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 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 an above 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% 4/28/24
    30 Year Conventional Refi 6.21% 4/28/24
    30 Year Cash-out Refi 6.38% 4/28/24
    15 Year Conventional Purchase 5.89% 4/28/24
    15 Year Conventional Refi 5.60% 4/28/24
    15 Year Cash-out Refi 5.60% 4/28/24
    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

    276

    Origination Dollar Volume (All Markets)

    $34,230,000

    Awards

    MERCK SHARP & DOHME FEDERAL CREDIT UNION 30 Year Conventional Loans gold MERCK SHARP & DOHME FEDERAL CREDIT UNION 30 Year Conventional Loans silver
    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 276 $34,230,000 $124,022 $1,497 1.53%
    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.

    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 122
    Prudential Bank
    Similarity Rank: 162
    CREDIT UNION OF NEW JERSEY
    Similarity Rank: 180
    Columbia Bank
    Similarity Rank: 440
    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 528
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 678
    Hamilton National Mortgage Company
    Similarity Rank: 774
    County Savings Bank
    Similarity Rank: 780
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 1026
    PINNACLE MORTGAGE, INC.
    Similarity Rank: 1176

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 276 $34,230,000 $124,022 $1,497 1.53%

    For 2019, Merck Sharp & Dohme Federal Credit Union's most frequently originated type of loan was Conventional, with 276 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 111 $5,605,000 $50,495 $206 0.18%
    Refi 86 $10,110,000 $117,558 $721 0.86%
    Home Purchase 48 $12,010,000 $250,208 $4,430 4.15%
    Cash Out Refi 31 $6,505,000 $209,839 $5,096 4.12%

    For 2019, Merck Sharp & Dohme Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 111 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 84 $10,360,000 $123,333 $1,117 1.59%
    5 Year 64 $3,070,000 $47,969 $205 0.19%
    30 Year 55 $14,995,000 $272,636 $4,610 3.93%
    10 Year 39 $3,955,000 $101,410 $622 1.08%
    Other 31 $1,285,000 $41,452 $208 0.23%
    20 Year 3 $565,000 $188,333 $4,337 3.92%

    For 2019, Merck Sharp & Dohme Federal Credit Union's most frequently cited loan duration was 15 Year, with 84 originations. The 2nd most popular length was 5 Year, with 64 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 222 $23,810,000 $107,252
    $2k-3k 10 $2,350,000 $235,000
    $1k-2k 8 $1,340,000 $167,500
    $3k-4k 6 $1,820,000 $303,333
    $4k-5k 2 $630,000 $315,000
    $5k+ 1 $265,000 $265,000

    Merck Sharp & Dohme Federal Credit Union's average total fees were $4,610, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 222 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 176 $11,460,000 $65,114
    3-4% 53 $13,475,000 $254,245
    4-5% 24 $5,860,000 $244,167
    5-6% 19 $2,755,000 $145,000
    2.5-3% 3 $655,000 $218,333

    During 2019, Merck Sharp & Dohme Federal Credit Union's average interest rate for loans was 3.93%, while their most frequently originated rate bucket for loans was <2.5%, with 176 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 154 $6,820,000 $44,286 $248 0.48%
    $100k-200k 62 $8,840,000 $142,581 $1,857 2.30%
    $200k-400k 49 $13,545,000 $276,429 $4,143 3.25%
    $400k-600k 11 $5,025,000 $456,818 $5,493 4.15%

    2019 saw Merck Sharp & Dohme Federal Credit Union place emphasis on $100,000 or less loans with 154 originations, totaling $6,820,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 97 $13,805,000 $142,320 $1,661 1.20%
    $100k-150k 64 $6,360,000 $99,375 $1,114 0.90%
    $50k-75k 37 $5,115,000 $138,243 $2,253 2.36%
    $75k-100k 32 $2,720,000 $85,000 $993 1.14%
    $50k or less 21 $2,075,000 $98,810 $1,474 2.34%
    $250k+ 15 $2,925,000 $195,000 $1,412 1.28%

    Merck Sharp & Dohme Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 97 originations. The second most popular income band? $100k-150k, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 24 $5,960,000 $248,333 $4,376 3.77%
    30-36% 15 $3,955,000 $263,667 $4,624 3.97%
    <20% 13 $3,475,000 $267,308 $4,476 3.18%
    49% 3 $885,000 $295,000 $4,754 4.21%
    38% 3 $905,000 $301,667 $4,353 3.92%
    40% 3 $645,000 $215,000 $4,800 3.83%
    48% 2 $460,000 $230,000 $4,066 3.94%
    42% 2 $560,000 $280,000 $4,046 3.94%
    43% 2 $530,000 $265,000 $5,730 3.69%
    39% 2 $420,000 $210,000 $4,602 3.94%
    41% 2 $340,000 $170,000 $3,521 3.88%
    36% 1 $225,000 $225,000 $3,725 4.75%
    37% 1 $405,000 $405,000 $4,816 3.88%
    46% 1 $355,000 $355,000 $5,772 3.38%

    Merck Sharp & Dohme Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 15 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 212 $25,210,000 $118,915 $1,432 1.33%
    Not provided 23 $3,055,000 $132,826 $2,007 1.76%
    Black 17 $1,835,000 $107,941 $845 1.35%
    Not applicable 10 $1,230,000 $123,000 $0 5.59%
    Asian 5 $885,000 $177,000 $2,092 1.55%
    Chinese 3 $745,000 $248,333 $2,139 1.19%
    Asian Indian 2 $600,000 $300,000 $5,992 3.56%
    Other Asian 2 $310,000 $155,000 $208 0.04%
    Vietnamese 1 $205,000 $205,000 $3,531 3.75%
    Korean 1 $155,000 $155,000 $208 0.05%

    Approval Rates

    Total approvals of all applications
    92.64%

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

    Pick Rate

    Approvals leading to origination
    90.94%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 276 $34,230,000 $124,022

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $585,000 $195,000
    Single Family (1-4 Units):Site-Built 273 $33,645,000 $123,242

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 43 $4,775,000 $111,047 $453 0.82%
    40-60% 23 $3,935,000 $171,087 $2,161 2.09%
    60-80% 48 $12,100,000 $252,083 $4,542 4.01%
    80-100% 32 $8,130,000 $254,063 $4,558 4.07%
    Under 20% 130 $5,290,000 $40,692 $206 0.12%