Members 1st Federal Credit Union Mortgage Rates, Fees & Info

Mechanicsburg, PA

LEI: 549300SWKVL60SKWK981

Tax ID: 23-1360906

3.3 stars - out of 5 stars, based on 86 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Members 1st Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Members 1st Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Harrisburg, York, Lancaster, Lebanon, and Gettysburg among others. We have data for 52 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Members 1st 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. Members 1st 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) 6.58% 12/4/22
    30 Year Conventional Purchase 7.01% 12/4/22
    30 Year Conventional Refi 6.91% 12/4/22
    30 Year Cash-out Refi 7.05% 12/4/22
    30 Year FHA Purchase 7.40% 12/4/22
    30 Year FHA Refi 7.41% 12/4/22
    30 Year VA Purchase 6.39% 12/4/22
    30 Year VA Refi 6.46% 12/4/22
    30 Year USDA Purchase 7.15% 12/4/22
    15 Year Conventional Purchase 6.30% 12/4/22
    15 Year Conventional Refi 6.35% 12/4/22
    15 Year Cash-out Refi 6.35% 12/4/22
    15 Year FHA Refi 5.76% 12/4/22
    15 Year VA Purchase 6.24% 12/4/22
    15 Year VA Refi 6.05% 12/4/22
    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.


    Originations

    7,338

    Origination Dollar Volume (All Markets)

    $979,550,000
    Show all (10) awards

    Relative Rate

    Members 1st Federal Credit Union's average 30 year fixed mortgage rate was 3.78%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.63%.

    Relative Fees (Closing Costs)

    Members 1st Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,513.

    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 $4,750.

    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) 3,011 $406,715,000 $135,076 $2,930 3.67%
    YORK-HANOVER, PA (FHA|USDA|VA) 1,626 $189,130,000 $116,316 $2,772 3.92%
    LANCASTER, PA (FHA|USDA|VA) 1,257 $159,555,000 $126,933 $2,884 3.74%
    LEBANON, PA (FHA|USDA|VA) 463 $80,465,000 $173,790 $4,395 3.63%
    GETTYSBURG, PA (FHA|USDA|VA) 322 $44,470,000 $138,106 $3,299 3.83%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 105 $18,685,000 $177,952 $2,995 4.02%
    READING, PA (FHA|USDA|VA) 130 $14,490,000 $111,462 $2,594 3.96%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 56 $13,020,000 $232,500 $1,900 3.98%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 101 $11,195,000 $110,842 $2,767 3.96%
    Outside of Metro Areas 35 $4,605,000 $131,571 $3,354 3.51%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 35 $4,565,000 $130,429 $1,715 4.30%
    Pottsville, PA (FHA|USDA|VA) 34 $3,760,000 $110,588 $3,791 4.01%
    Lewistown, PA (FHA|USDA|VA) 13 $2,865,000 $220,385 $2,838 3.61%
    SALISBURY, MD-DE (FHA|USDA|VA) 12 $2,700,000 $225,000 $4,090 2.90%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $2,375,000 $791,667 $3,765 3.42%
    PITTSBURGH, PA (FHA|USDA|VA) 17 $2,255,000 $132,647 $4,021 3.94%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 16 $2,220,000 $138,750 $1,166 4.13%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 9 $1,535,000 $170,556 $4,345 3.02%
    STATE COLLEGE, PA (FHA|USDA|VA) 11 $1,475,000 $134,091 $2,901 4.64%
    Sunbury, PA (FHA|USDA|VA) 12 $1,170,000 $97,500 $4,140 3.38%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $895,000 $298,333 $2,927 3.29%
    Huntingdon, PA (FHA|USDA|VA) 9 $835,000 $92,778 $1,697 3.86%
    OCEAN CITY, NJ (FHA|USDA|VA) 2 $810,000 $405,000 $4,525 3.74%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 7 $805,000 $115,000 $3,663 3.75%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $730,000 $365,000 $5,087 4.00%
    WILMINGTON, NC (FHA|USDA|VA) 2 $680,000 $340,000 $2,899 3.06%
    ALTOONA, PA (FHA|USDA|VA) 5 $655,000 $131,000 $3,651 4.40%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $625,000 $625,000 $4,311 2.88%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 4 $580,000 $145,000 $3,818 3.47%
    Lewisburg, PA (FHA|USDA|VA) 2 $570,000 $285,000 $6,706 4.56%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $440,000 $220,000 $3,844 3.38%
    DuBois, PA (FHA|USDA|VA) 1 $435,000 $435,000 $6,834 3.25%
    THE VILLAGES, FL (FHA|USDA|VA) 2 $380,000 $190,000 $2,076 2.69%
    Lock Haven, PA (FHA|USDA|VA) 4 $370,000 $92,500 $2,945 3.13%
    SAVANNAH, GA (FHA|USDA|VA) 1 $315,000 $315,000 $4,611 3.00%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 3 $315,000 $105,000 $3,255 3.25%
    WILLIAMSPORT, PA (FHA|USDA|VA) 3 $315,000 $105,000 $5,015 3.08%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $305,000 $305,000 $2,488 2.50%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $235,000 $235,000 $2,968 3.00%
    OCALA, FL (FHA|USDA|VA) 1 $235,000 $235,000 $4,633 3.25%
    Sayre, PA (FHA|USDA|VA) 1 $235,000 $235,000 $9,076 2.63%
    Selinsgrove, PA (FHA|USDA|VA) 3 $225,000 $75,000 $1,767 4.10%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,912 2.75%
    JACKSONVILLE, NC (FHA|USDA|VA) 1 $195,000 $195,000 $3,133 3.00%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $195,000 $195,000 $6,183 3.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $155,000 $155,000 $2,726 3.00%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $115,000 $115,000 $3,668 3.00%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $105,000 $105,000 $3,451 3.38%
    Bradford, PA (FHA|USDA|VA) 1 $95,000 $95,000 $2,261 3.25%
    Meadville, PA (FHA|USDA|VA) 1 $85,000 $85,000 $3,403 2.75%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $75,000 $75,000 $2,590 2.88%
    JOHNSTOWN, PA (FHA|USDA|VA) 1 $65,000 $65,000 $3,401 3.38%
    Members 1st Federal Credit Union's top markets include Harrisburg, York, Lancaster, Lebanon, and Gettysburg among others.

