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 and Refi loans. Merck Sharp & Dohme Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, New York, Allentown, Reading, and Ocean City among others. We have data for 12 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% 11/22/24
    30 Year Conventional Refi 6.21% 11/22/24
    30 Year Cash-out Refi 6.38% 11/22/24
    15 Year Conventional Purchase 5.89% 11/22/24
    15 Year Conventional Refi 5.60% 11/22/24
    15 Year Cash-out Refi 5.60% 11/22/24
    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

    720

    Origination Dollar Volume (All Markets)

    $93,820,000

    Awards

    MERCK SHARP & DOHME FEDERAL CREDIT UNION 30 Year Conventional Loans bronze
    Show all (1) 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
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 534 $70,640,000 $132,285 $6,364 3.20%
    Outside of Metro Areas 121 $12,535,000 $103,595 $0 3.37%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 17 $2,945,000 $173,235 $13,884 2.95%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 17 $2,575,000 $151,471 $6,657 3.66%
    READING, PA (FHA|USDA|VA) 17 $2,555,000 $150,294 $9,428 4.10%
    OCEAN CITY, NJ (FHA|USDA|VA) 3 $1,055,000 $351,667 $9,096 4.66%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 4 $760,000 $190,000 $0 2.99%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 3 $325,000 $108,333 $4,895 3.87%
    LANCASTER, PA (FHA|USDA|VA) 1 $255,000 $255,000 $0 3.49%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $75,000 $75,000 $0 2.99%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $55,000 $55,000 $0 2.99%
    Pottsville, PA (FHA|USDA|VA) 1 $45,000 $45,000 $0 2.99%
    Merck Sharp & Dohme Federal Credit Union's top markets include Philadelphia, New York, Allentown, Reading, and Ocean City 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.

    Malvern Bank N.A.
    Similarity Rank: 441
    Penn Community Bank
    Similarity Rank: 572
    Investors Bank
    Similarity Rank: 630
    Columbia Bank
    Similarity Rank: 676
    Dover Federal Credit Union
    Similarity Rank: 756
    FEDERATED LENDING CORPORATION
    Similarity Rank: 880
    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 965
    BENCHMARK Federal Credit Union
    Similarity Rank: 1394
    Diamond Credit Union
    Similarity Rank: 1410
    SOUTH JERSEY
    Similarity Rank: 1503

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 372 $46,400,000 $124,731 $6,779 3.99%
    HELOC 348 $47,420,000 $136,264 n/a 2.49%

    For 2022, Merck Sharp & Dohme Federal Credit Union's most frequently originated type of loan was Conventional, with 372 originations. Their 2nd most popular type was HELOC, with 348 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 330 $33,720,000 $102,182 $150 3.08%
    Refi 207 $33,075,000 $159,783 $5,615 3.23%
    Other 133 $13,255,000 $99,662 $0 3.38%
    Cash Out Refi 19 $4,885,000 $257,105 $7,028 4.22%
    Home Purchase 16 $6,450,000 $403,125 $7,684 4.73%
    NA 15 $2,435,000 $162,333 $6,807 4.05%

    For 2022, Merck Sharp & Dohme Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 330 originations. The 2nd most popular reason was Refi, with 207 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 494 $67,110,000 $135,850 $5,685 2.97%
    10 Year 87 $8,295,000 $95,345 $6,740 4.14%
    Other 63 $6,655,000 $105,635 $0 3.65%
    5 Year 47 $3,045,000 $64,787 $0 3.47%
    30 Year 26 $8,220,000 $316,154 $7,232 4.50%
    3 Year 2 $270,000 $135,000 $0 4.88%
    20 Year 1 $225,000 $225,000 $3,892 3.25%

    For 2022, Merck Sharp & Dohme Federal Credit Union's most frequently cited loan duration was 15 Year, with 494 originations. The 2nd most popular length was 10 Year, with 87 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 330 $33,580,000 $101,758
    $5k+ 10 $3,680,000 $368,000
    $1k-2k 7 $1,425,000 $203,571
    $3k-4k 5 $1,465,000 $293,000
    $2k-3k 4 $1,250,000 $312,500
    $4k-5k 4 $1,950,000 $487,500

