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 an above average pick rate when compared to similar lenders.
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Originations
166Origination Dollar Volume (All Markets)
$17,870,000Top 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) | 119 | $13,355,000 | $112,227 | $0 | 0.00% |
| Outside of Metro Areas | 47 | $4,515,000 | $96,064 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 166 | $17,870,000 | $107,651 | $0 | 0.00% |
For 2022, Penn State Federal Credit Union's most frequently originated type of loan was Conventional, with 166 originations.
Loan Reason
For 2022, Penn State Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 52 originations. The 2nd most popular reason was Cash Out Refi, with 49 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 166 | $17,870,000 | $107,651 | $0 | 0.00% |
For 2022, Penn State Federal Credit Union's most frequently cited loan duration was Other, with 166 originations.
Loan Sizing
2022 saw Penn State Federal Credit Union place emphasis on $100,000 or less loans with 102 originations, totaling $4,870,000 in origination value.
Applicant Income
Penn State Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 36 originations. The second most popular income band? $100k-150k, with 34 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 166 | $17,870,000 | $107,651 | $0 | 0.00% |
Penn State Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 166 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.37%
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 origination92.17%
Penn State Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 166 | $17,870,000 | $107,651 |