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 loans. Horizon Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Williamsport, Lock Haven, State College, Lewisburg, and Sunbury among others. We have data for 10 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 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.

    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
    Home Equity Line of Credit (HELOC) 6.27% 11/22/24
    30 Year Conventional Purchase 6.98% 11/22/24
    30 Year Conventional Refi 6.89% 11/22/24
    30 Year Cash-out Refi 6.95% 11/22/24
    30 Year FHA Purchase 7.69% 11/22/24
    30 Year FHA Refi 6.27% 11/22/24
    30 Year VA Purchase 6.55% 11/22/24
    30 Year VA Refi 6.27% 11/22/24
    30 Year USDA Purchase 6.64% 11/22/24
    15 Year Conventional Purchase 6.49% 11/22/24
    15 Year Conventional Refi 6.18% 11/22/24
    15 Year Cash-out Refi 6.18% 11/22/24
    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

    214

    Origination Dollar Volume (All Markets)

    $17,900,000

    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 $10,530,000 $87,750 $2,468 5.16%
    Lock Haven, PA (FHA|USDA|VA) 60 $4,360,000 $72,667 $2,047 5.05%
    STATE COLLEGE, PA (FHA|USDA|VA) 17 $1,355,000 $79,706 $1,683 4.43%
    Lewisburg, PA (FHA|USDA|VA) 4 $760,000 $190,000 $3,840 3.88%
    Sunbury, PA (FHA|USDA|VA) 4 $310,000 $77,500 $2,545 4.90%
    Outside of Metro Areas 3 $145,000 $48,333 $1,620 4.08%
    ROCHESTER, NY (FHA|USDA|VA) 1 $135,000 $135,000 $6,383 4.13%
    Lewistown, PA (FHA|USDA|VA) 1 $135,000 $135,000 $5,596 5.00%
    DuBois, PA (FHA|USDA|VA) 2 $120,000 $60,000 $516 4.00%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 2 $50,000 $25,000 $491 4.62%
    Horizon Federal Credit Union's top markets include Williamsport, Lock Haven, State College, Lewisburg, and Sunbury among others.

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

    HORIZON Federal Credit Union
    Similarity Rank: 120
    The Muncy Bank and Trust Company
    Similarity Rank: 140
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 342
    Jersey Shore State Bank
    Similarity Rank: 377
    Citizens & Northern Bank
    Similarity Rank: 396
    First Commonwealth Bank
    Similarity Rank: 504
    ALLIED MORTGAGE GROUP, INC.
    Similarity Rank: 1005
    Northwest Bank
    Similarity Rank: 1340
    Mortgage Research Center, LLC
    Similarity Rank: 5556
    Century Mortgage Company DBA Century Lending Company
    Similarity Rank: 10324

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 136 $12,660,000 $93,088 $1,891 4.62%
    HELOC 65 $2,605,000 $40,077 n/a 5.92%
    VA 6 $1,440,000 $240,000 $6,531 4.69%
    FHA 5 $895,000 $179,000 $7,230 3.98%
    USDA 2 $300,000 $150,000 $5,658 5.06%

    For 2022, Horizon Federal Credit Union's most frequently originated type of loan was Conventional, with 136 originations. Their 2nd most popular type was HELOC, with 65 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 64 $2,380,000 $37,188 $287 5.69%
    Home Purchase 55 $9,155,000 $166,455 $4,797 4.86%
    Other 47 $2,135,000 $45,426 $350 5.15%
    Cash Out Refi 27 $2,215,000 $82,037 $1,689 4.05%
    Refi 21 $2,015,000 $95,952 $1,380 4.23%

    For 2022, Horizon Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 64 originations. The 2nd most popular reason was Home Purchase, with 55 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 70 $3,170,000 $45,286 $789 5.94%
    30 Year 60 $10,220,000 $170,333 $4,791 4.85%
    10 Year 27 $1,315,000 $48,704 $355 4.67%
    20 Year 26 $1,880,000 $72,308 $3,577 4.62%
    5 Year 16 $620,000 $38,750 $218 3.31%
    Other 14 $680,000 $48,571 $756 4.35%
    3 Year 1 $15,000 $15,000 $163 4.24%

