Aberdeen Proving Ground Federal Credit Union Mortgage Rates, Fees & Info
Edgewood, MDLEI: 5493004XJV6Y8XQYPX87
Tax ID: 52-0637374
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Aberdeen Proving Ground Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Aberdeen Proving Ground Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Baltimore, Philadelphia, Salisbury, Dover, and Allentown among others. Aberdeen Proving Ground Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Aberdeen Proving Ground Federal Credit Union is typically an average fee lendor.Originations
955Origination Dollar Volume (All Markets)
$157,835,000Awards
ABERDEEN PROVING GROUND FEDERAL CREDIT UNION - 2021
ABERDEEN PROVING GROUND FEDERAL CREDIT UNION is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Aberdeen Proving Ground Federal Credit Union's average 30 year fixed rate mortgage of loans were
3.13%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.02%.
Relative Fees
Aberdeen Proving Ground Federal Credit Union's average total fees for a 30 year fixed rate
mortgage are $3,504.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 548 | $94,460,000 | $172,372 | $2,360 | 3.68% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 310 | $44,020,000 | $142,000 | $2,406 | 4.08% |
| Outside of Metro Areas | 80 | $17,760,000 | $222,000 | $3,508 | 3.39% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 5 | $515,000 | $103,000 | $4,452 | 4.87% |
| DOVER, DE (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $3,322 | 4.33% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 3.38% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $1,569 | 3.60% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,456 | 3.63% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,513 | 2.25% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $31 | 5.50% |
| LANCASTER, PA (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 5.87% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,933 | 2.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.24% |
Aberdeen Proving Ground Federal Credit Union's top markets include Baltimore, Philadelphia, Salisbury, Dover, and Allentown among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 931 | $151,645,000 | $162,884 | $2,396 | 3.82% |
| VA | 16 | $4,750,000 | $296,875 | $5,850 | 2.56% |
| USDA | 8 | $1,440,000 | $180,000 | $4,761 | 3.45% |
For the 2021 period, Aberdeen Proving Ground Federal Credit Union's most frequently originated loan type of loans were Conventional, with 931 originations. Their 2nd most popular type is VA, with 16 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 429 | $66,095,000 | $154,068 | $2,073 | 3.83% |
| Refi | 285 | $60,415,000 | $211,982 | $2,895 | 2.86% |
| Home Purchase | 218 | $29,960,000 | $137,431 | $3,355 | 4.83% |
| Home Improvement | 23 | $1,365,000 | $59,348 | $121 | 5.00% |
For the 2021, Aberdeen Proving Ground Federal Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 429 originations. The 2nd most popular reason of loans were Refi, with 285 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 317 | $75,845,000 | $239,259 | $3,504 | 3.13% |
| 15 Year | 290 | $45,520,000 | $156,966 | $2,307 | 3.45% |
| 20 Year | 226 | $26,300,000 | $116,372 | $1,711 | 4.99% |
| 10 Year | 81 | $7,685,000 | $94,877 | $979 | 3.98% |
| Other | 22 | $1,900,000 | $86,364 | $2,994 | 4.82% |
| 5 Year | 19 | $585,000 | $30,789 | $26 | 4.16% |
For the 2021, Aberdeen Proving Ground Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 317 originations. The 2nd most popular length of loans were 15 Year, with 290 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 562 | $88,440,000 | $157,367 |
| $1k-2k | 208 | $41,220,000 | $198,173 |
| $2k-3k | 51 | $14,585,000 | $285,980 |
| $3k-4k | 20 | $5,590,000 | $279,500 |
| $5k+ | 3 | $1,845,000 | $615,000 |
$3,504 of loans were Aberdeen Proving Ground Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 562 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 252 | $54,930,000 | $217,976 |
