Pennsylvania State Employees Credit Union Mortgage Rates, Fees & Info

Harrisburg, PA

LEI: 549300PT6CCDYU4VHM41

Tax ID: 23-0961140

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Mortgage Data

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, Lancaster, Pittsburgh, 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 5.86% 3/28/24
30 Year Conventional Purchase 6.44% 3/28/24
30 Year Conventional Refi 6.20% 3/28/24
30 Year Cash-out Refi 6.31% 3/28/24
15 Year Conventional Purchase 5.92% 3/28/24
15 Year Conventional Refi 5.82% 3/28/24
15 Year Cash-out Refi 5.82% 3/28/24
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.

Pennsylvania State Employees Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Pennsylvania State Employees 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

5,511

Origination Dollar Volume (All Markets)

$630,855,000
Show all (21) 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
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1,216 $143,560,000 $118,059 $1,989 3.52%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 675 $103,055,000 $152,674 $2,220 3.63%
LANCASTER, PA (FHA|USDA|VA) 455 $55,125,000 $121,154 $1,965 3.61%
PITTSBURGH, PA (FHA|USDA|VA) 495 $52,395,000 $105,848 $1,901 3.63%
YORK-HANOVER, PA (FHA|USDA|VA) 308 $38,910,000 $126,331 $2,218 3.58%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 219 $27,735,000 $126,644 $2,030 3.61%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 227 $21,795,000 $96,013 $1,764 3.64%
READING, PA (FHA|USDA|VA) 176 $20,910,000 $118,807 $2,033 3.58%
STATE COLLEGE, PA (FHA|USDA|VA) 145 $17,925,000 $123,621 $1,973 3.62%
LEBANON, PA (FHA|USDA|VA) 154 $17,620,000 $114,416 $2,081 3.59%
Outside of Metro Areas 199 $17,365,000 $87,261 $1,694 3.62%
Pottsville, PA (FHA|USDA|VA) 152 $13,650,000 $89,803 $1,678 3.53%
WILLIAMSPORT, PA (FHA|USDA|VA) 110 $11,740,000 $106,727 $1,848 3.49%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 68 $8,030,000 $118,088 $2,047 3.55%
Sunbury, PA (FHA|USDA|VA) 79 $7,305,000 $92,468 $1,609 3.69%
Indiana, PA (FHA|USDA|VA) 74 $7,200,000 $97,297 $1,919 3.57%
Selinsgrove, PA (FHA|USDA|VA) 51 $5,725,000 $112,255 $2,186 3.42%
EAST STROUDSBURG, PA (FHA|USDA|VA) 58 $5,180,000 $89,310 $1,900 3.79%
ALTOONA, PA (FHA|USDA|VA) 67 $5,085,000 $75,896 $1,757 3.78%
JOHNSTOWN, PA (FHA|USDA|VA) 58 $5,040,000 $86,897 $1,569 3.68%
DuBois, PA (FHA|USDA|VA) 65 $4,965,000 $76,385 $1,782 3.63%
ERIE, PA (FHA|USDA|VA) 49 $4,915,000 $100,306 $2,093 3.66%
Huntingdon, PA (FHA|USDA|VA) 59 $4,695,000 $79,576 $1,502 3.70%
Lock Haven, PA (FHA|USDA|VA) 49 $4,685,000 $95,612 $2,059 3.53%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 37 $4,545,000 $122,838 $1,779 3.51%
GETTYSBURG, PA (FHA|USDA|VA) 42 $4,220,000 $100,476 $1,759 3.53%
Lewisburg, PA (FHA|USDA|VA) 28 $3,190,000 $113,929 $2,083 3.39%
Lewistown, PA (FHA|USDA|VA) 40 $2,760,000 $69,000 $1,372 3.72%
Meadville, PA (FHA|USDA|VA) 30 $1,940,000 $64,667 $1,771 3.66%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 22 $1,850,000 $84,091 $1,706 3.59%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 14 $1,490,000 $106,429 $2,108 3.57%
Somerset, PA (FHA|USDA|VA) 20 $1,320,000 $66,000 $1,505 3.69%
Oil City, PA (FHA|USDA|VA) 24 $1,320,000 $55,000 $1,228 3.77%
Warren, PA (FHA|USDA|VA) 14 $1,110,000 $79,286 $1,647 3.64%
New Castle, PA (FHA|USDA|VA) 15 $945,000 $63,000 $1,143 3.83%
Sayre, PA (FHA|USDA|VA) 7 $745,000 $106,429 $2,284 3.16%
St. Marys, PA (FHA|USDA|VA) 6 $490,000 $81,667 $1,968 3.69%
Bradford, PA (FHA|USDA|VA) 4 $320,000 $80,000 $2,203 3.19%
Pennsylvania State Employees Credit Union's top markets include Harrisburg, Philadelphia, Lancaster, Pittsburgh, and York among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,418 $500,340,000 $146,384 $1,954 3.48%
    HELOC 2,093 $130,515,000 $62,358 n/a 3.78%

