1st Ed Credit Union Mortgage Lending & HMDA Data, 2020
In 2020, 1st Ed Credit Union of Chambersburg, PA reported 56 mortgage applications totaling $7.5 million, up 24% from 2019. The average application was for $134,285, and applicants reported an average income of $87,321. 82% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Chambersburg-Waynesboro, PA (37), Gettysburg, PA (7) and Harrisburg-Carlisle, PA (5) (applications in parentheses).
| Mortgage Company & Address | 1st Ed Credit Union 1156 Kennebec Drive Chambersburg, PA 17201 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2020 2019 2018 2017 2016 |
| Total Number of Mortgage Applications | 56 |
| Total Mortgage Loan Application Amount | $7,520,000 |
| Average Mortgage Loan Application Amount | $134,285 |
| Highest Mortgage Loan Application Amount | $315,000 |
| Average Applicant Income | $87,321 |
| Highest Applicant Income | $201,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records 1st Ed Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Chambersburg-Waynesboro, PA | 37 | $ 4,995,000 | $ 135,000 | $ 86,000 |
| Gettysburg, PA | 7 | $ 955,000 | $ 136,428 | $ 99,000 |
| Harrisburg-Carlisle, PA | 5 | $ 675,000 | $ 135,000 | $ 80,000 |
| Outside any metro area | 4 | $ 440,000 | $ 110,000 | $ 90,000 |
| York-Hanover, PA | 3 | $ 455,000 | $ 151,666 | $ 94,000 |
Mortgage Loan Application Detail Totals for 1st Ed Credit Union in 2020
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing | 37 | $5,335,000 | $144,000 | $315,000 | $94,000 | $201,000 |
| Home Improvement | 6 | $250,000 | $41,000 | $115,000 | $82,000 | $140,000 |
| Home Purchase | 6 | $980,000 | $163,000 | $215,000 | $68,000 | $113,000 |
| Cash-out Refinancing | 5 | $715,000 | $143,000 | $235,000 | $58,000 | $112,000 |
| Other Purpose | 2 | $240,000 | $120,000 | $155,000 | $111,000 | $138,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 51 | $7,015,000 | $137,000 | $315,000 | $88,000 | $201,000 |
| Not Provided | 3 | $385,000 | $128,000 | $205,000 | $128,000 | $178,000 |
| Hispanic | 2 | $120,000 | $60,000 | $85,000 | $37,000 | $45,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 56 | $7,520,000 | $134,000 | $315,000 | $88,000 | $201,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 46 | $6,290,000 | $136,000 | $315,000 | $89,000 | $201,000 |
| Application Denied By Financial Institution | 5 | $615,000 | $123,000 | $205,000 | $88,000 | $178,000 |
| Application Withdrawn By Applicant | 5 | $615,000 | $123,000 | $175,000 | $80,000 | $113,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 51 | $6,905,000 | $135,000 | $315,000 | $88,000 | $201,000 |
| Debt-To-Income Ratio | 3 | $315,000 | $105,000 | $155,000 | $81,000 | $138,000 |
| Collateral | 1 | $95,000 | $95,000 | $95,000 | $21,000 | $21,000 |
| Credit Application Incomplete | 1 | $205,000 | $205,000 | $205,000 | $178,000 | $178,000 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into 1st Ed Credit Union's 2020 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess 1st Ed Credit Union's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Pennsylvania, download the full spreadsheet
with aggregated HMDA statistics today.
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