State Employees Credit Union Of Maryland Incorporated Mortgage Rates, Fees & Info

LUTHERVILLE TIMONIUM, MD

LEI: 549300AY1W8F91VLTB05

Tax ID: 52-0627114

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
  • Complaints
  • 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

    State Employees Credit Union Of Maryland Incorporated is a smaller credit union specializing in Other and Home Purchase 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.) Their top markets by origination volume include: Baltimore, Washington, Salisbury, Hagerstown, and Philadelphia among others. We have data for 23 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 5.85% 11/17/24
    30 Year Conventional Purchase 6.33% 11/17/24
    30 Year Conventional Refi 6.31% 11/17/24
    30 Year Cash-out Refi 6.47% 11/17/24
    30 Year FHA Purchase 7.07% 11/17/24
    30 Year FHA Refi 7.11% 11/17/24
    30 Year VA Purchase 6.29% 11/17/24
    30 Year USDA Purchase 6.62% 11/17/24
    15 Year Conventional Purchase 5.72% 11/17/24
    15 Year Conventional Refi 5.86% 11/17/24
    15 Year Cash-out Refi 5.86% 11/17/24
    15 Year FHA Purchase 6.67% 11/17/24
    15 Year FHA Refi 6.09% 11/17/24
    15 Year VA Refi 6.01% 11/17/24
    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.

    State Employees Credit Union Of Maryland Incorporated Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from State Employees Credit Union Of Maryland Incorporated. 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

    3,614

    Origination Dollar Volume (All Markets)

    $605,200,000
    Show all (13) 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
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2,077 $279,055,000 $134,355 $3,774 3.53%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 886 $254,370,000 $287,099 $4,208 3.57%
    SALISBURY, MD-DE (FHA|USDA|VA) 271 $30,635,000 $113,044 $3,719 3.80%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 100 $9,150,000 $91,500 $3,309 3.68%
    Outside of Metro Areas 62 $6,360,000 $102,581 $3,572 3.40%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 21 $4,945,000 $235,476 $4,588 4.11%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 56 $4,080,000 $72,857 $3,484 3.53%
    Easton, MD (FHA|USDA|VA) 31 $3,615,000 $116,613 $3,535 3.55%
    YORK-HANOVER, PA (FHA|USDA|VA) 29 $2,435,000 $83,966 $3,528 3.43%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 14 $2,050,000 $146,429 $4,005 3.85%
    Cambridge, MD (FHA|USDA|VA) 25 $1,915,000 $76,600 $2,869 3.98%
    PITTSBURGH, PA (FHA|USDA|VA) 6 $1,460,000 $243,333 $4,430 3.46%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 13 $1,385,000 $106,538 $3,301 3.38%
    WINCHESTER, VA-WV (FHA|USDA|VA) 3 $795,000 $265,000 $3,583 3.58%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $755,000 $251,667 $3,016 4.21%
    DOVER, DE (FHA|USDA|VA) 4 $460,000 $115,000 $4,344 3.31%
    LANCASTER, PA (FHA|USDA|VA) 2 $400,000 $200,000 $3,802 4.38%
    GETTYSBURG, PA (FHA|USDA|VA) 6 $390,000 $65,000 $3,290 3.33%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $325,000 $325,000 $3,996 3.00%
    RICHMOND, VA (FHA|USDA|VA) 1 $265,000 $265,000 $3,004 3.25%
    ROANOKE, VA (FHA|USDA|VA) 1 $165,000 $165,000 $2,323 3.75%
    Somerset, PA (FHA|USDA|VA) 1 $165,000 $165,000 $5,922 4.75%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $25,000 $25,000 $0 2.24%
    State Employees Credit Union Of Maryland Incorporated's top markets include Baltimore, Washington, Salisbury, Hagerstown, and Philadelphia among others.

    Their top states include:
  • Maryland (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)

    • Similar Lenders

    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.

