Merck Sharp & Dohme Federal Credit Union Mortgage Rates, Fees & Info

Chalfont, PA

LEI: 549300A4SPX2JOQ71791

Tax ID: 23-1433398

5 stars - Updated: 12/2/24 - out of 5 stars, based on 23 reviews

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

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Mortgage Data

Review & Overview

Merck Sharp & Dohme Federal Credit Union is a smaller credit union specializing in Home Improvement, Refi, and Other loans. Merck Sharp & Dohme Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Allentown, Reading, New York, and Ocean City among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

Merck Sharp & Dohme Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Merck Sharp & Dohme Federal Credit Union is typically an average 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
30 Year Conventional Purchase 7.16% 12/2/24
30 Year Conventional Refi 6.21% 12/2/24
30 Year Cash-out Refi 6.38% 12/2/24
15 Year Conventional Purchase 5.89% 12/2/24
15 Year Conventional Refi 5.60% 12/2/24
15 Year Cash-out Refi 5.60% 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.

Merck Sharp & Dohme 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 Merck Sharp & Dohme 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

519

Origination Dollar Volume (All Markets)

$64,505,000

Awards

MERCK SHARP & DOHME FEDERAL CREDIT UNION 30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

Merck Sharp & Dohme Federal Credit Union's average 30 year fixed mortgage rate was 6.55%.

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

This yields a difference of 0.07%.

Relative Fees (Closing Costs)

Merck Sharp & Dohme Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $6,686.

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
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 362 $43,810,000 $121,022 $811 6.48%
Outside of Metro Areas 102 $11,320,000 $110,980 $500 6.33%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 23 $3,145,000 $136,739 $768 6.74%
READING, PA (FHA|USDA|VA) 13 $2,055,000 $158,077 $2,716 6.51%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 5 $1,385,000 $277,000 $4,209 6.37%
OCEAN CITY, NJ (FHA|USDA|VA) 2 $690,000 $345,000 $11,654 7.25%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $480,000 $240,000 $150 7.00%
MIDLAND, MI (FHA|USDA|VA) 1 $465,000 $465,000 $4,770 6.88%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 3 $355,000 $118,333 $3,125 6.41%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $265,000 $265,000 $6,010 7.13%
Oil City, PA (FHA|USDA|VA) 1 $205,000 $205,000 $7,877 6.63%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $165,000 $165,000 $7,735 6.00%
Pottsville, PA (FHA|USDA|VA) 1 $115,000 $115,000 $0 7.75%
LANCASTER, PA (FHA|USDA|VA) 1 $25,000 $25,000 $150 5.74%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $25,000 $25,000 $150 5.24%
Merck Sharp & Dohme Federal Credit Union's top markets include Philadelphia, Allentown, Reading, New York, and Ocean City among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Similar Lenders

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 335 $38,795,000 $115,806 $958 5.95%
    HELOC 184 $25,710,000 $139,728 n/a 7.42%

    For 2023, Merck Sharp & Dohme Federal Credit Union's most frequently originated type of loan was Conventional, with 335 originations. Their 2nd most popular type was HELOC, with 184 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 209 $18,555,000 $88,780 $149 6.43%
    Refi 136 $19,790,000 $145,515 $144 6.54%
    Other 133 $13,685,000 $102,895 $148 6.45%
    Home Purchase 33 $10,305,000 $312,273 $6,880 6.52%
    Cash Out Refi 8 $2,170,000 $271,250 $7,843 6.27%

    For 2023, Merck Sharp & Dohme Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 209 originations. The 2nd most popular reason was Refi, with 136 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 303 $41,045,000 $135,462 $389 6.96%
    10 Year 80 $6,710,000 $83,875 $150 5.65%
    5 Year 61 $3,095,000 $50,738 $150 5.27%
    Other 39 $2,545,000 $65,256 $150 6.09%
    30 Year 34 $10,430,000 $306,765 $6,686 6.55%
    20 Year 2 $680,000 $340,000 $8,291 6.38%

    For 2023, Merck Sharp & Dohme Federal Credit Union's most frequently cited loan duration was 15 Year, with 303 originations. The 2nd most popular length was 10 Year, with 80 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 292 $26,130,000 $89,486
    $2k-3k 11 $2,835,000 $257,727
    $3k-4k 9 $2,605,000 $289,444
    $1k-2k 7 $2,095,000 $299,286
    $5k+ 7 $3,165,000 $452,143
    $4k-5k 5 $1,585,000 $317,000

