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 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, Lancaster, York, Lebanon, and Gettysburg among others. We have data for 53 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 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% | 11/21/24 |
| 30 Year Conventional Purchase | 6.64% | 11/21/24 |
| 30 Year Conventional Refi | 6.63% | 11/21/24 |
| 30 Year Cash-out Refi | 6.70% | 11/21/24 |
| 30 Year FHA Purchase | 7.33% | 11/21/24 |
| 30 Year FHA Refi | 7.02% | 11/21/24 |
| 30 Year VA Purchase | 6.18% | 11/21/24 |
| 30 Year VA Refi | 6.41% | 11/21/24 |
| 30 Year USDA Purchase | 6.80% | 11/21/24 |
| 15 Year Conventional Purchase | 6.16% | 11/21/24 |
| 15 Year Conventional Refi | 6.29% | 11/21/24 |
| 15 Year Cash-out Refi | 6.29% | 11/21/24 |
| 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
6,976Origination Dollar Volume (All Markets)
$831,580,000Awards
MEMBERS 1ST FEDERAL CREDIT UNION - 2022
MEMBERS 1ST FEDERAL CREDIT UNION is a 2022 , due to their low .
For 2022, 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) | 2,595 | $308,485,000 | $118,877 | $2,607 | 3.50% |
| LANCASTER, PA (FHA|USDA|VA) | 1,360 | $174,980,000 | $128,662 | $2,751 | 3.16% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1,575 | $156,225,000 | $99,190 | $2,195 | 3.33% |
| LEBANON, PA (FHA|USDA|VA) | 402 | $59,220,000 | $147,313 | $3,918 | 3.66% |
| GETTYSBURG, PA (FHA|USDA|VA) | 307 | $35,095,000 | $114,316 | $2,268 | 3.17% |
| READING, PA (FHA|USDA|VA) | 171 | $19,955,000 | $116,696 | $2,131 | 3.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 99 | $15,575,000 | $157,323 | $514 | 3.41% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 107 | $13,905,000 | $129,953 | $1,833 | 3.33% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 87 | $8,555,000 | $98,333 | $2,728 | 3.40% |
| Pottsville, PA (FHA|USDA|VA) | 50 | $7,530,000 | $150,600 | $3,761 | 3.89% |
| Outside of Metro Areas | 39 | $5,335,000 | $136,795 | $4,023 | 3.66% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 36 | $5,240,000 | $145,556 | $2,675 | 3.59% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 10 | $3,050,000 | $305,000 | $6,434 | 4.50% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 11 | $2,235,000 | $203,182 | $2,071 | 3.05% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 10 | $1,720,000 | $172,000 | $2,635 | 4.64% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 8 | $1,500,000 | $187,500 | $7,284 | 3.81% |
| PITTSBURGH, PA (FHA|USDA|VA) | 12 | $1,410,000 | $117,500 | $3,575 | 3.94% |
| Lewistown, PA (FHA|USDA|VA) | 13 | $925,000 | $71,154 | $1,550 | 4.37% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 16 | $920,000 | $57,500 | $615 | 3.35% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 6 | $850,000 | $141,667 | $2,690 | 4.11% |
| Gloversville, NY (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $10,492 | 5.38% |
| Huntingdon, PA (FHA|USDA|VA) | 6 | $610,000 | $101,667 | $4,404 | 3.72% |
| DOVER, DE (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $3,937 | 5.13% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $6,897 | 4.06% |
| Selinsgrove, PA (FHA|USDA|VA) | 8 | $510,000 | $63,750 | $1,510 | 3.39% |
| Sunbury, PA (FHA|USDA|VA) | 6 | $480,000 | $80,000 | $1,048 | 3.43% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 4.88% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $6,919 | 5.88% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $5,668 | 6.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,301 | 6.38% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $5,421 | 3.38% |
| Lewisburg, PA (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $1,049 | 3.51% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $3,482 | 4.04% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,648 | 5.88% |
| DuBois, PA (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $3,273 | 2.99% |
| DECATUR, AL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,196 | 4.75% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,942 | 4.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,624 | 3.25% |
| New Castle, PA (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 5.72% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,593 | 5.50% |
| Sayre, PA (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $4,602 | 3.93% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 3 | $145,000 | $48,333 | $3,433 | 5.67% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,323 | 3.25% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,751 | 3.38% |
| ALTOONA, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,470 | 5.25% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,824 | 3.13% |
| Easton, MD (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 5.62% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 6.50% |
| Somerset, PA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,669 | 6.25% |
| Meadville, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,522 | 5.38% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 1.99% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,276 | 6.00% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $3,708 | 4.25% |
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 2022, Members 1st Federal Credit Union's most frequently originated type of loan was HELOC, with 4,420 originations. Their 2nd most popular type was Conventional, with 2,481 originations.
Loan Reason
For 2022, Members 1st Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 2,875 originations. The 2nd most popular reason was Refi, with 1,440 originations.
Loan Duration/Length
For 2022, Members 1st Federal Credit Union's most frequently cited loan duration was 30 Year, with 5,518 originations. The 2nd most popular length was 10 Year, with 590 originations.
Origination Fees/Closing Costs
Members 1st Federal Credit Union's average total fees were $5,265, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,837 originations.
Interest Rates
During 2022, Members 1st Federal Credit Union's average interest rate for loans was 3.03%, while their most frequently originated rate bucket for loans was <2.5%, with 3,525 originations.
Loan Sizing
2022 saw Members 1st Federal Credit Union place emphasis on $100,000 or less loans with 4,038 originations, totaling $203,280,000 in origination value.
Applicant Income
Members 1st Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,960 originations. The second most popular income band? $50k-75k, with 1,379 originations.
Applicant Debt to Income Ratio
Members 1st Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,925 originations. The next most common DTI ratio? 30-36%, with 1,431 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications70.25%
Members 1st Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination82.33%
Members 1st Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 6,976 | $831,580,000 | $119,206 |