Greater Woodlawn Federal Credit Union Mortgage Rates, Fees & Info

BLASDELL, NY

LEI: 549300VYEO55JM1VUZ93

Tax ID: 16-0977338

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

    Greater Woodlawn Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Greater Woodlawn Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Buffalo, Jamestown, and Olean among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Greater Woodlawn Federal Credit Union has an average approval rate when compared to the average across all lenders. Greater Woodlawn 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.32% 4/28/24
    30 Year Cash-out Refi 4.93% 4/28/24
    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.

    Greater Woodlawn 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 Greater Woodlawn 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

    63

    Origination Dollar Volume (All Markets)

    $6,595,000

    Awards

    GREATER WOODLAWN FEDERAL CREDIT UNION 30 Year Conventional Loans silver GREATER WOODLAWN FEDERAL CREDIT UNION 30 Year Conventional Loans gold GREATER WOODLAWN FEDERAL CREDIT UNION 30 Year Conventional Loans gold GREATER WOODLAWN FEDERAL CREDIT UNION 30 Year Conventional Loans gold
    Show all (4) awards

    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
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 41 $4,175,000 $101,829 $2,082 4.33%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 21 $2,245,000 $106,905 $2,789 4.14%
    Olean, NY (FHA|USDA|VA) 1 $175,000 $175,000 $4,070 4.10%
    Greater Woodlawn Federal Credit Union's top markets include Buffalo, Jamestown, and Olean among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against GREATER WOODLAWN FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    GREATER WOODLAWN FEDERAL CREDIT UNION
    Similarity Rank: 48
    ONTARIO SHORES
    Similarity Rank: 52
    Moog Employees Federal Credit Union
    Similarity Rank: 130
    SEFCU SERVICES, LLC
    Similarity Rank: 312
    Fairport Savings Bank
    Similarity Rank: 336
    Five Star Bank
    Similarity Rank: 377
    Syracuse Securities, Inc.
    Similarity Rank: 1176
    1ST PRIORITY MORTGAGE, INC.
    Similarity Rank: 1575
    Community Bank
    Similarity Rank: 1656
    OWNERSCHOICE FUNDING, INCORPORATED
    Similarity Rank: 1922

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 63 $6,595,000 $104,683 $2,349 4.26%

    For 2018, Greater Woodlawn Federal Credit Union's most frequently originated type of loan was Conventional, with 63 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 31 $3,865,000 $124,677 $3,269 4.11%
    Home Improvement 17 $545,000 $32,059 $647 4.63%
    Cash Out Refi 12 $1,580,000 $131,667 $2,142 4.17%
    Refi 2 $450,000 $225,000 $3,291 4.00%
    Other 1 $155,000 $155,000 $3,391 4.24%

    For 2018, Greater Woodlawn Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 31 originations. The 2nd most popular reason was Home Improvement, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 35 $4,495,000 $128,429 $3,179 4.11%
    10 Year 13 $425,000 $32,692 $524 4.75%
    Other 8 $980,000 $122,500 $2,121 4.06%
    5 Year 3 $65,000 $21,667 $452 4.58%
    15 Year 2 $300,000 $150,000 $2,990 4.10%
    20 Year 2 $330,000 $165,000 $2,815 4.17%

    For 2018, Greater Woodlawn Federal Credit Union's most frequently cited loan duration was 30 Year, with 35 originations. The 2nd most popular length was 10 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 28 $4,390,000 $156,786

    Greater Woodlawn Federal Credit Union's average total fees were $3,179, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 28 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 51 $5,125,000 $100,490
    3-4% 12 $1,470,000 $122,500

    During 2018, Greater Woodlawn Federal Credit Union's average interest rate for loans was 4.11%, while their most frequently originated rate bucket for loans was 4-5%, with 51 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 33 $1,525,000 $46,212 $1,357 4.41%
    $100k-200k 25 $3,625,000 $145,000 $3,085 4.09%
    $200k-400k 5 $1,445,000 $289,000 $5,220 4.17%

    2018 saw Greater Woodlawn Federal Credit Union place emphasis on $100,000 or less loans with 33 originations, totaling $1,525,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 20 $1,670,000 $83,500 $1,949 4.27%
    $50k or less 18 $1,460,000 $81,111 $2,344 4.16%
    $100k-150k 9 $945,000 $105,000 $1,979 4.30%
    $150k-250k 8 $1,810,000 $226,250 $3,985 4.23%
    $75k-100k 8 $710,000 $88,750 $2,144 4.46%

    Greater Woodlawn Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $50k or less, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 22 $2,800,000 $127,273 $2,505 4.26%
    30-36% 17 $1,835,000 $107,941 $2,717 4.13%
    <20% 6 $510,000 $85,000 $1,919 4.53%
    38% 4 $240,000 $60,000 $962 4.59%
    39% 4 $410,000 $102,500 $2,415 4.12%
    40% 3 $255,000 $85,000 $1,844 4.35%
    41% 3 $245,000 $81,667 $2,197 4.15%
    36% 2 $200,000 $100,000 $3,276 4.12%
    42% 1 $35,000 $35,000 $574 4.75%
    37% 1 $65,000 $65,000 $2,447 4.10%

    Greater Woodlawn Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? 30-36%, with 17 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 62 $6,570,000 $105,968 $2,380 4.25%
    Black 1 $25,000 $25,000 $442 4.75%

    Approval Rates

    Total approvals of all applications
    88.73%

    Greater Woodlawn Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 63 $6,595,000 $104,683

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 63 $6,595,000 $104,683

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $310,000 $77,500 $1,431 4.36%
    40-60% 6 $540,000 $90,000 $1,828 4.29%
    60-80% 12 $1,510,000 $125,833 $2,745 4.07%
    80-100% 29 $3,925,000 $135,345 $3,194 4.14%
    Under 20% 12 $310,000 $25,833 $480 4.71%