Frick Financial Federal Credit Union Mortgage Rates, Fees & Info
Uniontown, PALEI: 549300Z6CULHNPDHYI25
Tax ID: 25-6053277
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Mortgage Data
Review & Overview
Frick Financial Federal Credit Union is a smaller credit union specializing in Home Improvement, Cash Out Refi, and Home Purchase loans. Frick Financial Federal Credit Union has a high proportion of conventional loans. Their top two markets are Pittsburgh and Oil City .Frick Financial Federal Credit Union has an above average approval rate when compared to the average across all lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 11/17/24 |
| 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. | ||
Frick Financial 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
104Origination Dollar Volume (All Markets)
$6,110,000Top 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 |
|---|---|---|---|---|---|
| PITTSBURGH, PA (FHA|USDA|VA) | 86 | $4,900,000 | $56,977 | $0 | 7.27% |
| Outside of Metro Areas | 17 | $1,175,000 | $69,118 | $0 | 6.90% |
| Oil City, PA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.99% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 104 | $6,110,000 | $58,750 | $0 | 7.20% |
For 2023, Frick Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 104 originations.
Loan Reason
For 2023, Frick Financial Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 34 originations. The 2nd most popular reason was Cash Out Refi, with 28 originations.
Loan Duration/Length
For 2023, Frick Financial Federal Credit Union's most frequently cited loan duration was 20 Year, with 30 originations. The 2nd most popular length was 10 Year, with 28 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 104 | $6,110,000 | $58,750 |
Frick Financial 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 104 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 36 | $2,060,000 | $57,222 |
| 6-7% | 32 | $2,110,000 | $65,938 |
| 5-6% | 18 | $980,000 | $54,444 |
| Over 8% | 17 | $875,000 | $51,471 |
| 4-5% | 1 | $85,000 | $85,000 |
During 2023, Frick Financial Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 36 originations.
Loan Sizing
2023 saw Frick Financial Federal Credit Union place emphasis on $100,000 or less loans with 92 originations, totaling $4,330,000 in origination value.
Applicant Income
Frick Financial Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 31 originations. The second most popular income band? $50k-75k, with 24 originations.
Applicant Debt to Income Ratio
Frick Financial Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 32 originations. The next most common DTI ratio? 20-30%, with 27 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 93 | $5,615,000 | $60,376 | $0 | 7.12% |
| Black | 11 | $495,000 | $45,000 | $0 | 7.83% |
Approval Rates
Total approvals of all applications97.20%
Frick Financial 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 104 | $6,110,000 | $58,750 |