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

    We use machine learning to identify the top lenders compared against MEMBERS 1ST FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    POINT BREEZE
    Similarity Rank: 63
    BELLCO
    Similarity Rank: 176
    First Citizens Community Bank
    Similarity Rank: 270
    PATRIOT
    Similarity Rank: 312
    Sail Mortgage Corp.
    Similarity Rank: 360
    Louviers Federal Credit Union
    Similarity Rank: 410
    Riverview Bank
    Similarity Rank: 420
    VISIONS
    Similarity Rank: 468
    BHCU
    Similarity Rank: 504
    Discovery Federal Credit Union
    Similarity Rank: 616

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 3,897 $345,555,000 $88,672 n/a 4.04%
    Conventional 3,267 $597,245,000 $182,811 $2,774 3.49%
    FHA 118 $21,630,000 $183,305 $7,020 2.79%
    VA 50 $14,000,000 $280,000 $8,569 2.61%
    USDA 6 $1,120,000 $186,667 $5,803 2.99%

    For 2021, Members 1st Federal Credit Union's most frequently originated type of loan was HELOC, with 3,897 originations. Their 2nd most popular type was Conventional, with 3,267 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 2,286 $173,600,000 $75,941 $813 4.14%
    Refi 1,959 $293,695,000 $149,921 $2,639 3.40%
    Home Purchase 1,683 $387,265,000 $230,104 $4,733 3.38%
    Other 1,189 $82,495,000 $69,382 $8 4.27%
    Cash Out Refi 221 $42,495,000 $192,285 $3,704 3.14%

    For 2021, Members 1st Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 2,286 originations. The 2nd most popular reason was Refi, with 1,959 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 5,507 $721,425,000 $131,001 $4,513 3.78%
    15 Year 745 $132,035,000 $177,228 $2,427 3.40%
    10 Year 588 $76,080,000 $129,388 $389 4.07%
    5 Year 172 $7,830,000 $45,523 $0 3.98%
    20 Year 155 $30,585,000 $197,323 $3,220 3.05%
    Other 148 $11,060,000 $74,730 $562 4.44%
    3 Year 22 $520,000 $23,636 $0 3.40%
    1 Year 1 $15,000 $15,000 $0 3.24%

    For 2021, Members 1st Federal Credit Union's most frequently cited loan duration was 30 Year, with 5,507 originations. The 2nd most popular length was 15 Year, with 745 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,558 $383,700,000 $150,000
    $1k-2k 428 $106,720,000 $249,346
    $2k-3k 95 $33,405,000 $351,632
    $3k-4k 33 $7,705,000 $233,485
    $5k+ 17 $6,435,000 $378,529
    $4k-5k 15 $6,035,000 $402,333

