Penn State Federal Credit Union Mortgage Rates, Fees & Info

State College, PA

LEI: 549300N4B8DUNK34FL02

Tax ID: 24-0857756

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Mortgage Data

Review & Overview

Penn State Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase 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 an above average pick rate when compared to similar lenders.

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Originations

186

Origination Dollar Volume (All Markets)

$20,030,000

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
STATE COLLEGE, PA (FHA|USDA|VA) 123 $13,675,000 $111,179 $0 0.00%
Outside of Metro Areas 63 $6,355,000 $100,873 $0 0.00%
Penn State Federal Credit Union's top markets include and State College among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 186 $20,030,000 $107,688 $0 0.00%

    For 2021, Penn State Federal Credit Union's most frequently originated type of loan was Conventional, with 186 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 62 $7,270,000 $117,258 $0 0.00%
    Refi 46 $5,150,000 $111,957 $0 0.00%
    Home Improvement 34 $2,630,000 $77,353 $0 0.00%
    Home Purchase 30 $4,070,000 $135,667 $0 0.00%
    Other 14 $910,000 $65,000 $0 0.00%

    For 2021, Penn State Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 62 originations. The 2nd most popular reason was Refi, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 186 $20,030,000 $107,688 $0 0.00%

    For 2021, Penn State Federal Credit Union's most frequently cited loan duration was Other, with 186 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 100 $5,230,000 $52,300 $0 0.00%
    $100k-200k 66 $9,050,000 $137,121 $0 0.00%
    $200k-400k 18 $4,840,000 $268,889 $0 0.00%
    $400k-600k 2 $910,000 $455,000 $0 0.00%

    2021 saw Penn State Federal Credit Union place emphasis on $100,000 or less loans with 100 originations, totaling $5,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 46 $4,750,000 $103,261 $0 0.00%
    $50k-75k 44 $3,910,000 $88,864 $0 0.00%
    $75k-100k 34 $3,580,000 $105,294 $0 0.00%
    $50k or less 27 $2,055,000 $76,111 $0 0.00%
    $150k-250k 21 $2,945,000 $140,238 $0 0.00%
    $250k+ 3 $615,000 $205,000 $0 0.00%

    Penn State Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 46 originations. The second most popular income band? $50k-75k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 186 $20,030,000 $107,688 $0 0.00%

    Penn State Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 186 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 168 $17,190,000 $102,321 $0 0.00%
    Not applicable 11 $2,175,000 $197,727 $0 0.00%
    Black 2 $350,000 $175,000 $0 0.00%
    Asian 1 $105,000 $105,000 $0 0.00%
    American Indian 1 $75,000 $75,000 $0 0.00%
    Not provided 1 $75,000 $75,000 $0 0.00%
    Asian Indian 2 $60,000 $30,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.10%

    Penn State 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
    92.47%

    Penn State Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 186 $20,030,000 $107,688

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    186 $20,030,000 $107,688