Meridian Trust Federal Credit Union Mortgage Rates, Fees & Info

Cheyenne, WY

LEI: 5493007KYI3BO5LTXF79

Tax ID: 83-0179749

5 stars - Updated: 9/25/23 - out of 5 stars, based on 27 reviews

Latest/2022 | 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 and Cash Out Refi loans. Meridian Trust Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Cheyenne, Jackson, Fort Collins, Riverton, and Scottsbluff among others. We have data for 29 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 an 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 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) 6.27% 9/25/23
30 Year Conventional Purchase 6.27% 9/25/23
30 Year Conventional Refi 6.27% 9/25/23
30 Year Cash-out Refi 6.27% 9/25/23
15 Year Conventional Purchase 5.68% 9/25/23
15 Year Conventional Refi 5.68% 9/25/23
15 Year Cash-out Refi 5.68% 9/25/23
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

730

Origination Dollar Volume (All Markets)

$94,890,000

Relative Rate

Meridian Trust Federal Credit Union's average 30 year fixed mortgage rate was 4.1%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.66%.

Relative Fees (Closing Costs)

Meridian Trust Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,438.

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 $4,750.

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) 272 $32,850,000 $120,772 $2,320 3.36%
Outside of Metro Areas 138 $15,790,000 $114,420 $2,910 3.45%
Jackson, WY-ID (FHA|USDA|VA) 59 $12,575,000 $213,136 $4,942 3.14%
FORT COLLINS, CO (FHA|USDA|VA) 47 $6,975,000 $148,404 $2,029 3.23%
Riverton, WY (FHA|USDA|VA) 58 $6,050,000 $104,310 $2,619 3.56%
Scottsbluff, NE (FHA|USDA|VA) 60 $5,520,000 $92,000 $3,363 3.45%
Rock Springs, WY (FHA|USDA|VA) 21 $2,465,000 $117,381 $2,704 3.31%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 13 $1,995,000 $153,462 $3,819 2.72%
GREELEY, CO (FHA|USDA|VA) 14 $1,610,000 $115,000 $4,456 2.73%
CASPER, WY (FHA|USDA|VA) 11 $1,445,000 $131,364 $2,595 3.72%
Sheridan, WY (FHA|USDA|VA) 5 $1,435,000 $287,000 $4,627 3.95%
Laramie, WY (FHA|USDA|VA) 9 $1,225,000 $136,111 $3,672 3.79%
IDAHO FALLS, ID (FHA|USDA|VA) 3 $935,000 $311,667 $8,160 6.36%
Evanston, WY (FHA|USDA|VA) 3 $525,000 $175,000 $5,781 5.68%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $505,000 $505,000 $0 1.99%
Sterling, CO (FHA|USDA|VA) 1 $425,000 $425,000 $0 4.75%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $405,000 $405,000 $0 4.99%
Bozeman, MT (FHA|USDA|VA) 2 $390,000 $195,000 $3,917 4.49%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $355,000 $355,000 $11,944 3.88%
Glenwood Springs, CO (FHA|USDA|VA) 1 $255,000 $255,000 $5,152 6.35%
Craig, CO (FHA|USDA|VA) 1 $245,000 $245,000 $7,170 3.75%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $205,000 $205,000 $0 1.99%
LINCOLN, NE (FHA|USDA|VA) 1 $175,000 $175,000 $0 1.99%
BOISE CITY, ID (FHA|USDA|VA) 1 $155,000 $155,000 $0 3.99%
Breckenridge, CO (FHA|USDA|VA) 1 $155,000 $155,000 $0 1.99%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $110,000 $55,000 $387 3.50%
Cañon City, CO (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.99%
Blackfoot, ID (FHA|USDA|VA) 1 $35,000 $35,000 $0 1.99%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.99%
Meridian Trust Federal Credit Union's top markets include Cheyenne, Jackson, Fort Collins, Riverton, and Scottsbluff among others.

Their top states include:
  • Wyoming (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Montana (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 510 $56,030,000 $109,863 n/a 2.86%
    Conventional 220 $38,860,000 $176,636 $2,948 4.63%

    For 2022, Meridian Trust Federal Credit Union's most frequently originated type of loan was HELOC, with 510 originations. Their 2nd most popular type was Conventional, with 220 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 370 $39,510,000 $106,784 $450 2.98%
    Cash Out Refi 212 $27,770,000 $130,991 $2,278 3.30%
    Refi 74 $10,700,000 $144,595 $2,134 4.13%
    Home Purchase 73 $16,835,000 $230,616 $4,972 4.93%
    Home Improvement 1 $75,000 $75,000 $0 5.25%

    For 2022, Meridian Trust Federal Credit Union's most frequently cited loan purpose was Other, with 370 originations. The 2nd most popular reason was Cash Out Refi, with 212 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 524 $56,240,000 $107,328 $1,078 3.07%
    30 Year 125 $27,915,000 $223,320 $4,438 4.10%
    Other 39 $4,805,000 $123,205 $1,531 4.30%
    15 Year 30 $4,340,000 $144,667 $2,620 4.32%
    10 Year 7 $625,000 $89,286 $1,471 4.93%
    5 Year 5 $965,000 $193,000 $231 5.19%

