Patriot FCU Mortgage Interest Rate and Cost Review

Is Patriot FCU a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Patriot FCU to those of other lenders for a comparable set of borrowers. We maintain our independence by not accepting any money from the mortgage lenders we review. Going by historical data, here is our review of Patriot FCU nationally:

Review ItemPatriot FCU
Interest Ratelower than other lenders (-0.12%)
Loan Related Closing Costslower than other lenders (-$450)
National Rate and Closing Cost Star Rating(4.5)

On average, Patriot FCU’s interest rates were lower than those of other lenders (-0.12%) for a comparable set of borrowers. Its loan related closing costs were also lower than those of other lenders, with a difference of -$450. Overall, combining interest rates and closing costs we estimate that Patriot FCU tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.5 out of 5 stars. To visit Patriot FCU, its website is located at: https://www.patriotfcu.org.

Patriot FCU’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. In particular, among the cities we track Patriot FCU was most active in:

  1. Frederick, MD
  2. Lancaster, PA
  3. Pittsburgh, PA
  4. Pleasant Gap, PA
  5. Richmond, VA

In addition, Patriot FCU is our top ranked/best mortgage lender in terms of interest rate and closing costs in:

You can click through to check out Patriot FCU’s mortgage rate relative to those of other lenders within each city. Or, for our entire list of the top mortgage lenders by city, click here.

Patriot FCU’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, Patriot FCU originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHAUSDAVA
Interest Rate Difference-0.14%-0.28%-0.29%-0.08%
Loan Related Closing Cost Difference-$336-$207-$188-$85
Cost Adjusted Rate Difference-0.18%-0.30%-0.30%-0.09%
National Star Rating(4.5)(5)(5)(4)
Refinance MortgagesConformingFHAVA
Interest Rate Difference-0.07%-0.01%-0.08%
Loan Related Closing Cost Difference-$634-$3-$274
Cost Adjusted Rate Difference-0.19%-0.01%-0.11%
Average Star Rating(4.5)(3.5)(4)

As a summary, Patriot FCU is cheap for Conforming, FHA, USDA and VA purchase mortgages. For refinancing mortgages, Patriot FCU is cheap for Conforming and VA mortgage refinance. It is similar to other lenders for FHA 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 Patriot FCU:

Registered name: Patriot FCU
Registered city and state: Chambersburg, PA, 17201
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 Patriot FCU’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.