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

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  • 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 loans. Merck Sharp & Dohme Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Allentown, New York, Reading, and Lancaster among others. We have data for 6 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 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

    347

    Origination Dollar Volume (All Markets)

    $54,405,000

    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 123 $28,825,000 $234,350 $5,361 2.87%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 202 $23,590,000 $116,782 $150 3.17%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 13 $1,125,000 $86,538 $150 3.11%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 6 $640,000 $106,667 $150 3.24%
    READING, PA (FHA|USDA|VA) 2 $130,000 $65,000 $150 2.99%
    LANCASTER, PA (FHA|USDA|VA) 1 $95,000 $95,000 $150 2.99%
    Merck Sharp & Dohme Federal Credit Union's top markets include Philadelphia, Allentown, New York, Reading, and Lancaster among others.

    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.

    Louviers Federal Credit Union
    Similarity Rank: 410
    BHCU
    Similarity Rank: 504
    Columbia Bank
    Similarity Rank: 1105
    FEDERATED LENDING CORPORATION
    Similarity Rank: 1448
    AmeriServ Financial Bank
    Similarity Rank: 1505
    MILLENIUM HOME MORTGAGE, LLC
    Similarity Rank: 2052
    Dover Federal Credit Union
    Similarity Rank: 2208
    Penn Community Bank
    Similarity Rank: 2431
    SOUTH JERSEY
    Similarity Rank: 2450
    PINNACLE MORTGAGE, INC.
    Similarity Rank: 2603

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 347 $54,405,000 $156,787 $2,037 3.06%

    For 2021, Merck Sharp & Dohme Federal Credit Union's most frequently originated type of loan was Conventional, with 347 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 136 $22,280,000 $163,824 $1,073 3.09%
    Home Improvement 90 $7,080,000 $78,667 $189 3.06%
    Other 57 $8,975,000 $157,456 $2,668 2.93%
    Home Purchase 32 $8,850,000 $276,563 $6,357 3.19%
    Cash Out Refi 32 $7,220,000 $225,625 $6,906 3.07%

    For 2021, Merck Sharp & Dohme Federal Credit Union's most frequently cited loan purpose was Refi, with 136 originations. The 2nd most popular reason was Home Improvement, with 90 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 168 $25,700,000 $152,976 $919 3.10%
    10 Year 60 $6,640,000 $110,667 $769 3.16%
    30 Year 50 $14,780,000 $295,600 $7,062 2.97%
    5 Year 29 $1,165,000 $40,172 $150 2.96%
    Other 22 $1,610,000 $73,182 $150 3.04%
    20 Year 18 $4,510,000 $250,556 $6,533 2.82%

    For 2021, Merck Sharp & Dohme Federal Credit Union's most frequently cited loan duration was 15 Year, with 168 originations. The 2nd most popular length was 10 Year, with 60 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 23 $4,025,000 $175,000
    $2k-3k 21 $4,005,000 $190,714
    $5k+ 20 $7,520,000 $376,000
    $3k-4k 17 $4,345,000 $255,588
    $<1k 15 $3,495,000 $233,000
    $4k-5k 8 $2,190,000 $273,750

    Merck Sharp & Dohme Federal Credit Union's average total fees were $7,062, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 23 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 245 $35,165,000 $143,531
    3-4% 60 $12,340,000 $205,667
    <2.5% 31 $5,415,000 $174,677
    4-5% 8 $1,220,000 $152,500
    5-6% 3 $265,000 $88,333

    During 2021, Merck Sharp & Dohme Federal Credit Union's average interest rate for loans was 2.97%, while their most frequently originated rate bucket for loans was 2.5-3%, with 245 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 137 $7,595,000 $55,438 $238 3.13%
    $100k-200k 103 $14,865,000 $144,320 $1,785 2.98%
    $200k-400k 94 $24,890,000 $264,787 $4,239 3.00%
    $400k-600k 9 $4,155,000 $461,667 $8,983 3.40%
    $600k-1MM 4 $2,900,000 $725,000 $10,444 3.22%

    2021 saw Merck Sharp & Dohme Federal Credit Union place emphasis on $100,000 or less loans with 137 originations, totaling $7,595,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 101 $14,975,000 $148,267 $2,585 2.93%
    $150k-250k 96 $15,760,000 $164,167 $2,018 3.03%
    $250k+ 40 $8,170,000 $204,250 $1,352 3.04%
    $75k-100k 38 $5,020,000 $132,105 $1,708 2.97%
    $50k-75k 34 $4,050,000 $119,118 $2,445 2.94%
    $50k or less 11 $815,000 $74,091 $776 2.99%

    Merck Sharp & Dohme Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 101 originations. The second most popular income band? $150k-250k, with 96 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 95 $15,115,000 $159,105 $2,216 2.91%
    30-36% 71 $10,095,000 $142,183 $1,789 2.99%
    <20% 69 $9,795,000 $141,957 $1,503 2.88%
    40% 13 $1,815,000 $139,615 $2,111 3.15%
    37% 13 $2,525,000 $194,231 $3,052 3.01%
    38% 10 $1,350,000 $135,000 $1,296 3.14%
    41% 7 $695,000 $99,286 $639 3.01%
    42% 6 $720,000 $120,000 $1,274 3.14%
    36% 6 $1,160,000 $193,333 $4,153 3.01%
    43% 6 $760,000 $126,667 $150 2.99%
    39% 5 $835,000 $167,000 $3,843 3.17%
    44% 3 $675,000 $225,000 $3,822 2.87%
    45% 3 $795,000 $265,000 $5,901 3.16%
    >60% 3 $185,000 $61,667 $150 3.16%
    49% 3 $555,000 $185,000 $3,662 2.79%
    47% 2 $310,000 $155,000 $2,429 3.00%
    48% 1 $115,000 $115,000 $150 2.99%
    46% 1 $165,000 $165,000 $150 2.99%
    50-60% 1 $305,000 $305,000 $9,677 2.63%

    Merck Sharp & Dohme Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 95 originations. The next most common DTI ratio? 30-36%, with 71 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 265 $39,695,000 $149,792 $2,081 2.99%
    Not provided 30 $5,440,000 $181,333 $2,255 3.00%
    Not applicable 18 $4,270,000 $237,222 $150 4.43%
    Black 14 $2,150,000 $153,571 $2,795 2.82%
    Asian 12 $1,350,000 $112,500 $150 3.03%
    Asian Indian 5 $555,000 $111,000 $150 2.99%
    Vietnamese 1 $375,000 $375,000 $8,161 2.50%
    Filipino 1 $355,000 $355,000 $150 2.99%
    American Indian 1 $215,000 $215,000 $3,403 3.13%

    Approval Rates

    Total approvals of all applications
    95.63%

    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
    87.32%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 347 $54,405,000 $156,787

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    347 $54,405,000 $156,787

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 83 $11,325,000 $136,446 $767 3.01%
    40-60% 54 $10,520,000 $194,815 $2,586 2.95%
    60-80% 65 $18,095,000 $278,385 $5,678 3.19%
    80-100% 26 $7,440,000 $286,154 $6,019 3.22%
    Under 20% 115 $6,235,000 $54,217 $150 3.06%