Park View Federal Credit Union Mortgage Rates, Fees & Info

Harrisonburg, VA

LEI: 549300LTO41UX0MSL179

Tax ID: 23-7089684

5 stars - Updated: 3/28/24 - out of 5 stars, based on 14 reviews

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

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Mortgage Data

Review & Overview

Park View Federal Credit Union is a smaller credit union specializing in Other, Home Purchase, Cash Out Refi, and Refi loans. Park View Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Harrisonburg, Staunton, and Richmond among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Park View 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. Park View 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 relatively high 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 5.18% 3/28/24
30 Year Conventional Purchase 7.42% 3/28/24
30 Year Conventional Refi 6.49% 3/28/24
30 Year Cash-out Refi 6.72% 3/28/24
15 Year Conventional Purchase 6.26% 3/28/24
15 Year Conventional Refi 6.55% 3/28/24
15 Year Cash-out Refi 6.55% 3/28/24
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.

Park View Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Park View Federal 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

188

Origination Dollar Volume (All Markets)

$29,430,000

Awards

PARK VIEW FEDERAL CREDIT UNION 30 Year Conventional Loans gold PARK VIEW FEDERAL CREDIT UNION 30 Year Conventional Loans silver PARK VIEW FEDERAL CREDIT UNION 30 Year Conventional Loans gold PARK VIEW FEDERAL CREDIT UNION 30 Year Conventional Loans gold
Show all (4) awards

Relative Rate

Park View Federal Credit Union's average 30 year fixed mortgage rate was 7.45%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.97%.

Relative Fees (Closing Costs)

Park View Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,215.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
HARRISONBURG, VA (FHA|USDA|VA) 156 $24,370,000 $156,218 $2,673 7.41%
STAUNTON, VA (FHA|USDA|VA) 20 $3,040,000 $152,000 $3,158 6.43%
Outside of Metro Areas 11 $1,605,000 $145,909 $4,010 7.23%
RICHMOND, VA (FHA|USDA|VA) 1 $415,000 $415,000 $0 6.75%
Park View Federal Credit Union's top markets include Harrisonburg, Staunton, and Richmond among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against PARK VIEW FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    PARK VIEW FEDERAL CREDIT UNION
    Similarity Rank: 12
    DUPONT COMMUNITY
    Similarity Rank: 77
    F & M BANK CORP.
    Similarity Rank: 580
    George Mason Mortgage, LLC
    Similarity Rank: 708
    CBM Mortgage, Inc.
    Similarity Rank: 867
    FIRST BANCORP
    Similarity Rank: 968
    C & F Mortgage Corporation
    Similarity Rank: 1144
    Atlantic Coast Mortgage, LLC
    Similarity Rank: 2178

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 107 $11,785,000 $110,140 n/a 8.26%
    Conventional 81 $17,645,000 $217,840 $2,795 6.00%

    For 2023, Park View Federal Credit Union's most frequently originated type of loan was HELOC, with 107 originations. Their 2nd most popular type was Conventional, with 81 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 83 $8,205,000 $98,855 $109 8.44%
    Home Purchase 36 $7,870,000 $218,611 $3,553 5.99%
    Cash Out Refi 34 $6,030,000 $177,353 $2,941 6.86%
    Refi 33 $6,635,000 $201,061 $2,759 6.20%
    Home Improvement 2 $690,000 $345,000 $0 7.50%

    For 2023, Park View Federal Credit Union's most frequently cited loan purpose was Other, with 83 originations. The 2nd most popular reason was Home Purchase, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 103 $15,305,000 $148,592 $3,215 7.45%
    15 Year 44 $9,430,000 $214,318 $3,001 6.04%
    20 Year 30 $2,690,000 $89,667 $109 8.34%
    Other 6 $1,490,000 $248,333 $3,964 7.19%
    10 Year 5 $515,000 $103,000 $0 8.80%

    For 2023, Park View Federal Credit Union's most frequently cited loan duration was 30 Year, with 103 originations. The 2nd most popular length was 15 Year, with 44 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 21 $5,965,000 $284,048
    $<1k 4 $170,000 $42,500
    $2k-3k 2 $380,000 $190,000

    Park View Federal Credit Union's average total fees were $3,215, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 21 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 56 $6,950,000 $124,107
    Over 8% 51 $4,705,000 $92,255
    5-6% 29 $6,605,000 $227,759
    6-7% 29 $4,715,000 $162,586
    4-5% 13 $3,205,000 $246,538
    3-4% 9 $3,005,000 $333,889

