Pennsylvania State Employees Credit Union Mortgage Rates, Fees & Info

Harrisburg, PA

LEI: 549300PT6CCDYU4VHM41

Tax ID: 23-0961140

5 stars - out of 5 stars, based on 76 reviews

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

Jump to:

Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Pennsylvania State Employees Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Pennsylvania State Employees Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Harrisburg, Philadelphia, Pittsburgh, Lancaster, and York among others. We have data for 38 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Pennsylvania State Employees Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Pennsylvania State Employees 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) 6.69% 3/19/23
    30 Year Conventional Purchase 6.65% 3/19/23
    30 Year Conventional Refi 6.56% 3/19/23
    30 Year Cash-out Refi 6.52% 3/19/23
    15 Year Conventional Purchase 6.37% 3/19/23
    15 Year Conventional Refi 6.09% 3/19/23
    15 Year Cash-out Refi 6.09% 3/19/23
    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.


    Originations

    5,748

    Origination Dollar Volume (All Markets)

    $623,130,000
    Show all (26) awards

    Relative Rate

    Pennsylvania State Employees Credit Union's average 30 year fixed mortgage rate was 3.32%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.17%.

    Relative Fees (Closing Costs)

    Pennsylvania State Employees Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,696.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1,186 $126,910,000 $107,007 $2,024 3.29%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 694 $97,450,000 $140,418 $2,179 3.35%
    PITTSBURGH, PA (FHA|USDA|VA) 531 $54,565,000 $102,759 $1,918 3.32%
    LANCASTER, PA (FHA|USDA|VA) 452 $53,050,000 $117,367 $2,017 3.31%
    YORK-HANOVER, PA (FHA|USDA|VA) 305 $32,565,000 $106,770 $1,863 3.35%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 246 $30,260,000 $123,008 $2,084 3.36%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 264 $25,130,000 $95,189 $1,961 3.29%
    READING, PA (FHA|USDA|VA) 197 $23,715,000 $120,381 $1,914 3.29%
    Outside of Metro Areas 224 $18,910,000 $84,420 $1,851 3.27%
    LEBANON, PA (FHA|USDA|VA) 140 $16,710,000 $119,357 $1,877 3.27%
    STATE COLLEGE, PA (FHA|USDA|VA) 135 $15,655,000 $115,963 $2,267 3.28%
    Pottsville, PA (FHA|USDA|VA) 161 $13,845,000 $85,994 $1,674 3.34%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 86 $9,840,000 $114,419 $1,907 3.24%
    WILLIAMSPORT, PA (FHA|USDA|VA) 87 $8,805,000 $101,207 $1,819 3.36%
    Sunbury, PA (FHA|USDA|VA) 90 $7,400,000 $82,222 $1,720 3.32%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 63 $7,325,000 $116,270 $2,169 3.26%
    Indiana, PA (FHA|USDA|VA) 80 $7,180,000 $89,750 $1,938 3.29%
    Huntingdon, PA (FHA|USDA|VA) 72 $6,810,000 $94,583 $1,798 3.26%
    GETTYSBURG, PA (FHA|USDA|VA) 50 $6,070,000 $121,400 $1,955 3.25%
    DuBois, PA (FHA|USDA|VA) 77 $5,955,000 $77,338 $1,984 3.23%
    ALTOONA, PA (FHA|USDA|VA) 64 $5,840,000 $91,250 $1,702 3.28%
    Selinsgrove, PA (FHA|USDA|VA) 52 $5,340,000 $102,692 $2,221 3.19%
    Lock Haven, PA (FHA|USDA|VA) 57 $5,305,000 $93,070 $1,912 3.29%
    ERIE, PA (FHA|USDA|VA) 53 $5,115,000 $96,509 $1,989 3.29%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 43 $4,315,000 $100,349 $2,000 3.21%
    JOHNSTOWN, PA (FHA|USDA|VA) 59 $4,005,000 $67,881 $1,665 3.35%
    Lewisburg, PA (FHA|USDA|VA) 31 $3,975,000 $128,226 $2,037 3.07%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 31 $3,755,000 $121,129 $2,238 3.18%
    Lewistown, PA (FHA|USDA|VA) 39 $2,875,000 $73,718 $2,026 3.11%
    Meadville, PA (FHA|USDA|VA) 41 $2,755,000 $67,195 $1,840 3.19%
    Oil City, PA (FHA|USDA|VA) 32 $2,710,000 $84,688 $1,842 3.24%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 19 $1,875,000 $98,684 $1,772 3.25%
    Warren, PA (FHA|USDA|VA) 23 $1,795,000 $78,043 $1,518 3.30%
    Somerset, PA (FHA|USDA|VA) 21 $1,565,000 $74,524 $1,437 3.52%
    New Castle, PA (FHA|USDA|VA) 19 $1,415,000 $74,474 $1,630 3.47%
    St. Marys, PA (FHA|USDA|VA) 9 $875,000 $97,222 $2,207 3.24%
    Sayre, PA (FHA|USDA|VA) 7 $825,000 $117,857 $2,288 3.25%
    Bradford, PA (FHA|USDA|VA) 8 $640,000 $80,000 $2,142 2.92%
    Pennsylvania State Employees Credit Union's top markets include Harrisburg, Philadelphia, Pittsburgh, Lancaster, and York among others.

