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

Mechanicsburg, PA

LEI: 549300SWKVL60SKWK981

Tax ID: 23-1360906

5 stars - Updated: 7/11/24 - out of 5 stars, based on 75 reviews

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

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Mortgage Data

Review & Overview

Members 1st Federal Credit Union is a smaller credit union specializing in Home Improvement, 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 61 markets. (Some data included below & more in-depth data is available with an active subscription.)

Members 1st 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. 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 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) 6.27% 7/11/24
30 Year Conventional Purchase 6.64% 7/11/24
30 Year Conventional Refi 6.63% 7/11/24
30 Year Cash-out Refi 6.70% 7/11/24
30 Year FHA Purchase 7.33% 7/11/24
30 Year FHA Refi 7.02% 7/11/24
30 Year VA Purchase 6.18% 7/11/24
30 Year VA Refi 6.41% 7/11/24
30 Year USDA Purchase 6.80% 7/11/24
15 Year Conventional Purchase 6.16% 7/11/24
15 Year Conventional Refi 6.29% 7/11/24
15 Year Cash-out Refi 6.29% 7/11/24
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.

Members 1st 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 Members 1st 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

5,594

Origination Dollar Volume (All Markets)

$588,830,000
Show all (12) awards

Relative Rate

Members 1st Federal Credit Union's average 30 year fixed mortgage rate was 3.57%.

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

This yields a difference of -2.91%.

Relative Fees (Closing Costs)

Members 1st Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,598.

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
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 2,037 $227,935,000 $111,897 $1,963 4.46%
YORK-HANOVER, PA (FHA|USDA|VA) 1,283 $116,055,000 $90,456 $1,562 4.16%
LANCASTER, PA (FHA|USDA|VA) 1,000 $103,050,000 $103,050 $1,309 4.07%
LEBANON, PA (FHA|USDA|VA) 265 $29,805,000 $112,472 $2,381 4.07%
GETTYSBURG, PA (FHA|USDA|VA) 251 $24,965,000 $99,462 $2,265 4.23%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 166 $16,330,000 $98,373 $956 3.73%
READING, PA (FHA|USDA|VA) 175 $15,225,000 $87,000 $969 3.32%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 81 $10,455,000 $129,074 $1,740 4.38%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 76 $6,290,000 $82,763 $1,660 4.59%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 35 $4,315,000 $123,286 $1,355 4.21%
Outside of Metro Areas 33 $3,285,000 $99,545 $2,196 4.99%
Pottsville, PA (FHA|USDA|VA) 38 $3,170,000 $83,421 $1,862 4.25%
EAST STROUDSBURG, PA (FHA|USDA|VA) 13 $2,025,000 $155,769 $1,935 4.21%
PITTSBURGH, PA (FHA|USDA|VA) 15 $1,975,000 $131,667 $3,064 5.20%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 12 $1,370,000 $114,167 $2,822 4.13%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $1,290,000 $645,000 $3,675 5.75%
WILMINGTON, NC (FHA|USDA|VA) 2 $1,250,000 $625,000 $7,052 6.50%
New Castle, PA (FHA|USDA|VA) 1 $1,155,000 $1,155,000 $0 7.00%
Easton, MD (FHA|USDA|VA) 1 $1,125,000 $1,125,000 $6,543 6.13%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 11 $1,125,000 $102,273 $431 5.75%
Lewistown, PA (FHA|USDA|VA) 7 $1,085,000 $155,000 $4,599 5.07%
SALISBURY, MD-DE (FHA|USDA|VA) 3 $1,065,000 $355,000 $3,284 4.98%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $910,000 $455,000 $7,365 6.50%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $710,000 $355,000 $6,989 6.13%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $705,000 $705,000 $8,996 6.50%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $695,000 $695,000 $10,199 7.00%
Sunbury, PA (FHA|USDA|VA) 11 $685,000 $62,273 $3,065 5.19%
Selinsgrove, PA (FHA|USDA|VA) 8 $620,000 $77,500 $816 5.13%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $620,000 $310,000 $4,884 6.31%
LOUISVILLE, KY (FHA|USDA|VA) 1 $605,000 $605,000 $10,348 5.75%
STATE COLLEGE, PA (FHA|USDA|VA) 7 $595,000 $85,000 $0 5.60%
ALTOONA, PA (FHA|USDA|VA) 6 $580,000 $96,667 $1,786 5.35%
Huntingdon, PA (FHA|USDA|VA) 4 $540,000 $135,000 $4,065 4.37%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $485,000 $485,000 $4,310 6.00%
WINCHESTER, VA-WV (FHA|USDA|VA) 2 $470,000 $235,000 $6,452 6.36%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $445,000 $445,000 $4,357 5.75%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $425,000 $425,000 $3,100 5.88%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $425,000 $425,000 $6,608 6.00%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 5 $415,000 $83,000 $2,158 5.34%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $415,000 $415,000 $6,184 7.63%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 5 $395,000 $79,000 $2,580 3.87%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $395,000 $395,000 $4,029 5.75%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $355,000 $355,000 $3,639 5.88%
DOVER, DE (FHA|USDA|VA) 1 $345,000 $345,000 $6,164 6.13%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $315,000 $315,000 $4,341 6.13%
BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 1 $305,000 $305,000 $5,443 6.00%
THE VILLAGES, FL (FHA|USDA|VA) 1 $245,000 $245,000 $4,166 6.13%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $245,000 $245,000 $7,818 6.63%
Lewisburg, PA (FHA|USDA|VA) 2 $230,000 $115,000 $0 4.87%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $215,000 $215,000 $7,369 6.25%
LYNCHBURG, VA (FHA|USDA|VA) 1 $205,000 $205,000 $3,083 5.88%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $185,000 $185,000 $3,787 6.00%
Sayre, PA (FHA|USDA|VA) 2 $140,000 $70,000 $4,036 4.25%
Warren, PA (FHA|USDA|VA) 1 $115,000 $115,000 $4,039 6.00%
Oil City, PA (FHA|USDA|VA) 1 $105,000 $105,000 $0 1.99%
JOHNSTOWN, PA (FHA|USDA|VA) 2 $90,000 $45,000 $0 5.87%
WILLIAMSPORT, PA (FHA|USDA|VA) 2 $80,000 $40,000 $0 5.37%
ROCHESTER, NY (FHA|USDA|VA) 1 $65,000 $65,000 $0 8.25%
DuBois, PA (FHA|USDA|VA) 2 $50,000 $25,000 $3,141 4.87%
Meadville, PA (FHA|USDA|VA) 1 $35,000 $35,000 $0 1.99%
Somerset, PA (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.74%
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)
  • North Carolina (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Virginia (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.

