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

Edgewood, MD

LEI: 5493004XJV6Y8XQYPX87

Tax ID: 52-0637374

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Aberdeen Proving Ground Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase 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 by origination volume include: Baltimore, Philadelphia, Washington, Dover, and Salisbury among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Aberdeen Proving Ground Federal Credit Union 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. Aberdeen Proving Ground Federal Credit Union 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.41% 4/18/24
    30 Year Conventional Purchase 6.43% 4/18/24
    30 Year Conventional Refi 6.43% 4/18/24
    30 Year Cash-out Refi 6.43% 4/18/24
    30 Year VA Purchase 5.83% 4/18/24
    30 Year VA Refi 5.69% 4/18/24
    30 Year USDA Purchase 6.32% 4/18/24
    15 Year Conventional Purchase 7.12% 4/18/24
    15 Year Conventional Refi 6.09% 4/18/24
    15 Year Cash-out Refi 6.09% 4/18/24
    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.

    Aberdeen Proving Ground Federal Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Aberdeen Proving Ground Federal Credit Union. 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

    942

    Origination Dollar Volume (All Markets)

    $120,820,000

    Awards

    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 30 Year Conventional Loans bronze ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 30 Year Conventional Loans silver ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 30 Year Conventional Loans silver
    Show all (3) 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) 540 $71,880,000 $133,111 $1,864 5.01%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 282 $31,010,000 $109,965 $1,814 5.37%
    Outside of Metro Areas 116 $17,210,000 $148,362 $2,499 4.81%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $375,000 $375,000 $2,828 3.75%
    DOVER, DE (FHA|USDA|VA) 2 $180,000 $90,000 $4,648 5.21%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $165,000 $165,000 $3,412 4.38%
    Aberdeen Proving Ground Federal Credit Union's top markets include Baltimore, Philadelphia, Washington, Dover, and Salisbury among others.

    Their top states include:
  • Maryland (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against ABERDEEN PROVING GROUND FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 122
    Prudential Bank
    Similarity Rank: 162
    CREDIT UNION OF NEW JERSEY
    Similarity Rank: 180
    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 218
    POINT BREEZE
    Similarity Rank: 270
    Columbia Bank
    Similarity Rank: 440
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 444
    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 528
    APL
    Similarity Rank: 605
    EDUCATIONAL SYSTEMS
    Similarity Rank: 714

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 933 $118,515,000 $127,026 $1,907 5.10%
    VA 7 $1,995,000 $285,000 $5,224 3.70%
    USDA 2 $310,000 $155,000 $4,143 4.06%

    For 2019, Aberdeen Proving Ground Federal Credit Union's most frequently originated type of loan was Conventional, with 933 originations. Their 2nd most popular type was VA, with 7 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 480 $60,420,000 $125,875 $1,439 4.95%
    Home Purchase 346 $48,330,000 $139,682 $3,274 5.41%
    Home Improvement 65 $2,875,000 $44,231 $28 5.27%
    Refi 51 $9,195,000 $180,294 $2,523 4.04%

    For 2019, Aberdeen Proving Ground Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 480 originations. The 2nd most popular reason was Home Purchase, with 346 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 295 $68,305,000 $231,542 $3,826 4.00%
    15 Year 236 $27,700,000 $117,373 $1,645 4.93%
    20 Year 220 $14,880,000 $67,636 $467 6.68%
    10 Year 111 $5,955,000 $53,649 $301 5.47%
    5 Year 63 $2,275,000 $36,111 $6 4.56%
    Other 17 $1,705,000 $100,294 $3,974 5.26%

    For 2019, Aberdeen Proving Ground Federal Credit Union's most frequently cited loan duration was 30 Year, with 295 originations. The 2nd most popular length was 15 Year, with 236 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 620 $71,180,000 $114,806
    $1k-2k 146 $27,930,000 $191,301
    $2k-3k 38 $10,070,000 $265,000
    $3k-4k 13 $3,865,000 $297,308
    $4k-5k 5 $1,255,000 $251,000
    $5k+ 4 $1,220,000 $305,000

