Polish & Slavic Federal Credit Union Mortgage Rates, Fees & Info

New York, NY

LEI: 549300RUKY2I2HQ2AI44

Tax ID: 11-2433592

5 stars - out of 5 stars, based on 29 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Polish & Slavic Federal Credit Union is a smaller credit union specializing in Home Purchase, Refi, and Cash Out Refi loans. Polish & Slavic Federal Credit Union has a high proportion of conventional loans. Their top markets include New York, Chicago, Bridgeport, East Stroudsburg, and Philadelphia among others. Polish & Slavic Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Polish & Slavic Federal Credit Union is typically an average fee lendor.


Originations

863

Origination Dollar Volume (All Markets)

$225,715,000

Awards

POLISH & SLAVIC FEDERAL CREDIT UNION 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

Polish & Slavic Federal Credit Union's average 30 year fixed rate mortgage of loans were 3.11%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.04%.

Relative Fees

Polish & Slavic Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $4,161.

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

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 281 $109,115,000 $388,310 $4,314 3.17%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 433 $84,725,000 $195,670 $3,314 3.07%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 21 $6,595,000 $314,048 $4,169 3.10%
EAST STROUDSBURG, PA (FHA|USDA|VA) 29 $4,685,000 $161,552 $3,941 3.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 18 $4,060,000 $225,556 $4,132 3.01%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 21 $3,655,000 $174,048 $3,836 2.97%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 5 $1,925,000 $385,000 $4,810 3.08%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 8 $1,840,000 $230,000 $4,221 2.98%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 7 $1,755,000 $250,714 $3,989 3.18%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 8 $1,670,000 $208,750 $3,770 3.09%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 8 $1,190,000 $148,750 $3,986 3.14%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $805,000 $268,333 $4,096 2.96%
Outside of Metro Areas 4 $570,000 $142,500 $4,247 3.09%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $440,000 $220,000 $4,170 3.13%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $360,000 $180,000 $3,171 3.19%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 2 $340,000 $170,000 $3,829 3.06%
KINGSTON, NY (FHA|USDA|VA) 1 $335,000 $335,000 $4,070 2.88%
ROCHESTER, NY (FHA|USDA|VA) 1 $265,000 $265,000 $2,538 3.00%
Torrington, CT (FHA|USDA|VA) 1 $265,000 $265,000 $3,857 3.13%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 3.50%
KANKAKEE, IL (FHA|USDA|VA) 1 $185,000 $185,000 $2,496 2.88%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,801 3.13%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.25%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $105,000 $105,000 $2,812 3.13%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $95,000 $95,000 $3,106 3.13%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $95,000 $95,000 $3,368 3.25%
BINGHAMTON, NY (FHA|USDA|VA) 1 $75,000 $75,000 $4,045 2.88%

Polish & Slavic Federal Credit Union's top markets include New York, Chicago, Bridgeport, East Stroudsburg, and Philadelphia among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 863 $225,715,000 $261,547 $3,737 3.10%

For the 2021 period, Polish & Slavic Federal Credit Union's most frequently originated loan type of loans were Conventional, with 863 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 408 $109,930,000 $269,436 $4,753 3.15%
Refi 234 $46,510,000 $198,761 $2,746 2.98%
Cash Out Refi 154 $53,050,000 $344,481 $3,107 3.17%
Other 53 $13,025,000 $245,755 $3,163 2.99%
Home Improvement 14 $3,200,000 $228,571 $2,884 3.12%

For the 2021, Polish & Slavic Federal Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 408 originations. The 2nd most popular reason of loans were Refi, with 234 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 428 $113,760,000 $265,794 $4,161 3.11%
15 Year 289 $60,555,000 $209,533 $3,031 3.08%
20 Year 74 $16,720,000 $225,946 $3,380 3.02%
Other 44 $30,750,000 $698,864 $0 3.57%
10 Year 28 $3,930,000 $140,357 $2,720 2.65%

