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 Refi and Home Purchase 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 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% 12/16/24
    30 Year Conventional Purchase 7.42% 12/16/24
    30 Year Conventional Refi 6.49% 12/16/24
    30 Year Cash-out Refi 6.72% 12/16/24
    15 Year Conventional Purchase 6.26% 12/16/24
    15 Year Conventional Refi 6.55% 12/16/24
    15 Year Cash-out Refi 6.55% 12/16/24
    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

    110

    Origination Dollar Volume (All Markets)

    $22,610,000

    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) 90 $18,750,000 $208,333 $2,582 3.93%
    STAUNTON, VA (FHA|USDA|VA) 14 $3,000,000 $214,286 $3,968 4.06%
    Outside of Metro Areas 5 $635,000 $127,000 $2,382 3.97%
    RICHMOND, VA (FHA|USDA|VA) 1 $225,000 $225,000 $2,888 3.50%
    Park View Federal Credit Union's top markets include Harrisonburg, Staunton, 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.

    PARK VIEW FEDERAL CREDIT UNION
    Similarity Rank: 112
    Virginia Credit Union, Inc.
    Similarity Rank: 144
    FIRST BANCORP
    Similarity Rank: 646
    DUPONT COMMUNITY
    Similarity Rank: 702
    Summit Community Bank, Inc.
    Similarity Rank: 989
    F & M BANK CORP.
    Similarity Rank: 1140
    City National Bank of West Virginia
    Similarity Rank: 1160
    First Heritage Mortgage, LLC
    Similarity Rank: 1496
    NVR Mortgage Finance, Inc.
    Similarity Rank: 2695
    MYCUMORTGAGE, LLC
    Similarity Rank: 2718

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 110 $22,610,000 $205,545 $2,735 3.94%

    For 2020, Park View Federal Credit Union's most frequently originated type of loan was Conventional, with 110 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 48 $11,790,000 $245,625 $2,601 3.72%
    Home Purchase 43 $8,165,000 $189,884 $3,356 3.93%
    Cash Out Refi 17 $2,475,000 $145,588 $2,057 4.47%
    Other 2 $180,000 $90,000 $1,217 5.00%

    For 2020, Park View Federal Credit Union's most frequently cited loan purpose was Refi, with 48 originations. The 2nd most popular reason was Home Purchase, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 54 $8,640,000 $160,000 $2,905 4.26%
    30 Year 39 $8,335,000 $213,718 $2,626 3.54%
    20 Year 7 $905,000 $129,286 $2,076 3.93%
    Other 6 $3,990,000 $665,000 $4,057 3.96%
    10 Year 4 $740,000 $185,000 $1,789 3.57%

    For 2020, Park View Federal Credit Union's most frequently cited loan duration was 15 Year, with 54 originations. The 2nd most popular length was 30 Year, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 46 $10,150,000 $220,652
    $<1k 42 $6,210,000 $147,857
    $4k-5k 1 $785,000 $785,000

    Park View Federal Credit Union's average total fees were $2,626, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 46 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 51 $12,005,000 $235,392
    4-5% 37 $6,585,000 $177,973
    2.5-3% 13 $2,405,000 $185,000
    5-6% 7 $1,185,000 $169,286
    <2.5% 1 $415,000 $415,000
    Over 8% 1 $15,000 $15,000

    During 2020, Park View Federal Credit Union's average interest rate for loans was 3.54%, while their most frequently originated rate bucket for loans was 3-4%, with 51 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 49 $7,295,000 $148,878 $2,493 3.83%
    $100,000 or less 27 $1,915,000 $70,926 $1,896 4.29%
    $200k-400k 24 $6,390,000 $266,250 $3,036 3.95%
    $400k-600k 7 $3,185,000 $455,000 $3,107 3.51%
    $1MM+ 2 $3,040,000 $1,520,000 $9,209 3.75%
    $600k-1MM 1 $785,000 $785,000 $15,936 3.60%

    2020 saw Park View Federal Credit Union place emphasis on $100k-200k loans with 49 originations, totaling $7,295,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 25 $4,295,000 $171,800 $2,262 3.81%
    $50k-75k 24 $3,470,000 $144,583 $2,514 4.07%
    $100k-150k 17 $3,385,000 $199,118 $2,766 3.86%
    $75k-100k 17 $3,155,000 $185,588 $2,449 3.59%
    $150k-250k 6 $1,830,000 $305,000 $3,173 3.56%
    $250k+ 2 $1,010,000 $505,000 $9,412 3.55%

    Park View Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 25 originations. The second most popular income band? $50k-75k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 29 $4,175,000 $143,966 $2,265 3.86%
    20-30% 24 $5,030,000 $209,583 $3,299 3.67%
    30-36% 12 $2,240,000 $186,667 $2,507 3.47%
    37% 6 $2,190,000 $365,000 $3,826 3.71%
    43% 5 $905,000 $181,000 $1,955 4.48%
    50-60% 4 $2,760,000 $690,000 $2,999 4.19%
    38% 4 $420,000 $105,000 $2,284 4.44%
    47% 3 $905,000 $301,667 $2,586 3.46%
    39% 2 $640,000 $320,000 $3,188 2.94%
    40% 2 $160,000 $80,000 $0 5.88%
    44% 2 $310,000 $155,000 $1,706 3.50%
    41% 1 $145,000 $145,000 $2,611 3.13%
    48% 1 $115,000 $115,000 $2,472 4.13%
    36% 1 $185,000 $185,000 $2,288 4.13%

    Park View Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 29 originations. The next most common DTI ratio? 20-30%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 85 $16,325,000 $192,059 $2,691 3.80%
    Not applicable 19 $5,465,000 $287,632 $3,452 4.51%
    Not provided 4 $440,000 $110,000 $2,560 4.72%
    Black 2 $380,000 $190,000 $2,544 2.93%

    Approval Rates

    Total approvals of all applications
    93.39%

    Park View Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.27%

    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 1 $15,000 $15,000
    1842.64 1 $75,000 $75,000
    NA 108 $22,520,000 $208,519

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $2,415,000 $805,000
    Single Family (1-4 Units):Manufactured 6 $660,000 $110,000
    Single Family (1-4 Units):Site-Built 101 $19,535,000 $193,416

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $795,000 $113,571 $1,873 4.54%
    40-60% 22 $5,170,000 $235,000 $2,291 3.77%
    60-80% 52 $11,290,000 $217,115 $3,062 3.92%
    80-100% 26 $4,890,000 $188,077 $2,709 3.87%
    Over 100% 1 $235,000 $235,000 $2,565 4.50%
    Under 20% 2 $230,000 $115,000 $70 5.06%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Parkway Financial Group, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%