    Aberdeen Proving Ground Federal Credit Union's average total fees were $3,826, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 620 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 302 $67,370,000 $223,079
    4-5% 231 $28,235,000 $122,229
    5-6% 169 $11,125,000 $65,828
    7-8% 93 $4,365,000 $46,935
    6-7% 87 $3,945,000 $45,345
    Over 8% 39 $1,515,000 $38,846
    2.5-3% 21 $4,265,000 $203,095

    During 2019, Aberdeen Proving Ground Federal Credit Union's average interest rate for loans was 4.00%, while their most frequently originated rate bucket for loans was 3-4%, with 302 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 513 $23,765,000 $46,326 $367 6.02%
    $100k-200k 212 $31,490,000 $148,538 $2,926 4.09%
    $200k-400k 185 $50,425,000 $272,568 $3,894 3.90%
    $400k-600k 30 $13,910,000 $463,667 $4,494 3.70%
    $600k-1MM 2 $1,230,000 $615,000 $4,211 3.81%

    2019 saw Aberdeen Proving Ground Federal Credit Union place emphasis on $100,000 or less loans with 513 originations, totaling $23,765,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 224 $31,870,000 $142,277 $1,727 4.94%
    $50k-75k 211 $22,085,000 $104,668 $2,007 5.17%
    $75k-100k 186 $21,190,000 $113,925 $2,071 5.11%
    $150k-250k 169 $27,585,000 $163,225 $1,628 4.96%
    $50k or less 120 $9,830,000 $81,917 $2,466 5.55%
    $250k+ 32 $8,260,000 $258,125 $2,724 4.52%

    Aberdeen Proving Ground Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 224 originations. The second most popular income band? $50k-75k, with 211 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 259 $33,925,000 $130,985 $1,956 5.06%
    30-36% 209 $28,455,000 $136,148 $2,136 4.98%
    <20% 56 $8,650,000 $154,464 $2,747 4.58%
    41% 51 $5,855,000 $114,804 $1,378 5.60%
    42% 47 $3,775,000 $80,319 $1,135 5.63%
    37% 45 $4,765,000 $105,889 $1,509 5.07%
    36% 37 $5,025,000 $135,811 $1,706 4.96%
    44% 36 $5,840,000 $162,222 $2,388 5.15%
    40% 34 $4,240,000 $124,706 $1,802 5.11%
    39% 30 $2,800,000 $93,333 $1,330 4.99%
    38% 27 $3,285,000 $121,667 $1,836 5.16%
    43% 25 $2,925,000 $117,000 $1,553 5.26%
    45% 22 $2,400,000 $109,091 $2,050 5.36%
    49% 13 $1,905,000 $146,538 $2,635 4.58%
    46% 12 $1,730,000 $144,167 $3,719 4.53%
    47% 12 $2,100,000 $175,000 $1,637 5.30%
    48% 11 $1,225,000 $111,364 $1,722 4.74%
    >60% 8 $1,040,000 $130,000 $2,332 6.07%
    50-60% 6 $790,000 $131,667 $1,889 5.43%

    Aberdeen Proving Ground Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 259 originations. The next most common DTI ratio? 30-36%, with 209 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 771 $96,745,000 $125,480 $1,878 5.14%
    Not provided 89 $12,625,000 $141,854 $2,210 4.72%
    Black 67 $9,815,000 $146,493 $2,054 5.04%
    Asian 10 $1,110,000 $111,000 $3,331 5.20%
    American Indian 3 $295,000 $98,333 $3,077 5.14%
    Native Hawaiian or Islander 2 $230,000 $115,000 $1,724 5.73%

    Approval Rates

    Total approvals of all applications
    88.74%

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

    Pick Rate

    Approvals leading to origination
    85.56%

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

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 105 $4,145,000 $39,476
    NA 837 $116,675,000 $139,397

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 114 $5,070,000 $44,474
    Single Family (1-4 Units):Site-Built 828 $115,750,000 $139,795

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 167 $12,815,000 $76,737 $643 5.35%
    40-60% 90 $13,220,000 $146,889 $2,682 4.10%
    60-80% 251 $47,675,000 $189,940 $3,576 4.77%
    80-100% 174 $36,090,000 $207,414 $4,085 4.73%
    Over 100% 2 $490,000 $245,000 $10,828 3.56%
    Under 20% 253 $10,385,000 $41,047 $53 5.82%