For the 2021, Polish & Slavic Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 428 originations. The 2nd most popular length of loans were 15 Year, with 289 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 609 $132,175,000 $217,036
$1k-2k 97 $30,935,000 $318,918
$2k-3k 4 $2,740,000 $685,000

$4,161 of loans were Polish & Slavic Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 609 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 436 $93,970,000 $215,528
3-4% 410 $128,330,000 $313,000
<2.5% 15 $2,335,000 $155,667
4-5% 1 $615,000 $615,000

During 2021, Polish & Slavic Federal Credit Union's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 2.5-3%, with 436 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 342 $94,440,000 $276,140 $3,990 3.12%
$100k-200k 299 $44,465,000 $148,712 $3,213 3.01%
$100,000 or less 102 $8,020,000 $78,627 $3,073 3.06%
$400k-600k 68 $33,100,000 $486,765 $5,135 3.23%
$600k-1MM 38 $28,010,000 $737,105 $5,965 3.36%
$1MM+ 14 $17,680,000 $1,262,857 $7,852 3.54%

2021 saw Polish & Slavic Federal Credit Union place emphasis on $200k-400k loans with 342 originations, totaling $94,440,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 225 $47,005,000 $208,911 $3,631 3.06%
$50k or less 186 $26,610,000 $143,065 $3,348 3.03%
$75k-100k 149 $37,395,000 $250,973 $3,884 3.08%
$100k-150k 144 $38,350,000 $266,319 $3,855 3.09%
$150k-250k 56 $18,380,000 $328,214 $4,331 3.02%
$250k+ 22 $11,270,000 $512,273 $5,214 3.19%

Polish & Slavic Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 225 originations. The second most popular income band? $50k or less, with 186 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 134 $28,690,000 $214,104 $3,626 3.01%
30-36% 121 $29,575,000 $244,421 $3,968 3.04%
<20% 63 $15,335,000 $243,413 $4,038 3.16%
50-60% 52 $13,400,000 $257,692 $3,615 3.15%
49% 42 $9,190,000 $218,810 $3,814 3.03%
41% 35 $9,015,000 $257,571 $3,820 3.02%
48% 32 $6,820,000 $213,125 $3,209 3.08%
45% 31 $7,805,000 $251,774 $3,486 3.07%
42% 30 $6,360,000 $212,000 $3,564 3.12%
44% 30 $8,610,000 $287,000 $4,172 3.07%
46% 28 $6,680,000 $238,571 $3,660 3.08%
>60% 27 $7,855,000 $290,926 $3,601 3.23%
37% 26 $4,840,000 $186,154 $3,312 3.04%
39% 26 $5,980,000 $230,000 $3,719 2.98%
38% 26 $5,450,000 $209,615 $4,255 3.08%
43% 25 $4,815,000 $192,600 $3,584 3.09%
40% 24 $4,950,000 $206,250 $3,484 3.03%
36% 23 $4,395,000 $191,087 $3,722 2.92%
47% 23 $4,835,000 $210,217 $3,732 3.02%

Polish & Slavic Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 134 originations. The next most common DTI ratio? 30-36%, with 121 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 813 $196,295,000 $241,445 $3,731 3.08%
Not applicable 37 $25,835,000 $698,243 $0 3.58%
Not provided 10 $2,720,000 $272,000 $3,994 3.09%
Vietnamese 1 $505,000 $505,000 $6,323 3.00%
Asian 1 $215,000 $215,000 $4,693 2.88%
American Indian 1 $145,000 $145,000 $2,368 3.13%

Approval Rates

Total approvals of all applications
87.97%

Polish & Slavic Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
71.10%

Polish & Slavic Federal Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 863 $225,715,000 $261,547

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
863 $225,715,000 $261,547

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 89 $18,625,000 $209,270 $3,137 2.99%
40-60% 229 $64,295,000 $280,764 $3,230 3.04%
60-80% 405 $107,925,000 $266,481 $3,806 3.15%
80-100% 125 $31,835,000 $254,680 $4,886 3.11%
Under 20% 15 $3,035,000 $202,333 $3,254 3.12%