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

Jump to:

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 Home Purchase and Cash Out Refi loans. First Priority Federal Credit Union has a high proportion of conventional loans. Their top two markets are Huntington and Charleston .

    First Priority 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. First Priority Federal Credit Union is typically a low 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    11

    Origination Dollar Volume (All Markets)

    $615,000

    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) 10 $590,000 $59,000 $1,572 4.66%
    CHARLESTON, WV (FHA|USDA|VA) 1 $25,000 $25,000 $1,253 4.49%
    First Priority Federal Credit Union's top markets include Huntington and Charleston among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 11 $615,000 $55,909 $1,543 4.65%

    For 2019, First Priority Federal Credit Union's most frequently originated type of loan was Conventional, with 11 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 6 $370,000 $61,667 $1,539 4.80%
    Cash Out Refi 3 $205,000 $68,333 $1,809 4.77%
    Refi 2 $40,000 $20,000 $1,157 3.99%

    For 2019, First Priority Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 6 originations. The 2nd most popular reason was Cash Out Refi, with 3 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 5 $175,000 $35,000 $1,552 4.59%
    30 Year 3 $285,000 $95,000 $1,751 4.28%
    5 Year 2 $50,000 $25,000 $1,067 4.74%
    Other 1 $105,000 $105,000 $1,831 5.84%

    For 2019, First Priority Federal Credit Union's most frequently cited loan duration was 10 Year, with 5 originations. The 2nd most popular length was 30 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 11 $615,000 $55,909

    First Priority Federal Credit Union's average total fees were $1,751, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 11 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 4 $180,000 $45,000
    5-6% 4 $280,000 $70,000
    4-5% 3 $155,000 $51,667

    During 2019, First Priority Federal Credit Union's average interest rate for loans was 4.28%, while their most frequently originated rate bucket for loans was 3-4%, with 4 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 9 $395,000 $43,889 $1,461 4.45%
    $100k-200k 2 $220,000 $110,000 $1,914 5.51%

    2019 saw First Priority Federal Credit Union place emphasis on $100,000 or less loans with 9 originations, totaling $395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 4 $160,000 $40,000 $1,259 4.47%
    $50k or less 3 $235,000 $78,333 $1,704 4.47%
    $75k-100k 3 $115,000 $38,333 $1,665 4.66%
    $100k-150k 1 $105,000 $105,000 $1,831 5.84%

    First Priority Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 4 originations. The second most popular income band? $50k or less, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 5 $355,000 $71,000 $1,666 4.29%
    <20% 2 $50,000 $25,000 $1,067 4.74%
    30-36% 1 $25,000 $25,000 $1,253 4.49%
    36% 1 $115,000 $115,000 $1,997 5.18%
    37% 1 $35,000 $35,000 $1,754 5.99%
    39% 1 $35,000 $35,000 $1,510 4.49%

    First Priority Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 5 originations. The next most common DTI ratio? <20%, with 2 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 11 $615,000 $55,909 $1,543 4.65%

    Approval Rates

    Total approvals of all applications
    92.86%

    First Priority Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.82%

    First Priority Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 11 $615,000 $55,909

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 11 $615,000 $55,909

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $25,000 $25,000 $1,157 3.99%
    40-60% 3 $125,000 $41,667 $1,605 5.16%
    60-80% 3 $205,000 $68,333 $1,484 4.19%
    80-100% 4 $260,000 $65,000 $1,638 4.77%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    First Technology Federal Credit Union Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    First Technology Federal Credit Union Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    First Technology Federal Credit Union Conventional home mortgage Trouble during payment process 4 57.1%
    First Technology Federal Credit Union Home equity loan or line of credit (HELOC) Trouble during payment process 1 14.3%