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

Jump to:

  • 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, Virginia Beach, and Richmond 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

    147

    Origination Dollar Volume (All Markets)

    $26,245,000

    Awards

    PARK VIEW FEDERAL CREDIT UNION 30 Year Conventional Loans gold PARK VIEW FEDERAL CREDIT UNION 30 Year Conventional Loans bronze
    Show all (2) 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) 112 $20,780,000 $185,536 $2,347 4.46%
    STAUNTON, VA (FHA|USDA|VA) 16 $2,510,000 $156,875 $2,745 4.20%
    Outside of Metro Areas 12 $1,230,000 $102,500 $2,514 5.08%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 3 $705,000 $235,000 $2,302 4.63%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $510,000 $255,000 $5,340 4.44%
    RICHMOND, VA (FHA|USDA|VA) 1 $265,000 $265,000 $3,123 4.33%
    Bluefield, WV-VA (FHA|USDA|VA) 1 $245,000 $245,000 $2,280 4.00%
    Park View Federal Credit Union's top markets include Harrisonburg, Staunton, Charlottesville, Virginia Beach, and Richmond among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • West Virginia (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.

    Virginia Credit Union, Inc.
    Similarity Rank: 112
    PARK VIEW FEDERAL CREDIT UNION
    Similarity Rank: 147
    DUPONT COMMUNITY
    Similarity Rank: 260
    City National Bank of West Virginia
    Similarity Rank: 351
    Tidewater Home Funding, LLC
    Similarity Rank: 480
    Summit Community Bank, Inc.
    Similarity Rank: 704
    MYCUMORTGAGE, LLC
    Similarity Rank: 770
    First Heritage Mortgage, LLC
    Similarity Rank: 1037
    NVR Mortgage Finance, Inc.
    Similarity Rank: 1404
    F & M BANK CORP.
    Similarity Rank: 1520

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 147 $26,245,000 $178,537 $2,453 4.48%

    For 2019, Park View Federal Credit Union's most frequently originated type of loan was Conventional, with 147 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 85 $14,135,000 $166,294 $2,685 4.65%
    Refi 40 $8,220,000 $205,500 $2,383 4.01%
    Cash Out Refi 18 $3,610,000 $200,556 $1,991 4.55%
    Other 4 $280,000 $70,000 $442 5.25%

    For 2019, Park View Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 85 originations. The 2nd most popular reason was Refi, with 40 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 76 $16,290,000 $214,342 $2,720 4.37%
    15 Year 54 $8,140,000 $150,741 $2,260 4.70%
    20 Year 7 $915,000 $130,714 $2,189 4.21%
    10 Year 5 $345,000 $69,000 $1,238 4.23%
    Other 3 $305,000 $101,667 $1,816 4.92%
    5 Year 2 $250,000 $125,000 $692 4.13%

    For 2019, Park View Federal Credit Union's most frequently cited loan duration was 30 Year, with 76 originations. The 2nd most popular length was 15 Year, with 54 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 114 $19,280,000 $169,123
    $1k-2k 15 $3,225,000 $215,000
    $2k-3k 2 $640,000 $320,000

    Park View Federal Credit Union's average total fees were $2,720, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 114 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 66 $12,190,000 $184,697
    3-4% 42 $9,130,000 $217,381
    5-6% 31 $4,095,000 $132,097
    <2.5% 4 $580,000 $145,000
    6-7% 4 $250,000 $62,500

    During 2019, Park View Federal Credit Union's average interest rate for loans was 4.37%, while their most frequently originated rate bucket for loans was 4-5%, with 66 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 57 $8,275,000 $145,175 $2,491 4.53%
    $200k-400k 52 $13,940,000 $268,077 $3,069 4.25%
    $100,000 or less 34 $1,930,000 $56,765 $1,384 4.82%
    $400k-600k 3 $1,375,000 $458,333 $3,156 4.21%
    $600k-1MM 1 $725,000 $725,000 $0 3.50%

    2019 saw Park View Federal Credit Union place emphasis on $100k-200k loans with 57 originations, totaling $8,275,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 44 $5,690,000 $129,318 $2,368 4.55%
    $100k-150k 32 $6,460,000 $201,875 $2,270 4.59%
    $75k-100k 23 $4,605,000 $200,217 $2,614 4.06%
    $50k-75k 21 $3,795,000 $180,714 $2,321 4.44%
    $150k-250k 7 $2,015,000 $287,857 $2,657 4.42%
    $250k+ 7 $1,635,000 $233,571 $2,961 4.50%

    Park View Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 44 originations. The second most popular income band? $100k-150k, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 40 $6,930,000 $173,250 $2,578 4.41%
    30-36% 30 $5,640,000 $188,000 $2,213 4.60%
    <20% 18 $2,750,000 $152,778 $2,442 4.24%
    43% 7 $1,235,000 $176,429 $3,001 3.91%
    42% 7 $2,055,000 $293,571 $2,699 4.43%
    40% 6 $1,230,000 $205,000 $2,237 4.48%
    36% 6 $1,750,000 $291,667 $2,237 4.12%
    38% 5 $755,000 $151,000 $2,016 4.73%
    39% 4 $610,000 $152,500 $2,272 4.75%
    37% 4 $800,000 $200,000 $1,922 4.44%
    41% 2 $120,000 $60,000 $377 4.88%
    44% 2 $250,000 $125,000 $10 5.75%
    45% 1 $195,000 $195,000 $2,356 4.50%
    46% 1 $205,000 $205,000 $2,870 4.75%
    49% 1 $85,000 $85,000 $1,847 4.50%
    50-60% 1 $65,000 $65,000 $1,902 4.25%

    Park View Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 40 originations. The next most common DTI ratio? 30-36%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 122 $21,350,000 $175,000 $2,393 4.48%
    Not provided 12 $2,590,000 $215,833 $2,554 4.16%
    Not applicable 12 $1,990,000 $165,833 $3,089 4.93%
    Black 1 $315,000 $315,000 $2,633 4.13%

    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
    96.60%

    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
    1685.7 1 $195,000 $195,000
    1941.88 1 $35,000 $35,000
    3778.04 1 $725,000 $725,000
    NA 144 $25,290,000 $175,625

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $515,000 $103,000
    Single Family (1-4 Units):Site-Built 142 $25,730,000 $181,197

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $865,000 $96,111 $1,639 4.10%
    40-60% 15 $2,905,000 $193,667 $2,268 4.46%
    60-80% 66 $13,280,000 $201,212 $2,853 4.56%
    80-100% 42 $8,710,000 $207,381 $2,757 4.36%
    Over 100% 2 $130,000 $65,000 $1,168 2.75%
    Under 20% 13 $355,000 $27,308 $570 5.08%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Prospect Financial Group, Inc FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%