    For 2020, Pennsylvania State Employees Credit Union's most frequently originated type of loan was Conventional, with 3,418 originations. Their 2nd most popular type was HELOC, with 2,093 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 1,761 $85,535,000 $48,572 $0 3.91%
    Cash Out Refi 1,195 $215,045,000 $179,954 $2,435 3.11%
    Refi 1,186 $191,490,000 $161,459 $2,321 3.26%
    Home Purchase 685 $100,405,000 $146,577 $2,658 3.44%
    Other 684 $38,380,000 $56,111 $11 4.34%

    For 2020, Pennsylvania State Employees Credit Union's most frequently cited loan purpose was Home Improvement, with 1,761 originations. The 2nd most popular reason was Cash Out Refi, with 1,195 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,652 $243,420,000 $147,349 $2,640 3.40%
    Other 1,300 $77,580,000 $59,677 $2,008 3.98%
    15 Year 1,120 $170,260,000 $152,018 $2,436 3.00%
    10 Year 714 $57,340,000 $80,308 $812 4.18%
    20 Year 412 $73,380,000 $178,107 $2,549 3.27%
    5 Year 311 $8,235,000 $26,479 $0 4.20%
    30+ year 2 $640,000 $320,000 $3,274 3.25%

    For 2020, Pennsylvania State Employees Credit Union's most frequently cited loan duration was 30 Year, with 1,652 originations. The 2nd most popular length was Other, with 1,300 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 3,285 $483,405,000 $147,155
    $2k-3k 35 $3,805,000 $108,714
    $3k-4k 31 $3,695,000 $119,194
    $1k-2k 30 $2,260,000 $75,333
    $5k+ 22 $4,860,000 $220,909
    $4k-5k 14 $2,270,000 $162,143

    Pennsylvania State Employees Credit Union's average total fees were $2,640, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3,285 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 3,059 $382,645,000 $125,088
    2.5-3% 1,126 $181,050,000 $160,790
    4-5% 1,021 $49,525,000 $48,506
    5-6% 286 $16,120,000 $56,364
    <2.5% 15 $1,335,000 $89,000

    During 2020, Pennsylvania State Employees Credit Union's average interest rate for loans was 3.40%, while their most frequently originated rate bucket for loans was 3-4%, with 3,059 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 2,957 $137,945,000 $46,650 $831 3.88%
    $100k-200k 1,592 $229,430,000 $144,114 $2,302 3.27%
    $200k-400k 887 $229,505,000 $258,743 $2,878 3.24%
    $400k-600k 75 $33,975,000 $453,000 $3,769 3.25%

