Is First Heritage Federal CU a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by First Heritage Federal CU to those of other lenders for a comparable set of borrowers. Here is our review of First Heritage Federal CU nationally:
| Review Item | First Heritage Federal CU |
|---|---|
| Interest Rate | similar to other lenders (-0.10%) |
| Loan Related Closing Costs | similar to other lenders (-$207) |
| National Rate and Closing Cost Star Rating | (4) |
On average, First Heritage Federal CU’s interest rates were similar to those of other lenders (-0.10%). Its loan related closing costs were also similar to those of other lenders, with a difference of -$207. Overall, combining interest rates and closing costs we estimate that First Heritage Federal CU tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4 out of 5 stars.
We maintain our independence by not accepting any money from the mortgage lenders we review. To visit First Heritage Federal CU, check out its website at: https://www.fhfcu.org.
First Heritage Federal CU’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track First Heritage Federal CU was most active in:
First Heritage Federal CU’s Rate Review by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, First Heritage Federal CU originated Conforming mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.
| New Purchase Mortgages | Conforming |
|---|---|
| Interest Rate Difference | -0.12% |
| Loan Related Closing Cost Difference | -$169 |
| Cost Adjusted Rate Difference | -0.15% |
| National Star Rating |
| Refinance Mortgages | Conforming |
|---|---|
| Interest Rate Difference | -0.07% |
| Loan Related Closing Cost Difference | -$252 |
| Cost Adjusted Rate Difference | -0.11% |
| Average Star Rating |
As a summary, First Heritage Federal CU is cheap for Conforming purchase mortgages. For refinancing, First Heritage Federal CU is cheap for Conforming mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about First Heritage Federal CU:
Registered city and state: PAINTED POST, NY, 14870
Regulator: National Credit Union Administration (NCUA)
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for First Heritage Federal CU’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.