    Republic Bank
    Similarity Rank: 21
    PATRIOT
    Similarity Rank: 75
    County Savings Bank
    Similarity Rank: 135
    CNB Bank Inc.
    Similarity Rank: 135
    LEBANON
    Similarity Rank: 156
    Columbia Bank
    Similarity Rank: 156
    ACNB Bank
    Similarity Rank: 160

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 3,619 $325,365,000 $89,905 n/a 3.09%
    Conventional 1,917 $249,255,000 $130,023 $1,621 6.39%
    FHA 44 $9,010,000 $204,773 $8,349 6.43%
    VA 11 $4,575,000 $415,909 $7,666 6.33%
    USDA 3 $625,000 $208,333 $6,283 6.50%

    For 2023, Members 1st Federal Credit Union's most frequently originated type of loan was HELOC, with 3,619 originations. Their 2nd most popular type was Conventional, with 1,917 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 2,479 $181,795,000 $73,334 $0 3.20%
    Other 1,263 $80,735,000 $63,923 $25 3.66%
    Refi 1,124 $146,170,000 $130,044 $1,487 6.15%
    Home Purchase 711 $177,265,000 $249,318 $5,223 5.96%
    Cash Out Refi 17 $2,865,000 $168,529 $4,920 6.54%

    For 2023, Members 1st Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 2,479 originations. The 2nd most popular reason was Other, with 1,263 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 4,231 $486,945,000 $115,090 $5,598 3.57%
    10 Year 574 $45,880,000 $79,930 $6 6.32%
    15 Year 373 $30,655,000 $82,185 $106 6.98%
    5 Year 235 $18,385,000 $78,234 $0 5.91%
    Other 156 $5,500,000 $35,256 $20 6.06%
    3 Year 17 $445,000 $26,176 $0 5.67%
    20 Year 7 $1,005,000 $143,571 $2,135 8.39%
    1 Year 1 $15,000 $15,000 $0 5.49%

