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

New York, NY

LEI: 549300RUKY2I2HQ2AI44

Tax ID: 11-2433592

5 stars - Updated: 6/9/24 - out of 5 stars, based on 21 reviews

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

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Mortgage Data

Review & Overview

Polish & Slavic Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Polish & Slavic Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, New York, Philadelphia, Trenton, and North Port among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

Polish & Slavic 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. Polish & Slavic Federal Credit Union is typically an average 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 relatively high 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) 5.81% 6/9/24
30 Year Conventional Purchase 6.04% 6/9/24
30 Year Conventional Refi 5.88% 6/9/24
30 Year Cash-out Refi 6.00% 6/9/24
15 Year Conventional Purchase 5.26% 6/9/24
15 Year Conventional Refi 5.24% 6/9/24
15 Year Cash-out Refi 5.24% 6/9/24
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.

Polish & Slavic 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 Polish & Slavic 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

421

Origination Dollar Volume (All Markets)

$101,855,000

Awards

POLISH & SLAVIC FEDERAL CREDIT UNION 30 Year Conventional Loans gold POLISH & SLAVIC FEDERAL CREDIT UNION 30 Year Conventional Loans gold POLISH & SLAVIC FEDERAL CREDIT UNION 30 Year Conventional Loans bronze POLISH & SLAVIC FEDERAL CREDIT UNION 30 Year Conventional Loans gold
Show all (4) awards

Relative Rate

Polish & Slavic Federal Credit Union's average 30 year fixed mortgage rate was 5.98%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.5%.

Relative Fees (Closing Costs)

Polish & Slavic Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,160.

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 $9,089.

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 222 $44,810,000 $201,847 $5,492 6.85%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 124 $40,250,000 $324,597 $4,939 7.36%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 15 $2,945,000 $196,333 $5,007 7.13%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 8 $1,790,000 $223,750 $4,819 7.41%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 5 $1,725,000 $345,000 $5,471 5.58%
EAST STROUDSBURG, PA (FHA|USDA|VA) 8 $1,430,000 $178,750 $4,009 6.48%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 4 $1,360,000 $340,000 $4,414 6.50%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $1,245,000 $415,000 $7,148 6.21%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 4 $1,070,000 $267,500 $4,413 5.56%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $950,000 $237,500 $0 6.47%
JACKSONVILLE, FL (FHA|USDA|VA) 5 $635,000 $127,000 $2,979 5.83%
Torrington, CT (FHA|USDA|VA) 1 $435,000 $435,000 $5,910 5.25%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $410,000 $205,000 $0 8.25%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $395,000 $131,667 $3,810 6.63%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $375,000 $375,000 $0 6.00%
Outside of Metro Areas 4 $360,000 $90,000 $2,520 6.53%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $315,000 $315,000 $4,723 6.38%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $305,000 $305,000 $6,055 5.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $285,000 $285,000 $0 6.88%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $235,000 $235,000 $0 8.13%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $205,000 $205,000 $4,291 6.63%
BINGHAMTON, NY (FHA|USDA|VA) 1 $175,000 $175,000 $3,958 6.50%
KANKAKEE, IL (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.50%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.50%
Polish & Slavic Federal Credit Union's top markets include Chicago, New York, Philadelphia, Trenton, and North Port among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against POLISH & SLAVIC FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Republic Bank
    Similarity Rank: 21
    SIKORSKY FINANCIAL
    Similarity Rank: 35
    Thomaston Savings Bank
    Similarity Rank: 42
    First Savings Bank of Hegewisch
    Similarity Rank: 46
    Union Savings Bank
    Similarity Rank: 84
    N C P D Federal Credit Union
    Similarity Rank: 126
    County Savings Bank
    Similarity Rank: 135
    GREATER ALLIANCE
    Similarity Rank: 168
    Newtown Savings Bank
    Similarity Rank: 168

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 248 $77,870,000 $313,992 $5,167 6.00%
    HELOC 173 $23,985,000 $138,642 n/a 8.20%

    For 2023, Polish & Slavic Federal Credit Union's most frequently originated type of loan was Conventional, with 248 originations. Their 2nd most popular type was HELOC, with 173 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 242 $66,900,000 $276,446 $5,317 6.25%
    Cash Out Refi 97 $23,055,000 $237,680 $4,400 7.84%
    Home Improvement 73 $9,905,000 $135,685 $2,909 8.06%
    Refi 6 $1,680,000 $280,000 $4,067 6.58%
    Other 3 $315,000 $105,000 $0 8.50%