    CHESSIE
    Similarity Rank: 30
    APL
    Similarity Rank: 32
    FIRST PEOPLES COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 36
    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 54
    Iron Workers Savings Bank
    Similarity Rank: 63
    DOMINION ENERGY CREDIT UNION
    Similarity Rank: 108
    Haddon Savings Bank
    Similarity Rank: 116
    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 126
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 126
    Columbia Bank
    Similarity Rank: 136

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 2,224 $154,000,000 $69,245 n/a 3.28%
    Conventional 1,277 $429,595,000 $336,410 $3,921 4.00%
    FHA 113 $21,605,000 $191,195 $3,429 4.48%

    For 2018, State Employees Credit Union Of Maryland Incorporated's most frequently originated type of loan was HELOC, with 2,224 originations. Their 2nd most popular type was Conventional, with 1,277 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 1,641 $189,565,000 $115,518 $3,609 3.35%
    Home Purchase 894 $265,980,000 $297,517 $4,156 4.18%
    Cash Out Refi 871 $110,595,000 $126,975 $3,487 3.26%
    Refi 165 $37,305,000 $226,091 $3,443 3.93%
    Home Improvement 43 $1,755,000 $40,814 $0 4.26%

    For 2018, State Employees Credit Union Of Maryland Incorporated's most frequently cited loan purpose was Other, with 1,641 originations. The 2nd most popular reason was Home Purchase, with 894 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 2,330 $170,110,000 $73,009 $3,442 3.31%
    30 Year 1,191 $417,245,000 $350,332 $3,969 4.04%
    10 Year 55 $7,365,000 $133,909 $2,971 3.63%
    20 Year 29 $5,055,000 $174,310 $3,511 4.59%
    Other 9 $5,425,000 $602,778 $5,427 5.00%

    For 2018, State Employees Credit Union Of Maryland Incorporated's most frequently cited loan duration was 15 Year, with 2,330 originations. The 2nd most popular length was 30 Year, with 1,191 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 728 $265,080,000 $364,121
    $1k-2k 387 $89,135,000 $230,323
    $2k-3k 165 $50,055,000 $303,364
    $3k-4k 52 $19,190,000 $369,038
    $4k-5k 25 $10,205,000 $408,200
    $5k+ 23 $11,875,000 $516,304

    State Employees Credit Union Of Maryland Incorporated's average total fees were $3,969, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 728 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 984 $157,270,000 $159,827
    <2.5% 821 $54,515,000 $66,401
    3-4% 796 $300,970,000 $378,103
    2.5-3% 774 $73,630,000 $95,129
    5-6% 189 $12,925,000 $68,386
    6-7% 37 $2,675,000 $72,297
    7-8% 8 $380,000 $47,500

    During 2018, State Employees Credit Union Of Maryland Incorporated's average interest rate for loans was 4.04%, while their most frequently originated rate bucket for loans was 4-5%, with 984 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,924 $87,720,000 $45,593 $2,714 3.42%
    $100k-200k 696 $98,170,000 $141,049 $3,284 3.70%
    $200k-400k 598 $162,650,000 $271,990 $4,032 3.77%
    $400k-600k 241 $116,795,000 $484,627 $4,204 3.77%
    $600k-1MM 127 $91,855,000 $723,268 $5,222 3.72%
    $1MM+ 28 $48,010,000 $1,714,643 $7,504 3.82%

    2018 saw State Employees Credit Union Of Maryland Incorporated place emphasis on $100,000 or less loans with 1,924 originations, totaling $87,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 873 $139,655,000 $159,971 $3,939 3.52%
    $150k-250k 733 $176,885,000 $241,317 $4,384 3.33%
    $50k-75k 718 $69,020,000 $96,128 $3,342 3.71%
    $75k-100k 640 $74,750,000 $116,797 $3,543 3.61%
    $50k or less 387 $31,175,000 $80,556 $3,030 3.89%
    $250k+ 252 $108,480,000 $430,476 $5,285 3.41%

