Aberdeen Proving Ground Federal Credit Union Mortgage Rates, Fees & Info

Edgewood, MD

LEI: 5493004XJV6Y8XQYPX87

Tax ID: 52-0637374

5 stars - out of 5 stars, based on 31 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

955

Origination Dollar Volume (All Markets)

$157,835,000

Awards

ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 30 Year Conventional Loans silver ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 30 Year Conventional Loans gold
Show all (2) awards

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 applications
88.99%

Aberdeen Proving Ground Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
84.81%

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%