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

Mechanicsburg, PA

LEI: 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.

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% 3/28/24
30 Year Conventional Purchase 6.64% 3/28/24
30 Year Conventional Refi 6.63% 3/28/24
30 Year Cash-out Refi 6.70% 3/28/24
30 Year FHA Purchase 7.33% 3/28/24
30 Year FHA Refi 7.02% 3/28/24
30 Year VA Purchase 6.18% 3/28/24
30 Year VA Refi 6.41% 3/28/24
30 Year USDA Purchase 6.80% 3/28/24
15 Year Conventional Purchase 6.16% 3/28/24
15 Year Conventional Refi 6.29% 3/28/24
15 Year Cash-out Refi 6.29% 3/28/24
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

6,680

Origination Dollar Volume (All Markets)

$680,880,000
Show all (18) awards

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%
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)
  • Delaware (FHA|USDA|VA)
  • Florida (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: 27
    UTILITIES EMPLOYEES CREDIT UNION
    Similarity Rank: 42
    Prudential Bank
    Similarity Rank: 162
    CREDIT UNION OF NEW JERSEY
    Similarity Rank: 180
    LEBANON
    Similarity Rank: 182
    CORNING
    Similarity Rank: 202
    PATRIOT
    Similarity Rank: 204
    Diamond Credit Union
    Similarity Rank: 228
    Columbia Bank
    Similarity Rank: 440

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 4,486 $315,640,000 $70,361 n/a 6.14%
    Conventional 1,869 $304,845,000 $163,106 $2,866 4.51%
    FHA 231 $39,795,000 $172,273 $6,517 3.60%
    VA 62 $16,000,000 $258,065 $7,651 3.53%
    USDA 32 $4,600,000 $143,750 $4,793 3.73%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 2,008 $207,590,000 $103,381 $2,312 5.57%
    Home Improvement 1,963 $108,665,000 $55,357 $254 6.14%
    Home Purchase 1,526 $292,740,000 $191,835 $4,555 4.32%
    Other 1,088 $55,430,000 $50,947 $156 6.36%
    Cash Out Refi 95 $16,455,000 $173,211 $3,625 3.99%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 5,866 $601,520,000 $102,543 $4,513 5.64%
    10 Year 241 $25,045,000 $103,921 $440 5.43%
    15 Year 237 $31,675,000 $133,650 $2,708 4.54%
    Other 123 $7,425,000 $60,366 $347 5.45%
    5 Year 118 $4,180,000 $35,424 $14 4.65%
    20 Year 58 $9,020,000 $155,517 $2,707 5.02%
    3 Year 36 $1,920,000 $53,333 $0 4.61%
    1 Year 1 $95,000 $95,000 $0 6.25%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,861 $298,805,000 $160,562
    $1k-2k 141 $24,345,000 $172,660
    $2k-3k 33 $8,725,000 $264,394
    $3k-4k 20 $5,000,000 $250,000
    $4k-5k 8 $2,910,000 $363,750
    $5k+ 8 $3,920,000 $490,000

    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

    Loan Rate Originations Total Value Average Loan
    5-6% 2,330 $190,440,000 $81,734
    4-5% 1,463 $184,685,000 $126,237
    3-4% 1,000 $195,240,000 $195,240
    6-7% 857 $56,675,000 $66,132
    7-8% 633 $33,125,000 $52,330
    Over 8% 371 $16,035,000 $43,221
    2.5-3% 24 $4,660,000 $194,167
    <2.5% 2 $20,000 $10,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 4,202 $195,190,000 $46,452 $1,016 6.08%
    $100k-200k 1,577 $220,445,000 $139,788 $3,830 4.82%
    $200k-400k 792 $207,600,000 $262,121 $5,153 4.42%
    $400k-600k 89 $41,435,000 $465,562 $6,557 4.31%
    $600k-1MM 16 $11,680,000 $730,000 $7,061 4.45%
    $1MM+ 4 $4,530,000 $1,132,500 $14,957 4.16%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,659 $142,515,000 $85,904 $3,431 5.56%
    $100k-150k 1,588 $170,000,000 $107,053 $3,375 5.71%
    $75k-100k 1,342 $124,840,000 $93,025 $3,444 5.62%
    $50k or less 990 $71,170,000 $71,889 $3,211 5.18%
    $150k-250k 754 $98,460,000 $130,584 $3,407 5.65%
    $250k+ 216 $52,280,000 $242,037 $5,213 5.30%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,562 $152,700,000 $97,759 $3,167 5.32%
    30-36% 1,228 $123,840,000 $100,847 $3,449 5.58%
    <20% 635 $56,235,000 $88,559 $2,837 5.04%
    50-60% 298 $28,880,000 $96,913 $6,055 5.89%
    39% 218 $22,590,000 $103,624 $3,261 5.76%
    40% 218 $21,560,000 $98,899 $3,368 5.76%
    42% 216 $23,380,000 $108,241 $3,418 5.68%
    37% 213 $23,645,000 $111,009 $3,271 5.71%
    44% 211 $24,945,000 $118,223 $3,457 5.58%
    41% 209 $19,965,000 $95,526 $3,605 5.82%
    48% 207 $23,035,000 $111,280 $3,856 6.01%
    38% 203 $19,945,000 $98,251 $3,487 5.64%
    36% 200 $21,400,000 $107,000 $3,444 5.57%
    43% 199 $22,845,000 $114,799 $3,792 5.65%
    45% 197 $20,105,000 $102,056 $3,973 5.91%
    47% 192 $18,030,000 $93,906 $3,622 5.89%
    46% 180 $16,750,000 $93,056 $3,573 5.91%
    49% 171 $17,475,000 $102,193 $4,442 5.85%
    >60% 30 $4,190,000 $139,667 $3,544 5.41%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 6,140 $618,590,000 $100,748 $3,452 5.56%
    Not provided 251 $23,405,000 $93,247 $2,663 5.54%
    Not applicable 84 $17,540,000 $208,810 $0 5.57%
    Black 117 $11,265,000 $96,282 $4,768 5.90%
    Asian 66 $8,700,000 $131,818 $3,771 5.09%
    American Indian 13 $935,000 $71,923 $5,160 6.38%
    Native Hawaiian or Islander 9 $445,000 $49,444 $0 6.10%

    Approval Rates

    Total approvals of all applications
    78.80%

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

    Pick Rate

    Approvals leading to origination
    83.79%

    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

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $275,000 $275,000
    Multifamily:Site-Built 31 $9,545,000 $307,903
    Single Family (1-4 Units):Manufactured 6 $840,000 $140,000
    Single Family (1-4 Units):Site-Built 6,642 $670,220,000 $100,906

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,808 $124,700,000 $68,971 $957 6.08%
    40-60% 638 $77,920,000 $122,132 $2,918 5.35%
    60-80% 951 $168,835,000 $177,534 $3,707 4.81%
    80-100% 1,144 $235,760,000 $206,084 $4,692 4.30%
    Over 100% 17 $4,955,000 $291,471 $11,943 3.93%
    Under 20% 2,121 $68,655,000 $32,369 $27 6.20%

    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%