State Employees Credit Union Of Maryland Incorporated Mortgage Rates, Fees & InfoLUTHERVILLE TIMONIUM, MD
Tax ID: 52-0627114
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewState Employees Credit Union Of Maryland Incorporated is a smaller credit union specializing in Other, Home Purchase, and Cash Out Refi loans. State Employees Credit Union Of Maryland Incorporated has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Baltimore, Washington, Salisbury, Philadelphia, and Hagerstown among others. We have data for 31 markets. (Some data included below & more in-depth data is available with an active subscription.)
State Employees Credit Union Of Maryland Incorporated has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. State Employees Credit Union Of Maryland Incorporated 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.
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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||5.85%||12/4/23|
|30 Year Conventional Purchase||6.33%||12/4/23|
|30 Year Conventional Refi||6.31%||12/4/23|
|30 Year Cash-out Refi||6.47%||12/4/23|
|30 Year FHA Purchase||7.07%||12/4/23|
|30 Year FHA Refi||7.11%||12/4/23|
|30 Year VA Purchase||6.29%||12/4/23|
|30 Year USDA Purchase||6.62%||12/4/23|
|15 Year Conventional Purchase||5.72%||12/4/23|
|15 Year Conventional Refi||5.86%||12/4/23|
|15 Year Cash-out Refi||5.86%||12/4/23|
|15 Year FHA Purchase||6.67%||12/4/23|
|15 Year FHA Refi||6.09%||12/4/23|
|15 Year VA Refi||6.01%||12/4/23|
|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.|
State Employees Credit Union Of Maryland Incorporated Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$972,330,000
STATE EMPLOYEES CREDIT UNION OF MARYLAND INCORPORATED - 2022
STATE EMPLOYEES CREDIT UNION OF MARYLAND INCORPORATED is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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State Employees Credit Union Of Maryland Incorporated's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.39%.
Relative Fees (Closing Costs)
State Employees Credit Union Of Maryland Incorporated's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,776.
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 $4,750.
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|
|BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA)||2,572||$471,790,000||$183,433||$4,857||3.89%|
|Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA)||1,099||$347,505,000||$316,201||$8,919||4.00%|
|SALISBURY, MD-DE (FHA|USDA|VA)||367||$53,955,000||$147,016||$4,831||3.92%|
|Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA)||60||$21,450,000||$357,500||$9,886||4.51%|
|HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA)||135||$17,785,000||$131,741||$4,063||3.80%|
|Outside of Metro Areas||76||$14,210,000||$186,974||$5,299||4.11%|
|Easton, MD (FHA|USDA|VA)||32||$7,490,000||$234,063||$5,437||3.66%|
|RICHMOND, VA (FHA|USDA|VA)||14||$6,560,000||$468,571||$8,998||5.15%|
|YORK-HANOVER, PA (FHA|USDA|VA)||33||$5,965,000||$180,758||$5,098||3.90%|
|Cambridge, MD (FHA|USDA|VA)||40||$4,730,000||$118,250||$3,754||4.38%|
|CUMBERLAND, MD-WV (FHA|USDA|VA)||54||$4,710,000||$87,222||$3,659||3.58%|
|VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA)||11||$3,365,000||$305,909||$7,370||4.43%|
|CHARLOTTESVILLE, VA (FHA|USDA|VA)||4||$2,700,000||$675,000||$12,957||3.75%|
|DOVER, DE (FHA|USDA|VA)||10||$1,890,000||$189,000||$4,435||4.36%|
|ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA)||3||$1,505,000||$501,667||$12,004||5.75%|
|CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA)||7||$1,045,000||$149,286||$2,876||4.25%|
|CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA)||8||$970,000||$121,250||$3,864||4.06%|
|GETTYSBURG, PA (FHA|USDA|VA)||4||$950,000||$237,500||$14,335||3.84%|
|HARRISBURG-CARLISLE, PA (FHA|USDA|VA)||5||$785,000||$157,000||$7,804||4.60%|
|ROANOKE, VA (FHA|USDA|VA)||1||$595,000||$595,000||$12,166||4.38%|
|WINCHESTER, VA-WV (FHA|USDA|VA)||4||$430,000||$107,500||$7,184||4.19%|
|Lewisburg, PA (FHA|USDA|VA)||1||$345,000||$345,000||$8,917||3.00%|
|MORGANTOWN, WV (FHA|USDA|VA)||1||$345,000||$345,000||$5,250||5.75%|
|HARRISONBURG, VA (FHA|USDA|VA)||1||$275,000||$275,000||$2,983||3.88%|
|EAST STROUDSBURG, PA (FHA|USDA|VA)||1||$225,000||$225,000||$6,865||5.00%|
|SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA)||1||$195,000||$195,000||$8,715||4.25%|
|PITTSBURGH, PA (FHA|USDA|VA)||2||$190,000||$95,000||$3,870||4.31%|
|Somerset, PA (FHA|USDA|VA)||3||$165,000||$55,000||$3,593||2.54%|
|KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA)||1||$115,000||$115,000||$4,051||6.13%|
|LEBANON, PA (FHA|USDA|VA)||1||$75,000||$75,000||$0||3.50%|
|Fairmont, WV (FHA|USDA|VA)||1||$15,000||$15,000||$0||6.50%|
Their top states include:
We use machine learning to identify the top lenders compared against STATE EMPLOYEES CREDIT UNION OF MARYLAND INCORPORATED based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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For 2022, State Employees Credit Union Of Maryland Incorporated's most frequently originated type of loan was HELOC, with 2,663 originations. Their 2nd most popular type was Conventional, with 1,759 originations.
For 2022, State Employees Credit Union Of Maryland Incorporated's most frequently cited loan purpose was Other, with 2,134 originations. The 2nd most popular reason was Home Purchase, with 1,039 originations.
For 2022, State Employees Credit Union Of Maryland Incorporated's most frequently cited loan duration was 15 Year, with 2,903 originations. The 2nd most popular length was 30 Year, with 1,470 originations.
Origination Fees/Closing Costs
State Employees Credit Union Of Maryland Incorporated's average total fees were $6,776, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 694 originations.
During 2022, State Employees Credit Union Of Maryland Incorporated's average interest rate for loans was 4.37%, while their most frequently originated rate bucket for loans was 3-4%, with 1,585 originations.
2022 saw State Employees Credit Union Of Maryland Incorporated place emphasis on $100,000 or less loans with 1,839 originations, totaling $99,525,000 in origination value.
State Employees Credit Union Of Maryland Incorporated lent most frequently to those with incomes in the $100k-150k range, with 1,190 originations. The second most popular income band? $150k-250k, with 1,167 originations.
Applicant Debt to Income Ratio
State Employees Credit Union Of Maryland Incorporated lent most frequently to those with DTI ratios of 20-30%, with 1,197 originations. The next most common DTI ratio? 30-36%, with 924 originations.
Approval RatesTotal approvals of all applications
State Employees Credit Union Of Maryland Incorporated has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick RateApprovals leading to origination
State Employees Credit Union Of Maryland Incorporated has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|