Pittsford Federal Credit Union Mortgage Rates, Fees & Info

Pittsford, NY

LEI: 549300P3STF5YYEJYO93

Tax ID: 23-7059570

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Pittsford Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Pittsford Federal Credit Union has a high proportion of conventional loans. Their top two markets are Rochester and Corning .

    Pittsford Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Pittsford 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 4.72% 12/16/24
    30 Year Conventional Purchase 6.32% 12/16/24
    30 Year Conventional Refi 6.28% 12/16/24
    30 Year Cash-out Refi 5.97% 12/16/24
    15 Year Conventional Purchase 5.62% 12/16/24
    15 Year Conventional Refi 5.43% 12/16/24
    15 Year Cash-out Refi 5.43% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Pittsford Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Pittsford Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    303

    Origination Dollar Volume (All Markets)

    $41,765,000

    Awards

    Pittsford Federal Credit Union 30 Year Conventional Loans silver Pittsford Federal Credit Union 30 Year Conventional Loans bronze
    Show all (2) awards

    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
    ROCHESTER, NY (FHA|USDA|VA) 301 $41,275,000 $137,126 $1,814 4.59%
    Corning, NY (FHA|USDA|VA) 2 $490,000 $245,000 $1,892 4.06%
    Pittsford Federal Credit Union's top markets include Rochester and Corning among others.

    Their top states include:
  • New York (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Pittsford Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Pittsford Federal Credit Union
    Similarity Rank: 44
    VISIONS
    Similarity Rank: 75
    Five Star Bank
    Similarity Rank: 104
    USNY Bank
    Similarity Rank: 252
    FAMILY FIRST OF NY
    Similarity Rank: 306
    PARAGON HOME LOANS INC.
    Similarity Rank: 550
    Fairport Savings Bank
    Similarity Rank: 588
    ESL Federal Credit Union
    Similarity Rank: 636
    THE SUMMIT Federal Credit Union
    Similarity Rank: 795
    The Lyons National Bank
    Similarity Rank: 1300

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 303 $41,765,000 $137,838 $1,815 4.59%

    For 2018, Pittsford Federal Credit Union's most frequently originated type of loan was Conventional, with 303 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 148 $26,710,000 $180,473 $2,894 4.33%
    Cash Out Refi 137 $12,135,000 $88,577 $631 4.94%
    Refi 18 $2,920,000 $162,222 $1,955 4.01%

    For 2018, Pittsford Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 148 originations. The 2nd most popular reason was Cash Out Refi, with 137 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 94 $16,510,000 $175,638 $3,068 4.49%
    20 Year 83 $14,165,000 $170,663 $1,974 4.37%
    10 Year 66 $3,820,000 $57,879 $324 5.14%
    15 Year 36 $6,620,000 $183,889 $2,121 4.06%
    5 Year 23 $615,000 $26,739 $0 5.00%
    Other 1 $35,000 $35,000 $0 5.25%

    For 2018, Pittsford Federal Credit Union's most frequently cited loan duration was 30 Year, with 94 originations. The 2nd most popular length was 20 Year, with 83 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 280 $36,190,000 $129,250
    $1k-2k 12 $2,680,000 $223,333
    $2k-3k 6 $1,400,000 $233,333
    $3k-4k 5 $1,495,000 $299,000

    Pittsford Federal Credit Union's average total fees were $3,068, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 280 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 151 $23,455,000 $155,331
    5-6% 71 $3,825,000 $53,873
    3-4% 68 $13,540,000 $199,118
    6-7% 9 $205,000 $22,778
    2.5-3% 4 $740,000 $185,000

    During 2018, Pittsford Federal Credit Union's average interest rate for loans was 4.49%, while their most frequently originated rate bucket for loans was 4-5%, with 151 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 118 $4,990,000 $42,288 $510 5.15%
    $100k-200k 108 $15,300,000 $141,667 $2,348 4.31%
    $200k-400k 70 $18,300,000 $261,429 $3,043 4.13%
    $400k-600k 6 $2,540,000 $423,333 $3,374 3.88%
    $600k-1MM 1 $635,000 $635,000 $2,811 3.75%

    2018 saw Pittsford Federal Credit Union place emphasis on $100,000 or less loans with 118 originations, totaling $4,990,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 74 $11,560,000 $156,216 $1,948 4.48%
    $50k-75k 69 $7,175,000 $103,986 $1,753 4.72%
    $150k-250k 55 $9,065,000 $164,818 $1,773 4.70%
    $75k-100k 47 $5,495,000 $116,915 $1,663 4.69%
    $50k or less 36 $2,970,000 $82,500 $1,707 4.49%
    $250k+ 20 $5,190,000 $259,500 $2,273 4.12%

    Pittsford Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 74 originations. The second most popular income band? $50k-75k, with 69 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 71 $11,445,000 $161,197 $2,053 4.45%
    30-36% 60 $7,860,000 $131,000 $1,847 4.69%
    <20% 30 $3,770,000 $125,667 $1,676 4.44%
    50-60% 21 $2,805,000 $133,571 $1,479 4.64%
    39% 14 $2,020,000 $144,286 $1,847 4.68%
    43% 13 $1,965,000 $151,154 $1,679 4.72%
    38% 12 $1,930,000 $160,833 $2,260 4.29%
    44% 11 $1,125,000 $102,273 $1,427 4.88%
    42% 10 $1,120,000 $112,000 $1,518 4.73%
    40% 9 $1,115,000 $123,889 $1,220 4.90%
    37% 9 $1,295,000 $143,889 $2,403 4.56%
    36% 7 $885,000 $126,429 $1,626 4.71%
    48% 6 $510,000 $85,000 $1,010 5.27%
    46% 6 $670,000 $111,667 $2,429 4.60%
    41% 6 $740,000 $123,333 $2,511 4.58%
    47% 5 $765,000 $153,000 $1,381 4.60%
    49% 5 $615,000 $123,000 $1,431 4.73%
    45% 4 $380,000 $95,000 $1,257 4.25%
    >60% 4 $750,000 $187,500 $1,879 3.53%

    Pittsford Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 71 originations. The next most common DTI ratio? 30-36%, with 60 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 237 $33,785,000 $142,553 $1,980 4.51%
    Not provided 54 $6,090,000 $112,778 $970 4.93%
    Asian 5 $915,000 $183,000 $2,720 4.13%
    Asian Indian 2 $530,000 $265,000 $3,852 4.38%
    Black 3 $365,000 $121,667 $2,324 5.13%
    Other Asian 1 $45,000 $45,000 $0 5.25%
    Chinese 1 $35,000 $35,000 $0 5.25%

    Approval Rates

    Total approvals of all applications
    95.96%

    Pittsford 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
    81.85%

    Pittsford Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 303 $41,765,000 $137,838

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 303 $41,765,000 $137,838

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 40 $3,020,000 $75,500 $583 5.06%
    40-60% 19 $3,025,000 $159,211 $2,082 4.07%
    60-80% 83 $16,535,000 $199,217 $2,659 4.12%
    80-100% 95 $17,205,000 $181,105 $2,790 4.36%
    Over 100% 1 $345,000 $345,000 $1,352 4.13%
    Under 20% 65 $1,635,000 $25,154 $0 5.38%