People's Alliance Federal Credit Union Mortgage Rates, Fees & Info
Hauppauge, NYLEI: 549300R0CN5YKL3VTP86
Tax ID: 11-1644848
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Mortgage Data
Review & Overview
People's Alliance Federal Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. People's Alliance Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New York, Miami, and Poughkeepsie among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)People's Alliance Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.72% | 4/5/25 |
| 30 Year Conventional Refi | 6.72% | 4/5/25 |
| 15 Year Conventional Refi | 6.00% | 4/5/25 |
| 15 Year Cash-out Refi | 6.00% | 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. | ||
People's Alliance Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
18Origination Dollar Volume (All Markets)
$2,970,000Relative Rate
People's Alliance Federal Credit Union's average 30 year fixed mortgage rate was
6.38%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.18%.
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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 11 | $1,915,000 | $174,091 | $0 | 8.09% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $880,000 | $146,667 | $0 | 7.79% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 6.99% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 18 | $2,970,000 | $165,000 | $0 | 7.92% |
For 2024, People's Alliance Federal Credit Union's most frequently originated type of loan was Conventional, with 18 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 15 | $2,105,000 | $140,333 | $0 | 8.28% |
| Home Purchase | 2 | $760,000 | $380,000 | $0 | 6.38% |
| Refi | 1 | $105,000 | $105,000 | $0 | 5.75% |
For 2024, People's Alliance Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 15 originations. The 2nd most popular reason was Home Purchase, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20 Year | 13 | $1,765,000 | $135,769 | $0 | 8.43% |
| 15 Year | 3 | $445,000 | $148,333 | $0 | 6.75% |
| 30 Year | 2 | $760,000 | $380,000 | $0 | 6.38% |
For 2024, People's Alliance Federal Credit Union's most frequently cited loan duration was 20 Year, with 13 originations. The 2nd most popular length was 15 Year, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 8 | $910,000 | $113,750 |
| 6-7% | 6 | $1,620,000 | $270,000 |
| 7-8% | 3 | $335,000 | $111,667 |
| 5-6% | 1 | $105,000 | $105,000 |
During 2024, People's Alliance Federal Credit Union's average interest rate for loans was 6.38%, while their most frequently originated rate bucket for loans was Over 8%, with 8 originations.
Loan Sizing
2024 saw People's Alliance Federal Credit Union place emphasis on $100k-200k loans with 10 originations, totaling $1,460,000 in origination value.
Applicant Income
People's Alliance Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 6 originations. The second most popular income band? $100k-150k, with 5 originations.
Applicant Debt to Income Ratio
People's Alliance Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 5 originations. The next most common DTI ratio? <20%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications60.22%
People's Alliance Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination66.67%
People's Alliance Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2062.5 | 1 | $35,000 | $35,000 |
| 2103.55 | 1 | $55,000 | $55,000 |
| 2618.08 | 1 | $55,000 | $55,000 |
| 2935.3 | 1 | $145,000 | $145,000 |
| 3025.16 | 1 | $165,000 | $165,000 |
| 3405.49 | 1 | $75,000 | $75,000 |
| 3506.99 | 1 | $105,000 | $105,000 |
| 3659.46 | 1 | $105,000 | $105,000 |
| 3685.5 | 1 | $305,000 | $305,000 |
| 3716.44 | 1 | $95,000 | $95,000 |
| 3902.68 | 1 | $165,000 | $165,000 |
| 4585.54 | 1 | $155,000 | $155,000 |
| 4642.1 | 1 | $165,000 | $165,000 |
| 5268.15 | 1 | $175,000 | $175,000 |
| 6013.0 | 1 | $585,000 | $585,000 |
| 6356.45 | 1 | $305,000 | $305,000 |
| 7804.0 | 1 | $105,000 | $105,000 |
| 9023.0 | 1 | $175,000 | $175,000 |