Penn State Federal Credit Union Mortgage Rates, Fees & Info

State College, PA

LEI: 549300N4B8DUNK34FL02

Tax ID: 24-0857756

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

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

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    Originations

    95

    Origination Dollar Volume (All Markets)

    $5,745,000

    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) 62 $4,000,000 $64,516 $0 0.00%
    Outside of Metro Areas 33 $1,745,000 $52,879 $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 95 $5,745,000 $60,474 $0 0.00%

    For 2019, Penn State Federal Credit Union's most frequently originated type of loan was Conventional, with 95 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 30 $1,200,000 $40,000 $0 0.00%
    Other 20 $1,090,000 $54,500 $0 0.00%
    Refi 19 $1,455,000 $76,579 $0 0.00%
    Cash Out Refi 17 $1,515,000 $89,118 $0 0.00%
    Home Purchase 9 $485,000 $53,889 $0 0.00%

    For 2019, Penn State Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 30 originations. The 2nd most popular reason was Other, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 95 $5,745,000 $60,474 $0 0.00%

    For 2019, Penn State Federal Credit Union's most frequently cited loan duration was Other, with 95 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 78 $3,310,000 $42,436 $0 0.00%
    $100k-200k 15 $1,955,000 $130,333 $0 0.00%
    $200k-400k 2 $480,000 $240,000 $0 0.00%

    2019 saw Penn State Federal Credit Union place emphasis on $100,000 or less loans with 78 originations, totaling $3,310,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 26 $1,510,000 $58,077 $0 0.00%
    $75k-100k 24 $1,560,000 $65,000 $0 0.00%
    $50k-75k 19 $1,215,000 $63,947 $0 0.00%
    $50k or less 11 $445,000 $40,455 $0 0.00%
    $150k-250k 10 $590,000 $59,000 $0 0.00%

    Penn State Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 26 originations. The second most popular income band? $75k-100k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 95 $5,745,000 $60,474 $0 0.00%

    Penn State Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 95 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 86 $5,160,000 $60,000 $0 0.00%
    Not applicable 5 $425,000 $85,000 $0 0.00%
    Black 3 $135,000 $45,000 $0 0.00%
    Asian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.99%

    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
    97.89%

    Penn State 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
    Exempt 95 $5,745,000 $60,474

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 95 $5,745,000 $60,474