Wheatland Federal Credit Union Mortgage Rates, Fees & Info
Lancaster, PALEI: 549300XC63WNGFOIVV43
Tax ID: 23-1357097
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Mortgage Data
Review & Overview
Wheatland Federal Credit Union is a smaller credit union specializing in Refi loans. Wheatland Federal Credit Union has a high proportion of conventional loans. Their top two markets are Lancaster and York .Wheatland Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.34% | 12/17/24 |
| 15 Year Conventional Purchase | 5.68% | 12/17/24 |
| 15 Year Conventional Refi | 6.20% | 12/17/24 |
| 15 Year Cash-out Refi | 6.20% | 12/17/24 |
| 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. | ||
Wheatland Federal Credit Union Mortgage Calculator
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Originations
46Origination Dollar Volume (All Markets)
$5,750,000Top 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) | 45 | $5,675,000 | $126,111 | $1,642 | 3.64% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $340 | 4.74% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 38 | $4,710,000 | $123,947 | $1,606 | 3.56% |
| HELOC | 8 | $1,040,000 | $130,000 | n/a | 4.18% |
For 2022, Wheatland Federal Credit Union's most frequently originated type of loan was Conventional, with 38 originations. Their 2nd most popular type was HELOC, with 8 originations.
Loan Reason
For 2022, Wheatland Federal Credit Union's most frequently cited loan purpose was Refi, with 30 originations. The 2nd most popular reason was Home Improvement, with 12 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 23 | $3,745,000 | $162,826 | $2,095 | 3.12% |
| 10 Year | 21 | $1,945,000 | $92,619 | $851 | 4.33% |
| 5 Year | 2 | $60,000 | $30,000 | $520 | 2.99% |
For 2022, Wheatland Federal Credit Union's most frequently cited loan duration was 15 Year, with 23 originations. The 2nd most popular length was 10 Year, with 21 originations.
Origination Fees/Closing Costs
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 21 originations.
Interest Rates
During 2022, Wheatland 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 12 originations.
Loan Sizing
2022 saw Wheatland Federal Credit Union place emphasis on $100k-200k loans with 20 originations, totaling $2,710,000 in origination value.
Applicant Income
Wheatland Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $50k-75k, with 12 originations.
Applicant Debt to Income Ratio
Wheatland Federal Credit Union lent most frequently to those with DTI ratios of 50-60%, with 13 originations. The next most common DTI ratio? >60%, with 9 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 origination97.83%
Wheatland Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 397.75 | 1 | $65,000 | $65,000 |
| 422.75 | 2 | $210,000 | $105,000 |
| NA | 43 | $5,475,000 | $127,326 |