Strip Steel Community Federal Credit Union Mortgage Rates, Fees & Info
WEIRTON, WVLEI: 549300NPW3WIT7G01W32
Tax ID: 55-0379393
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Strip Steel Community Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Strip Steel Community Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Weirton.Strip Steel Community Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Strip Steel Community Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
5Origination Dollar Volume (All Markets)
$495,000Top 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 |
|---|---|---|---|---|---|
| WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) | 5 | $495,000 | $99,000 | $1,758 | 3.65% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 5 | $495,000 | $99,000 | $1,758 | 3.65% |
For 2018, Strip Steel Community Federal Credit Union's most frequently originated type of loan was Conventional, with 5 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 3 | $375,000 | $125,000 | $2,111 | 3.75% |
| Cash Out Refi | 2 | $120,000 | $60,000 | $1,229 | 3.50% |
For 2018, Strip Steel Community Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 3 originations. The 2nd most popular reason was Cash Out Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 3 | $375,000 | $125,000 | $2,111 | 3.75% |
| 10 Year | 1 | $55,000 | $55,000 | $1,221 | 3.75% |
| 15 Year | 1 | $65,000 | $65,000 | $1,237 | 3.25% |
For 2018, Strip Steel Community Federal Credit Union's most frequently cited loan duration was 30 Year, with 3 originations. The 2nd most popular length was 10 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 5 | $495,000 | $99,000 |
Strip Steel Community Federal Credit Union's average total fees were $2,111, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 5 | $495,000 | $99,000 |
During 2018, Strip Steel Community Federal Credit Union's average interest rate for loans was 3.75%, while their most frequently originated rate bucket for loans was 3-4%, with 5 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 3 | $205,000 | $68,333 | $1,393 | 3.58% |
| $100k-200k | 2 | $290,000 | $145,000 | $2,306 | 3.75% |
2018 saw Strip Steel Community Federal Credit Union place emphasis on $100,000 or less loans with 3 originations, totaling $205,000 in origination value.
Applicant Income
Strip Steel Community Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 3 originations. The second most popular income band? $100k-150k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 3 | $225,000 | $75,000 | $1,481 | 3.58% |
| <20% | 2 | $270,000 | $135,000 | $2,174 | 3.75% |
Strip Steel Community Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 3 originations. The next most common DTI ratio? <20%, with 2 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 5 | $495,000 | $99,000 | $1,758 | 3.65% |
Approval Rates
Total approvals of all applications66.67%
Strip Steel Community Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination80.00%
Strip Steel Community Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 5 | $495,000 | $99,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 5 | $495,000 | $99,000 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 1 | $55,000 | $55,000 | $1,221 | 3.75% |
| 60-80% | 4 | $440,000 | $110,000 | $1,893 | 3.63% |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Strive Lending, Inc. | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |