Meridian Trust Federal Credit Union Mortgage Rates, Fees & Info

Cheyenne, WY

LEI: 5493007KYI3BO5LTXF79

Tax ID: 83-0179749

5 stars - Updated: 12/2/24 - out of 5 stars, based on 19 reviews

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

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Mortgage Data

Review & Overview

Meridian Trust Federal Credit Union is a smaller credit union specializing in Other loans. Meridian Trust Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Cheyenne, Jackson, Scottsbluff, Fort Collins, and Riverton among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

Meridian Trust 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. Meridian Trust 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 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
Home Equity Line of Credit (HELOC) 6.27% 12/2/24
30 Year Conventional Purchase 6.27% 12/2/24
30 Year Conventional Refi 6.27% 12/2/24
30 Year Cash-out Refi 6.27% 12/2/24
15 Year Conventional Purchase 5.68% 12/2/24
15 Year Conventional Refi 5.68% 12/2/24
15 Year Cash-out Refi 5.68% 12/2/24
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.

Meridian Trust 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 Meridian Trust 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

355

Origination Dollar Volume (All Markets)

$40,445,000

Relative Rate

Meridian Trust Federal Credit Union's average 30 year fixed mortgage rate was 6.66%.

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

This yields a difference of 0.18%.

Relative Fees (Closing Costs)

Meridian Trust Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,992.

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
CHEYENNE, WY (FHA|USDA|VA) 131 $13,865,000 $105,840 $1,303 6.43%
Outside of Metro Areas 74 $7,980,000 $107,838 $1,749 6.53%
Jackson, WY-ID (FHA|USDA|VA) 28 $6,120,000 $218,571 $3,609 6.17%
Scottsbluff, NE (FHA|USDA|VA) 34 $2,470,000 $72,647 $1,302 6.34%
FORT COLLINS, CO (FHA|USDA|VA) 17 $2,385,000 $140,294 $576 6.20%
Riverton, WY (FHA|USDA|VA) 24 $2,340,000 $97,500 $608 6.28%
IDAHO FALLS, ID (FHA|USDA|VA) 5 $1,115,000 $223,000 $5,238 5.79%
Rock Springs, WY (FHA|USDA|VA) 11 $735,000 $66,818 $1,321 6.54%
Laramie, WY (FHA|USDA|VA) 4 $730,000 $182,500 $3,193 6.35%
CASPER, WY (FHA|USDA|VA) 7 $465,000 $66,429 $433 6.06%
Sheridan, WY (FHA|USDA|VA) 3 $425,000 $141,667 $499 6.46%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 4 $350,000 $87,500 $651 6.62%
Columbus, NE (FHA|USDA|VA) 1 $305,000 $305,000 $6,097 7.00%
GREAT FALLS, MT (FHA|USDA|VA) 1 $195,000 $195,000 $3,798 6.50%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $195,000 $195,000 $370 6.50%
LINCOLN, NE (FHA|USDA|VA) 1 $175,000 $175,000 $2,622 6.50%
GREELEY, CO (FHA|USDA|VA) 4 $170,000 $42,500 $0 5.74%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $155,000 $155,000 $2,749 6.50%
Gillette, WY (FHA|USDA|VA) 2 $100,000 $50,000 $423 6.50%
KNOXVILLE, TN (FHA|USDA|VA) 1 $95,000 $95,000 $623 7.50%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $75,000 $75,000 $0 5.99%
Meridian Trust Federal Credit Union's top markets include Cheyenne, Jackson, Scottsbluff, Fort Collins, and Riverton among others.

Their top states include:
  • Wyoming (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)
  • Similar Lenders

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

    CENTENNIAL LENDING, LLC
    Similarity Rank: 126
    Blue Federal Credit Union
    Similarity Rank: 255
    Jonah Bank of Wyoming
    Similarity Rank: 442
    CASTLE & COOKE MORTGAGE, LLC
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    West Gate Bank
    Similarity Rank: 840
    NAVY FEDERAL CREDIT UNION
    Similarity Rank: 1778
    First National Bank of Omaha
    Similarity Rank: 2244
    Wallick & Volk, Inc.
    Similarity Rank: 2990
    First Interstate Bank
    Similarity Rank: 3132
    CMG MORTGAGE, INC.
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 187 $20,455,000 $109,385 $1,449 6.79%
    HELOC 168 $19,990,000 $118,988 n/a 5.93%

    For 2023, Meridian Trust Federal Credit Union's most frequently originated type of loan was Conventional, with 187 originations. Their 2nd most popular type was HELOC, with 168 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 230 $22,050,000 $95,870 $636 6.35%
    Refi 40 $5,090,000 $127,250 $1,665 6.80%
    Cash Out Refi 40 $5,320,000 $133,000 $1,754 6.07%
    Home Purchase 22 $5,300,000 $240,909 $4,779 6.77%
    Home Improvement 21 $2,645,000 $125,952 $1,560 6.27%
    NA 2 $40,000 $20,000 $495 6.20%

