Horizon Federal Credit Union Mortgage Rates, Fees & Info

Williamsport, PA

LEI: 549300UI713YO3L6SF02

Tax ID: 24-0840764

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
  • Similar Lenders
  • 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

    Horizon Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Horizon Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Williamsport, Lock Haven, Sunbury, Reading, and State College among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Horizon 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. Horizon 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.

    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% 11/17/24
    30 Year Conventional Purchase 6.98% 11/17/24
    30 Year Conventional Refi 6.89% 11/17/24
    30 Year Cash-out Refi 6.95% 11/17/24
    30 Year FHA Purchase 7.69% 11/17/24
    30 Year FHA Refi 6.27% 11/17/24
    30 Year VA Purchase 6.55% 11/17/24
    30 Year VA Refi 6.27% 11/17/24
    30 Year USDA Purchase 6.64% 11/17/24
    15 Year Conventional Purchase 6.49% 11/17/24
    15 Year Conventional Refi 6.18% 11/17/24
    15 Year Cash-out Refi 6.18% 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.

    Horizon 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 Horizon 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

    187

    Origination Dollar Volume (All Markets)

    $16,995,000

    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
    WILLIAMSPORT, PA (FHA|USDA|VA) 120 $11,630,000 $96,917 $2,547 3.86%
    Lock Haven, PA (FHA|USDA|VA) 57 $4,145,000 $72,719 $2,097 4.03%
    Outside of Metro Areas 3 $465,000 $155,000 $2,474 3.79%
    Sunbury, PA (FHA|USDA|VA) 3 $455,000 $151,667 $4,639 3.17%
    READING, PA (FHA|USDA|VA) 1 $215,000 $215,000 $3,912 3.50%
    STATE COLLEGE, PA (FHA|USDA|VA) 2 $60,000 $30,000 $0 4.63%
    LANCASTER, PA (FHA|USDA|VA) 1 $25,000 $25,000 $190 4.25%
    Horizon Federal Credit Union's top markets include Williamsport, Lock Haven, Sunbury, Reading, and State College among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against HORIZON Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Susquehanna Community Bank
    Similarity Rank: 96
    HORIZON Federal Credit Union
    Similarity Rank: 98
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 380
    Jersey Shore State Bank
    Similarity Rank: 500
    Citizens & Northern Bank
    Similarity Rank: 528
    Northwest Bank
    Similarity Rank: 625
    First Commonwealth Bank
    Similarity Rank: 1548
    ALLIED MORTGAGE GROUP, INC.
    Similarity Rank: 1632
    FREEDOM MORTGAGE CORPORATION
    Similarity Rank: 1846
    MYCUMORTGAGE, LLC
    Similarity Rank: 2567

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 119 $12,425,000 $104,412 $2,219 3.72%
    HELOC 52 $2,030,000 $39,038 n/a 4.51%
    USDA 9 $1,235,000 $137,222 $4,932 3.18%
    VA 7 $1,305,000 $186,429 $3,405 3.41%

    For 2020, Horizon Federal Credit Union's most frequently originated type of loan was Conventional, with 119 originations. Their 2nd most popular type was HELOC, with 52 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 45 $6,615,000 $147,000 $4,014 3.46%
    Home Improvement 39 $1,715,000 $43,974 $564 4.42%
    Refi 38 $4,000,000 $105,263 $2,463 3.43%
    Cash Out Refi 37 $3,365,000 $90,946 $2,042 3.98%
    Other 28 $1,300,000 $46,429 $430 4.43%

    For 2020, Horizon Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Home Improvement, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 67 $3,695,000 $55,149 $1,632 4.18%
    30 Year 55 $8,705,000 $158,273 $3,880 3.53%
    20 Year 28 $2,980,000 $106,429 $3,439 3.73%
    10 Year 16 $900,000 $56,250 $1,414 4.17%
    5 Year 12 $330,000 $27,500 $189 3.93%
    Other 9 $385,000 $42,778 $264 4.18%

