Belco Community Credit Union Mortgage Rates, Fees & Info
Harrisburg, PALEI: 549300JBMMNIOX7XU115
Tax ID: 23-1445884
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Mortgage Data
Review & Overview
Belco Community Credit Union is a smaller credit union specializing in Home Improvement, Refi, and Home Purchase 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 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Belco Community Credit Union has an 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 a low 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 about average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.07% | 11/21/24 |
| 30 Year Conventional Purchase | 6.73% | 11/21/24 |
| 30 Year Conventional Refi | 6.77% | 11/21/24 |
| 30 Year Cash-out Refi | 6.65% | 11/21/24 |
| 30 Year FHA Purchase | 7.12% | 11/21/24 |
| 30 Year FHA Refi | 6.27% | 11/21/24 |
| 30 Year VA Purchase | 6.87% | 11/21/24 |
| 30 Year USDA Purchase | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 6.13% | 11/21/24 |
| 15 Year Conventional Refi | 5.74% | 11/21/24 |
| 15 Year Cash-out Refi | 5.74% | 11/21/24 |
| 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
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This is not an official calculator from Belco Community Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
277Origination Dollar Volume (All Markets)
$18,805,000Top 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 |
|---|---|---|---|---|---|
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 100 | $7,780,000 | $77,800 | $5,371 | 0.49% |
| LANCASTER, PA (FHA|USDA|VA) | 85 | $5,365,000 | $63,118 | $3,803 | 0.64% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 21 | $1,675,000 | $79,762 | $4,497 | 1.37% |
| GETTYSBURG, PA (FHA|USDA|VA) | 20 | $1,470,000 | $73,500 | $3,566 | 1.00% |
| Outside of Metro Areas | 28 | $1,380,000 | $49,286 | $0 | 0.05% |
| LEBANON, PA (FHA|USDA|VA) | 13 | $385,000 | $29,615 | $0 | 0.05% |
| Pottsville, PA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $9,045 | 1.65% |
| READING, PA (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 0.06% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,432 | 4.88% |
| Sunbury, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,189 | 4.38% |
| Huntingdon, PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.06% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.05% |
| Meadville, PA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.06% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.06% |
Their top states include:
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 274 | $18,370,000 | $67,044 | $4,440 | 0.56% |
| VA | 3 | $435,000 | $145,000 | $4,507 | 4.38% |
For 2018, Belco Community Credit Union's most frequently originated type of loan was Conventional, with 274 originations. Their 2nd most popular type was VA, with 3 originations.
Loan Reason
For 2018, Belco Community Credit Union's most frequently cited loan purpose was Home Improvement, with 106 originations. The 2nd most popular reason was Refi, with 100 originations.
Loan Duration/Length
For 2018, Belco Community Credit Union's most frequently cited loan duration was 15 Year, with 86 originations. The 2nd most popular length was 10 Year, with 82 originations.
Origination Fees/Closing Costs
Belco Community Credit Union's average total fees were $4,500, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 255 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 243 | $13,205,000 | $54,342 |
| 4-5% | 27 | $4,285,000 | $158,704 |
| 3-4% | 4 | $800,000 | $200,000 |
| 5-6% | 3 | $515,000 | $171,667 |
During 2018, Belco Community Credit Union's average interest rate for loans was 4.73%, while their most frequently originated rate bucket for loans was <2.5%, with 243 originations.
Loan Sizing
2018 saw Belco Community Credit Union place emphasis on $100,000 or less loans with 219 originations, totaling $8,595,000 in origination value.
Applicant Income
Belco Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 72 originations. The second most popular income band? $100k-150k, with 68 originations.
Applicant Debt to Income Ratio
Belco Community Credit Union lent most frequently to those with DTI ratios of <20%, with 245 originations. The next most common DTI ratio? 20-30%, with 11 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.35%
Belco Community Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination62.82%
Belco Community Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 277 | $18,805,000 | $67,888 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 277 | $18,805,000 | $67,888 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Blue Sky Capital Realty, Inc. | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |