Inspire Federal Credit Union Mortgage Rates, Fees & Info

Newtown, PA

LEI: 549300U001ZTHCHO4196

Tax ID: 23-1390605

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Inspire Federal Credit Union is a smaller credit union specializing in Refi loans. Inspire Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, New York, and Sayre among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Inspire 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.

    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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Refi 5.42% 11/21/24
    15 Year Conventional Refi 7.11% 11/21/24
    15 Year Cash-out Refi 7.11% 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.

    Inspire 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 Inspire 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

    114

    Origination Dollar Volume (All Markets)

    $13,890,000

    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
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 110 $12,870,000 $117,000 $271 3.82%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 3 $985,000 $328,333 $250 3.04%
    Sayre, PA (FHA|USDA|VA) 1 $35,000 $35,000 $250 3.49%
    Inspire Federal Credit Union's top markets include Philadelphia, New York, and Sayre among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 114 $13,890,000 $121,842 $270 3.79%

    For 2020, Inspire Federal Credit Union's most frequently originated type of loan was Conventional, with 114 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 43 $7,875,000 $183,140 $265 3.15%
    Home Improvement 31 $1,985,000 $64,032 $300 4.03%
    Other 27 $2,445,000 $90,556 $258 5.04%
    Cash Out Refi 9 $1,185,000 $131,667 $250 2.94%
    Home Purchase 4 $400,000 $100,000 $250 2.45%

    For 2020, Inspire Federal Credit Union's most frequently cited loan purpose was Refi, with 43 originations. The 2nd most popular reason was Home Improvement, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 42 $8,110,000 $193,095 $250 3.44%
    10 Year 27 $2,215,000 $82,037 $282 4.43%
    Other 27 $2,405,000 $89,074 $270 3.34%
    5 Year 10 $500,000 $50,000 $340 3.23%
    20 Year 6 $610,000 $101,667 $250 6.74%
    3 Year 2 $50,000 $25,000 $250 2.75%

    For 2020, Inspire Federal Credit Union's most frequently cited loan duration was 15 Year, with 42 originations. The 2nd most popular length was 10 Year, with 27 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 50 $9,180,000 $183,600
    3-4% 30 $2,350,000 $78,333
    6-7% 10 $470,000 $47,000
    <2.5% 7 $475,000 $67,857
    7-8% 6 $420,000 $70,000
    5-6% 5 $425,000 $85,000
    4-5% 4 $430,000 $107,500
    Over 8% 2 $140,000 $70,000

    During 2020, Inspire Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 50 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 66 $3,560,000 $53,939 $284 4.17%
    $100k-200k 30 $4,500,000 $150,000 $250 3.44%
    $200k-400k 16 $4,580,000 $286,250 $250 3.06%
    $400k-600k 1 $575,000 $575,000 $250 2.75%
    $600k-1MM 1 $675,000 $675,000 $250 2.75%

    2020 saw Inspire Federal Credit Union place emphasis on $100,000 or less loans with 66 originations, totaling $3,560,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 34 $4,280,000 $125,882 $267 4.05%
    $150k-250k 24 $3,560,000 $148,333 $250 3.65%
    $75k-100k 24 $1,860,000 $77,500 $285 3.69%
    $50k-75k 17 $1,325,000 $77,941 $267 3.72%
    $50k or less 8 $770,000 $96,250 $325 4.00%
    $250k+ 6 $2,020,000 $336,667 $250 2.75%

    Inspire Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 34 originations. The second most popular income band? $150k-250k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 44 $5,720,000 $130,000 $273 3.16%
    30-36% 16 $2,010,000 $125,625 $265 4.80%
    <20% 9 $1,405,000 $156,111 $250 3.86%
    42% 6 $980,000 $163,333 $250 3.60%
    44% 5 $555,000 $111,000 $250 4.10%
    38% 4 $270,000 $67,500 $250 5.46%
    50-60% 4 $670,000 $167,500 $250 5.37%
    >60% 3 $495,000 $165,000 $0 3.46%
    37% 3 $345,000 $115,000 $250 3.33%
    39% 3 $155,000 $51,667 $400 2.95%
    40% 3 $295,000 $98,333 $300 4.91%
    43% 3 $355,000 $118,333 $325 3.03%
    49% 3 $205,000 $68,333 $250 5.28%
    48% 2 $100,000 $50,000 $250 1.30%
    45% 2 $50,000 $25,000 $0 4.25%
    46% 2 $80,000 $40,000 $250 5.05%
    47% 1 $145,000 $145,000 $0 2.75%
    36% 1 $55,000 $55,000 $250 3.79%

    Inspire Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 44 originations. The next most common DTI ratio? 30-36%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 105 $11,855,000 $112,905 $273 3.81%
    Not provided 5 $1,255,000 $251,000 $250 3.20%
    Black 2 $380,000 $190,000 $250 5.32%
    Asian 1 $255,000 $255,000 $0 2.75%
    American Indian 1 $145,000 $145,000 $250 3.50%

    Approval Rates

    Total approvals of all applications
    86.36%

    Inspire Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    66.67%

    Inspire Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 114 $13,890,000 $121,842

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 114 $13,890,000 $121,842

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $5,155,000 $139,324 $250 3.54%
    40-60% 17 $3,395,000 $199,706 $250 3.18%
    60-80% 13 $3,055,000 $235,000 $250 3.02%
    80-100% 1 $205,000 $205,000 $250 3.75%
    Under 20% 46 $2,080,000 $45,217 $302 4.45%