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

Chalfont, PA

LEI: 549300A4SPX2JOQ71791

Tax ID: 23-1433398

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

Jump to:

  • 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

    Merck Sharp & Dohme Federal Credit Union is a smaller credit union specializing in Home Improvement, Refi, and Home Purchase loans. Merck Sharp & Dohme Federal Credit Union has a high proportion of conventional loans.

    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 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
    30 Year Conventional Purchase 7.16% 11/21/24
    30 Year Conventional Refi 6.21% 11/21/24
    30 Year Cash-out Refi 6.38% 11/21/24
    15 Year Conventional Purchase 5.89% 11/21/24
    15 Year Conventional Refi 5.60% 11/21/24
    15 Year Cash-out Refi 5.60% 11/21/24
    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

    259

    Origination Dollar Volume (All Markets)

    $28,375,000

    Awards

    MERCK SHARP & DOHME FEDERAL CREDIT UNION 30 Year Conventional Loans silver MERCK SHARP & DOHME FEDERAL CREDIT UNION 30 Year Conventional Loans bronze
    Show all (2) 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
    Outside of Metro Areas 259 $28,375,000 $109,556 $4,334 1.06%
    Merck Sharp & Dohme Federal Credit Union's top markets include

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (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.

    Iron Workers Savings Bank
    Similarity Rank: 63
    Haddon Savings Bank
    Similarity Rank: 116
    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 126
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 135
    Columbia Bank
    Similarity Rank: 136
    WASHINGTON SAVINGS BANK
    Similarity Rank: 225
    COMMUNITY POWERED
    Similarity Rank: 228
    Penn Community Bank
    Similarity Rank: 576
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    ESSA Bank & Trust
    Similarity Rank: 710

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 259 $28,375,000 $109,556 $4,334 1.06%

    For 2018, Merck Sharp & Dohme Federal Credit Union's most frequently originated type of loan was Conventional, with 259 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 120 $7,290,000 $60,750 $150 0.04%
    Refi 86 $9,410,000 $109,419 $3,183 0.32%
    Home Purchase 30 $8,210,000 $273,667 $4,386 4.57%
    Cash Out Refi 23 $3,465,000 $150,652 $4,699 4.60%

    For 2018, Merck Sharp & Dohme Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 120 originations. The 2nd most popular reason was Refi, with 86 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 90 $10,990,000 $122,111 $6,264 0.77%
    5 Year 76 $3,600,000 $47,368 $150 0.03%
    30 Year 36 $8,930,000 $248,056 $4,405 4.38%
    Other 30 $2,050,000 $68,333 $0 0.37%
    10 Year 24 $2,250,000 $93,750 $2,952 0.86%
    20 Year 3 $555,000 $185,000 $3,425 4.38%

    For 2018, Merck Sharp & Dohme Federal Credit Union's most frequently cited loan duration was 15 Year, with 90 originations. The 2nd most popular length was 5 Year, with 76 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 117 $15,005,000 $128,248
    $1k-2k 4 $390,000 $97,500
    $2k-3k 4 $670,000 $167,500
    $3k-4k 3 $795,000 $265,000
    $5k+ 2 $510,000 $255,000
    $4k-5k 1 $205,000 $205,000

    Merck Sharp & Dohme Federal Credit Union's average total fees were $4,405, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 117 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 202 $15,650,000 $77,475
    4-5% 35 $8,375,000 $239,286
    5-6% 13 $1,985,000 $152,692
    3-4% 9 $2,365,000 $262,778

    During 2018, Merck Sharp & Dohme Federal Credit Union's average interest rate for loans was 4.38%, while their most frequently originated rate bucket for loans was <2.5%, with 202 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 161 $7,735,000 $48,043 $2,647 0.35%
    $100k-200k 57 $8,165,000 $143,246 $3,989 1.62%
    $200k-400k 35 $9,745,000 $278,429 $4,800 2.82%
    $400k-600k 6 $2,730,000 $455,000 $5,047 4.63%

    2018 saw Merck Sharp & Dohme Federal Credit Union place emphasis on $100,000 or less loans with 161 originations, totaling $7,735,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 81 $9,855,000 $121,667 $4,675 0.53%
    $100k-150k 80 $7,910,000 $98,875 $4,270 0.82%
    $75k-100k 31 $3,125,000 $100,806 $3,800 1.35%
    $50k-75k 26 $2,920,000 $112,308 $4,366 1.95%
    $250k+ 20 $2,110,000 $105,500 $4,871 0.53%
    $50k or less 11 $925,000 $84,091 $5,147 0.86%

    Merck Sharp & Dohme Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 81 originations. The second most popular income band? $100k-150k, with 80 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 206 $16,590,000 $80,534 $3,281 0.12%
    20-30% 12 $2,480,000 $206,667 $3,966 4.41%
    30-36% 6 $1,630,000 $271,667 $4,337 4.29%
    38% 3 $705,000 $235,000 $3,774 4.46%
    49% 2 $430,000 $215,000 $3,737 4.63%
    36% 2 $520,000 $260,000 $5,917 4.44%
    42% 2 $530,000 $265,000 $6,630 4.56%
    43% 2 $440,000 $220,000 $3,718 4.69%
    44% 2 $380,000 $190,000 $3,299 4.31%
    47% 2 $600,000 $300,000 $7,060 4.31%
    46% 1 $455,000 $455,000 $5,176 4.63%
    39% 1 $385,000 $385,000 $4,404 4.50%
    40% 1 $385,000 $385,000 $4,536 4.63%
    41% 1 $245,000 $245,000 $6,168 4.88%
    37% 1 $285,000 $285,000 $3,990 4.88%

    Merck Sharp & Dohme Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 206 originations. The next most common DTI ratio? 20-30%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 199 $21,515,000 $108,116 $4,326 0.98%
    Not provided 22 $2,020,000 $91,818 $3,088 0.25%
    Not applicable 11 $1,555,000 $141,364 $0 4.87%
    Black 13 $905,000 $69,615 $4,393 0.39%
    Chinese 2 $780,000 $390,000 $4,543 3.50%
    Other Asian 1 $455,000 $455,000 $5,292 4.75%
    Asian Indian 3 $425,000 $141,667 $4,416 1.36%
    Asian 3 $385,000 $128,333 $0 0.04%
    Vietnamese 2 $120,000 $60,000 $0 0.04%
    Filipino 2 $110,000 $55,000 $0 0.04%
    Korean 1 $105,000 $105,000 $0 0.03%

    Approval Rates

    Total approvals of all applications
    96.54%

    Merck Sharp & Dohme Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    81.85%

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

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 7 $835,000 $119,286
    NA 252 $27,540,000 $109,286

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $380,000 $190,000
    Single Family (1-4 Units):Site-Built 257 $27,995,000 $108,930

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 50 $5,180,000 $103,600 $2,741 0.47%
    40-60% 22 $3,570,000 $162,273 $3,407 0.47%
    60-80% 38 $8,480,000 $223,158 $4,918 3.74%
    80-100% 20 $5,040,000 $252,000 $4,353 4.43%
    Over 100% 1 $495,000 $495,000 $0 5.50%
    Under 20% 128 $5,610,000 $43,828 $0 0.04%