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

    • Similar Lenders

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

    Widget Federal Credit Union
    Similarity Rank: 36
    POINT BREEZE
    Similarity Rank: 63
    CROSS VALLEY FEDERAL CREDIT UNION
    Similarity Rank: 159
    The Honesdale National Bank
    Similarity Rank: 175
    BELLCO
    Similarity Rank: 176
    Marquette Savings Bank
    Similarity Rank: 198
    TRI BORO
    Similarity Rank: 208
    Reliance Savings Bank
    Similarity Rank: 304
    HORIZON Federal Credit Union
    Similarity Rank: 372
    Louviers Federal Credit Union
    Similarity Rank: 410

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,152 $444,120,000 $140,901 $1,973 3.23%
    HELOC 2,596 $179,010,000 $68,956 n/a 3.39%

    For 2021, Pennsylvania State Employees Credit Union's most frequently originated type of loan was Conventional, with 3,152 originations. Their 2nd most popular type was HELOC, with 2,596 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 1,813 $96,585,000 $53,274 $13 3.57%
    Other 1,165 $81,065,000 $69,584 $13 3.66%
    Cash Out Refi 1,115 $203,415,000 $182,435 $2,534 2.88%
    Refi 1,025 $147,685,000 $144,083 $2,303 2.97%
    Home Purchase 630 $94,380,000 $149,810 $2,800 3.18%

    For 2021, Pennsylvania State Employees Credit Union's most frequently cited loan purpose was Home Improvement, with 1,813 originations. The 2nd most popular reason was Other, with 1,165 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,495 $364,105,000 $104,179 $2,696 3.32%
    15 Year 898 $127,110,000 $141,548 $2,540 2.73%
    10 Year 719 $55,965,000 $77,837 $748 3.91%
    20 Year 367 $67,395,000 $183,638 $2,589 2.99%
    5 Year 268 $8,540,000 $31,866 $12 3.73%
    1 Year 1 $15,000 $15,000 $0 4.87%

    For 2021, Pennsylvania State Employees Credit Union's most frequently cited loan duration was 30 Year, with 3,495 originations. The 2nd most popular length was 15 Year, with 898 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,976 $420,670,000 $141,354
    $2k-3k 55 $6,325,000 $115,000
    $3k-4k 45 $6,075,000 $135,000
    $1k-2k 33 $2,765,000 $83,788
    $5k+ 30 $6,600,000 $220,000
    $4k-5k 13 $1,685,000 $129,615

    Pennsylvania State Employees Credit Union's average total fees were $2,696, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,976 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 3,718 $350,910,000 $94,381
    2.5-3% 1,128 $190,760,000 $169,113
    <2.5% 411 $59,795,000 $145,487
    4-5% 406 $17,740,000 $43,695
    5-6% 85 $3,925,000 $46,176

    During 2021, Pennsylvania State Employees Credit Union's average interest rate for loans was 3.32%, while their most frequently originated rate bucket for loans was 3-4%, with 3,718 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 3,250 $156,850,000 $48,262 $860 3.51%
    $100k-200k 1,656 $235,970,000 $142,494 $2,383 3.04%
    $200k-400k 781 $201,605,000 $258,137 $2,969 3.03%
    $400k-600k 60 $27,260,000 $454,333 $3,877 3.06%
    $1MM+ 1 $1,445,000 $1,445,000 $0 3.75%

