West-aircomm Federal Credit Union Mortgage Rates, Fees & Info
Beaver, PALEI: 549300JUU7PS6Y4KM909
Tax ID: 25-0997697
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Mortgage Data
Review & Overview
West-aircomm Federal Credit Union is a smaller credit union specializing in Other, Home Improvement, and Refi loans. West-aircomm Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top two markets are Pittsburgh and New Castle .West-aircomm Federal Credit Union 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Purchase | 5.68% | 5/5/24 |
| 15 Year Conventional Refi | 5.95% | 5/5/24 |
| 15 Year Cash-out Refi | 5.95% | 5/5/24 |
| 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. | ||
West-aircomm Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
167Origination Dollar Volume (All Markets)
$14,705,000Top 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) | 164 | $14,580,000 | $88,902 | $470 | 4.44% |
| New Castle, PA (FHA|USDA|VA) | 3 | $125,000 | $41,667 | $509 | 4.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 166 | $14,590,000 | $87,892 | $471 | 4.43% |
| FHA | 1 | $115,000 | $115,000 | $408 | 5.00% |
For 2022, West-aircomm Federal Credit Union's most frequently originated type of loan was Conventional, with 166 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2022, West-aircomm Federal Credit Union's most frequently cited loan purpose was Other, with 82 originations. The 2nd most popular reason was Home Improvement, with 49 originations.
Loan Duration/Length
For 2022, West-aircomm Federal Credit Union's most frequently cited loan duration was 15 Year, with 115 originations. The 2nd most popular length was 10 Year, with 31 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 163 | $14,285,000 | $87,638 |
West-aircomm Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 163 originations.
Interest Rates
During 2022, West-aircomm Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 75 originations.
Loan Sizing
2022 saw West-aircomm Federal Credit Union place emphasis on $100,000 or less loans with 115 originations, totaling $5,825,000 in origination value.
Applicant Income
West-aircomm Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 40 originations. The second most popular income band? $100k-150k, with 38 originations.
Applicant Debt to Income Ratio
West-aircomm Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 50 originations. The next most common DTI ratio? 30-36%, with 31 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.76%
West-aircomm Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination93.41%
West-aircomm Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 167 | $14,705,000 | $88,054 |