    For 2022, Horizon Federal Credit Union's most frequently cited loan duration was 15 Year, with 70 originations. The 2nd most popular length was 30 Year, with 60 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 41 $5,775,000 $140,854
    $<1k 23 $4,215,000 $183,261
    $2k-3k 2 $400,000 $200,000
    $3k-4k 2 $500,000 $250,000
    $4k-5k 1 $265,000 $265,000
    $5k+ 1 $185,000 $185,000

    Horizon Federal Credit Union's average total fees were $4,791, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 41 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 60 $5,310,000 $88,500
    4-5% 46 $4,110,000 $89,348
    5-6% 41 $4,695,000 $114,512
    6-7% 23 $1,655,000 $71,957
    2.5-3% 14 $740,000 $52,857
    Over 8% 12 $330,000 $27,500
    7-8% 11 $665,000 $60,455
    <2.5% 7 $395,000 $56,429

    During 2022, Horizon Federal Credit Union's average interest rate for loans was 4.85%, while their most frequently originated rate bucket for loans was 3-4%, with 60 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 149 $6,625,000 $44,463 $688 5.10%
    $100k-200k 52 $7,710,000 $148,269 $4,079 4.78%
    $200k-400k 13 $3,565,000 $274,231 $5,932 4.83%

    2022 saw Horizon Federal Credit Union place emphasis on $100,000 or less loans with 149 originations, totaling $6,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 58 $5,610,000 $96,724 $2,789 5.21%
    $75k-100k 50 $3,930,000 $78,600 $2,295 5.18%
    $100k-150k 48 $4,180,000 $87,083 $2,023 4.96%
    $50k or less 48 $3,560,000 $74,167 $2,352 4.76%
    $150k-250k 10 $620,000 $62,000 $197 4.32%

    Horizon Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 58 originations. The second most popular income band? $75k-100k, with 50 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 67 $4,445,000 $66,343 $1,426 5.30%
    30-36% 38 $3,550,000 $93,421 $2,190 5.12%
    <20% 33 $1,895,000 $57,424 $1,688 4.70%
    41% 11 $1,355,000 $123,182 $3,037 5.15%
    39% 10 $920,000 $92,000 $2,563 4.96%
    38% 10 $720,000 $72,000 $1,955 4.50%
    42% 9 $685,000 $76,111 $2,348 5.00%
    36% 7 $715,000 $102,143 $2,052 4.02%
    37% 6 $240,000 $40,000 $1,696 5.17%
    40% 6 $770,000 $128,333 $3,854 5.58%
    43% 6 $680,000 $113,333 $4,556 4.75%
    46% 5 $875,000 $175,000 $6,088 4.78%
    44% 2 $380,000 $190,000 $4,522 4.00%
    45% 1 $105,000 $105,000 $6,091 3.13%
    47% 1 $155,000 $155,000 $6,545 4.50%
    49% 1 $195,000 $195,000 $3,847 3.88%
    50-60% 1 $215,000 $215,000 $2,872 6.13%

    Horizon Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 67 originations. The next most common DTI ratio? 30-36%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 210 $17,310,000 $82,429 $2,244 5.00%
    Asian 2 $410,000 $205,000 $5,842 5.06%
    Black 2 $180,000 $90,000 $5,596 6.13%

    Approval Rates

    Total approvals of all applications
    77.97%

    Horizon Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    64.49%

    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 214 $17,900,000 $83,645

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    214 $17,900,000 $83,645

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 40 $2,030,000 $50,750 $500 5.31%
    40-60% 38 $2,470,000 $65,000 $688 4.64%
    60-80% 31 $3,965,000 $127,903 $2,892 4.47%
    80-100% 48 $7,660,000 $159,583 $4,669 4.78%
    Over 100% 1 $325,000 $325,000 $10,837 5.13%
    Under 20% 56 $1,450,000 $25,893 $315 5.53%