $9,975,000 $51,154
    $2k-3k 9 $1,295,000 $143,889
    $3k-4k 8 $1,920,000 $240,000
    $1k-2k 5 $365,000 $73,000
    $4k-5k 3 $985,000 $328,333
    $5k+ 3 $915,000 $305,000

    Belco Community Credit Union's average total fees were $6,488, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 195 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 234 $15,280,000 $65,299
    7-8% 232 $21,780,000 $93,879
    Over 8% 89 $6,995,000 $78,596
    5-6% 9 $905,000 $100,556

    During 2023, Belco Community Credit Union's average interest rate for loans was 6.90%, while their most frequently originated rate bucket for loans was 6-7%, with 234 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 424 $21,150,000 $49,882 $145 7.10%
    $100k-200k 107 $14,395,000 $134,533 $2,203 7.39%
    $200k-400k 29 $7,535,000 $259,828 $7,234 7.26%
    $400k-600k 4 $1,880,000 $470,000 $7,459 7.34%

    2023 saw Belco Community Credit Union place emphasis on $100,000 or less loans with 424 originations, totaling $21,150,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 171 $14,145,000 $82,719 $519 7.16%
    $50k-75k 122 $8,250,000 $67,623 $1,033 7.10%
    $150k-250k 106 $10,350,000 $97,642 $390 7.37%
    $75k-100k 102 $7,070,000 $69,314 $891 7.18%
    $50k or less 46 $2,650,000 $57,609 $1,590 6.80%
    $250k+ 15 $2,285,000 $152,333 $0 7.40%

    Belco Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 171 originations. The second most popular income band? $50k-75k, with 122 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 150 $10,750,000 $71,667 $177 7.24%
    30-36% 119 $9,485,000 $79,706 $867 7.15%
    <20% 60 $4,270,000 $71,167 $532 7.01%
    36% 28 $2,630,000 $93,929 $1,449 7.37%
    38% 23 $1,175,000 $51,087 $0 7.22%
    44% 21 $1,475,000 $70,238 $854 6.88%
    42% 20 $1,700,000 $85,000 $0 7.27%
    41% 20 $1,790,000 $89,500 $891 7.20%
    37% 18 $1,350,000 $75,000 $687 7.32%
    39% 16 $1,750,000 $109,375 $1,178 7.11%
    48% 14 $1,340,000 $95,714 $984 7.08%
    40% 13 $915,000 $70,385 $0 7.15%
    46% 13 $1,505,000 $115,769 $2,565 7.32%
    47% 12 $1,070,000 $89,167 $3,301 7.13%
    43% 12 $1,020,000 $85,000 $1,484 7.17%
    45% 9 $495,000 $55,000 $0 6.94%
    49% 8 $660,000 $82,500 $1,573 6.92%
    50-60% 6 $1,300,000 $216,667 $4,238 7.06%

    Belco Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 150 originations. The next most common DTI ratio? 30-36%, with 119 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 477 $36,595,000 $76,719 $522 7.19%
    Not provided 49 $5,605,000 $114,388 $3,481 7.04%
    Black 25 $1,765,000 $70,600 $0 7.12%
    Asian 4 $310,000 $77,500 $2,854 6.62%
    Not applicable 2 $210,000 $105,000 $0 7.38%
    Other Pacific Islander 3 $195,000 $65,000 $0 6.91%
    Other Asian 2 $130,000 $65,000 $0 6.24%
    American Indian 1 $95,000 $95,000 $0 7.00%
    Native Hawaiian or Islander 1 $55,000 $55,000 $0 6.24%

    Approval Rates

    Total approvals of all applications
    56.06%

    Belco Community Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    84.57%

    Belco Community Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 564 $44,960,000 $79,716

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    564 $44,960,000 $79,716

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 196 $16,270,000 $83,010 $240 7.28%
    40-60% 52 $6,750,000 $129,808 $1,296 7.44%
    60-80% 38 $7,650,000 $201,316 $5,364 7.14%
    80-100% 17 $3,695,000 $217,353 $6,165 7.28%
    Under 20% 261 $10,595,000 $40,594 $28 7.02%