Shore United Bank Mortgage Rates, Fees & Info

Easton, MD

LEI: 54930009M8OIJWECQX81

Tax ID: 52-0267925

5 stars - Updated: 7/12/24 - out of 5 stars, based on 35 reviews

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

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Mortgage Data

Review & Overview

Shore United Bank is a smaller bank specializing in Home Purchase loans. Shore United Bank has a high proportion of conventional loans. Shore United Bank has an average proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Baltimore, Washington, Salisbury, California, and Easton among others. We have data for 32 markets. (Some data included below & more in-depth data is available with an active subscription.)

Shore United Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Shore United Bank is typically an average 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 relatively high 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.69% 7/12/24
30 Year Conventional Refi 6.38% 7/12/24
30 Year Cash-out Refi 6.88% 7/12/24
30 Year FHA Purchase 7.30% 7/12/24
30 Year FHA Refi 6.66% 7/12/24
30 Year VA Purchase 6.47% 7/12/24
30 Year VA Refi 6.77% 7/12/24
30 Year USDA Purchase 6.68% 7/12/24
30 Year USDA Refi 6.27% 7/12/24
15 Year Conventional Purchase 6.41% 7/12/24
15 Year Conventional Refi 5.58% 7/12/24
15 Year Cash-out Refi 5.58% 7/12/24
15 Year VA Purchase 6.29% 7/12/24
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.

Shore United Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Shore United Bank. 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

1,204

Origination Dollar Volume (All Markets)

$463,260,000
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Relative Rate

Shore United Bank's average 30 year fixed mortgage rate was 6.41%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.07%.

Relative Fees (Closing Costs)

Shore United Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $8,197.

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 $9,089.

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) 329 $129,275,000 $392,933 $8,330 6.33%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 242 $118,780,000 $490,826 $9,781 6.47%
SALISBURY, MD-DE (FHA|USDA|VA) 250 $116,000,000 $464,000 $7,147 6.33%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 32 $19,740,000 $616,875 $10,487 6.58%
Easton, MD (FHA|USDA|VA) 94 $19,680,000 $209,362 $7,612 6.58%
Outside of Metro Areas 75 $13,545,000 $180,600 $5,831 6.78%
DOVER, DE (FHA|USDA|VA) 73 $11,545,000 $158,151 $4,168 6.63%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 38 $10,130,000 $266,579 $9,223 6.72%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 18 $7,310,000 $406,111 $5,040 6.49%
Cambridge, MD (FHA|USDA|VA) 17 $2,965,000 $174,412 $3,585 6.56%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $2,425,000 $808,333 $13,454 6.88%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 4 $2,260,000 $565,000 $0 6.95%
YORK-HANOVER, PA (FHA|USDA|VA) 6 $1,580,000 $263,333 $10,387 6.34%
Key West, FL (FHA|USDA|VA) 1 $1,155,000 $1,155,000 $17,342 6.15%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $9,115 7.15%
GETTYSBURG, PA (FHA|USDA|VA) 3 $825,000 $275,000 $10,230 6.88%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 3 $825,000 $275,000 $9,563 6.54%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $465,000 $465,000 $23,163 5.75%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $405,000 $405,000 $22,701 5.63%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $385,000 $385,000 $5,952 7.00%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $365,000 $365,000 $5,570 7.50%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $335,000 $335,000 $4,146 6.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $325,000 $325,000 $7,119 6.88%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $275,000 $275,000 $10,968 6.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $255,000 $255,000 $10,021 6.25%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $245,000 $245,000 $4,157 6.13%
LYNCHBURG, VA (FHA|USDA|VA) 1 $235,000 $235,000 $0 6.00%
COLUMBIA, SC (FHA|USDA|VA) 1 $205,000 $205,000 $5,577 6.50%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $205,000 $205,000 $7,624 6.25%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $205,000 $205,000 $8,817 6.88%
PITTSBURGH, PA (FHA|USDA|VA) 1 $195,000 $195,000 $5,593 6.38%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $115,000 $115,000 $3,780 6.50%
Shore United Bank's top markets include Baltimore, Washington, Salisbury, California, and Easton among others.

Their top states include:
  • Maryland (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Similar Lenders

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

    DEL-ONE FEDERAL CREDIT UNION
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    PATRIOT
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 764 $383,510,000 $501,976 $7,617 6.45%
    Conventional 334 $44,350,000 $132,784 $0 0.00%
    FHA 73 $23,575,000 $322,945 $13,700 6.40%
    VA 25 $9,675,000 $387,000 $13,479 6.28%
    USDA 8 $2,150,000 $268,750 $10,225 6.05%

    For 2023, Shore United Bank's most frequently originated type of loan was Conventional, with 764 originations. Their 2nd most popular type was Conventional, with 334 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 778 $381,640,000 $490,540 $8,656 6.43%
    Home Improvement 246 $33,530,000 $136,301 $3,070 6.66%
    Refi 99 $33,015,000 $333,485 $6,686 6.11%
    Other 67 $11,135,000 $166,194 $4,798 7.09%
    Cash Out Refi 14 $3,940,000 $281,429 $8,087 6.78%

    For 2023, Shore United Bank's most frequently cited loan purpose was Home Purchase, with 778 originations. The 2nd most popular reason was Home Improvement, with 246 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 659 $287,065,000 $435,607 $8,197 6.41%
    Other 347 $51,885,000 $149,524 $0 7.14%
    30+ year 115 $102,885,000 $894,652 $10,931 6.49%
    5 Year 37 $14,735,000 $398,243 $0 6.44%
    15 Year 33 $4,095,000 $124,091 $2,440 6.63%
    20 Year 8 $2,060,000 $257,500 $3,541 6.08%
    10 Year 4 $310,000 $77,500 $2,148 7.10%
    3 Year 1 $225,000 $225,000 $0 5.75%

    For 2023, Shore United Bank's most frequently cited loan duration was 30 Year, with 659 originations. The 2nd most popular length was Other, with 347 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 228 $101,270,000 $444,167
    $5k+ 218 $149,790,000 $687,110
    $2k-3k 129 $50,625,000 $392,442
    $3k-4k 115 $47,655,000 $414,391
    $4k-5k 88 $39,700,000 $451,136
    $<1k 39 $7,225,000 $185,256

    Shore United Bank's average total fees were $8,197, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 228 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 367 $168,895,000 $460,204
    5-6% 302 $149,180,000 $493,974
    7-8% 175 $89,765,000 $512,943
    Over 8% 19 $7,705,000 $405,526
    4-5% 7 $3,365,000 $480,714

    During 2023, Shore United Bank's average interest rate for loans was 6.41%, while their most frequently originated rate bucket for loans was 6-7%, with 367 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 390 $115,270,000 $295,564 $7,393 6.43%
    $100,000 or less 222 $11,970,000 $53,919 $2,089 6.75%
    $400k-600k 219 $105,755,000 $482,900 $9,029 6.38%
    $100k-200k 172 $24,630,000 $143,198 $5,242 6.68%
    $600k-1MM 132 $97,900,000 $741,667 $9,887 6.29%
    $1MM+ 69 $107,735,000 $1,561,377 $13,510 6.45%

    2023 saw Shore United Bank place emphasis on $200k-400k loans with 390 originations, totaling $115,270,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 300 $110,030,000 $366,767 $7,950 6.39%
    $250k+ 297 $207,905,000 $700,017 $9,723 6.50%
    $100k-150k 235 $65,425,000 $278,404 $7,998 6.38%
    $75k-100k 131 $26,325,000 $200,954 $7,534 6.45%
    $50k-75k 129 $23,575,000 $182,752 $7,269 6.38%
    $50k or less 44 $4,290,000 $97,500 $5,305 6.12%

    Shore United Bank lent most frequently to those with incomes in the $150k-250k range, with 300 originations. The second most popular income band? $250k+, with 297 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 334 $44,350,000 $132,784 $0 0.00%
    20-30% 164 $73,460,000 $447,927 $6,845 6.38%
    30-36% 130 $57,180,000 $439,846 $7,364 6.35%
    41% 62 $33,950,000 $547,581 $8,253 6.42%
    <20% 57 $28,865,000 $506,404 $7,015 6.22%
    38% 44 $25,760,000 $585,455 $7,470 6.57%
    40% 42 $21,370,000 $508,810 $7,790 6.45%
    39% 41 $23,465,000 $572,317 $9,082 6.16%
    37% 39 $20,275,000 $519,872 $8,709 6.45%
    42% 39 $21,185,000 $543,205 $9,346 6.25%
    36% 34 $27,910,000 $820,882 $10,632 6.46%
    43% 32 $11,350,000 $354,688 $7,921 6.48%
    49% 29 $11,285,000 $389,138 $10,149 6.82%
    50-60% 26 $12,460,000 $479,231 $15,301 6.36%
    45% 20 $6,310,000 $315,500 $8,178 6.60%
    44% 17 $6,495,000 $382,059 $8,277 6.38%
    48% 15 $6,185,000 $412,333 $9,915 6.93%
    46% 12 $4,700,000 $391,667 $13,915 6.33%
    47% 11 $3,065,000 $278,636 $8,918 6.65%

    Shore United Bank lent most frequently to those with DTI ratios of Exempt%, with 334 originations. The next most common DTI ratio? 20-30%, with 164 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 869 $316,685,000 $364,425 $7,958 6.43%
    Not provided 197 $81,995,000 $416,218 $8,712 6.47%
    Black 57 $25,545,000 $448,158 $10,773 6.51%
    Not applicable 41 $19,915,000 $485,732 $0 6.61%
    Asian 19 $8,995,000 $473,421 $9,226 5.98%
    Asian Indian 11 $5,605,000 $509,545 $6,889 6.15%
    Native Hawaiian or Islander 1 $945,000 $945,000 $12,880 5.25%
    Filipino 2 $910,000 $455,000 $6,860 6.38%
    American Indian 3 $785,000 $261,667 $8,627 6.44%
    Vietnamese 1 $725,000 $725,000 $15,237 7.50%
    Other Asian 2 $700,000 $350,000 $10,289 6.44%
    Chinese 1 $455,000 $455,000 $6,021 6.50%

    Approval Rates

    Total approvals of all applications
    88.35%

    Shore United Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.06%

    Shore United Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 334 $44,350,000 $132,784
    NA 870 $418,910,000 $481,506

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,204 $463,260,000 $384,767

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 47 $11,505,000 $244,787 $4,681 6.15%
    40-60% 99 $40,545,000 $409,545 $6,549 6.40%
    60-80% 245 $136,615,000 $557,612 $8,310 6.55%
    80-100% 444 $224,550,000 $505,743 $9,316 6.40%
    Over 100% 6 $2,090,000 $348,333 $15,642 6.42%
    Under 20% 28 $3,480,000 $124,286 $1,862 6.70%