Belco Community Credit Union Mortgage Rates, Fees & Info

Harrisburg, PA

LEI: 549300JBMMNIOX7XU115

Tax ID: 23-1445884

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Belco Community Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Belco Community Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Harrisburg, Lancaster, Gettysburg, York, and Lebanon among others. We have data for 11 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 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 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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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






    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

    183

    Origination Dollar Volume (All Markets)

    $22,725,000

    Awards

    BELCO COMMUNITY CREDIT UNION 30 Year Conventional Loans silver BELCO COMMUNITY CREDIT UNION 30 Year Conventional Loans gold BELCO COMMUNITY CREDIT UNION 30 Year Conventional Loans gold
    Show all (3) awards

    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) 71 $9,975,000 $140,493 $3,774 3.28%
    LANCASTER, PA (FHA|USDA|VA) 56 $7,130,000 $127,321 $3,671 3.26%
    GETTYSBURG, PA (FHA|USDA|VA) 20 $2,180,000 $109,000 $3,835 3.41%
    YORK-HANOVER, PA (FHA|USDA|VA) 18 $1,820,000 $101,111 $2,614 3.43%
    LEBANON, PA (FHA|USDA|VA) 10 $730,000 $73,000 $1,488 4.32%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $235,000 $235,000 $2,482 3.25%
    Outside of Metro Areas 2 $210,000 $105,000 $4,470 2.88%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $210,000 $105,000 $2,354 2.56%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $95,000 $95,000 $4,764 2.88%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $85,000 $85,000 $3,885 3.88%
    READING, PA (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.21%
    Belco Community Credit Union's top markets include Harrisburg, Lancaster, Gettysburg, York, and Lebanon among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • North Carolina (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.

    Farmers and Merchants Trust Company of Chambersburg
    Similarity Rank: 108
    PATRIOT
    Similarity Rank: 170
    ACNB Bank
    Similarity Rank: 448
    EVERENCE FEDERAL CREDIT UNION
    Similarity Rank: 544
    PEOPLESBANK, A CODORUS VALLEY COMPANY
    Similarity Rank: 588
    Sail Mortgage Corp.
    Similarity Rank: 640
    AMERICAN FEDERAL MORTGAGE CORPORATION
    Similarity Rank: 1442
    TRIDENT MORTGAGE COMPANY LP
    Similarity Rank: 1508
    Foote Capital Mortgage Company
    Similarity Rank: 1547
    CITADEL FEDERAL CREDIT UNION
    Similarity Rank: 1728

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 181 $22,375,000 $123,619 $3,459 3.37%
    USDA 2 $350,000 $175,000 $7,371 3.13%

    For 2020, Belco Community Credit Union's most frequently originated type of loan was Conventional, with 181 originations. Their 2nd most popular type was USDA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 113 $15,415,000 $136,416 $3,755 3.13%
    Home Purchase 32 $5,740,000 $179,375 $5,776 3.04%
    Home Improvement 18 $590,000 $32,778 $0 3.93%
    Cash Out Refi 13 $485,000 $37,308 $0 4.90%
    Other 7 $495,000 $70,714 $0 4.41%

    For 2020, Belco Community Credit Union's most frequently cited loan purpose was Refi, with 113 originations. The 2nd most popular reason was Home Purchase, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 66 $8,100,000 $122,727 $3,004 3.56%
    30 Year 52 $9,800,000 $188,462 $5,805 3.04%
    10 Year 26 $2,030,000 $78,077 $1,333 3.76%
    5 Year 19 $615,000 $32,368 $0 3.08%
    20 Year 15 $2,005,000 $133,667 $4,404 2.96%
    Other 3 $105,000 $35,000 $0 5.49%
    3 Year 2 $70,000 $35,000 $0 2.99%

    For 2020, Belco Community Credit Union's most frequently cited loan duration was 15 Year, with 66 originations. The 2nd most popular length was 30 Year, with 52 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 74 $4,120,000 $55,676
    $2k-3k 57 $8,305,000 $145,702
    $3k-4k 22 $4,570,000 $207,727
    $1k-2k 14 $1,230,000 $87,857
    $4k-5k 8 $2,420,000 $302,500
    $5k+ 5 $1,795,000 $359,000