    State Employees Credit Union Of Maryland Incorporated lent most frequently to those with incomes in the $100k-150k range, with 873 originations. The second most popular income band? $150k-250k, with 733 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 904 $139,290,000 $154,082 $3,898 3.47%
    30-36% 670 $109,430,000 $163,328 $3,860 3.61%
    <20% 383 $50,505,000 $131,867 $3,518 3.37%
    43% 141 $23,675,000 $167,908 $3,787 3.51%
    44% 139 $23,525,000 $169,245 $3,783 3.61%
    39% 137 $22,485,000 $164,124 $3,926 3.73%
    40% 137 $36,545,000 $266,752 $3,868 3.67%
    36% 136 $28,710,000 $211,103 $4,024 3.76%
    38% 135 $23,525,000 $174,259 $3,856 3.71%
    42% 127 $27,345,000 $215,315 $4,018 3.50%
    45% 126 $18,670,000 $148,175 $3,951 3.74%
    37% 124 $19,490,000 $157,177 $3,731 3.68%
    41% 123 $23,105,000 $187,846 $4,069 3.66%
    47% 75 $14,095,000 $187,933 $4,284 3.49%
    50-60% 64 $10,540,000 $164,688 $3,811 3.76%
    46% 60 $10,120,000 $168,667 $4,061 3.68%
    48% 59 $8,225,000 $139,407 $4,262 3.48%
    49% 58 $9,710,000 $167,414 $4,164 3.67%
    >60% 5 $475,000 $95,000 $0 3.95%

    State Employees Credit Union Of Maryland Incorporated lent most frequently to those with DTI ratios of 20-30%, with 904 originations. The next most common DTI ratio? 30-36%, with 670 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,999 $313,855,000 $157,006 $3,828 3.42%
    Not provided 713 $135,825,000 $190,498 $4,044 3.82%
    Asian 282 $81,040,000 $287,376 $3,907 3.48%
    Black 585 $67,205,000 $114,880 $3,689 3.83%
    American Indian 11 $2,955,000 $268,636 $5,295 3.52%
    Not applicable 4 $2,160,000 $540,000 $0 5.27%
    Native Hawaiian or Islander 10 $1,120,000 $112,000 $3,653 3.38%
    Chinese 1 $205,000 $205,000 $0 2.74%
    Korean 1 $205,000 $205,000 $3,201 4.00%
    Other Asian 1 $185,000 $185,000 $0 2.99%
    Guamanian 1 $115,000 $115,000 $0 2.49%
    Other Pacific Islander 1 $105,000 $105,000 $0 2.99%
    Japanese 1 $85,000 $85,000 $2,599 4.38%
    Asian Indian 2 $80,000 $40,000 $0 4.12%
    Vietnamese 1 $35,000 $35,000 $0 2.74%
    Filipino 1 $25,000 $25,000 $0 2.49%

    Approval Rates

    Total approvals of all applications
    61.73%

    State Employees Credit Union Of Maryland Incorporated has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    77.31%

    State Employees Credit Union Of Maryland Incorporated has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 7 $345,000 $49,286
    NA 3,607 $604,855,000 $167,689

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $2,975,000 $991,667
    Single Family (1-4 Units):Manufactured 5 $475,000 $95,000
    Single Family (1-4 Units):Site-Built 3,606 $601,750,000 $166,875

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 681 $68,135,000 $100,051 $2,839 3.32%
    40-60% 306 $62,990,000 $205,850 $3,196 3.67%
    60-80% 643 $216,255,000 $336,322 $3,980 3.93%
    80-100% 586 $192,610,000 $328,686 $4,147 4.09%
    Over 100% 1 $125,000 $125,000 $3,251 4.50%
    Under 20% 1,393 $61,615,000 $44,232 $2,617 3.28%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    STATE EMPLOYEES CREDIT UNION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 50.0%
    STATE EMPLOYEES CREDIT UNION Conventional home mortgage Struggling to pay mortgage 2 50.0%