    For 2022, Meridian Trust Federal Credit Union's most frequently cited loan duration was 20 Year, with 524 originations. The 2nd most popular length was 30 Year, with 125 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 116 $12,860,000 $110,862
    $1k-2k 44 $7,240,000 $164,545
    $2k-3k 17 $4,575,000 $269,118
    $3k-4k 13 $4,745,000 $365,000
    $4k-5k 6 $3,160,000 $526,667
    $5k+ 4 $1,910,000 $477,500

    Meridian Trust Federal Credit Union's average total fees were $4,438, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 116 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 318 $33,760,000 $106,164
    3-4% 215 $30,955,000 $143,977
    4-5% 106 $15,050,000 $141,981
    5-6% 34 $7,300,000 $214,706
    6-7% 27 $4,185,000 $155,000
    2.5-3% 17 $2,035,000 $119,706
    7-8% 10 $1,420,000 $142,000
    Over 8% 2 $140,000 $70,000

    During 2022, Meridian Trust Federal Credit Union's average interest rate for loans was 4.10%, while their most frequently originated rate bucket for loans was <2.5%, with 318 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 391 $20,235,000 $51,752 $1,252 3.18%
    $100k-200k 190 $26,020,000 $136,947 $2,647 3.54%
    $200k-400k 114 $31,820,000 $279,123 $4,684 3.73%
    $400k-600k 32 $14,870,000 $464,688 $5,724 3.79%
    $600k-1MM 3 $1,945,000 $648,333 $8,556 3.67%

    2022 saw Meridian Trust Federal Credit Union place emphasis on $100,000 or less loans with 391 originations, totaling $20,235,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 215 $26,705,000 $124,209 $2,894 3.28%
    $75k-100k 147 $16,455,000 $111,939 $2,761 3.21%
    $150k-250k 133 $22,415,000 $168,534 $3,374 3.39%
    $50k-75k 124 $11,810,000 $95,242 $2,629 3.63%
    $50k or less 70 $5,480,000 $78,286 $2,155 3.45%
    $250k+ 41 $12,025,000 $293,293 $6,190 3.76%

    Meridian Trust Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 215 originations. The second most popular income band? $75k-100k, with 147 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 151 $18,625,000 $123,344 $2,796 3.21%
    30-36% 120 $14,360,000 $119,667 $2,824 3.38%
    <20% 93 $10,175,000 $109,409 $3,409 3.34%
    44% 48 $7,680,000 $160,000 $2,544 3.61%
    45% 36 $3,940,000 $109,444 $1,705 3.51%
    43% 32 $4,260,000 $133,125 $2,903 3.43%
    46% 30 $4,510,000 $150,333 $2,331 3.19%
    40% 29 $2,705,000 $93,276 $2,882 3.50%
    41% 28 $3,840,000 $137,143 $3,365 3.01%
    42% 27 $3,435,000 $127,222 $1,991 3.04%
    37% 25 $2,965,000 $118,600 $2,947 3.84%
    39% 20 $3,080,000 $154,000 $3,897 3.78%
    36% 17 $2,455,000 $144,412 $4,830 3.13%
    38% 16 $2,490,000 $155,625 $4,620 3.61%
    50-60% 14 $2,330,000 $166,429 $2,303 3.48%
    47% 9 $1,315,000 $146,111 $0 2.66%
    48% 7 $1,105,000 $157,857 $399 3.37%
    49% 4 $460,000 $115,000 $0 2.49%
    >60% 3 $815,000 $271,667 $0 2.66%

    Meridian Trust Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 151 originations. The next most common DTI ratio? 30-36%, with 120 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 655 $83,335,000 $127,229 $2,970 3.39%
    Not provided 61 $9,245,000 $151,557 $2,684 3.28%
    Asian 3 $875,000 $291,667 $0 2.99%
    American Indian 3 $425,000 $141,667 $319 3.54%
    Native Hawaiian or Islander 2 $360,000 $180,000 $0 2.99%
    Other Asian 2 $240,000 $120,000 $5,143 5.32%
    Other Pacific Islander 2 $150,000 $75,000 $4,083 4.40%
    Filipino 1 $135,000 $135,000 $0 3.99%
    Black 1 $125,000 $125,000 $0 3.99%

    Approval Rates

    Total approvals of all applications
    87.77%

    Meridian Trust Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.33%

    Meridian Trust Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 9 $855,000 $95,000
    NA 721 $94,035,000 $130,423

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    730 $94,890,000 $129,986

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 223 $28,635,000 $128,408 $1,331 3.23%
    40-60% 63 $12,045,000 $191,190 $2,107 3.51%
    60-80% 60 $12,350,000 $205,833 $3,510 4.12%
    80-100% 98 $23,420,000 $238,980 $4,311 4.20%
    Under 20% 280 $16,400,000 $58,571 $644 3.02%