    Belco Community Credit Union's average total fees were $5,805, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 74 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 70 $10,700,000 $152,857
    3-4% 56 $6,850,000 $122,321
    <2.5% 25 $3,535,000 $141,400
    4-5% 17 $925,000 $54,412
    5-6% 9 $515,000 $57,222
    6-7% 6 $200,000 $33,333

    During 2020, Belco Community Credit Union's average interest rate for loans was 3.04%, while their most frequently originated rate bucket for loans was 2.5-3%, with 70 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 81 $4,145,000 $51,173 $896 3.92%
    $100k-200k 73 $10,575,000 $144,863 $4,453 2.91%
    $200k-400k 28 $7,490,000 $267,500 $6,859 2.95%
    $400k-600k 1 $515,000 $515,000 $9,506 3.25%

    2020 saw Belco Community Credit Union place emphasis on $100,000 or less loans with 81 originations, totaling $4,145,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 44 $5,570,000 $126,591 $3,508 3.23%
    $50k-75k 43 $4,225,000 $98,256 $3,022 3.13%
    $100k-150k 42 $6,450,000 $153,571 $3,847 3.42%
    $50k or less 24 $2,130,000 $88,750 $3,565 3.12%
    $150k-250k 18 $3,160,000 $175,556 $4,478 3.64%
    $250k+ 3 $685,000 $228,333 $4,753 3.08%

    Belco Community Credit Union lent most frequently to those with incomes in the $75k-100k range, with 44 originations. The second most popular income band? $50k-75k, with 43 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 57 $7,965,000 $139,737 $3,790 3.33%
    30-36% 38 $3,910,000 $102,895 $2,960 3.31%
    <20% 32 $3,170,000 $99,063 $2,772 3.15%
    37% 12 $2,010,000 $167,500 $4,747 3.64%
    42% 9 $1,375,000 $152,778 $4,640 3.31%
    40% 7 $585,000 $83,571 $1,311 4.33%
    39% 6 $680,000 $113,333 $4,071 2.91%
    36% 5 $425,000 $85,000 $1,910 3.37%
    38% 3 $245,000 $81,667 $4,065 4.41%
    41% 2 $270,000 $135,000 $5,030 3.00%
    43% 2 $100,000 $50,000 $0 4.49%
    44% 2 $460,000 $230,000 $5,937 2.88%
    45% 2 $440,000 $220,000 $10,436 3.81%
    46% 2 $400,000 $200,000 $6,215 2.69%
    49% 2 $340,000 $170,000 $4,973 2.69%
    50-60% 1 $55,000 $55,000 $0 6.21%
    47% 1 $295,000 $295,000 $9,865 2.88%

    Belco Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 57 originations. The next most common DTI ratio? 30-36%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 166 $20,580,000 $123,976 $3,483 3.39%
    Not provided 7 $1,165,000 $166,429 $4,867 2.82%
    Black 5 $495,000 $99,000 $4,054 3.32%
    Asian 3 $375,000 $125,000 $1,910 3.41%
    American Indian 1 $65,000 $65,000 $3,562 2.25%
    Other Pacific Islander 1 $45,000 $45,000 $0 3.95%

    Approval Rates

    Total approvals of all applications
    74.04%

    Belco Community Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    58.47%

    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 183 $22,725,000 $124,180

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $95,000 $95,000
    Single Family (1-4 Units):Site-Built 182 $22,630,000 $124,341

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 29 $1,675,000 $57,759 $312 3.87%
    40-60% 28 $3,240,000 $115,714 $3,565 2.89%
    60-80% 66 $11,520,000 $174,545 $4,924 3.01%
    80-100% 26 $5,240,000 $201,538 $6,261 3.00%
    Under 20% 34 $1,050,000 $30,882 $0 4.30%