Cedar Point Federal Credit Union Mortgage Rates, Fees & Info

Lexington Park, MD

LEI: 254900SEH2UUXVW21S97

Tax ID: 52-0621263

5 stars - Updated: 4/5/25 - out of 5 stars, based on 11 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Cedar Point Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Cedar Point Federal Credit Union has a high proportion of conventional loans. Their top two markets are California and Washington .

    Cedar Point 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. Cedar Point 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.12% 4/5/25
    30 Year Conventional Refi 10.37% 4/5/25
    30 Year Cash-out Refi 7.32% 4/5/25
    15 Year Conventional Purchase 6.88% 4/5/25
    15 Year Conventional Refi 9.26% 4/5/25
    15 Year Cash-out Refi 9.26% 4/5/25
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Cedar Point Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Cedar Point Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    132

    Origination Dollar Volume (All Markets)

    $18,590,000

    Awards

    Cedar Point Federal Credit Union 30 Year Conventional Loans gold
    Show all (1) awards

    Relative Rate

    Cedar Point Federal Credit Union's average 30 year fixed mortgage rate was 6.75%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.2%.

    Relative Fees (Closing Costs)

    Cedar Point Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,582.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 99 $16,315,000 $164,798 $3,967 8.58%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 33 $2,275,000 $68,939 $2,084 9.58%
    Cedar Point Federal Credit Union's top markets include California and Washington among others.

    Their top states include:
  • Maryland (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Cedar Point Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Cedar Point Federal Credit Union
    Similarity Rank: 22
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 168
    Signal Financial Federal Credit Union
    Similarity Rank: 605
    IDB Global Federal Credit Union
    Similarity Rank: 816
    EDUCATIONAL SYSTEMS
    Similarity Rank: 960
    FEDERATED MORTGAGE CORP.
    Similarity Rank: 1221
    NATIONAL COOPERATIVE BANK, N.A.
    Similarity Rank: 1518
    NATIONAL INSTITUTES OF HEALTH FEDERAL CREDIT UNION
    Similarity Rank: 1880
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 1968
    Apple Federal Credit Union
    Similarity Rank: 1975

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 66 $5,570,000 $84,394 n/a 9.58%
    Conventional 66 $13,020,000 $197,273 $3,539 8.09%

    For 2024, Cedar Point Federal Credit Union's most frequently originated type of loan was HELOC, with 66 originations. Their 2nd most popular type was Conventional, with 66 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 107 $12,265,000 $114,626 $3,062 9.03%
    Other 9 $1,075,000 $119,444 $3,051 8.78%
    Refi 9 $2,745,000 $305,000 $3,254 8.14%
    Home Purchase 7 $2,505,000 $357,857 $7,380 6.77%

    For 2024, Cedar Point Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 107 originations. The 2nd most popular reason was Other, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 72 $6,920,000 $96,111 $4,666 9.39%
    15 Year 34 $2,660,000 $78,235 $2,122 9.11%
    30 Year 18 $6,210,000 $345,000 $4,582 6.75%
    1 Year 5 $2,425,000 $485,000 $8,046 7.25%
    10 Year 3 $375,000 $125,000 $3,585 7.50%

    For 2024, Cedar Point Federal Credit Union's most frequently cited loan duration was 20 Year, with 72 originations. The 2nd most popular length was 15 Year, with 34 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 41 $5,485,000 $133,780
    $2k-3k 10 $2,190,000 $219,000
    $1k-2k 8 $1,180,000 $147,500
    $5k+ 5 $3,305,000 $661,000
    $3k-4k 1 $405,000 $405,000
    $4k-5k 1 $455,000 $455,000

    Cedar Point Federal Credit Union's average total fees were $4,582, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 41 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 98 $8,290,000 $84,592
    6-7% 19 $3,945,000 $207,632
    7-8% 13 $6,225,000 $478,846
    5-6% 2 $130,000 $65,000

    During 2024, Cedar Point Federal Credit Union's average interest rate for loans was 6.75%, while their most frequently originated rate bucket for loans was Over 8%, with 98 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 76 $4,500,000 $59,211 $2,003 9.45%
    $100k-200k 29 $3,635,000 $125,345 $3,210 8.49%
    $200k-400k 17 $4,545,000 $267,353 $3,940 7.70%
    $400k-600k 5 $2,355,000 $471,000 $5,959 7.08%
    $600k-1MM 5 $3,555,000 $711,000 $9,428 7.10%

    2024 saw Cedar Point Federal Credit Union place emphasis on $100,000 or less loans with 76 originations, totaling $4,500,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 45 $6,275,000 $139,444 $3,571 8.73%
    $150k-250k 36 $4,790,000 $133,056 $2,565 9.17%
    $250k+ 18 $4,360,000 $242,222 $7,457 8.90%
    $75k-100k 14 $1,290,000 $92,143 $2,813 8.52%
    $50k-75k 12 $1,140,000 $95,000 $3,144 8.32%
    $50k or less 4 $220,000 $55,000 $0 9.69%

    Cedar Point Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 45 originations. The second most popular income band? $150k-250k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 28 $3,450,000 $123,214 $3,730 8.79%
    20-30% 26 $3,980,000 $153,077 $3,938 8.90%
    <20% 18 $1,740,000 $96,667 $2,709 8.47%
    41% 8 $610,000 $76,250 $1,992 9.81%
    42% 6 $1,980,000 $330,000 $7,525 8.04%
    40% 6 $590,000 $98,333 $2,824 9.17%
    48% 6 $1,040,000 $173,333 $1,990 9.33%
    44% 5 $945,000 $189,000 $4,701 8.90%
    47% 4 $340,000 $85,000 $1,369 9.28%
    46% 4 $310,000 $77,500 $2,144 9.47%
    50-60% 4 $280,000 $70,000 $1,977 9.34%
    39% 3 $1,025,000 $341,667 $3,268 6.54%
    36% 3 $855,000 $285,000 $4,421 7.63%
    43% 3 $205,000 $68,333 $1,628 9.46%
    37% 2 $100,000 $50,000 $1,814 9.75%
    45% 1 $35,000 $35,000 $0 9.75%
    >60% 1 $625,000 $625,000 $9,704 7.25%
    38% 1 $65,000 $65,000 $0 9.25%

    Cedar Point Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 28 originations. The next most common DTI ratio? 20-30%, with 26 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 104 $15,370,000 $147,788 $3,572 8.79%
    Not provided 14 $2,120,000 $151,429 $4,375 8.38%
    Black 11 $785,000 $71,364 $2,152 9.73%
    Other Asian 1 $205,000 $205,000 $0 9.25%
    Asian 1 $75,000 $75,000 $0 9.50%
    American Indian 1 $35,000 $35,000 $2,674 8.50%

    Approval Rates

    Total approvals of all applications
    95.73%

    Cedar Point 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
    87.88%

    Cedar Point Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 132 $18,590,000 $140,833

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    132 $18,590,000 $140,833

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 29 $3,315,000 $114,310 $2,464 9.14%
    40-60% 12 $4,050,000 $337,500 $4,689 7.01%
    60-80% 13 $4,135,000 $318,077 $5,054 7.19%
    80-100% 5 $2,085,000 $417,000 $7,992 7.40%
    Under 20% 72 $4,770,000 $66,250 $1,968 9.44%