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 Cash Out Refi and Home Purchase loans. Pittsford Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Corning, and Batavia among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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.

    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.

    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

    335

    Origination Dollar Volume (All Markets)

    $50,135,000

    Awards

    Pittsford Federal Credit Union 30 Year Conventional Loans gold Pittsford Federal Credit Union 30 Year Conventional Loans bronze Pittsford Federal Credit Union 30 Year Conventional Loans gold
    Show all (3) 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) 331 $49,475,000 $149,471 $1,590 4.06%
    Corning, NY (FHA|USDA|VA) 1 $335,000 $335,000 $1,854 3.00%
    Batavia, NY (FHA|USDA|VA) 2 $220,000 $110,000 $1,769 3.56%
    Outside of Metro Areas 1 $105,000 $105,000 $0 5.25%
    Pittsford Federal Credit Union's top markets include Rochester, Corning, and Batavia 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: 36
    ESL Federal Credit Union
    Similarity Rank: 125
    THE SUMMIT Federal Credit Union
    Similarity Rank: 195
    Five Star Bank
    Similarity Rank: 255
    FAMILY FIRST OF NY
    Similarity Rank: 288
    Ukrainian Federal Credit Union
    Similarity Rank: 423
    Fairport Savings Bank
    Similarity Rank: 549
    VISIONS
    Similarity Rank: 725
    PARAGON HOME LOANS INC.
    Similarity Rank: 897
    The Lyons National Bank
    Similarity Rank: 987

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 335 $50,135,000 $149,657 $1,587 4.06%

    For 2019, Pittsford Federal Credit Union's most frequently originated type of loan was Conventional, with 335 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 197 $24,605,000 $124,898 $1,066 4.30%
    Home Purchase 108 $19,670,000 $182,130 $2,449 3.81%
    Refi 29 $5,845,000 $201,552 $1,911 3.34%
    Other 1 $15,000 $15,000 $0 5.00%

    For 2019, Pittsford Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 197 originations. The 2nd most popular reason was Home Purchase, with 108 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 98 $17,780,000 $181,429 $1,792 3.84%
    15 Year 72 $14,650,000 $203,472 $1,859 3.30%
    10 Year 71 $5,645,000 $79,507 $570 4.76%
    30 Year 65 $11,155,000 $171,615 $2,743 4.02%
    5 Year 29 $905,000 $31,207 $64 5.05%

    For 2019, Pittsford Federal Credit Union's most frequently cited loan duration was 20 Year, with 98 originations. The 2nd most popular length was 15 Year, with 72 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 316 $45,870,000 $145,158
    $1k-2k 15 $3,285,000 $219,000
    $2k-3k 3 $655,000 $218,333
    $4k-5k 1 $325,000 $325,000

    Pittsford Federal Credit Union's average total fees were $2,743, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 316 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 158 $31,070,000 $196,646
    4-5% 72 $7,830,000 $108,750
    5-6% 48 $2,040,000 $42,500
    2.5-3% 45 $8,795,000 $195,444
    6-7% 12 $400,000 $33,333

    During 2019, Pittsford Federal Credit Union's average interest rate for loans was 4.02%, while their most frequently originated rate bucket for loans was 3-4%, with 158 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 138 $20,380,000 $147,681 $1,978 3.71%
    $100,000 or less 110 $4,710,000 $42,818 $476 4.97%
    $200k-400k 81 $21,875,000 $270,062 $2,332 3.46%
    $400k-600k 5 $2,465,000 $493,000 $2,612 3.43%
    $600k-1MM 1 $705,000 $705,000 $3,141 3.50%

    2019 saw Pittsford Federal Credit Union place emphasis on $100k-200k loans with 138 originations, totaling $20,380,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 86 $14,060,000 $163,488 $1,682 4.03%
    $75k-100k 60 $8,130,000 $135,500 $1,816 4.01%
    $50k-75k 59 $5,725,000 $97,034 $1,331 4.30%
    $150k-250k 57 $11,125,000 $195,175 $1,439 3.92%
    $50k or less 44 $3,950,000 $89,773 $1,492 4.25%
    $250k+ 28 $7,100,000 $253,571 $1,844 3.65%

    Pittsford Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 86 originations. The second most popular income band? $75k-100k, with 60 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 86 $13,520,000 $157,209 $1,748 3.82%
    30-36% 64 $9,150,000 $142,969 $1,611 4.17%
    <20% 33 $6,255,000 $189,545 $1,947 3.45%
    50-60% 16 $1,760,000 $110,000 $873 4.64%
    41% 13 $1,335,000 $102,692 $1,451 4.46%
    37% 12 $2,710,000 $225,833 $2,105 3.68%
    38% 12 $1,800,000 $150,000 $1,583 4.02%
    42% 11 $1,615,000 $146,818 $1,308 4.56%
    40% 11 $1,525,000 $138,636 $1,239 4.53%
    >60% 10 $1,560,000 $156,000 $1,187 4.20%
    43% 9 $1,195,000 $132,778 $1,656 4.28%
    39% 8 $720,000 $90,000 $946 5.16%
    44% 8 $1,090,000 $136,250 $1,715 3.73%
    36% 8 $1,300,000 $162,500 $1,693 4.08%
    47% 7 $1,055,000 $150,714 $1,147 4.07%
    45% 7 $655,000 $93,571 $1,073 4.79%
    46% 7 $965,000 $137,857 $1,224 4.05%
    48% 5 $725,000 $145,000 $2,111 4.03%
    49% 2 $370,000 $185,000 $1,919 3.81%

    Pittsford Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 86 originations. The next most common DTI ratio? 30-36%, with 64 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 290 $43,070,000 $148,517 $1,571 4.05%
    Not provided 25 $3,165,000 $126,600 $1,186 4.39%
    Asian 14 $2,880,000 $205,714 $2,282 3.68%
    Asian Indian 2 $460,000 $230,000 $2,871 3.38%
    American Indian 2 $400,000 $200,000 $2,213 4.50%
    Black 2 $160,000 $80,000 $2,100 4.00%

    Approval Rates

    Total approvals of all applications
    96.45%

    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
    84.78%

    Pittsford Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 335 $50,135,000 $149,657

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 335 $50,135,000 $149,657

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 34 $3,120,000 $91,765 $726 4.76%
    40-60% 47 $7,095,000 $150,957 $1,781 3.56%
    60-80% 84 $17,480,000 $208,095 $2,227 3.46%
    80-100% 105 $20,295,000 $193,286 $2,200 3.77%
    Over 100% 1 $335,000 $335,000 $1,854 3.00%
    Under 20% 64 $1,810,000 $28,281 $25 5.34%