    For 2023, Members 1st Federal Credit Union's most frequently cited loan duration was 30 Year, with 4,231 originations. The 2nd most popular length was 10 Year, with 574 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,632 $158,780,000 $97,292
    $2k-3k 96 $28,880,000 $300,833
    $1k-2k 93 $15,435,000 $165,968
    $3k-4k 41 $12,085,000 $294,756
    $5k+ 24 $12,280,000 $511,667
    $4k-5k 19 $6,465,000 $340,263

    Members 1st Federal Credit Union's average total fees were $5,598, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,632 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 3,001 $256,155,000 $85,357
    5-6% 927 $104,655,000 $112,896
    6-7% 660 $110,980,000 $168,152
    7-8% 519 $66,345,000 $127,832
    Over 8% 486 $50,530,000 $103,971
    4-5% 1 $165,000 $165,000

    During 2023, Members 1st Federal Credit Union's average interest rate for loans was 3.57%, while their most frequently originated rate bucket for loans was <2.5%, with 3,001 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 3,712 $181,550,000 $48,909 $140 4.00%
    $100k-200k 1,127 $152,695,000 $135,488 $2,717 4.44%
    $200k-400k 611 $161,745,000 $264,722 $5,300 5.14%
    $400k-600k 104 $49,140,000 $472,500 $7,867 5.51%
    $600k-1MM 31 $21,315,000 $687,581 $8,454 5.47%
    $1MM+ 9 $22,385,000 $2,487,222 $22,170 6.34%

    2023 saw Members 1st Federal Credit Union place emphasis on $100,000 or less loans with 3,712 originations, totaling $181,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,606 $158,650,000 $98,786 $1,554 4.33%
    $75k-100k 1,085 $92,875,000 $85,599 $1,756 4.18%
    $150k-250k 1,033 $136,505,000 $132,144 $1,954 4.31%
    $50k-75k 1,023 $72,425,000 $70,797 $1,812 4.13%
    $50k or less 513 $29,445,000 $57,398 $1,796 3.93%
    $250k+ 269 $69,795,000 $259,461 $3,519 4.34%

    Members 1st Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,606 originations. The second most popular income band? $75k-100k, with 1,085 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,327 $132,835,000 $100,102 $1,605 4.16%
    30-36% 1,181 $112,215,000 $95,017 $1,466 4.25%
    <20% 493 $47,155,000 $95,649 $970 3.98%
    42% 350 $32,720,000 $93,486 $1,293 4.37%
    43% 301 $33,035,000 $109,751 $3,016 3.86%
    40% 267 $25,005,000 $93,652 $1,320 4.09%
    39% 261 $25,055,000 $95,996 $1,433 4.32%
    41% 256 $26,990,000 $105,430 $2,028 4.43%
    37% 243 $23,445,000 $96,481 $1,644 4.66%
    36% 239 $22,715,000 $95,042 $1,469 4.41%
    38% 239 $21,585,000 $90,314 $1,302 4.16%
    44% 130 $18,370,000 $141,308 $6,056 3.90%
    45% 77 $8,345,000 $108,377 $6,783 3.47%
    46% 73 $10,975,000 $150,342 $6,005 4.55%
    47% 27 $5,715,000 $211,667 $7,842 5.22%
    50-60% 20 $4,940,000 $247,000 $8,124 6.17%
    49% 18 $3,320,000 $184,444 $5,724 5.77%
    48% 16 $3,490,000 $218,125 $5,803 5.85%
    >60% 8 $1,520,000 $190,000 $0 4.12%

    Members 1st Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,327 originations. The next most common DTI ratio? 30-36%, with 1,181 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 5,074 $503,840,000 $99,298 $1,733 4.21%
    Not applicable 61 $28,255,000 $463,197 $0 7.08%
    Not provided 192 $22,810,000 $118,802 $1,975 4.36%
    Black 181 $17,595,000 $97,210 $2,551 4.47%
    Asian 71 $14,125,000 $198,944 $4,848 4.32%
    American Indian 9 $1,775,000 $197,222 $2,218 3.85%
    Native Hawaiian or Islander 6 $430,000 $71,667 $0 1.99%

    Approval Rates

    Total approvals of all applications
    63.62%

    Members 1st Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    78.73%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,594 $588,830,000 $105,261

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    5,594 $588,830,000 $105,261

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,723 $163,825,000 $95,081 $478 3.88%
    40-60% 468 $83,800,000 $179,060 $2,603 4.40%
    60-80% 427 $116,255,000 $272,260 $5,086 5.25%
    80-100% 411 $113,595,000 $276,387 $5,688 6.22%
    Under 20% 2,562 $109,510,000 $42,744 $22 4.00%