Wheatland Federal Credit Union Mortgage Rates, Fees & Info

Lancaster, PA

LEI: 549300XC63WNGFOIVV43

Tax ID: 23-1357097

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Mortgage Data

Review & Overview

Wheatland Federal Credit Union is a smaller credit union specializing in Home Improvement and Other loans. Wheatland Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Lancaster.

Wheatland Federal Credit Union has an above 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.34% 3/28/24
15 Year Conventional Purchase 5.68% 3/28/24
15 Year Conventional Refi 6.20% 3/28/24
15 Year Cash-out Refi 6.20% 3/28/24
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.

Wheatland 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 Wheatland 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

15

Origination Dollar Volume (All Markets)

$965,000

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
LANCASTER, PA (FHA|USDA|VA) 13 $775,000 $59,615 $508 7.05%
Outside of Metro Areas 2 $190,000 $95,000 $1,922 6.24%
Wheatland Federal Credit Union's top markets include and Lancaster among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 14 $910,000 $65,000 $710 6.83%
    HELOC 1 $55,000 $55,000 n/a 8.50%

    For 2023, Wheatland Federal Credit Union's most frequently originated type of loan was Conventional, with 14 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 8 $550,000 $68,750 $855 6.71%
    Other 7 $415,000 $59,286 $565 7.20%

    For 2023, Wheatland Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 8 originations. The 2nd most popular reason was Other, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 11 $515,000 $46,818 $542 7.08%
    15 Year 4 $450,000 $112,500 $1,131 6.55%

    For 2023, Wheatland Federal Credit Union's most frequently cited loan duration was 10 Year, with 11 originations. The 2nd most popular length was 15 Year, with 4 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 12 $660,000 $55,000
    $1k-2k 1 $85,000 $85,000
    $3k-4k 1 $165,000 $165,000

    Wheatland Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 12 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 7 $465,000 $66,429
    7-8% 3 $165,000 $55,000
    Over 8% 3 $145,000 $48,333
    5-6% 2 $190,000 $95,000

    During 2023, Wheatland Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 7 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 13 $645,000 $49,615 $508 7.05%
    $100k-200k 2 $320,000 $160,000 $1,922 6.24%

    2023 saw Wheatland Federal Credit Union place emphasis on $100,000 or less loans with 13 originations, totaling $645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 6 $320,000 $53,333 $660 7.28%
    $50k-75k 6 $400,000 $66,667 $322 7.03%
    $75k-100k 2 $80,000 $40,000 $584 6.12%
    $50k or less 1 $165,000 $165,000 $3,540 5.99%

    Wheatland Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $50k-75k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 4 $220,000 $55,000 $1,032 6.87%
    48% 2 $90,000 $45,000 $322 7.74%
    36% 2 $90,000 $45,000 $340 6.49%
    20-30% 2 $230,000 $115,000 $1,940 6.74%
    <20% 1 $55,000 $55,000 $350 6.24%
    50-60% 1 $25,000 $25,000 $305 6.49%
    41% 1 $155,000 $155,000 $305 6.49%
    42% 1 $45,000 $45,000 $340 8.24%
    49% 1 $55,000 $55,000 $340 7.24%

    Wheatland Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 4 originations. The next most common DTI ratio? 48%, with 2 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 14 $890,000 $63,571 $738 6.97%
    Black 1 $75,000 $75,000 $340 6.49%

    Approval Rates

    Total approvals of all applications
    100.00%

    Wheatland Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    66.67%

    Wheatland 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 15 $965,000 $64,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    15 $965,000 $64,333

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $285,000 $57,000 $333 7.34%
    60-80% 1 $155,000 $155,000 $305 6.49%
    80-100% 1 $165,000 $165,000 $3,540 5.99%
    Under 20% 8 $360,000 $45,000 $633 6.87%