First Commonwealth Federal Credit Union Mortgage Rates, Fees & Info

Bethlehem, PA

LEI: 549300Q9TCZDLU48CG18

Tax ID: 23-1568331

5 stars - Updated: 4/5/25 - out of 5 stars, based on 34 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    First Commonwealth Federal Credit Union is a smaller credit union specializing in Home Purchase loans. First Commonwealth Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Allentown, Philadelphia, Reading, New York, and Pottsville among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Commonwealth Federal 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. First Commonwealth 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) 6.53% 4/5/25
    30 Year Conventional Purchase 7.09% 4/5/25
    30 Year Conventional Refi 6.75% 4/5/25
    30 Year Cash-out Refi 6.95% 4/5/25
    30 Year FHA Purchase 6.72% 4/5/25
    15 Year Conventional Purchase 6.55% 4/5/25
    15 Year Conventional Refi 6.11% 4/5/25
    15 Year Cash-out Refi 6.11% 4/5/25
    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.

    First Commonwealth 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 First Commonwealth 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

    1,135

    Origination Dollar Volume (All Markets)

    $131,255,000

    Awards

    First Commonwealth Federal Credit Union 30 Year Conventional Loans silver First Commonwealth Federal Credit Union 30 Year Conventional Loans silver
    Show all (2) awards

    Relative Rate

    First Commonwealth Federal Credit Union's average 30 year fixed mortgage rate was 6.72%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.17%.

    Relative Fees (Closing Costs)

    First Commonwealth Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,905.

    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 $8,356.

    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
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 860 $87,270,000 $101,477 $665 6.96%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 33 $19,345,000 $586,212 $1,430 7.09%
    READING, PA (FHA|USDA|VA) 172 $15,620,000 $90,814 $642 6.83%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 10 $2,950,000 $295,000 $3,250 7.09%
    Pottsville, PA (FHA|USDA|VA) 21 $2,335,000 $111,190 $2,321 7.21%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 14 $1,110,000 $79,286 $782 7.41%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 6 $810,000 $135,000 $779 7.64%
    LANCASTER, PA (FHA|USDA|VA) 6 $700,000 $116,667 $1,625 6.52%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $255,000 $255,000 $0 7.37%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $215,000 $215,000 $4,057 5.38%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.65%
    PITTSBURGH, PA (FHA|USDA|VA) 2 $110,000 $55,000 $5,106 6.43%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $105,000 $105,000 $3,439 7.00%
    Sunbury, PA (FHA|USDA|VA) 2 $100,000 $50,000 $1,566 6.31%
    Outside of Metro Areas 2 $90,000 $45,000 $0 6.58%
    LEBANON, PA (FHA|USDA|VA) 2 $80,000 $40,000 $0 7.70%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.49%
    First Commonwealth Federal Credit Union's top markets include Allentown, Philadelphia, Reading, New York, and Pottsville among others.

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

    • Similar Lenders

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

    ESSA Bank & Trust
    Similarity Rank: 198
    Customers Bank
    Similarity Rank: 374
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 380
    Diamond Credit Union
    Similarity Rank: 437
    MEMBERS 1ST FEDERAL CREDIT UNION
    Similarity Rank: 490
    Tompkins Trust Company
    Similarity Rank: 624
    State Financial Network, LLC
    Similarity Rank: 799
    Penn Community Bank
    Similarity Rank: 814
    Northeast Equitable Mortgage, LLC
    Similarity Rank: 981
    Quaint Oak Mortgage, LLC
    Similarity Rank: 1022

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 756 $97,920,000 $129,524 $760 6.89%
    HELOC 379 $33,335,000 $87,955 n/a 7.08%

    For 2024, First Commonwealth Federal Credit Union's most frequently originated type of loan was Conventional, with 756 originations. Their 2nd most popular type was HELOC, with 379 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 345 $24,105,000 $69,870 $31 7.12%
    Home Improvement 312 $21,130,000 $67,724 $41 6.92%
    Cash Out Refi 207 $21,785,000 $105,242 $176 7.09%
    Refi 149 $15,675,000 $105,201 $497 6.51%
    Home Purchase 122 $48,560,000 $398,033 $4,992 6.87%

    For 2024, First Commonwealth Federal Credit Union's most frequently cited loan purpose was Other, with 345 originations. The 2nd most popular reason was Home Improvement, with 312 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 535 $67,725,000 $126,589 $0 7.09%
    20 Year 210 $20,970,000 $99,857 $152 7.69%
    10 Year 187 $10,795,000 $57,727 $20 6.41%
    5 Year 96 $2,940,000 $30,625 $0 5.88%
    30 Year 95 $25,795,000 $271,526 $4,905 6.72%
    30+ year 5 $2,555,000 $511,000 $7,322 6.50%
    Other 4 $400,000 $100,000 $0 6.66%
    3 Year 3 $75,000 $25,000 $0 6.16%

