The Glen Burnie Mutual Savings Bank Mortgage Rates, Fees & Info

Glen Burnie, MD

LEI: 254900U6H520K7TCA169

Tax ID: 52-0328134

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

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Mortgage Data

  • Originations
  • 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

    The Glen Burnie Mutual Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. The Glen Burnie Mutual Savings Bank has a high proportion of conventional loans. Their top (well, only) market is Baltimore.

    The Glen Burnie Mutual Savings Bank 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. The Glen Burnie Mutual Savings Bank 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.

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    Originations

    53

    Origination Dollar Volume (All Markets)

    $15,425,000

    Awards

    The Glen Burnie Mutual Savings Bank 30 Year Conventional Loans gold
    Show all (1) awards

    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
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 53 $15,425,000 $291,038 $2,724 4.58%
    The Glen Burnie Mutual Savings Bank's top markets include and Baltimore among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against The Glen Burnie Mutual Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    APL
    Similarity Rank: 32
    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 54
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 126
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 126
    POINT BREEZE
    Similarity Rank: 252
    EDUCATIONAL SYSTEMS
    Similarity Rank: 495
    Poli Mortgage Group, Inc.
    Similarity Rank: 504
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    ACNB Bank
    Similarity Rank: 684
    STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED
    Similarity Rank: 1748

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 53 $15,425,000 $291,038 $2,724 4.58%

    For 2018, The Glen Burnie Mutual Savings Bank's most frequently originated type of loan was Conventional, with 53 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 24 $8,360,000 $348,333 $2,980 4.51%
    Refi 19 $5,635,000 $296,579 $2,549 4.58%
    Home Improvement 6 $820,000 $136,667 $2,387 4.67%
    Other 4 $610,000 $152,500 $2,315 4.88%

    For 2018, The Glen Burnie Mutual Savings Bank's most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 52 $15,330,000 $294,808 $2,736 4.59%
    15 Year 1 $95,000 $95,000 $2,137 4.25%

    For 2018, The Glen Burnie Mutual Savings Bank's most frequently cited loan duration was 30 Year, with 52 originations. The 2nd most popular length was 15 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 49 $14,445,000 $294,796
    $1k-2k 2 $640,000 $320,000

    The Glen Burnie Mutual Savings Bank's average total fees were $2,736, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 49 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 39 $13,005,000 $333,462
    5-6% 14 $2,420,000 $172,857

    During 2018, The Glen Burnie Mutual Savings Bank's average interest rate for loans was 4.59%, while their most frequently originated rate bucket for loans was 4-5%, with 39 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 22 $6,410,000 $291,364 $2,791 4.48%
    $100k-200k 17 $2,585,000 $152,059 $2,301 4.91%
    $400k-600k 7 $3,405,000 $486,429 $3,228 4.25%
    $600k-1MM 4 $2,790,000 $697,500 $3,615 4.25%
    $100,000 or less 3 $235,000 $78,333 $1,977 4.67%

    2018 saw The Glen Burnie Mutual Savings Bank place emphasis on $200k-400k loans with 22 originations, totaling $6,410,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 11 $2,785,000 $253,182 $2,728 4.25%
    $150k-250k 9 $3,525,000 $391,667 $2,928 4.53%
    $100k-150k 5 $1,685,000 $337,000 $2,496 4.25%
    $250k+ 5 $2,465,000 $493,000 $3,164 4.25%
    $50k-75k 5 $1,145,000 $229,000 $3,000 4.25%
    $50k or less 4 $630,000 $157,500 $2,410 4.56%

    The Glen Burnie Mutual Savings Bank lent most frequently to those with incomes in the $75k-100k range, with 11 originations. The second most popular income band? $150k-250k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 16 $4,870,000 $304,375 $2,753 4.25%
    20-30% 15 $5,065,000 $337,667 $2,804 4.42%
    30-36% 5 $1,585,000 $317,000 $2,972 4.50%
    36% 1 $205,000 $205,000 $2,641 4.25%
    41% 1 $245,000 $245,000 $2,309 4.25%
    49% 1 $265,000 $265,000 $3,384 4.25%

    The Glen Burnie Mutual Savings Bank lent most frequently to those with DTI ratios of <20%, with 16 originations. The next most common DTI ratio? 20-30%, with 15 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 32 $10,600,000 $331,250 $2,823 4.37%
    Not applicable 14 $3,190,000 $227,857 $2,467 5.23%
    Black 4 $870,000 $217,500 $2,833 4.25%
    Not provided 1 $315,000 $315,000 $2,685 4.25%
    Korean 1 $245,000 $245,000 $2,309 4.25%
    Vietnamese 1 $205,000 $205,000 $2,641 4.25%

    Approval Rates

    Total approvals of all applications
    98.21%

    The Glen Burnie Mutual Savings Bank 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
    96.23%

    The Glen Burnie Mutual Savings Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 53 $15,425,000 $291,038

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 53 $15,425,000 $291,038

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $1,320,000 $165,000 $2,378 4.72%
    40-60% 6 $1,280,000 $213,333 $2,412 4.67%
    60-80% 37 $12,615,000 $340,946 $2,892 4.55%
    Under 20% 2 $210,000 $105,000 $2,102 4.25%