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 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 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 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.
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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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
7,338Origination Dollar Volume (All Markets)
$979,550,000Awards
MEMBERS 1ST FEDERAL CREDIT UNION - 2021
MEMBERS 1ST FEDERAL CREDIT UNION is a 2021 , due to their low .
For 2021, 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) | 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% |
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Product Mix
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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications78.36%
Members 1st Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination82.35%
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 |
LTV Distribution
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% |