    For 2020, Horizon Federal Credit Union's most frequently cited loan duration was 15 Year, with 67 originations. The 2nd most popular length was 30 Year, with 55 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 62 $9,070,000 $146,290
    $1k-2k 20 $2,950,000 $147,500
    $2k-3k 3 $455,000 $151,667
    $3k-4k 1 $185,000 $185,000
    $5k+ 1 $235,000 $235,000

    Horizon Federal Credit Union's average total fees were $3,880, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 62 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 94 $9,600,000 $102,128
    4-5% 39 $2,505,000 $64,231
    2.5-3% 29 $3,675,000 $126,724
    5-6% 11 $335,000 $30,455
    <2.5% 8 $740,000 $92,500
    6-7% 3 $65,000 $21,667
    Over 8% 2 $50,000 $25,000
    7-8% 1 $25,000 $25,000

    During 2020, Horizon Federal Credit Union's average interest rate for loans was 3.53%, while their most frequently originated rate bucket for loans was 3-4%, with 94 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 124 $5,910,000 $47,661 $1,332 4.16%
    $100k-200k 46 $6,600,000 $143,478 $3,474 3.42%
    $200k-400k 16 $3,980,000 $248,750 $4,607 3.32%
    $400k-600k 1 $505,000 $505,000 $5,080 3.75%

    2020 saw Horizon Federal Credit Union place emphasis on $100,000 or less loans with 124 originations, totaling $5,910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 54 $4,220,000 $78,148 $2,494 3.95%
    $50k-75k 52 $3,830,000 $73,654 $2,444 3.90%
    $75k-100k 50 $5,190,000 $103,800 $2,270 3.88%
    $100k-150k 20 $1,920,000 $96,000 $2,269 3.95%
    $150k-250k 9 $1,585,000 $176,111 $4,024 3.79%
    $250k+ 2 $250,000 $125,000 $3,180 3.31%

    Horizon Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 54 originations. The second most popular income band? $50k-75k, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 54 $3,940,000 $72,963 $2,072 3.91%
    30-36% 43 $4,265,000 $99,186 $2,661 4.20%
    <20% 31 $2,245,000 $72,419 $2,296 3.57%
    36% 10 $990,000 $99,000 $1,456 3.82%
    41% 9 $1,085,000 $120,556 $2,827 3.42%
    37% 8 $680,000 $85,000 $2,069 4.17%
    38% 5 $295,000 $59,000 $2,778 4.75%
    40% 5 $525,000 $105,000 $2,780 3.63%
    43% 5 $935,000 $187,000 $4,605 3.58%
    >60% 3 $445,000 $148,333 $4,240 4.42%
    39% 3 $105,000 $35,000 $224 5.16%
    42% 3 $315,000 $105,000 $2,423 3.51%
    44% 3 $415,000 $138,333 $2,966 2.88%
    46% 1 $125,000 $125,000 $4,210 4.13%
    47% 1 $215,000 $215,000 $3,826 3.38%
    48% 1 $85,000 $85,000 $2,834 3.75%
    50-60% 1 $115,000 $115,000 $0 3.00%
    45% 1 $215,000 $215,000 $3,912 3.50%

    Horizon Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 54 originations. The next most common DTI ratio? 30-36%, with 43 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 182 $16,520,000 $90,769 $2,465 3.91%
    Not provided 1 $195,000 $195,000 $3,180 2.63%
    Asian Indian 1 $105,000 $105,000 $3,605 3.25%
    Black 1 $105,000 $105,000 $3,227 3.00%
    American Indian 1 $45,000 $45,000 $268 4.00%
    Other Asian 1 $25,000 $25,000 $622 4.75%

    Approval Rates

    Total approvals of all applications
    76.14%

    Horizon Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    63.64%

    Horizon 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 187 $16,995,000 $90,882

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $285,000 $95,000
    Single Family (1-4 Units):Site-Built 184 $16,710,000 $90,815

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $1,080,000 $38,571 $445 4.50%
    40-60% 35 $2,505,000 $71,571 $1,582 3.68%
    60-80% 35 $3,955,000 $113,000 $2,605 3.61%
    80-100% 52 $8,210,000 $157,885 $3,864 3.52%
    Over 100% 2 $350,000 $175,000 $3,896 3.31%
    Under 20% 35 $895,000 $25,571 $489 4.56%