Panhandle Federal Credit Union Mortgage Rates, Fees & Info
Wellington, KSLEI: 549300KZ01YWJR4OIS58
Tax ID: 48-0644752
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Mortgage Data
Review & Overview
Panhandle Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Panhandle Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Wichita.Panhandle Federal Credit Union has an above average approval rate when compared to the average across all lenders. Panhandle Federal 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 11/17/24 |
| 30 Year Conventional Refi | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 5.68% | 11/17/24 |
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 11/17/24 |
| 15 Year FHA Refi | 5.68% | 11/17/24 |
| 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. | ||
Panhandle 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
26Origination Dollar Volume (All Markets)
$1,560,000Top 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 |
|---|---|---|---|---|---|
| WICHITA, KS (FHA|USDA|VA) | 25 | $1,535,000 | $61,400 | $830 | 4.11% |
| Outside of Metro Areas | 1 | $25,000 | $25,000 | $853 | 3.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against PANHANDLE FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 26 | $1,560,000 | $60,000 | $831 | 4.08% |
For 2018, Panhandle Federal Credit Union's most frequently originated type of loan was Conventional, with 26 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 19 | $1,055,000 | $55,526 | $740 | 4.05% |
| Home Purchase | 7 | $505,000 | $72,143 | $1,065 | 4.14% |
For 2018, Panhandle Federal Credit Union's most frequently cited loan purpose was Refi, with 19 originations. The 2nd most popular reason was Home Purchase, with 7 originations.
Loan Duration/Length
For 2018, Panhandle Federal Credit Union's most frequently cited loan duration was 30 Year, with 9 originations. The 2nd most popular length was 15 Year, with 7 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 16 | $1,070,000 | $66,875 |
| 4-5% | 7 | $385,000 | $55,000 |
| 5-6% | 3 | $105,000 | $35,000 |
During 2018, Panhandle Federal Credit Union's average interest rate for loans was 4.31%, while their most frequently originated rate bucket for loans was 3-4%, with 16 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 20 | $790,000 | $39,500 | $677 | 4.10% |
| $100k-200k | 6 | $770,000 | $128,333 | $1,319 | 4.00% |
2018 saw Panhandle Federal Credit Union place emphasis on $100,000 or less loans with 20 originations, totaling $790,000 in origination value.
Applicant Income
Panhandle Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 11 originations. The second most popular income band? $75k-100k, with 5 originations.
Applicant Debt to Income Ratio
Panhandle Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? <20%, with 8 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 26 | $1,560,000 | $60,000 | $831 | 4.08% |
Approval Rates
Total approvals of all applications92.86%
Panhandle Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 26 | $1,560,000 | $60,000 |