    During 2023, Park View Federal Credit Union's average interest rate for loans was 7.45%, while their most frequently originated rate bucket for loans was 7-8%, with 56 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 81 $4,505,000 $55,617 $109 8.16%
    $100k-200k 56 $8,370,000 $149,464 $3,048 7.12%
    $200k-400k 37 $9,035,000 $244,189 $3,326 6.17%
    $400k-600k 11 $5,185,000 $471,364 $3,364 5.93%
    $600k-1MM 2 $1,250,000 $625,000 $4,235 5.75%
    $1MM+ 1 $1,085,000 $1,085,000 $0 5.25%

    2023 saw Park View Federal Credit Union place emphasis on $100,000 or less loans with 81 originations, totaling $4,505,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 44 $7,210,000 $163,864 $2,956 7.19%
    $100k-150k 41 $5,395,000 $131,585 $2,673 7.70%
    $50k-75k 32 $3,770,000 $117,813 $2,785 7.40%
    $150k-250k 20 $2,820,000 $141,000 $2,486 7.96%
    $50k or less 14 $2,470,000 $176,429 $2,845 7.24%
    $250k+ 5 $785,000 $157,000 $0 6.60%

    Park View Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 44 originations. The second most popular income band? $100k-150k, with 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 50 $5,660,000 $113,200 $2,493 7.53%
    30-36% 35 $4,555,000 $130,143 $3,623 7.36%
    <20% 29 $5,135,000 $177,069 $1,347 6.53%
    43% 8 $1,560,000 $195,000 $3,242 7.50%
    >60% 7 $2,795,000 $399,286 $3,411 7.18%
    40% 7 $1,115,000 $159,286 $3,176 7.29%
    44% 6 $860,000 $143,333 $1,525 7.02%
    50-60% 6 $660,000 $110,000 $0 7.88%
    36% 6 $1,270,000 $211,667 $3,340 7.50%
    37% 6 $660,000 $110,000 $0 7.25%
    39% 4 $240,000 $60,000 $109 8.25%
    41% 4 $750,000 $187,500 $3,002 8.38%
    38% 4 $470,000 $117,500 $0 7.75%
    47% 3 $605,000 $201,667 $3,063 6.33%
    45% 3 $435,000 $145,000 $0 7.42%
    49% 1 $275,000 $275,000 $3,099 4.25%
    46% 1 $205,000 $205,000 $0 7.00%

    Park View 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 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 152 $21,820,000 $143,553 $2,784 7.40%
    Not applicable 32 $6,980,000 $218,125 $0 6.51%
    Not provided 3 $525,000 $175,000 $3,063 10.00%
    Black 1 $105,000 $105,000 $0 8.00%

    Approval Rates

    Total approvals of all applications
    98.99%

    Park View 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 origination
    95.74%

    Park View Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 3 $365,000 $121,667
    10421.0 1 $195,000 $195,000
    1150.0 1 $85,000 $85,000
    1375.0 1 $125,000 $125,000
    1400.0 1 $135,000 $135,000
    2220.0 1 $225,000 $225,000
    2389.0 1 $175,000 $175,000
    2430.0 1 $185,000 $185,000
    2505.0 1 $205,000 $205,000
    2591.0 1 $205,000 $205,000
    2631.0 1 $205,000 $205,000
    2752.0 1 $225,000 $225,000
    2906.0 1 $205,000 $205,000
    292.0 1 $35,000 $35,000
    2993.0 1 $255,000 $255,000
    3063.0 1 $165,000 $165,000
    3079.0 1 $195,000 $195,000
    3413.0 1 $205,000 $205,000
    341.5 1 $35,000 $35,000
    3425.0 1 $195,000 $195,000
    393.0 1 $55,000 $55,000
    396.0 1 $175,000 $175,000
    4048.0 1 $1,085,000 $1,085,000
    431.5 1 $255,000 $255,000
    5556.0 1 $445,000 $445,000
    5615.0 1 $535,000 $535,000
    580.0 1 $25,000 $25,000
    630.0 1 $35,000 $35,000
    977.0 1 $85,000 $85,000
    NA 157 $23,115,000 $147,229

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    188 $29,430,000 $156,543

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 47 $4,855,000 $103,298 $2,981 7.60%
    40-60% 25 $5,525,000 $221,000 $2,850 6.78%
    60-80% 48 $11,600,000 $241,667 $3,170 6.39%
    80-100% 18 $4,820,000 $267,778 $3,797 6.15%
    Over 100% 1 $205,000 $205,000 $0 5.25%
    Under 20% 49 $2,425,000 $49,490 $109 8.57%