    2020 saw Pennsylvania State Employees Credit Union place emphasis on $100,000 or less loans with 2,957 originations, totaling $137,945,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,594 $194,390,000 $121,951 $1,957 3.60%
    $50k-75k 1,122 $102,090,000 $90,989 $1,829 3.55%
    $75k-100k 1,105 $118,025,000 $106,810 $1,877 3.61%
    $150k-250k 996 $142,280,000 $142,851 $2,234 3.61%
    $50k or less 488 $37,140,000 $76,107 $1,724 3.61%
    $250k+ 203 $36,065,000 $177,660 $2,609 3.57%

    Pennsylvania State Employees Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,594 originations. The second most popular income band? $50k-75k, with 1,122 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,798 $210,900,000 $117,297 $1,997 3.52%
    <20% 1,037 $102,445,000 $98,790 $2,069 3.48%
    30-36% 1,002 $120,240,000 $120,000 $1,911 3.65%
    39% 167 $18,635,000 $111,587 $1,544 3.81%
    40% 161 $18,775,000 $116,615 $1,629 3.80%
    38% 157 $18,515,000 $117,930 $1,848 3.72%
    37% 155 $15,335,000 $98,935 $1,799 3.69%
    36% 144 $17,010,000 $118,125 $1,746 3.66%
    41% 141 $16,525,000 $117,199 $1,615 3.77%
    42% 130 $15,140,000 $116,462 $1,534 3.82%
    43% 114 $14,380,000 $126,140 $2,031 3.59%
    44% 108 $16,080,000 $148,889 $2,420 3.50%
    46% 79 $10,185,000 $128,924 $2,540 3.56%
    48% 67 $8,665,000 $129,328 $2,597 3.63%
    49% 66 $7,030,000 $106,515 $2,507 3.66%
    45% 61 $6,465,000 $105,984 $2,318 3.71%
    47% 60 $7,290,000 $121,500 $2,524 3.49%
    50-60% 55 $5,855,000 $106,455 $1,836 3.89%
    >60% 9 $1,385,000 $153,889 $2,679 3.61%

    Pennsylvania State Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,798 originations. The next most common DTI ratio? <20%, with 1,037 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,726 $537,500,000 $113,733 $1,929 3.60%
    Not provided 551 $66,255,000 $120,245 $2,097 3.51%
    Black 144 $14,260,000 $99,028 $1,958 3.69%
    Asian 41 $5,595,000 $136,463 $2,528 3.51%
    Asian Indian 19 $3,135,000 $165,000 $3,157 3.41%
    American Indian 18 $2,380,000 $132,222 $2,477 3.58%
    Korean 3 $705,000 $235,000 $3,220 3.17%
    Other Asian 4 $390,000 $97,500 $1,334 4.09%
    Filipino 2 $370,000 $185,000 $2,467 3.25%
    Other Pacific Islander 1 $145,000 $145,000 $2,028 3.00%
    Native Hawaiian or Islander 1 $65,000 $65,000 $2,224 3.25%
    Vietnamese 1 $55,000 $55,000 $0 4.12%

    Approval Rates

    Total approvals of all applications
    82.99%

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

    Pick Rate

    Approvals leading to origination
    75.10%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,511 $630,855,000 $114,472

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 27 $1,865,000 $69,074
    Single Family (1-4 Units):Site-Built 5,484 $628,990,000 $114,695

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 927 $64,295,000 $69,358 $821 3.87%
    40-60% 746 $91,930,000 $123,231 $2,052 3.35%
    60-80% 1,588 $288,150,000 $181,455 $2,498 3.23%
    80-100% 749 $138,955,000 $185,521 $2,615 3.38%
    Under 20% 1,501 $47,525,000 $31,662 $32 4.03%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    PINNACLE FINANCIAL PARTNERS, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    PINNACLE FINANCIAL PARTNERS, INC. Conventional home mortgage Trouble during payment process 1 25.0%
    PINNACLE FINANCIAL PARTNERS, INC. FHA mortgage Incorrect information on your report 1 25.0%
    PINNACLE FINANCIAL PARTNERS, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%