    For 2024, First Commonwealth Federal Credit Union's most frequently cited loan duration was 15 Year, with 535 originations. The 2nd most popular length was 20 Year, with 210 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 682 $65,440,000 $95,953
    $1k-2k 4 $1,250,000 $312,500
    $5k+ 4 $1,340,000 $335,000
    $4k-5k 3 $565,000 $188,333
    $2k-3k 1 $85,000 $85,000
    $3k-4k 1 $105,000 $105,000

    First Commonwealth Federal Credit Union's average total fees were $4,905, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 682 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 333 $45,265,000 $135,931
    5-6% 307 $26,395,000 $85,977
    7-8% 303 $45,185,000 $149,125
    Over 8% 190 $14,070,000 $74,053
    4-5% 2 $340,000 $170,000

    During 2024, First Commonwealth Federal Credit Union's average interest rate for loans was 6.72%, while their most frequently originated rate bucket for loans was 6-7%, with 333 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 749 $36,385,000 $48,578 $42 7.00%
    $100k-200k 241 $32,425,000 $134,544 $1,062 6.97%
    $200k-400k 113 $29,045,000 $257,035 $3,542 6.62%
    $400k-600k 19 $8,985,000 $472,895 $6,693 6.73%
    $600k-1MM 8 $6,100,000 $762,500 $7,440 6.81%
    $1MM+ 5 $18,315,000 $3,663,000 $8,482 7.18%

    2024 saw First Commonwealth Federal Credit Union place emphasis on $100,000 or less loans with 749 originations, totaling $36,385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 300 $29,840,000 $99,467 $638 7.07%
    $50k-75k 247 $18,425,000 $74,595 $857 6.88%
    $75k-100k 214 $19,120,000 $89,346 $924 6.94%
    $150k-250k 209 $24,675,000 $118,062 $685 6.92%
    $50k or less 84 $4,120,000 $49,048 $251 6.99%
    $250k+ 47 $10,505,000 $223,511 $1,923 6.57%

    First Commonwealth Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 300 originations. The second most popular income band? $50k-75k, with 247 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 239 $21,235,000 $88,849 $787 6.66%
    30-36% 196 $18,240,000 $93,061 $916 6.83%
    44% 102 $9,000,000 $88,235 $302 7.58%
    <20% 92 $8,220,000 $89,348 $635 6.41%
    45% 81 $7,615,000 $94,012 $276 7.47%
    43% 54 $5,060,000 $93,704 $463 7.31%
    42% 45 $4,675,000 $103,889 $1,043 6.87%
    39% 43 $4,245,000 $98,721 $1,238 6.85%
    36% 43 $5,255,000 $122,209 $1,685 6.99%
    38% 41 $4,005,000 $97,683 $824 6.92%
    41% 38 $4,500,000 $118,421 $825 7.11%
    40% 36 $2,950,000 $81,944 $418 7.36%
    37% 36 $3,240,000 $90,000 $417 6.85%
    46% 23 $2,085,000 $90,652 $195 6.79%
    47% 10 $2,000,000 $200,000 $2,235 6.87%
    50-60% 3 $105,000 $35,000 $0 6.70%
    48% 2 $530,000 $265,000 $3,255 7.37%
    >60% 2 $260,000 $130,000 $0 6.56%
    49% 1 $525,000 $525,000 $16,787 5.88%

    First Commonwealth Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 239 originations. The next most common DTI ratio? 30-36%, with 196 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 899 $87,145,000 $96,935 $810 6.86%
    Not applicable 33 $26,335,000 $798,030 $0 7.34%
    Black 94 $8,880,000 $94,468 $953 7.40%
    Not provided 76 $5,820,000 $76,579 $66 7.34%
    Asian 15 $1,685,000 $112,333 $504 6.72%
    American Indian 9 $615,000 $68,333 $0 7.10%
    Asian Indian 3 $495,000 $165,000 $0 6.66%
    Native Hawaiian or Islander 3 $165,000 $55,000 $0 6.03%
    Other Pacific Islander 2 $110,000 $55,000 $0 7.56%
    Other Asian 1 $5,000 $5,000 $0 5.99%

    Approval Rates

    Total approvals of all applications
    79.09%

    First Commonwealth Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    78.15%

    First Commonwealth Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,135 $131,255,000 $115,643

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,135 $131,255,000 $115,643

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 336 $32,350,000 $96,280 $111 7.25%
    40-60% 79 $26,915,000 $340,696 $720 6.82%
    60-80% 94 $27,190,000 $289,255 $3,316 6.73%
    80-100% 78 $20,440,000 $262,051 $4,757 6.79%
    Under 20% 548 $24,360,000 $44,453 $4 6.85%