    Merck Sharp & Dohme Federal Credit Union's average total fees were $7,232, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 330 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 227 $32,245,000 $142,048
    2.5-3% 194 $22,950,000 $118,299
    3-4% 122 $14,020,000 $114,918
    4-5% 112 $14,500,000 $129,464
    5-6% 50 $8,080,000 $161,600
    6-7% 15 $2,025,000 $135,000

    During 2022, Merck Sharp & Dohme Federal Credit Union's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was <2.5%, with 227 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 352 $19,350,000 $54,972 $150 3.35%
    $100k-200k 214 $28,600,000 $133,645 $3,751 3.16%
    $200k-400k 130 $33,740,000 $259,538 $6,771 3.23%
    $400k-600k 21 $10,045,000 $478,333 $9,721 3.10%
    $600k-1MM 3 $2,085,000 $695,000 $7,466 4.17%

    2022 saw Merck Sharp & Dohme Federal Credit Union place emphasis on $100,000 or less loans with 352 originations, totaling $19,350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 238 $32,570,000 $136,849 $5,951 3.19%
    $100k-150k 203 $20,675,000 $101,847 $8,466 3.24%
    $250k+ 114 $22,460,000 $197,018 $8,668 3.30%
    $75k-100k 76 $7,930,000 $104,342 $4,169 3.22%
    $50k-75k 51 $4,455,000 $87,353 $7,373 3.31%
    $50k or less 12 $960,000 $80,000 $2,691 3.28%

    Merck Sharp & Dohme Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 238 originations. The second most popular income band? $100k-150k, with 203 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 233 $28,995,000 $124,442 $7,785 3.22%
    <20% 137 $17,325,000 $126,460 $4,767 3.07%
    30-36% 129 $17,635,000 $136,705 $8,040 3.22%
    40% 33 $4,775,000 $144,697 $5,741 3.41%
    39% 32 $2,880,000 $90,000 $4,997 3.25%
    38% 29 $3,405,000 $117,414 $5,215 3.34%
    41% 20 $2,420,000 $121,000 $4,384 3.72%
    37% 19 $2,875,000 $151,316 $7,381 3.34%
    36% 18 $1,990,000 $110,556 $14,234 3.46%
    42% 15 $1,835,000 $122,333 $5,177 3.20%
    43% 14 $1,770,000 $126,429 $0 2.88%
    44% 6 $830,000 $138,333 $10,538 2.68%
    >60% 4 $490,000 $122,500 $0 3.18%
    46% 2 $80,000 $40,000 $0 2.49%
    45% 2 $590,000 $295,000 $4,304 3.94%
    47% 1 $405,000 $405,000 $0 2.99%
    49% 1 $135,000 $135,000 $0 2.99%

    Merck Sharp & Dohme Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 233 originations. The next most common DTI ratio? <20%, with 137 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 534 $64,870,000 $121,479 $6,849 3.26%
    Not provided 73 $9,255,000 $126,781 $6,948 3.10%
    Asian 42 $7,730,000 $184,048 $4,682 2.96%
    Black 42 $5,660,000 $134,762 $6,108 3.49%
    Not applicable 16 $3,530,000 $220,625 $0 4.15%
    Asian Indian 10 $2,230,000 $223,000 $9,672 3.43%
    Vietnamese 1 $385,000 $385,000 $10,538 3.13%
    American Indian 1 $95,000 $95,000 $0 4.24%
    Filipino 1 $65,000 $65,000 $0 3.99%

    Approval Rates

    Total approvals of all applications
    93.38%

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

    Pick Rate

    Approvals leading to origination
    78.61%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 720 $93,820,000 $130,306

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    720 $93,820,000 $130,306

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 202 $30,300,000 $150,000 $4,525 3.16%
    40-60% 76 $17,920,000 $235,789 $5,251 3.18%
    60-80% 46 $14,310,000 $311,087 $7,974 3.48%
    80-100% 17 $5,665,000 $333,235 $8,048 4.02%
    Over 100% 2 $900,000 $450,000 $0 4.13%
    Under 20% 377 $24,725,000 $65,584 $150 3.27%