Penn State Federal Credit Union Mortgage Rates, Fees & Info
State College, PALEI: 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 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 typically have relatively high rates.
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Originations
149Origination Dollar Volume (All Markets)
$10,905,000Top 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) | 107 | $8,545,000 | $79,860 | $0 | 4.50% |
| Outside of Metro Areas | 42 | $2,360,000 | $56,190 | $0 | 4.44% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 149 | $10,905,000 | $73,188 | $0 | 4.49% |
For 2018, Penn State Federal Credit Union's most frequently originated type of loan was Conventional, with 149 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 149 | $10,905,000 | $73,188 | $0 | 4.49% |
For 2018, Penn State Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 149 originations.
Loan Duration/Length
For 2018, Penn State Federal Credit Union's most frequently cited loan duration was 5 Year, with 57 originations. The 2nd most popular length was 15 Year, with 38 originations.
Interest Rates
During 2018, Penn State Federal Credit Union's average interest rate for loans was 5.19%, while their most frequently originated rate bucket for loans was 5-6%, with 49 originations.
Loan Sizing
2018 saw Penn State Federal Credit Union place emphasis on $100,000 or less loans with 114 originations, totaling $4,690,000 in origination value.
Applicant Income
Penn State Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 39 originations. The second most popular income band? $50k-75k, with 38 originations.
Applicant Debt to Income Ratio
Penn State Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? <20%, with 33 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.33%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 149 | $10,905,000 | $73,188 |