    Merck Sharp & Dohme Federal Credit Union's average total fees were $6,686, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 292 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 182 $15,300,000 $84,066
    6-7% 175 $24,885,000 $142,200
    7-8% 135 $21,775,000 $161,296
    4-5% 20 $1,950,000 $97,500
    Over 8% 7 $595,000 $85,000

    During 2023, Merck Sharp & Dohme Federal Credit Union's average interest rate for loans was 6.55%, while their most frequently originated rate bucket for loans was 5-6%, with 182 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 290 $15,330,000 $52,862 $170 6.25%
    $100k-200k 130 $17,420,000 $134,000 $538 6.69%
    $200k-400k 80 $22,510,000 $281,375 $3,655 6.75%
    $400k-600k 17 $8,015,000 $471,471 $7,071 7.07%
    $600k-1MM 2 $1,230,000 $615,000 $8,959 6.94%

    2023 saw Merck Sharp & Dohme Federal Credit Union place emphasis on $100,000 or less loans with 290 originations, totaling $15,330,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 185 $23,395,000 $126,459 $1,052 6.47%
    $100k-150k 123 $11,385,000 $92,561 $640 6.50%
    $250k+ 104 $19,370,000 $186,250 $814 6.59%
    $75k-100k 45 $3,345,000 $74,333 $456 6.22%
    $50k-75k 31 $2,115,000 $68,226 $746 6.12%
    $50k or less 10 $710,000 $71,000 $150 6.80%

    Merck Sharp & Dohme Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 185 originations. The second most popular income band? $100k-150k, with 123 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 149 $18,715,000 $125,604 $754 6.34%
    30-36% 93 $11,305,000 $121,559 $985 6.59%
    <20% 71 $7,425,000 $104,577 $799 6.37%
    40% 33 $3,845,000 $116,515 $744 6.36%
    42% 28 $2,620,000 $93,571 $572 6.72%
    38% 24 $2,760,000 $115,000 $434 6.25%
    39% 22 $2,920,000 $132,727 $1,033 6.44%
    37% 22 $3,700,000 $168,182 $1,489 6.28%
    36% 19 $2,835,000 $149,211 $627 6.37%
    41% 17 $1,565,000 $92,059 $150 6.35%
    43% 6 $920,000 $153,333 $1,860 6.75%
    44% 4 $750,000 $187,500 $150 7.06%
    45% 4 $500,000 $125,000 $150 7.06%
    46% 2 $290,000 $145,000 $150 6.25%
    >60% 2 $80,000 $40,000 $150 5.74%
    49% 1 $25,000 $25,000 $0 7.75%
    48% 1 $505,000 $505,000 $0 7.75%

    Merck Sharp & Dohme Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 149 originations. The next most common DTI ratio? 30-36%, with 93 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 403 $48,795,000 $121,079 $939 6.44%
    Not provided 50 $7,230,000 $144,600 $1,638 6.54%
    Asian 21 $3,295,000 $156,905 $150 6.36%
    Black 29 $2,255,000 $77,759 $150 6.49%
    Asian Indian 5 $1,335,000 $267,000 $2,314 6.72%
    Not applicable 7 $765,000 $109,286 $150 7.21%
    American Indian 3 $605,000 $201,667 $3,656 6.83%
    Other Pacific Islander 1 $225,000 $225,000 $150 6.49%

    Approval Rates

    Total approvals of all applications
    94.78%

    Merck Sharp & Dohme Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.99%

    Merck Sharp & Dohme Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 519 $64,505,000 $124,287

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    519 $64,505,000 $124,287

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 122 $17,640,000 $144,590 $208 6.74%
    40-60% 39 $10,605,000 $271,923 $3,150 6.87%
    60-80% 24 $8,590,000 $357,917 $5,692 6.76%
    80-100% 15 $4,525,000 $301,667 $5,790 6.47%
    Over 100% 1 $75,000 $75,000 $0 9.50%
    Under 20% 309 $20,345,000 $65,841 $149 6.27%