Cedar Point Federal Credit Union Mortgage Rates, Fees & Info
Lexington Park, MDLEI: 254900SEH2UUXVW21S97
Tax ID: 52-0621263
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Mortgage Data
Review & Overview
Cedar Point Federal Credit Union is a smaller credit union specializing in Refi loans. Cedar Point Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA 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 an above average pick rate when compared to similar lenders. They typically have about average rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.76% | 12/16/24 |
| 30 Year Conventional Refi | 9.37% | 12/16/24 |
| 30 Year Cash-out Refi | 8.10% | 12/16/24 |
| 30 Year VA Purchase | 10.61% | 12/16/24 |
| 30 Year USDA Purchase | 11.33% | 12/16/24 |
| 15 Year Conventional Purchase | 13.37% | 12/16/24 |
| 15 Year Conventional Refi | 7.79% | 12/16/24 |
| 15 Year Cash-out Refi | 7.79% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
88Origination Dollar Volume (All Markets)
$21,850,000Top 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) | 69 | $18,155,000 | $263,116 | $0 | 3.04% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 19 | $3,695,000 | $194,474 | $0 | 2.98% |
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.
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Product Mix
For 2020, Cedar Point Federal Credit Union's most frequently originated type of loan was Conventional, with 84 originations. Their 2nd most popular type was USDA, with 2 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 75 | $18,475,000 | $246,333 | $0 | 3.00% |
| Home Purchase | 13 | $3,375,000 | $259,615 | $0 | 3.17% |
For 2020, Cedar Point Federal Credit Union's most frequently cited loan purpose was Refi, with 75 originations. The 2nd most popular reason was Home Purchase, with 13 originations.
Loan Duration/Length
For 2020, Cedar Point Federal Credit Union's most frequently cited loan duration was 30 Year, with 54 originations. The 2nd most popular length was 15 Year, with 21 originations.
Origination Fees/Closing Costs
Cedar Point Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 27 originations.
Interest Rates
During 2020, Cedar Point Federal Credit Union's average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 2.5-3%, with 49 originations.
Loan Sizing
2020 saw Cedar Point Federal Credit Union place emphasis on $200k-400k loans with 43 originations, totaling $12,055,000 in origination value.
Applicant Income
Cedar Point Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $150k-250k, with 23 originations.
Applicant Debt to Income Ratio
Cedar Point Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 31 originations. The next most common DTI ratio? 30-36%, with 22 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 origination93.18%
Cedar Point Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 10018.0 | 1 | $895,000 | $895,000 |
| 1172.0 | 1 | $75,000 | $75,000 |
| 1251.0 | 1 | $155,000 | $155,000 |
| 1256.5 | 1 | $75,000 | $75,000 |
| 1293.0 | 1 | $85,000 | $85,000 |
| 1421.0 | 1 | $95,000 | $95,000 |
| 1468.0 | 1 | $105,000 | $105,000 |
| 1604.0 | 1 | $115,000 | $115,000 |
| 1708.0 | 1 | $125,000 | $125,000 |
| 1784.0 | 1 | $165,000 | $165,000 |
| 1788.0 | 1 | $135,000 | $135,000 |
| 1818.0 | 2 | $260,000 | $130,000 |
| 1868.0 | 2 | $290,000 | $145,000 |
| 1915.0 | 1 | $135,000 | $135,000 |
| 1918.0 | 2 | $290,000 | $145,000 |
| 1968.0 | 1 | $155,000 | $155,000 |
| 2068.0 | 1 | $165,000 | $165,000 |
| 2119.0 | 1 | $165,000 | $165,000 |
| 2165.5 | 1 | $165,000 | $165,000 |
| 2258.0 | 1 | $175,000 | $175,000 |
| 2288.0 | 1 | $185,000 | $185,000 |
| 2303.0 | 1 | $185,000 | $185,000 |
| 2314.0 | 1 | $185,000 | $185,000 |
| 2318.0 | 1 | $185,000 | $185,000 |
| 2356.0 | 1 | $185,000 | $185,000 |
| 2406.0 | 1 | $195,000 | $195,000 |
| 2458.0 | 1 | $195,000 | $195,000 |
| 2504.0 | 1 | $205,000 | $205,000 |
| 2538.0 | 1 | $205,000 | $205,000 |
| 2568.0 | 1 | $215,000 | $215,000 |
| 2585.0 | 1 | $215,000 | $215,000 |
| 2586.12 | 1 | $215,000 | $215,000 |
| 2591.0 | 1 | $215,000 | $215,000 |
| 2598.0 | 1 | $215,000 | $215,000 |
| 2679.5 | 1 | $225,000 | $225,000 |
| 2718.0 | 1 | $225,000 | $225,000 |
| 2753.0 | 1 | $225,000 | $225,000 |
| 2760.0 | 1 | $225,000 | $225,000 |
| 2786.3 | 1 | $235,000 | $235,000 |
| 2828.0 | 1 | $235,000 | $235,000 |
| 2918.0 | 2 | $490,000 | $245,000 |
| 2938.0 | 1 | $245,000 | $245,000 |
| 2986.0 | 1 | $245,000 | $245,000 |
| 3112.0 | 1 | $255,000 | $255,000 |
| 3146.65 | 1 | $265,000 | $265,000 |
| 3165.0 | 1 | $275,000 | $275,000 |
| 3174.0 | 1 | $265,000 | $265,000 |
| 3223.0 | 1 | $275,000 | $275,000 |
| 3268.0 | 1 | $285,000 | $285,000 |
| 3368.0 | 1 | $295,000 | $295,000 |
| 3399.0 | 1 | $295,000 | $295,000 |
| 3418.0 | 1 | $295,000 | $295,000 |
| 3428.0 | 1 | $295,000 | $295,000 |
| 3588.0 | 1 | $315,000 | $315,000 |
| 3658.0 | 1 | $315,000 | $315,000 |
| 3718.0 | 1 | $325,000 | $325,000 |
| 3783.0 | 1 | $335,000 | $335,000 |
| 3798.0 | 1 | $335,000 | $335,000 |
| 3834.0 | 1 | $335,000 | $335,000 |
| 3899.0 | 1 | $345,000 | $345,000 |
| 3908.0 | 1 | $345,000 | $345,000 |
| 3940.0 | 1 | $345,000 | $345,000 |
| 3954.0 | 1 | $345,000 | $345,000 |
| 3968.0 | 2 | $710,000 | $355,000 |
| 4098.0 | 2 | $730,000 | $365,000 |
| 4158.0 | 1 | $385,000 | $385,000 |
| 423.0 | 1 | $35,000 | $35,000 |
| 4468.0 | 1 | $405,000 | $405,000 |
| 448.0 | 1 | $175,000 | $175,000 |
| 4748.0 | 1 | $425,000 | $425,000 |
| 4918.0 | 1 | $445,000 | $445,000 |
| 4994.0 | 1 | $445,000 | $445,000 |
| 5178.94 | 1 | $255,000 | $255,000 |
| 5294.0 | 1 | $485,000 | $485,000 |
| 5534.0 | 1 | $505,000 | $505,000 |
| 554.0 | 1 | $105,000 | $105,000 |
| 5679.5 | 1 | $505,000 | $505,000 |
| 5978.0 | 1 | $555,000 | $555,000 |
| 844.0 | 1 | $415,000 | $415,000 |
| 898.0 | 1 | $45,000 | $45,000 |
| 968.0 | 2 | $110,000 | $55,000 |