    For 2023, Polish & Slavic Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 242 originations. The 2nd most popular reason was Cash Out Refi, with 97 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 193 $40,735,000 $211,062 $0 8.20%
    30 Year 143 $38,365,000 $268,287 $5,160 5.98%
    15 Year 83 $22,235,000 $267,892 $4,858 6.02%
    20 Year 2 $520,000 $260,000 $6,301 6.50%

    For 2023, Polish & Slavic Federal Credit Union's most frequently cited loan duration was Other, with 193 originations. The 2nd most popular length was 30 Year, with 143 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 92 $27,270,000 $296,413
    $<1k 55 $11,505,000 $209,182
    $2k-3k 1 $605,000 $605,000
    $5k+ 1 $545,000 $545,000

    Polish & Slavic Federal Credit Union's average total fees were $5,160, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 92 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 117 $16,575,000 $141,667
    5-6% 116 $30,810,000 $265,603
    6-7% 100 $27,030,000 $270,300
    7-8% 60 $8,790,000 $146,500
    4-5% 8 $1,900,000 $237,500

    During 2023, Polish & Slavic Federal Credit Union's average interest rate for loans was 5.98%, while their most frequently originated rate bucket for loans was Over 8%, with 117 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 180 $48,410,000 $268,944 $5,232 6.65%
    $100k-200k 119 $16,925,000 $142,227 $4,433 7.02%
    $100,000 or less 77 $4,695,000 $60,974 $5,328 7.90%
    $400k-600k 27 $12,765,000 $472,778 $5,999 6.07%
    $600k-1MM 12 $8,530,000 $710,833 $7,623 6.11%
    $1MM+ 6 $10,530,000 $1,755,000 $0 0.00%

    2023 saw Polish & Slavic Federal Credit Union place emphasis on $200k-400k loans with 180 originations, totaling $48,410,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 103 $17,215,000 $167,136 $5,154 6.92%
    $100k-150k 99 $22,335,000 $225,606 $5,310 7.06%
    $75k-100k 84 $17,130,000 $203,929 $4,707 6.91%
    $150k-250k 58 $16,400,000 $282,759 $5,465 7.01%
    $50k or less 29 $4,075,000 $140,517 $5,677 6.85%
    $250k+ 18 $4,720,000 $262,222 $4,892 6.85%

    Polish & Slavic Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 103 originations. The second most popular income band? $100k-150k, with 99 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 58 $11,750,000 $202,586 $4,584 6.87%
    49% 51 $8,205,000 $160,882 $4,928 7.60%
    50-60% 50 $12,590,000 $251,800 $5,860 6.67%
    30-36% 38 $7,200,000 $189,474 $4,778 6.93%
    47% 26 $5,960,000 $229,231 $4,553 6.71%
    46% 18 $3,410,000 $189,444 $5,509 7.10%
    48% 18 $4,450,000 $247,222 $5,478 6.62%
    45% 15 $3,305,000 $220,333 $5,454 6.89%
    <20% 15 $3,025,000 $201,667 $3,850 6.59%
    41% 14 $2,140,000 $152,857 $4,958 7.11%
    44% 13 $3,455,000 $265,769 $5,369 6.54%
    40% 13 $2,825,000 $217,308 $5,104 7.47%
    42% 12 $2,630,000 $219,167 $6,039 6.91%
    43% 12 $2,480,000 $206,667 $4,897 6.55%
    39% 11 $1,975,000 $179,545 $5,850 7.27%
    38% 11 $3,105,000 $282,273 $5,661 7.17%
    36% 10 $2,150,000 $215,000 $5,768 7.05%
    37% 7 $1,455,000 $207,857 $4,697 7.27%
    >60% 1 $105,000 $105,000 $0 6.00%

    Polish & Slavic Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 58 originations. The next most common DTI ratio? 49%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 395 $86,105,000 $217,987 $5,172 6.94%
    Not applicable 18 $13,840,000 $768,889 $0 0.00%
    Not provided 2 $730,000 $365,000 $0 7.50%
    Asian Indian 2 $580,000 $290,000 $0 6.06%
    American Indian 2 $330,000 $165,000 $5,723 7.81%
    Filipino 1 $175,000 $175,000 $3,958 6.50%
    Asian 1 $95,000 $95,000 $0 8.50%

    Approval Rates

    Total approvals of all applications
    81.52%

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

    Pick Rate

    Approvals leading to origination
    71.26%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 421 $101,855,000 $241,936

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    421 $101,855,000 $241,936

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 70 $10,860,000 $155,143 $4,825 7.84%
    40-60% 66 $14,160,000 $214,545 $4,774 6.87%
    60-80% 157 $41,865,000 $266,656 $5,126 6.39%
    80-100% 47 $13,645,000 $290,319 $5,714 5.95%
    Under 20% 60 $4,050,000 $67,500 $0 8.24%