    2021 saw Pennsylvania State Employees Credit Union place emphasis on $100,000 or less loans with 3,250 originations, totaling $156,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,602 $188,680,000 $117,778 $1,980 3.32%
    $50k-75k 1,264 $115,610,000 $91,464 $1,995 3.22%
    $75k-100k 1,204 $128,500,000 $106,728 $2,006 3.29%
    $150k-250k 995 $125,805,000 $126,437 $1,990 3.38%
    $50k or less 522 $38,400,000 $73,563 $1,741 3.31%
    $250k+ 161 $26,135,000 $162,329 $2,417 3.33%

    Pennsylvania State Employees Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,602 originations. The second most popular income band? $50k-75k, with 1,264 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,683 $183,585,000 $109,082 $2,102 3.23%
    30-36% 1,112 $127,140,000 $114,335 $1,894 3.32%
    <20% 978 $84,320,000 $86,217 $1,843 3.24%
    37% 185 $21,225,000 $114,730 $1,938 3.43%
    36% 180 $22,220,000 $123,444 $1,894 3.33%
    40% 178 $21,500,000 $120,787 $1,972 3.41%
    50-60% 176 $15,450,000 $87,784 $1,328 3.48%
    38% 159 $18,775,000 $118,082 $1,727 3.49%
    41% 157 $16,915,000 $107,739 $1,505 3.55%
    42% 150 $17,260,000 $115,067 $1,563 3.43%
    39% 146 $16,170,000 $110,753 $1,601 3.54%
    44% 128 $17,170,000 $134,141 $2,637 3.08%
    43% 120 $15,760,000 $131,333 $2,083 3.22%
    47% 88 $9,530,000 $108,295 $2,448 3.35%
    45% 75 $10,765,000 $143,533 $2,843 3.21%
    48% 71 $7,795,000 $109,789 $2,844 3.21%
    46% 70 $7,730,000 $110,429 $2,958 3.27%
    49% 68 $7,670,000 $112,794 $2,078 3.33%
    >60% 24 $2,150,000 $89,583 $931 3.48%

    Pennsylvania State Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,683 originations. The next most common DTI ratio? 30-36%, with 1,112 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,839 $521,155,000 $107,699 $1,968 3.30%
    Not provided 627 $69,575,000 $110,965 $1,941 3.32%
    Black 186 $19,860,000 $106,774 $2,154 3.32%
    Asian 44 $6,570,000 $149,318 $2,212 3.35%
    Asian Indian 15 $1,615,000 $107,667 $2,011 3.31%
    American Indian 19 $1,465,000 $77,105 $1,209 3.77%
    Other Asian 5 $605,000 $121,000 $2,664 2.97%
    Native Hawaiian or Islander 4 $580,000 $145,000 $2,369 3.00%
    Chinese 1 $465,000 $465,000 $3,627 3.13%
    Korean 2 $380,000 $190,000 $2,610 2.94%
    Other Pacific Islander 2 $300,000 $150,000 $2,334 2.75%
    Japanese 2 $300,000 $150,000 $5,295 2.94%
    Vietnamese 2 $260,000 $130,000 $1,136 4.12%

    Approval Rates

    Total approvals of all applications
    82.34%

    Pennsylvania State Employees Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    79.51%

    Pennsylvania State Employees Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,748 $623,130,000 $108,408

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    5,748 $623,130,000 $108,408

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,098 $82,240,000 $74,900 $876 3.50%
    40-60% 801 $104,505,000 $130,468 $2,178 3.04%
    60-80% 1,436 $257,180,000 $179,095 $2,608 2.98%
    80-100% 630 $112,840,000 $179,111 $2,651 3.13%
    Under 20% 1,783 $66,365,000 $37,221 $47 3.62%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    PENNSYLVANIA HOUSING FINANCE AGENCY Conventional home mortgage Incorrect information on your report 1 11.1%
    PENNSYLVANIA HOUSING FINANCE AGENCY Conventional home mortgage Struggling to pay mortgage 1 11.1%
    PENNSYLVANIA HOUSING FINANCE AGENCY Conventional home mortgage Trouble during payment process 2 22.2%
    PENNSYLVANIA HOUSING FINANCE AGENCY FHA mortgage Struggling to pay mortgage 3 33.3%
    PENNSYLVANIA HOUSING FINANCE AGENCY FHA mortgage Trouble during payment process 2 22.2%