Parda Federal Credit Union Mortgage Rates, Fees & Info
AUBURN HILLS, MILEI: 549300L6BONVKN6UXC26
Tax ID: 38-0906855
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Parda Federal Credit Union is a smaller credit union specializing in Other loans. Parda Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Grand Rapids, Holland, Rockford, Greenwood, and New York among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)Parda Federal 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.
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Originations
74Origination Dollar Volume (All Markets)
$6,100,000Top 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 |
|---|---|---|---|---|---|
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 16 | $900,000 | $56,250 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $800,000 | $133,333 | $0 | 0.00% |
| Holland, MI (FHA|USDA|VA) | 7 | $795,000 | $113,571 | $0 | 0.00% |
| ROCKFORD, IL (FHA|USDA|VA) | 4 | $660,000 | $165,000 | $0 | 0.00% |
| Greenwood, SC (FHA|USDA|VA) | 8 | $620,000 | $77,500 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 4 | $480,000 | $120,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 8 | $390,000 | $48,750 | $0 | 0.00% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $0 | 0.00% |
| LANCASTER, PA (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 0.00% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Adrian, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 74 | $6,100,000 | $82,432 | $0 | 0.00% |
For 2023, Parda Federal Credit Union's most frequently originated type of loan was Conventional, with 74 originations.
Loan Reason
For 2023, Parda Federal Credit Union's most frequently cited loan purpose was Other, with 29 originations. The 2nd most popular reason was Home Improvement, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 74 | $6,100,000 | $82,432 | $0 | 0.00% |
For 2023, Parda Federal Credit Union's most frequently cited loan duration was Other, with 74 originations.
Loan Sizing
2023 saw Parda Federal Credit Union place emphasis on $100,000 or less loans with 60 originations, totaling $2,960,000 in origination value.
Applicant Income
Parda Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $75k-100k, with 16 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 74 | $6,100,000 | $82,432 | $0 | 0.00% |
Parda Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 74 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.22%
Parda Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination81.08%
Parda Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 74 | $6,100,000 | $82,432 |