Members 1st Federal Credit Union Mortgage Rates, Fees & Info
Mechanicsburg, PALEI: 549300SWKVL60SKWK981
Tax ID: 23-1360906
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Mortgage Data
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 an average proportion of FHA loans. 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 37 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 a low 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/17/24 |
| 30 Year Conventional Purchase | 6.64% | 11/17/24 |
| 30 Year Conventional Refi | 6.63% | 11/17/24 |
| 30 Year Cash-out Refi | 6.70% | 11/17/24 |
| 30 Year FHA Purchase | 7.33% | 11/17/24 |
| 30 Year FHA Refi | 7.02% | 11/17/24 |
| 30 Year VA Purchase | 6.18% | 11/17/24 |
| 30 Year VA Refi | 6.41% | 11/17/24 |
| 30 Year USDA Purchase | 6.80% | 11/17/24 |
| 15 Year Conventional Purchase | 6.16% | 11/17/24 |
| 15 Year Conventional Refi | 6.29% | 11/17/24 |
| 15 Year Cash-out Refi | 6.29% | 11/17/24 |
| 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
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This is not an official calculator from Members 1st Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
6,680Origination Dollar Volume (All Markets)
$680,880,000Awards
MEMBERS 1ST FEDERAL CREDIT UNION - 2019
MEMBERS 1ST FEDERAL CREDIT UNION is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 2,962 | $298,320,000 | $100,716 | $3,263 | 5.51% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1,397 | $126,355,000 | $90,447 | $3,391 | 5.71% |
| LANCASTER, PA (FHA|USDA|VA) | 1,197 | $123,825,000 | $103,446 | $3,473 | 5.66% |
| LEBANON, PA (FHA|USDA|VA) | 405 | $55,205,000 | $136,309 | $4,274 | 5.14% |
| GETTYSBURG, PA (FHA|USDA|VA) | 320 | $31,540,000 | $98,563 | $3,512 | 5.61% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 97 | $10,225,000 | $105,412 | $4,350 | 5.63% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 58 | $8,920,000 | $153,793 | $3,337 | 5.76% |
| READING, PA (FHA|USDA|VA) | 55 | $6,445,000 | $117,182 | $3,391 | 5.43% |
| Outside of Metro Areas | 32 | $3,760,000 | $117,500 | $3,828 | 5.06% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 17 | $2,435,000 | $143,235 | $4,996 | 5.73% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 6 | $1,680,000 | $280,000 | $3,722 | 4.21% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 22 | $1,660,000 | $75,455 | $2,634 | 6.14% |
| PITTSBURGH, PA (FHA|USDA|VA) | 15 | $1,505,000 | $100,333 | $3,829 | 4.57% |
| Pottsville, PA (FHA|USDA|VA) | 20 | $1,260,000 | $63,000 | $2,428 | 5.34% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 5 | $1,005,000 | $201,000 | $3,151 | 5.00% |
| Sunbury, PA (FHA|USDA|VA) | 12 | $920,000 | $76,667 | $3,527 | 4.86% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 8 | $920,000 | $115,000 | $3,620 | 5.86% |
| Lewistown, PA (FHA|USDA|VA) | 11 | $775,000 | $70,455 | $2,495 | 5.99% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 4 | $580,000 | $145,000 | $3,884 | 4.56% |
| Somerset, PA (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $4,010 | 4.38% |
| Lewisburg, PA (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $4,796 | 4.19% |
| Selinsgrove, PA (FHA|USDA|VA) | 3 | $345,000 | $115,000 | $4,843 | 5.13% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 5.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 5 | $325,000 | $65,000 | $0 | 7.09% |
| ALTOONA, PA (FHA|USDA|VA) | 3 | $245,000 | $81,667 | $5,036 | 4.63% |
| Huntingdon, PA (FHA|USDA|VA) | 6 | $210,000 | $35,000 | $0 | 6.37% |
| Bradford, PA (FHA|USDA|VA) | 3 | $145,000 | $48,333 | $3,220 | 5.04% |
| Meadville, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,283 | 3.75% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 4.87% |
| Sayre, PA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 6.00% |
| DOVER, DE (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,907 | 3.88% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,544 | 3.38% |
| DuBois, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,272 | 7.38% |
| Easton, MD (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,642 | 3.63% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 7.13% |
| Oil City, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.25% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 4.94% |
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.
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Product Mix
For 2019, Members 1st Federal Credit Union's most frequently originated type of loan was HELOC, with 4,486 originations. Their 2nd most popular type was Conventional, with 1,869 originations.
Loan Reason
For 2019, Members 1st Federal Credit Union's most frequently cited loan purpose was Refi, with 2,008 originations. The 2nd most popular reason was Home Improvement, with 1,963 originations.
Loan Duration/Length
For 2019, Members 1st Federal Credit Union's most frequently cited loan duration was 30 Year, with 5,866 originations. The 2nd most popular length was 10 Year, with 241 originations.
Origination Fees/Closing Costs
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 1,861 originations.
Interest Rates
During 2019, Members 1st Federal Credit Union's average interest rate for loans was 5.64%, while their most frequently originated rate bucket for loans was 5-6%, with 2,330 originations.
Loan Sizing
2019 saw Members 1st Federal Credit Union place emphasis on $100,000 or less loans with 4,202 originations, totaling $195,190,000 in origination value.
Applicant Income
Members 1st Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 1,659 originations. The second most popular income band? $100k-150k, with 1,588 originations.
Applicant Debt to Income Ratio
Members 1st Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,562 originations. The next most common DTI ratio? 30-36%, with 1,228 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.80%
Members 1st Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination83.79%
Members 1st Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 6,680 | $680,880,000 | $101,928 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER FIRST MORTGAGE, LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 100.0% |