Penn State Federal Credit Union Mortgage Rates, Fees & Info
State College, PALEI: 549300N4B8DUNK34FL02
Tax ID: 24-0857756
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Penn State Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Penn State Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is State College.Penn State Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
121Origination Dollar Volume (All Markets)
$12,165,000Top 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 |
|---|---|---|---|---|---|
| STATE COLLEGE, PA (FHA|USDA|VA) | 84 | $7,490,000 | $89,167 | $0 | 0.00% |
| Outside of Metro Areas | 37 | $4,675,000 | $126,351 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 121 | $12,165,000 | $100,537 | $0 | 0.00% |
For 2023, Penn State Federal Credit Union's most frequently originated type of loan was Conventional, with 121 originations.
Loan Reason
For 2023, Penn State Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 41 originations. The 2nd most popular reason was Home Improvement, with 34 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 121 | $12,165,000 | $100,537 | $0 | 0.00% |
For 2023, Penn State Federal Credit Union's most frequently cited loan duration was Other, with 121 originations.
Loan Sizing
2023 saw Penn State Federal Credit Union place emphasis on $100,000 or less loans with 82 originations, totaling $3,840,000 in origination value.
Applicant Income
Penn State Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $75k-100k, with 19 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 121 | $12,165,000 | $100,537 | $0 | 0.00% |
Penn State Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 121 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.75%
Penn State Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination89.26%
Penn State Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 121 | $12,165,000 | $100,537 |