Parda Federal Credit Union Mortgage Rates, Fees & Info
AUBURN HILLS, MILEI: 549300L6BONVKN6UXC26
Tax ID: 38-0906855
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Mortgage Data
Review & Overview
Parda Federal Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. Parda Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New York, Grand Rapids, Ann Arbor, Lancaster, and Detroit among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)Parda 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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Originations
55Origination Dollar Volume (All Markets)
$3,415,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 6 | $710,000 | $118,333 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 9 | $515,000 | $57,222 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 7 | $405,000 | $57,857 | $0 | 0.00% |
| LANCASTER, PA (FHA|USDA|VA) | 5 | $295,000 | $59,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 8 | $250,000 | $31,250 | $0 | 0.00% |
| ROCKFORD, IL (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $0 | 0.00% |
| Holland, MI (FHA|USDA|VA) | 4 | $160,000 | $40,000 | $0 | 0.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| Greenwood, SC (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $65,000 | $65,000 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| Adrian, MI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (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 | 55 | $3,415,000 | $62,091 | $0 | 0.00% |
For 2018, Parda Federal Credit Union's most frequently originated type of loan was Conventional, with 55 originations.
Loan Reason
For 2018, Parda Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 19 originations. The 2nd most popular reason was Refi, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 55 | $3,415,000 | $62,091 | $0 | 0.00% |
For 2018, Parda Federal Credit Union's most frequently cited loan duration was Other, with 55 originations.
Loan Sizing
2018 saw Parda Federal Credit Union place emphasis on $100,000 or less loans with 46 originations, totaling $1,940,000 in origination value.
Applicant Income
Parda Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 18 originations. The second most popular income band? $100k-150k, with 14 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 55 | $3,415,000 | $62,091 | $0 | 0.00% |
Parda Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 55 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.14%
Parda Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination94.55%
Parda Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 55 | $3,415,000 | $62,091 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $60,000 | $30,000 |
| Single Family (1-4 Units):Site-Built | 53 | $3,355,000 | $63,302 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Peer Advisors, LLC | Conventional home mortgage | Struggling to pay mortgage | 1 | 3.4% |
| Peer Advisors, LLC | Conventional home mortgage | Trouble during payment process | 1 | 3.4% |
| Peer Advisors, LLC | Reverse mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 6.9% |
| Peer Advisors, LLC | Reverse mortgage | Closing on a mortgage | 6 | 20.7% |
| Peer Advisors, LLC | Reverse mortgage | Struggling to pay mortgage | 6 | 20.7% |
| Peer Advisors, LLC | Reverse mortgage | Trouble during payment process | 13 | 44.8% |