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 Refi, 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, Salisbury, and York among others. We have data for 5 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

    845

    Origination Dollar Volume (All Markets)

    $153,385,000

    Awards

    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 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) 470 $91,790,000 $195,298 $3,006 3.90%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 257 $38,915,000 $151,420 $2,818 4.52%
    Outside of Metro Areas 113 $22,385,000 $198,097 $3,535 3.58%
    SALISBURY, MD-DE (FHA|USDA|VA) 4 $250,000 $62,500 $0 5.99%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.44%
    Aberdeen Proving Ground Federal Credit Union's top markets include Baltimore, Philadelphia, Salisbury, and York among others.

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

    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 271
    Beeline Loans, Inc.
    Similarity Rank: 430
    First Citizens Community Bank
    Similarity Rank: 589
    BHCU
    Similarity Rank: 625
    Prudential Bank
    Similarity Rank: 640
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 864
    APL
    Similarity Rank: 1122
    Unity Bank
    Similarity Rank: 1258
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 1296
    GLENDENNING MORTGAGE CORPORATION
    Similarity Rank: 1340

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 823 $147,875,000 $179,678 $2,960 4.07%
    VA 12 $3,710,000 $309,167 $5,859 3.26%
    USDA 10 $1,800,000 $180,000 $4,842 3.66%

    For 2020, Aberdeen Proving Ground Federal Credit Union's most frequently originated type of loan was Conventional, with 823 originations. Their 2nd most popular type was VA, with 12 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 316 $72,290,000 $228,766 $3,119 3.24%
    Cash Out Refi 300 $48,550,000 $161,833 $2,581 4.15%
    Home Purchase 219 $32,055,000 $146,370 $3,803 5.03%
    Home Improvement 10 $490,000 $49,000 $688 5.63%

    For 2020, Aberdeen Proving Ground Federal Credit Union's most frequently cited loan purpose was Refi, with 316 originations. The 2nd most popular reason was Cash Out Refi, with 300 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 296 $54,570,000 $184,358 $2,905 3.50%
    30 Year 284 $71,260,000 $250,915 $3,770 3.47%
    20 Year 170 $18,120,000 $106,588 $1,902 5.71%
    10 Year 65 $7,075,000 $108,846 $1,733 4.40%
    5 Year 16 $530,000 $33,125 $67 5.12%
    Other 14 $1,830,000 $130,714 $3,924 4.81%

    For 2020, Aberdeen Proving Ground Federal Credit Union's most frequently cited loan duration was 15 Year, with 296 originations. The 2nd most popular length was 30 Year, with 284 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 533 $81,755,000 $153,386
    $1k-2k 223 $47,945,000 $215,000
    $2k-3k 58 $15,210,000 $262,241
    $3k-4k 17 $4,175,000 $245,588
    $4k-5k 11 $3,435,000 $312,273
    $5k+ 3 $865,000 $288,333

    Aberdeen Proving Ground Federal Credit Union's average total fees were $3,770, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 533 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 331 $80,625,000 $243,580
    2.5-3% 185 $40,695,000 $219,973
    5-6% 100 $5,230,000 $52,300
    <2.5% 75 $16,205,000 $216,067
    6-7% 51 $2,475,000 $48,529
    4-5% 46 $5,220,000 $113,478
    7-8% 41 $2,235,000 $54,512
    Over 8% 16 $700,000 $43,750

    During 2020, Aberdeen Proving Ground Federal Credit Union's average interest rate for loans was 3.47%, while their most frequently originated rate bucket for loans was 3-4%, with 331 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 303 $83,165,000 $274,472 $3,756 3.18%
    $100k-200k 252 $38,970,000 $154,643 $2,957 3.29%
    $100,000 or less 251 $12,285,000 $48,944 $700 6.01%
    $400k-600k 38 $18,330,000 $482,368 $4,454 3.24%
    $600k-1MM 1 $635,000 $635,000 $3,311 3.25%

    2020 saw Aberdeen Proving Ground Federal Credit Union place emphasis on $200k-400k loans with 303 originations, totaling $83,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 226 $45,750,000 $202,434 $2,965 3.79%
    $150k-250k 183 $44,045,000 $240,683 $3,224 3.72%
    $75k-100k 156 $23,860,000 $152,949 $2,799 3.91%
    $50k-75k 149 $21,265,000 $142,718 $3,143 4.41%
    $50k or less 100 $10,050,000 $100,500 $2,915 5.00%
    $250k+ 27 $8,215,000 $304,259 $3,438 3.58%

    Aberdeen Proving Ground Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 226 originations. The second most popular income band? $150k-250k, with 183 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 247 $48,765,000 $197,429 $3,113 3.86%
    30-36% 169 $31,805,000 $188,195 $2,888 4.14%
    <20% 106 $19,960,000 $188,302 $3,006 3.41%
    37% 35 $5,255,000 $150,143 $2,663 4.45%
    41% 33 $5,035,000 $152,576 $3,075 4.89%
    36% 31 $6,285,000 $202,742 $3,664 4.04%
    42% 28 $5,570,000 $198,929 $3,089 4.06%
    43% 26 $4,760,000 $183,077 $3,215 3.67%
    38% 26 $3,930,000 $151,154 $2,798 4.67%
    39% 25 $3,515,000 $140,600 $2,891 4.18%
    44% 22 $3,930,000 $178,636 $3,220 3.62%
    40% 19 $4,305,000 $226,579 $2,899 4.27%
    47% 14 $2,330,000 $166,429 $2,957 4.03%
    45% 11 $1,235,000 $112,273 $2,796 4.84%
    49% 10 $2,130,000 $213,000 $3,193 3.89%
    50-60% 10 $640,000 $64,000 $3,131 6.20%
    48% 9 $1,115,000 $123,889 $2,611 4.21%
    46% 8 $1,380,000 $172,500 $5,234 4.45%
    >60% 5 $225,000 $45,000 $0 6.33%

    Aberdeen Proving Ground Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 247 originations. The next most common DTI ratio? 30-36%, with 169 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 667 $119,715,000 $179,483 $3,065 4.10%
    Not provided 99 $19,655,000 $198,535 $2,725 3.60%
    Black 57 $10,375,000 $182,018 $3,088 4.18%
    Asian 16 $3,140,000 $196,250 $3,745 4.26%
    American Indian 2 $280,000 $140,000 $7,732 4.18%
    Native Hawaiian or Islander 1 $125,000 $125,000 $2,280 2.88%
    Other Pacific Islander 2 $80,000 $40,000 $0 6.87%
    Other Asian 1 $15,000 $15,000 $0 6.44%

    Approval Rates

    Total approvals of all applications
    89.19%

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

    Pick Rate

    Approvals leading to origination
    82.49%

    Aberdeen Proving Ground Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 93 $4,065,000 $43,710
    NA 752 $149,320,000 $198,564

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 101 $4,895,000 $48,465
    Single Family (1-4 Units):Site-Built 744 $148,490,000 $199,583

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 92 $8,340,000 $90,652 $1,262 4.90%
    40-60% 131 $24,115,000 $184,084 $2,946 3.26%
    60-80% 331 $72,425,000 $218,807 $3,419 3.74%
    80-100% 197 $44,285,000 $224,797 $4,098 3.94%
    Under 20% 91 $4,145,000 $45,549 $450 5.66%