First Priority Federal Credit Union Mortgage Rates, Fees & Info

Huntington,

LEI: 8945001K7B2ZYXWUBZ02

Tax ID: 55-0199905

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    First Priority Federal Credit Union is a smaller credit union specializing in Refi loans. First Priority Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Huntington.

    First Priority Federal Credit Union has an above average approval rate when compared to the average across all lenders.

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    Originations

    28

    Origination Dollar Volume (All Markets)

    $1,670,000

    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
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 26 $1,520,000 $58,462 $573 5.65%
    Outside of Metro Areas 2 $150,000 $75,000 $670 4.24%
    First Priority Federal Credit Union's top markets include and Huntington among others.

    Their top states include:
  • West Virginia (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 28 $1,670,000 $59,643 $580 5.55%

    For 2018, First Priority Federal Credit Union's most frequently originated type of loan was Conventional, with 28 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 22 $1,440,000 $65,455 $549 5.55%
    Home Purchase 5 $195,000 $39,000 $696 5.16%
    Cash Out Refi 1 $35,000 $35,000 $680 7.49%

    For 2018, First Priority Federal Credit Union's most frequently cited loan purpose was Refi, with 22 originations. The 2nd most popular reason was Home Purchase, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 28 $1,670,000 $59,643 $580 5.55%

    For 2018, First Priority Federal Credit Union's most frequently cited loan duration was Other, with 28 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 6 $310,000 $51,667
    4-5% 6 $540,000 $90,000
    5-6% 6 $300,000 $50,000
    7-8% 6 $220,000 $36,667
    6-7% 3 $255,000 $85,000
    Over 8% 1 $45,000 $45,000

    During 2018, First Priority Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 6 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 25 $1,165,000 $46,600 $588 5.69%
    $100k-200k 2 $230,000 $115,000 $645 4.24%
    $200k-400k 1 $275,000 $275,000 $250 4.61%

    2018 saw First Priority Federal Credit Union place emphasis on $100,000 or less loans with 25 originations, totaling $1,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 12 $550,000 $45,833 $578 5.67%
    $50k-75k 7 $385,000 $55,000 $600 6.17%
    $75k-100k 6 $320,000 $53,333 $598 4.59%
    $150k-250k 2 $380,000 $190,000 $420 4.55%
    $100k-150k 1 $35,000 $35,000 $680 7.49%

    First Priority Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 12 originations. The second most popular income band? $50k-75k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 10 $490,000 $49,000 $611 4.85%
    <20% 9 $495,000 $55,000 $624 6.07%
    30-36% 4 $210,000 $52,500 $585 5.40%
    39% 2 $140,000 $70,000 $480 5.19%
    36% 1 $275,000 $275,000 $250 4.61%
    38% 1 $15,000 $15,000 $480 7.49%
    42% 1 $45,000 $45,000 $480 8.08%

    First Priority Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? <20%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 28 $1,670,000 $59,643 $580 5.55%

    Approval Rates

    Total approvals of all applications
    100.00%

    First Priority 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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 28 $1,670,000 $59,643

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $290,000 $48,333
    Single Family (1-4 Units):Site-Built 22 $1,380,000 $62,727

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $25,000 $25,000 $680 4.49%
    40-60% 5 $205,000 $41,000 $558 5.69%
    60-80% 13 $975,000 $75,000 $536 5.25%
    80-100% 7 $365,000 $52,143 $663 5.76%
    Over 100% 1 $85,000 $85,000 $680 6.28%
    Under 20% 1 $15,000 $15,000 $480 7.49%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    First Technology Federal Credit Union Other type of mortgage Trouble during payment process 1 50.0%
    First Technology Federal Credit Union Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%