    Members 1st Federal Credit Union's average total fees were $4,513, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,558 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,735 $448,515,000 $163,991
    2.5-3% 2,221 $317,165,000 $142,803
    4-5% 1,113 $109,795,000 $98,648
    5-6% 558 $38,910,000 $69,731
    <2.5% 271 $40,215,000 $148,395
    6-7% 270 $15,950,000 $59,074
    7-8% 141 $7,805,000 $55,355
    Over 8% 29 $1,195,000 $41,207

    During 2021, Members 1st Federal Credit Union's average interest rate for loans was 3.78%, while their most frequently originated rate bucket for loans was 3-4%, with 2,735 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 3,741 $194,785,000 $52,068 $709 4.14%
    $100k-200k 2,156 $306,380,000 $142,106 $3,272 3.45%
    $200k-400k 1,196 $317,540,000 $265,502 $4,626 3.22%
    $400k-600k 186 $88,090,000 $473,602 $6,573 3.29%
    $600k-1MM 42 $31,610,000 $752,619 $9,023 3.53%
    $1MM+ 17 $41,145,000 $2,420,294 $13,042 3.82%

    2021 saw Members 1st Federal Credit Union place emphasis on $100,000 or less loans with 3,741 originations, totaling $194,785,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,856 $239,250,000 $128,906 $2,995 3.85%
    $50k-75k 1,558 $171,580,000 $110,128 $2,978 3.66%
    $75k-100k 1,350 $157,840,000 $116,919 $2,927 3.79%
    $150k-250k 1,076 $160,320,000 $148,996 $2,851 3.95%
    $50k or less 966 $91,280,000 $94,493 $3,037 3.44%
    $250k+ 300 $74,190,000 $247,300 $4,822 3.72%

    Members 1st Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,856 originations. The second most popular income band? $50k-75k, with 1,558 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 2,022 $240,190,000 $118,788 $2,825 3.60%
    30-36% 1,389 $177,795,000 $128,002 $2,850 3.83%
    <20% 899 $104,115,000 $115,812 $2,540 3.37%
    37% 246 $30,590,000 $124,350 $2,942 4.00%
    36% 236 $28,290,000 $119,873 $3,064 3.91%
    40% 233 $30,095,000 $129,163 $2,808 4.06%
    42% 230 $31,110,000 $135,261 $3,357 4.09%
    43% 227 $32,425,000 $142,841 $3,288 3.95%
    39% 224 $29,530,000 $131,830 $2,892 3.99%
    41% 219 $29,995,000 $136,963 $3,479 4.07%
    38% 219 $28,945,000 $132,169 $3,000 3.88%
    44% 189 $29,055,000 $153,730 $3,689 3.72%
    49% 152 $21,260,000 $139,868 $4,962 3.87%
    45% 137 $17,705,000 $129,234 $3,381 4.04%
    47% 132 $16,740,000 $126,818 $3,945 3.82%
    48% 130 $15,650,000 $120,385 $3,732 3.99%
    46% 129 $17,015,000 $131,899 $4,130 4.02%
    50-60% 73 $10,715,000 $146,781 $7,343 3.41%
    >60% 18 $2,140,000 $118,889 $1,914 4.46%

    Members 1st Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 2,022 originations. The next most common DTI ratio? 30-36%, with 1,389 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 6,472 $820,170,000 $126,726 $3,031 3.74%
    Not applicable 211 $79,215,000 $375,427 $0 4.15%
    Not provided 360 $41,310,000 $114,750 $2,633 3.79%
    Black 181 $20,615,000 $113,895 $3,504 4.01%
    Asian 104 $16,300,000 $156,731 $3,655 3.63%
    Asian Indian 2 $1,230,000 $615,000 $0 3.75%
    American Indian 3 $375,000 $125,000 $2,905 3.54%
    Native Hawaiian or Islander 5 $335,000 $67,000 $0 4.20%

    Approval Rates

    Total approvals of all applications
    78.36%

    Members 1st Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.35%

    Members 1st Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 7,338 $979,550,000 $133,490

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    7,338 $979,550,000 $133,490

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,878 $159,350,000 $84,851 $866 4.14%
    40-60% 857 $130,675,000 $152,480 $2,743 3.39%
    60-80% 1,451 $321,595,000 $221,637 $3,667 3.29%
    80-100% 1,179 $281,595,000 $238,842 $4,629 3.34%
    Over 100% 18 $5,280,000 $293,333 $11,197 2.71%
    Under 20% 1,953 $79,525,000 $40,719 $26 4.17%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    MEMBERS MORTGAGE COMPANY, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%