State Employees Credit Union Of Maryland Incorporated Mortgage Rates, Fees & Info
LUTHERVILLE TIMONIUM, MDLEI: 549300AY1W8F91VLTB05
Tax ID: 52-0627114
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Mortgage Data
Review & Overview
State Employees Credit Union Of Maryland Incorporated is a small credit union specializing in Cash Out Refi, Refi, 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, Philadelphia, and Hagerstown among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)State Employees Credit Union Of Maryland Incorporated has an 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% | 11/21/24 |
| 30 Year Conventional Purchase | 6.33% | 11/21/24 |
| 30 Year Conventional Refi | 6.31% | 11/21/24 |
| 30 Year Cash-out Refi | 6.47% | 11/21/24 |
| 30 Year FHA Purchase | 7.07% | 11/21/24 |
| 30 Year FHA Refi | 7.11% | 11/21/24 |
| 30 Year VA Purchase | 6.29% | 11/21/24 |
| 30 Year USDA Purchase | 6.62% | 11/21/24 |
| 15 Year Conventional Purchase | 5.72% | 11/21/24 |
| 15 Year Conventional Refi | 5.86% | 11/21/24 |
| 15 Year Cash-out Refi | 5.86% | 11/21/24 |
| 15 Year FHA Purchase | 6.67% | 11/21/24 |
| 15 Year FHA Refi | 6.09% | 11/21/24 |
| 15 Year VA Refi | 6.01% | 11/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
4,297Origination Dollar Volume (All Markets)
$1,064,165,000Awards
STATE EMPLOYEES CREDIT UNION OF MARYLAND INCORPORATED - 2020
STATE EMPLOYEES CREDIT UNION OF MARYLAND INCORPORATED is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 2,492 | $546,860,000 | $219,446 | $3,712 | 3.20% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1,018 | $384,170,000 | $377,377 | $4,411 | 3.16% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 322 | $48,910,000 | $151,894 | $3,503 | 3.23% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 58 | $21,710,000 | $374,310 | $5,078 | 3.37% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 131 | $20,245,000 | $154,542 | $3,751 | 3.07% |
| Outside of Metro Areas | 62 | $9,560,000 | $154,194 | $3,671 | 3.05% |
| Easton, MD (FHA|USDA|VA) | 40 | $7,310,000 | $182,750 | $3,347 | 3.25% |
| Cambridge, MD (FHA|USDA|VA) | 34 | $4,210,000 | $123,824 | $3,777 | 3.37% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 56 | $3,970,000 | $70,893 | $3,415 | 3.12% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 13 | $3,595,000 | $276,538 | $3,752 | 3.33% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 20 | $3,240,000 | $162,000 | $4,324 | 3.13% |
| RICHMOND, VA (FHA|USDA|VA) | 10 | $3,130,000 | $313,000 | $3,336 | 3.14% |
| PITTSBURGH, PA (FHA|USDA|VA) | 6 | $1,470,000 | $245,000 | $4,395 | 3.35% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 10 | $1,420,000 | $142,000 | $5,129 | 3.23% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 3 | $1,135,000 | $378,333 | $4,083 | 2.87% |
| GETTYSBURG, PA (FHA|USDA|VA) | 7 | $1,065,000 | $152,143 | $4,292 | 2.87% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $6,594 | 4.00% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $6,929 | 2.88% |
| Somerset, PA (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $2,727 | 2.94% |
| Clarksburg, WV (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,650 | 3.25% |
| DOVER, DE (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,292 | 2.25% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $5,448 | 2.88% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,718 | 3.25% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,473 | 2.88% |
| Fairmont, WV (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,976 | 2.38% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,556 | 2.25% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.25% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 3.50% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 2.49% |
Their top states include:
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Product Mix
For 2020, State Employees Credit Union Of Maryland Incorporated's most frequently originated type of loan was Conventional, with 2,529 originations. Their 2nd most popular type was HELOC, with 1,689 originations.
Loan Reason
For 2020, State Employees Credit Union Of Maryland Incorporated's most frequently cited loan purpose was Other, with 1,444 originations. The 2nd most popular reason was Cash Out Refi, with 1,079 originations.
Loan Duration/Length
For 2020, State Employees Credit Union Of Maryland Incorporated's most frequently cited loan duration was 15 Year, with 2,229 originations. The 2nd most popular length was 30 Year, with 1,656 originations.
Origination Fees/Closing Costs
State Employees Credit Union Of Maryland Incorporated's average total fees were $4,230, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,475 originations.
Interest Rates
During 2020, State Employees Credit Union Of Maryland Incorporated's average interest rate for loans was 3.35%, while their most frequently originated rate bucket for loans was 3-4%, with 2,274 originations.
Loan Sizing
2020 saw State Employees Credit Union Of Maryland Incorporated place emphasis on $100,000 or less loans with 1,447 originations, totaling $74,555,000 in origination value.
Applicant Income
State Employees Credit Union Of Maryland Incorporated lent most frequently to those with incomes in the $100k-150k range, with 1,080 originations. The second most popular income band? $150k-250k, with 1,003 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 1,252 originations. The next most common DTI ratio? 30-36%, with 792 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications73.33%
State Employees Credit Union Of Maryland Incorporated has a below average approval rate.
Pick Rate
Approvals leading to origination65.07%
State Employees Credit Union Of Maryland Incorporated has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 4,297 | $1,064,165,000 | $247,653 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| STATE EMPLOYEES CREDIT UNION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 22.2% |
| STATE EMPLOYEES CREDIT UNION | Conventional home mortgage | Struggling to pay mortgage | 3 | 33.3% |
| STATE EMPLOYEES CREDIT UNION | Conventional home mortgage | Trouble during payment process | 2 | 22.2% |
| STATE EMPLOYEES CREDIT UNION | Other type of mortgage | Closing on a mortgage | 2 | 22.2% |