    For 2023, Meridian Trust Federal Credit Union's most frequently cited loan purpose was Other, with 230 originations. The 2nd most popular reason was Refi, with 40 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 273 $27,635,000 $101,227 $659 6.33%
    30 Year 40 $9,980,000 $249,500 $3,992 6.66%
    10 Year 15 $645,000 $43,000 $482 6.91%
    15 Year 13 $1,215,000 $93,462 $1,271 6.54%
    Other 12 $890,000 $74,167 $1,418 6.15%
    5 Year 2 $80,000 $40,000 $608 5.25%

    For 2023, Meridian Trust Federal Credit Union's most frequently cited loan duration was 20 Year, with 273 originations. The 2nd most popular length was 30 Year, with 40 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 137 $8,945,000 $65,292
    $1k-2k 18 $2,640,000 $146,667
    $2k-3k 15 $3,675,000 $245,000
    $5k+ 5 $2,825,000 $565,000
    $3k-4k 3 $985,000 $328,333
    $4k-5k 2 $880,000 $440,000

    Meridian Trust Federal Credit Union's average total fees were $3,992, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 137 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 138 $17,140,000 $124,203
    6-7% 118 $12,540,000 $106,271
    4-5% 38 $4,530,000 $119,211
    7-8% 36 $3,700,000 $102,778
    Over 8% 24 $2,400,000 $100,000
    <2.5% 1 $135,000 $135,000

    During 2023, Meridian Trust Federal Credit Union's average interest rate for loans was 6.66%, while their most frequently originated rate bucket for loans was 5-6%, with 138 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 225 $11,985,000 $53,267 $683 6.43%
    $100k-200k 72 $9,470,000 $131,528 $1,690 6.37%
    $200k-400k 47 $13,295,000 $282,872 $4,335 6.30%
    $400k-600k 9 $4,425,000 $491,667 $5,394 5.83%
    $600k-1MM 2 $1,270,000 $635,000 $8,501 6.81%

    2023 saw Meridian Trust Federal Credit Union place emphasis on $100,000 or less loans with 225 originations, totaling $11,985,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 106 $11,400,000 $107,547 $1,493 6.49%
    $150k-250k 74 $9,910,000 $133,919 $1,456 6.18%
    $50k-75k 62 $5,050,000 $81,452 $1,282 6.46%
    $75k-100k 59 $5,195,000 $88,051 $1,109 6.45%
    $50k or less 29 $2,025,000 $69,828 $1,328 6.41%
    $250k+ 25 $6,865,000 $274,600 $3,030 6.23%

    Meridian Trust Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 106 originations. The second most popular income band? $150k-250k, with 74 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 78 $8,170,000 $104,744 $1,405 6.37%
    30-36% 67 $7,185,000 $107,239 $1,656 6.47%
    <20% 41 $4,885,000 $119,146 $1,770 6.18%
    43% 21 $2,495,000 $118,810 $1,643 6.26%
    44% 20 $2,380,000 $119,000 $1,311 6.21%
    39% 18 $2,010,000 $111,667 $682 6.81%
    40% 18 $1,850,000 $102,778 $916 6.24%
    38% 15 $1,645,000 $109,667 $852 6.12%
    36% 15 $1,705,000 $113,667 $1,205 6.43%
    42% 13 $915,000 $70,385 $704 6.62%
    41% 12 $1,090,000 $90,833 $872 6.31%
    46% 10 $1,400,000 $140,000 $2,059 6.81%
    45% 8 $1,480,000 $185,000 $2,171 6.12%
    37% 8 $940,000 $117,500 $2,396 6.36%
    50-60% 4 $580,000 $145,000 $2,191 7.15%
    >60% 2 $710,000 $355,000 $1,135 6.25%
    47% 2 $680,000 $340,000 $4,358 6.85%
    48% 2 $260,000 $130,000 $585 7.25%
    49% 1 $65,000 $65,000 $0 5.99%

    Meridian Trust Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 78 originations. The next most common DTI ratio? 30-36%, with 67 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 336 $38,960,000 $115,952 $1,451 6.37%
    Not provided 10 $770,000 $77,000 $1,578 6.27%
    Asian 4 $360,000 $90,000 $1,946 6.98%
    American Indian 4 $240,000 $60,000 $409 6.95%
    Black 1 $115,000 $115,000 $0 8.50%

    Approval Rates

    Total approvals of all applications
    79.50%

    Meridian Trust Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    70.70%

    Meridian Trust Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 355 $40,445,000 $113,930

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    355 $40,445,000 $113,930

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 99 $11,595,000 $117,121 $905 6.40%
    40-60% 36 $6,400,000 $177,778 $1,935 6.46%
    60-80% 24 $5,100,000 $212,500 $3,305 6.38%
    80-100% 24 $5,740,000 $239,167 $4,098 6.48%
    Under 20% 172 $11,610,000 $67,500 $547 6.35%