| 3-4% | 238 | $52,660,000 | $221,261 |
| <2.5% | 178 | $33,530,000 | $188,371 |
| 5-6% | 119 | $6,375,000 | $53,571 |
| 4-5% | 83 | $5,485,000 | $66,084 |
| 7-8% | 50 | $3,160,000 | $63,200 |
| 6-7% | 28 | $1,430,000 | $51,071 |
| Over 8% | 7 | $265,000 | $37,857 |
During 2021, Aberdeen Proving Ground Federal Credit Union's average interest rate of loans were 3.13%, while their most frequently originated rate bucket of loans were 2.5-3%, with 252 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 329 | $17,325,000 | $52,660 | $523 | 5.26% |
| $100k-200k | 302 | $45,310,000 | $150,033 | $2,655 | 3.13% |
| $200k-400k | 296 | $80,420,000 | $271,689 | $3,568 | 2.94% |
| $400k-600k | 22 | $10,430,000 | $474,091 | $4,119 | 2.96% |
| $600k-1MM | 6 | $4,350,000 | $725,000 | $8,604 | 3.06% |
2021 saw Aberdeen Proving Ground Federal Credit Union place emphasis on $100,000 or less loans with 329 originations, totaling $17,325,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 258 | $46,450,000 | $180,039 | $2,324 | 3.70% |
| $50k-75k | 196 | $26,640,000 | $135,918 | $2,545 | 3.76% |
| $75k-100k | 181 | $29,205,000 | $161,354 | $2,651 | 3.81% |
| $150k-250k | 166 | $35,250,000 | $212,349 | $2,390 | 3.68% |
| $50k or less | 132 | $14,180,000 | $107,424 | $2,504 | 4.18% |
| $250k+ | 20 | $6,020,000 | $301,000 | $3,054 | 3.50% |
Aberdeen Proving Ground Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 258 originations. The second most popular income band? $50k-75k, with 196 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 241 | $44,935,000 | $186,452 | $2,656 | 3.50% |
| 30-36% | 191 | $30,965,000 | $162,120 | $2,345 | 3.76% |
| <20% | 100 | $15,920,000 | $159,200 | $2,797 | 3.16% |
| 38% | 42 | $6,420,000 | $152,857 | $2,339 | 3.94% |
| 36% | 38 | $6,960,000 | $183,158 | $2,307 | 3.74% |
| 41% | 36 | $6,160,000 | $171,111 | $2,402 | 3.94% |
| 42% | 33 | $5,525,000 | $167,424 | $2,166 | 4.08% |
| 43% | 33 | $4,825,000 | $146,212 | $2,235 | 4.27% |
| 40% | 30 | $4,540,000 | $151,333 | $2,068 | 4.22% |
| 37% | 29 | $5,395,000 | $186,034 | $3,054 | 3.93% |
| 39% | 29 | $4,465,000 | $153,966 | $2,595 | 4.08% |
| 44% | 26 | $4,240,000 | $163,077 | $2,661 | 3.92% |
| 46% | 23 | $3,555,000 | $154,565 | $1,732 | 3.99% |
| 45% | 21 | $3,925,000 | $186,905 | $2,918 | 3.80% |
| 50-60% | 20 | $1,250,000 | $62,500 | $886 | 5.83% |
| >60% | 16 | $1,810,000 | $113,125 | $1,598 | 5.55% |
| 47% | 15 | $2,435,000 | $162,333 | $2,886 | 3.79% |
| 49% | 14 | $2,720,000 | $194,286 | $2,286 | 3.37% |
| 48% | 12 | $1,180,000 | $98,333 | $1,696 | 4.29% |
Aberdeen Proving Ground Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 241 originations. The next most common DTI ratio? 30-36%, with 191 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 726 | $114,910,000 | $158,278 | $2,359 | 3.85% |
| Not provided | 127 | $25,685,000 | $202,244 | $2,848 | 3.29% |
| Black | 72 | $11,980,000 | $166,389 | $2,993 | 4.25% |
| Asian | 23 | $4,115,000 | $178,913 | $2,490 | 3.50% |
| American Indian | 6 | $890,000 | $148,333 | $2,888 | 3.59% |
| Native Hawaiian | 1 | $255,000 | $255,000 | $0 | 2.50% |
Approval Rates
Total approvals of all applications88.99%
Aberdeen Proving Ground Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination84.81%
Aberdeen Proving Ground Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 104 | $4,840,000 | $46,538 |
| NA | 851 | $152,995,000 | $179,783 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 955 | $157,835,000 | $165,272 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 123 | $11,705,000 | $95,163 | $1,145 | 4.37% |
| 40-60% | 156 | $26,160,000 | $167,692 | $2,779 | 3.09% |
| 60-80% | 374 | $80,770,000 | $215,963 | $3,350 | 3.42% |
| 80-100% | 154 | $31,100,000 | $201,948 | $4,015 | 3.85% |
| Over 100% | 1 | $415,000 | $415,000 | $4,435 | 2.38% |
| Under 20% | 146 | $7,400,000 | $50,685 | $147 | 4.98% |
