Strip Steel Community Federal Credit Union Mortgage Rates, Fees & Info
WEIRTON, WVLEI: 549300NPW3WIT7G01W32
Tax ID: 55-0379393
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Mortgage Data
Review & Overview
Strip Steel Community Federal Credit Union is a smaller credit union specializing in 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 an above average approval rate when compared to the average across all 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.
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Originations
1Origination Dollar Volume (All Markets)
$185,000Top 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) | 1 | $185,000 | $185,000 | $1,469 | 3.75% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1 | $185,000 | $185,000 | $1,469 | 3.75% |
For 2020, Strip Steel Community Federal Credit Union's most frequently originated type of loan was Conventional, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 1 | $185,000 | $185,000 | $1,469 | 3.75% |
For 2020, Strip Steel Community Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1 | $185,000 | $185,000 | $1,469 | 3.75% |
For 2020, Strip Steel Community Federal Credit Union's most frequently cited loan duration was 30 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $185,000 | $185,000 |
Strip Steel Community Federal Credit Union's average total fees were $1,469, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1 | $185,000 | $185,000 |
During 2020, 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 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 1 | $185,000 | $185,000 | $1,469 | 3.75% |
2020 saw Strip Steel Community Federal Credit Union place emphasis on $100k-200k loans with 1 originations, totaling $185,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 1 | $185,000 | $185,000 | $1,469 | 3.75% |
Strip Steel Community Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| <20% | 1 | $185,000 | $185,000 | $1,469 | 3.75% |
Strip Steel Community Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1 | $185,000 | $185,000 | $1,469 | 3.75% |
Approval Rates
Total approvals of all applications100.00%
Strip Steel Community 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 | 1 | $185,000 | $185,000 |