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 Refi and Home Purchase 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. 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

    42

    Origination Dollar Volume (All Markets)

    $12,240,000

    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) 42 $12,240,000 $291,429 $2,990 4.67%
    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.

    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 218
    POINT BREEZE
    Similarity Rank: 270
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 444
    APL
    Similarity Rank: 605
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 612
    EDUCATIONAL SYSTEMS
    Similarity Rank: 714
    ACNB Bank
    Similarity Rank: 840
    PEOPLESBANK, A CODORUS VALLEY COMPANY
    Similarity Rank: 1833
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 2088
    MILLENNIUM FINANCIAL GROUP, INC.
    Similarity Rank: 2702

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 42 $12,240,000 $291,429 $2,990 4.67%

    For 2019, The Glen Burnie Mutual Savings Bank's most frequently originated type of loan was Conventional, with 42 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 20 $6,280,000 $314,000 $3,059 4.64%
    Home Purchase 18 $5,730,000 $318,333 $2,982 4.71%
    Other 3 $185,000 $61,667 $2,694 4.25%
    Home Improvement 1 $45,000 $45,000 $2,630 6.00%

    For 2019, The Glen Burnie Mutual Savings Bank's most frequently cited loan purpose was Refi, with 20 originations. The 2nd most popular reason was Home Purchase, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 40 $10,970,000 $274,250 $2,929 4.71%
    15 Year 1 $345,000 $345,000 $3,540 4.25%
    30+ year 1 $925,000 $925,000 $4,877 3.75%

    For 2019, The Glen Burnie Mutual Savings Bank's most frequently cited loan duration was 30 Year, with 40 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 41 $11,315,000 $275,976
    $1k-2k 1 $925,000 $925,000

    The Glen Burnie Mutual Savings Bank's average total fees were $2,929, 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
    4-5% 19 $4,425,000 $232,895
    3-4% 12 $5,570,000 $464,167
    5-6% 11 $2,245,000 $204,091

    During 2019, The Glen Burnie Mutual Savings Bank's average interest rate for loans was 4.71%, while their most frequently originated rate bucket for loans was 4-5%, with 19 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 13 $3,535,000 $271,923 $3,063 4.56%
    $100k-200k 12 $1,720,000 $143,333 $2,477 5.02%
    $400k-600k 7 $3,345,000 $477,857 $3,359 4.68%
    $100,000 or less 6 $360,000 $60,000 $2,612 4.83%
    $600k-1MM 4 $3,280,000 $820,000 $4,210 3.75%

    2019 saw The Glen Burnie Mutual Savings Bank place emphasis on $200k-400k loans with 13 originations, totaling $3,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 11 $1,795,000 $163,182 $2,809 4.57%
    $150k-250k 7 $2,625,000 $375,000 $3,258 4.11%
    $100k-150k 5 $2,095,000 $419,000 $3,212 4.45%
    $50k or less 5 $615,000 $123,000 $2,615 4.15%
    $250k+ 3 $2,625,000 $875,000 $4,384 3.75%
    $75k-100k 2 $400,000 $200,000 $2,770 4.50%

    The Glen Burnie Mutual Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $150k-250k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 15 $4,105,000 $273,667 $3,047 4.32%
    <20% 14 $4,800,000 $342,857 $3,114 4.23%
    30-36% 4 $1,250,000 $312,500 $3,058 4.56%

    The Glen Burnie Mutual Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? <20%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 27 $8,555,000 $316,852 $3,111 4.31%
    Not applicable 9 $2,085,000 $231,667 $2,671 6.00%
    Black 4 $1,020,000 $255,000 $2,769 4.38%
    Other Asian 1 $375,000 $375,000 $3,264 4.75%
    Vietnamese 1 $205,000 $205,000 $3,192 3.75%

    Approval Rates

    Total approvals of all applications
    95.45%

    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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 42 $12,240,000 $291,429

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 42 $12,240,000 $291,429

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $380,000 $95,000 $2,668 4.94%
    40-60% 6 $2,310,000 $385,000 $3,482 4.46%
    60-80% 28 $9,360,000 $334,286 $2,983 4.68%
    Under 20% 4 $190,000 $47,500 $2,620 4.69%