Meridian Trust Federal Credit Union Mortgage Rates, Fees & Info

Cheyenne, WY

LEI: 5493007KYI3BO5LTXF79

Tax ID: 83-0179749

5 stars - Updated: 11/17/24

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 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%	11/17/24
30 Year Conventional Purchase	6.27%	11/17/24
30 Year Conventional Refi	6.27%	11/17/24
30 Year Cash-out Refi	6.27%	11/17/24
15 Year Conventional Purchase	5.68%	11/17/24
15 Year Conventional Refi	5.68%	11/17/24
15 Year Cash-out Refi	5.68%	11/17/24
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

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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
Similarity Rank: 744

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.
Similarity Rank: 3894

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%