Park View Federal Credit Union Mortgage Rates, Fees & Info

Harrisonburg, VA

LEI: 549300LTO41UX0MSL179

Tax ID: 23-7089684

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Park View Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Park View Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Harrisonburg, Staunton, Charlottesville, Richmond, and Blacksburg among others. We have data for 7 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 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 5.18% 4/28/24
    30 Year Conventional Purchase 7.42% 4/28/24
    30 Year Conventional Refi 6.49% 4/28/24
    30 Year Cash-out Refi 6.72% 4/28/24
    15 Year Conventional Purchase 6.26% 4/28/24
    15 Year Conventional Refi 6.55% 4/28/24
    15 Year Cash-out Refi 6.55% 4/28/24
    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

    120

    Origination Dollar Volume (All Markets)

    $19,620,000

    Awards

    PARK VIEW FEDERAL CREDIT UNION 30 Year Conventional Loans silver
    Show all (1) awards

    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) 89 $15,545,000 $174,663 $2,297 4.65%
    STAUNTON, VA (FHA|USDA|VA) 14 $2,030,000 $145,000 $2,383 4.58%
    Outside of Metro Areas 11 $1,215,000 $110,455 $2,341 4.98%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 3 $545,000 $181,667 $2,994 3.83%
    RICHMOND, VA (FHA|USDA|VA) 1 $115,000 $115,000 $0 4.75%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $115,000 $115,000 $2,349 3.75%
    ROANOKE, VA (FHA|USDA|VA) 1 $55,000 $55,000 $2,025 5.25%
    Park View Federal Credit Union's top markets include Harrisonburg, Staunton, Charlottesville, Richmond, and Blacksburg among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Maryland (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: 84
    City National Bank of West Virginia
    Similarity Rank: 114
    DUPONT COMMUNITY
    Similarity Rank: 176
    Union Mortgage Group
    Similarity Rank: 396
    First Heritage Mortgage, LLC
    Similarity Rank: 516
    Tidewater Home Funding, LLC
    Similarity Rank: 561
    F & M BANK CORP.
    Similarity Rank: 650
    FIRST BANCORP
    Similarity Rank: 792
    MYCUMORTGAGE, LLC
    Similarity Rank: 966
    C & F Mortgage Corporation
    Similarity Rank: 1025

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 119 $19,565,000 $164,412 $2,329 4.65%
    HELOC 1 $55,000 $55,000 n/a 4.75%

    For 2018, Park View Federal Credit Union's most frequently originated type of loan was Conventional, with 119 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 64 $9,890,000 $154,531 $2,533 4.59%
    Refi 32 $5,890,000 $184,063 $2,185 4.82%
    Cash Out Refi 22 $3,810,000 $173,182 $2,120 4.50%
    Other 2 $30,000 $15,000 $10 5.63%

    For 2018, Park View Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 64 originations. The 2nd most popular reason was Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 52 $7,130,000 $137,115 $1,702 4.79%
    30 Year 32 $6,920,000 $216,250 $2,935 4.59%
    20 Year 14 $2,520,000 $180,000 $2,631 4.73%
    Other 11 $1,775,000 $161,364 $2,212 4.59%
    10 Year 10 $1,070,000 $107,000 $2,059 4.00%
    1 Year 1 $205,000 $205,000 $0 5.50%

    For 2018, Park View Federal Credit Union's most frequently cited loan duration was 15 Year, with 52 originations. The 2nd most popular length was 30 Year, with 32 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 86 $13,170,000 $153,140
    $1k-2k 11 $2,595,000 $235,909
    $2k-3k 1 $435,000 $435,000

    Park View Federal Credit Union's average total fees were $2,935, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 86 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 60 $10,980,000 $183,000
    5-6% 32 $3,920,000 $122,500
    3-4% 27 $4,475,000 $165,741
    7-8% 1 $245,000 $245,000

    During 2018, Park View Federal Credit Union's average interest rate for loans was 4.59%, while their most frequently originated rate bucket for loans was 4-5%, with 60 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 50 $6,940,000 $138,800 $2,209 4.60%
    $200k-400k 33 $7,815,000 $236,818 $2,655 4.64%
    $100,000 or less 31 $2,055,000 $66,290 $1,517 4.76%
    $400k-600k 6 $2,810,000 $468,333 $4,772 4.55%

    2018 saw Park View Federal Credit Union place emphasis on $100k-200k loans with 50 originations, totaling $6,940,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 30 $3,860,000 $128,667 $2,242 4.64%
    $75k-100k 20 $3,730,000 $186,500 $2,591 4.41%
    $100k-150k 18 $3,780,000 $210,000 $2,358 4.54%
    $50k-75k 18 $2,670,000 $148,333 $2,153 4.53%
    $150k-250k 8 $1,500,000 $187,500 $2,354 4.45%
    $250k+ 3 $285,000 $95,000 $703 4.83%

    Park View Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 30 originations. The second most popular income band? $75k-100k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 24 $3,320,000 $138,333 $2,098 4.49%
    30-36% 22 $3,820,000 $173,636 $2,080 4.57%
    <20% 14 $1,750,000 $125,000 $2,324 4.30%
    43% 7 $1,355,000 $193,571 $2,925 4.86%
    39% 5 $585,000 $117,000 $1,826 4.68%
    40% 5 $1,245,000 $249,000 $2,823 4.48%
    37% 4 $760,000 $190,000 $2,175 4.25%
    36% 4 $500,000 $125,000 $1,855 5.03%
    44% 4 $750,000 $187,500 $3,014 5.04%
    50-60% 3 $875,000 $291,667 $3,763 4.67%
    >60% 2 $450,000 $225,000 $0 6.50%
    41% 2 $300,000 $150,000 $2,388 4.63%
    46% 1 $205,000 $205,000 $5,094 4.38%
    48% 1 $225,000 $225,000 $2,572 4.00%
    42% 1 $95,000 $95,000 $1,571 3.25%
    38% 1 $85,000 $85,000 $1,390 4.50%

    Park View Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 89 $14,395,000 $161,742 $2,259 4.58%
    Not applicable 23 $3,795,000 $165,000 $2,909 5.11%
    Not provided 5 $985,000 $197,000 $2,718 3.90%
    Black 3 $445,000 $148,333 $2,734 4.35%

    Approval Rates

    Total approvals of all applications
    100.00%

    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
    98.33%

    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
    1000.0 1 $285,000 $285,000
    1139.41 1 $85,000 $85,000
    1400.45 1 $115,000 $115,000
    1905.0 1 $205,000 $205,000
    225.0 1 $245,000 $245,000
    2684.14 1 $85,000 $85,000
    2874.56 1 $95,000 $95,000
    3628.5 1 $125,000 $125,000
    389.5 1 $95,000 $95,000
    3901.85 1 $225,000 $225,000
    4078.88 1 $135,000 $135,000
    525.0 1 $75,000 $75,000
    NA 108 $17,850,000 $165,278

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $280,000 $140,000
    Single Family (1-4 Units):Site-Built 118 $19,340,000 $163,898

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $750,000 $93,750 $2,168 4.09%
    40-60% 21 $2,565,000 $122,143 $1,851 4.56%
    60-80% 55 $11,225,000 $204,091 $2,700 4.66%
    80-100% 26 $4,380,000 $168,462 $2,747 4.62%
    Over 100% 1 $205,000 $205,000 $0 5.50%
    Under 20% 9 $495,000 $55,000 $353 5.33%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Prospect Mortgage, LLC FHA mortgage Struggling to pay mortgage 1 100.0%