Palco Federal Credit Union Mortgage Rates, Fees & Info
Muncy, PALEI: 549300YZRLQQC62C3P68
Tax ID: 24-0796253
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Mortgage Data
Review & Overview
Palco Federal Credit Union is a smaller credit union specializing in Other and Cash Out Refi loans. Palco Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Williamsport, Bloomsburg, Selinsgrove, Pottsville, and Scranton among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Palco Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Palco 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.97% | 11/23/24 |
| 15 Year Conventional Refi | 5.68% | 11/23/24 |
| 15 Year Cash-out Refi | 5.68% | 11/23/24 |
| 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. | ||
Palco Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
16Origination Dollar Volume (All Markets)
$1,100,000Top 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 |
|---|---|---|---|---|---|
| WILLIAMSPORT, PA (FHA|USDA|VA) | 7 | $525,000 | $75,000 | $2,019 | 3.73% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 3 | $255,000 | $85,000 | $1,185 | 3.70% |
| Selinsgrove, PA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $400 | 3.49% |
| Pottsville, PA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $400 | 3.99% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $400 | 3.49% |
| Sunbury, PA (FHA|USDA|VA) | 2 | $50,000 | $25,000 | $400 | 3.24% |
| Outside of Metro Areas | 1 | $35,000 | $35,000 | $400 | 3.49% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 16 | $1,100,000 | $68,750 | $1,255 | 3.63% |
For 2019, Palco Federal Credit Union's most frequently originated type of loan was Conventional, with 16 originations.
Loan Reason
For 2019, Palco Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 6 originations. The 2nd most popular reason was Other, with 6 originations.
Loan Duration/Length
For 2019, Palco Federal Credit Union's most frequently cited loan duration was Other, with 8 originations. The 2nd most popular length was 10 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2 | $280,000 | $140,000 |
| $2k-3k | 1 | $105,000 | $105,000 |
| $3k-4k | 1 | $125,000 | $125,000 |
Palco Federal Credit Union's average total fees were $4,927, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 12 | $890,000 | $74,167 |
| 2.5-3% | 3 | $55,000 | $18,333 |
| 4-5% | 1 | $155,000 | $155,000 |
During 2019, Palco Federal Credit Union's average interest rate for loans was 3.75%, while their most frequently originated rate bucket for loans was 3-4%, with 12 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 12 | $590,000 | $49,167 | $400 | 3.57% |
| $100k-200k | 4 | $510,000 | $127,500 | $3,822 | 3.81% |
2019 saw Palco Federal Credit Union place emphasis on $100,000 or less loans with 12 originations, totaling $590,000 in origination value.
Applicant Income
Palco Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 5 originations. The second most popular income band? $100k-150k, with 4 originations.
Applicant Debt to Income Ratio
Palco Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 5 originations. The next most common DTI ratio? 30-36%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 15 | $1,015,000 | $67,667 | $1,313 | 3.61% |
| Not provided | 1 | $85,000 | $85,000 | $400 | 3.99% |
Approval Rates
Total approvals of all applications77.27%
Palco Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination93.75%
Palco Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 16 | $1,100,000 | $68,750 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 16 | $1,100,000 | $68,750 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Pluese, Becker & Saltzman, LLC | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |