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

LUTHERVILLE TIMONIUM, MD

LEI: 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 Refi, Cash Out 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, Hagerstown, and Philadelphia 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.

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
Home Equity Line of Credit (HELOC) 5.85% 3/28/24
30 Year Conventional Purchase 6.33% 3/28/24
30 Year Conventional Refi 6.31% 3/28/24
30 Year Cash-out Refi 6.47% 3/28/24
30 Year FHA Purchase 7.07% 3/28/24
30 Year FHA Refi 7.11% 3/28/24
30 Year VA Purchase 6.29% 3/28/24
30 Year USDA Purchase 6.62% 3/28/24
15 Year Conventional Purchase 5.72% 3/28/24
15 Year Conventional Refi 5.86% 3/28/24
15 Year Cash-out Refi 5.86% 3/28/24
15 Year FHA Purchase 6.67% 3/28/24
15 Year FHA Refi 6.09% 3/28/24
15 Year VA Refi 6.01% 3/28/24
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.

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

5,064

Origination Dollar Volume (All Markets)

$1,044,960,000

Awards

STATE EMPLOYEES CREDIT UNION OF MARYLAND INCORPORATED FHA Loans gold STATE EMPLOYEES CREDIT UNION OF MARYLAND INCORPORATED FHA Loans gold STATE EMPLOYEES CREDIT UNION OF MARYLAND INCORPORATED 30 Year Conventional Loans bronze STATE EMPLOYEES CREDIT UNION OF MARYLAND INCORPORATED 30 Year Conventional Loans silver
Show all (4) 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) 3,005 $596,855,000 $198,621 $3,915 2.89%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1,043 $279,175,000 $267,665 $5,293 2.88%
SALISBURY, MD-DE (FHA|USDA|VA) 447 $69,475,000 $155,425 $3,638 2.86%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 155 $21,845,000 $140,935 $3,826 2.74%
Outside of Metro Areas 94 $16,210,000 $172,447 $4,217 2.74%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 39 $15,705,000 $402,692 $8,585 2.79%
Easton, MD (FHA|USDA|VA) 49 $9,615,000 $196,224 $4,120 2.79%
Cambridge, MD (FHA|USDA|VA) 55 $7,965,000 $144,818 $3,395 2.82%
CUMBERLAND, MD-WV (FHA|USDA|VA) 65 $6,525,000 $100,385 $3,122 2.76%
YORK-HANOVER, PA (FHA|USDA|VA) 38 $5,860,000 $154,211 $4,408 2.98%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 15 $2,745,000 $183,000 $3,773 3.01%
RICHMOND, VA (FHA|USDA|VA) 8 $2,250,000 $281,250 $5,780 2.92%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 13 $1,895,000 $145,769 $3,938 2.48%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 6 $1,850,000 $308,333 $4,002 2.41%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $1,590,000 $795,000 $6,607 2.69%
GETTYSBURG, PA (FHA|USDA|VA) 9 $1,235,000 $137,222 $4,710 2.96%
PITTSBURGH, PA (FHA|USDA|VA) 3 $1,075,000 $358,333 $5,305 2.79%
WINCHESTER, VA-WV (FHA|USDA|VA) 3 $815,000 $271,667 $3,627 2.58%
LANCASTER, PA (FHA|USDA|VA) 2 $480,000 $240,000 $4,716 3.06%
READING, PA (FHA|USDA|VA) 1 $275,000 $275,000 $4,256 2.13%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $255,000 $255,000 $4,983 2.88%
DOVER, DE (FHA|USDA|VA) 1 $255,000 $255,000 $5,549 3.13%
Somerset, PA (FHA|USDA|VA) 2 $200,000 $100,000 $3,181 2.94%
Danville, VA (FHA|USDA|VA) 1 $165,000 $165,000 $3,048 3.25%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $155,000 $155,000 $2,688 2.75%
HARRISONBURG, VA (FHA|USDA|VA) 1 $145,000 $145,000 $3,117 2.88%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $125,000 $125,000 $3,875 3.88%
Lewisburg, PA (FHA|USDA|VA) 1 $105,000 $105,000 $3,146 2.38%
MORGANTOWN, WV (FHA|USDA|VA) 1 $55,000 $55,000 $2,611 2.38%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $45,000 $45,000 $0 1.99%
JOHNSTOWN, PA (FHA|USDA|VA) 1 $15,000 $15,000 $0 3.75%
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)
  • Pennsylvania (FHA|USDA|VA)
  • Delaware (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.

    Standard Bank, PaSB
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,048 $845,400,000 $277,362 $4,219 2.78%
    HELOC 1,908 $173,150,000 $90,749 n/a 3.02%
    FHA 104 $25,440,000 $244,615 $3,368 2.99%
    VA 4 $970,000 $242,500 $6,551 2.69%

    For 2021, State Employees Credit Union Of Maryland Incorporated's most frequently originated type of loan was Conventional, with 3,048 originations. Their 2nd most popular type was HELOC, with 1,908 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 1,504 $127,890,000 $85,033 $0 2.94%
    Refi 1,420 $355,890,000 $250,627 $3,550 2.66%
    Cash Out Refi 1,370 $312,770,000 $228,299 $4,340 2.94%
    Home Purchase 719 $244,045,000 $339,423 $5,280 2.99%
    Home Improvement 51 $4,365,000 $85,588 $0 3.34%

    For 2021, State Employees Credit Union Of Maryland Incorporated's most frequently cited loan purpose was Other, with 1,504 originations. The 2nd most popular reason was Refi, with 1,420 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 2,830 $364,760,000 $128,890 $3,325 2.86%
    30 Year 1,659 $561,215,000 $338,285 $5,010 3.07%
    10 Year 384 $72,300,000 $188,281 $2,918 2.01%
    20 Year 187 $44,575,000 $238,369 $3,802 3.03%
    5 Year 4 $2,110,000 $527,500 $0 4.11%

    For 2021, State Employees Credit Union Of Maryland Incorporated's most frequently cited loan duration was 15 Year, with 2,830 originations. The 2nd most popular length was 30 Year, with 1,659 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,654 $408,410,000 $246,923
    $1k-2k 728 $155,030,000 $212,953
    $2k-3k 292 $76,890,000 $263,322
    $5k+ 270 $166,770,000 $617,667
    $3k-4k 116 $31,960,000 $275,517
    $4k-5k 83 $26,325,000 $317,169

    State Employees Credit Union Of Maryland Incorporated's average total fees were $5,010, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,654 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,079 $344,085,000 $165,505
    <2.5% 1,763 $300,955,000 $170,706
    2.5-3% 1,180 $391,770,000 $332,008
    5-6% 31 $2,965,000 $95,645
    4-5% 9 $4,555,000 $506,111

    During 2021, State Employees Credit Union Of Maryland Incorporated's average interest rate for loans was 3.07%, while their most frequently originated rate bucket for loans was 3-4%, with 2,079 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,532 $84,440,000 $55,117 $2,843 2.96%
    $100k-200k 1,517 $219,305,000 $144,565 $3,150 2.81%
    $200k-400k 1,495 $404,355,000 $270,472 $4,025 2.84%
    $400k-600k 282 $135,980,000 $482,199 $5,391 2.95%
    $600k-1MM 194 $146,320,000 $754,227 $9,027 2.82%
    $1MM+ 44 $54,560,000 $1,240,000 $14,692 2.72%

    2021 saw State Employees Credit Union Of Maryland Incorporated place emphasis on $100,000 or less loans with 1,532 originations, totaling $84,440,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,311 $241,835,000 $184,466 $4,014 2.85%
    $150k-250k 1,153 $285,945,000 $248,001 $4,713 2.85%
    $75k-100k 892 $143,310,000 $160,661 $3,570 2.89%
    $50k-75k 854 $122,920,000 $143,934 $3,345 2.91%
    $250k+ 498 $205,930,000 $413,514 $7,377 2.80%
    $50k or less 339 $38,265,000 $112,876 $3,211 2.96%

    State Employees Credit Union Of Maryland Incorporated lent most frequently to those with incomes in the $100k-150k range, with 1,311 originations. The second most popular income band? $150k-250k, with 1,153 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,489 $297,885,000 $200,057 $4,077 2.84%
    30-36% 954 $183,850,000 $192,715 $4,309 2.90%
    <20% 785 $151,845,000 $193,433 $3,825 2.78%
    39% 187 $36,555,000 $195,481 $4,720 2.98%
    36% 179 $36,685,000 $204,944 $4,140 2.94%
    37% 164 $32,270,000 $196,768 $4,402 2.89%
    38% 158 $34,650,000 $219,304 $4,984 2.92%
    40% 155 $33,115,000 $213,645 $4,735 2.97%
    44% 146 $30,810,000 $211,027 $4,475 2.95%
    42% 134 $37,170,000 $277,388 $5,161 2.88%
    41% 132 $29,570,000 $224,015 $4,280 2.78%
    43% 131 $30,185,000 $230,420 $4,665 2.91%
    45% 114 $23,070,000 $202,368 $4,048 3.03%
    46% 65 $15,845,000 $243,769 $3,577 2.87%
    47% 56 $14,750,000 $263,393 $3,866 2.91%
    49% 56 $12,410,000 $221,607 $3,777 2.92%
    48% 45 $11,175,000 $248,333 $3,719 2.87%
    50-60% 31 $7,035,000 $226,935 $4,111 3.00%
    >60% 6 $3,080,000 $513,333 $4,241 2.64%

    State Employees Credit Union Of Maryland Incorporated lent most frequently to those with DTI ratios of 20-30%, with 1,489 originations. The next most common DTI ratio? 30-36%, with 954 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,536 $502,220,000 $198,036 $4,172 2.85%
    Not provided 1,176 $263,160,000 $223,776 $3,989 2.86%
    Black 1,008 $176,770,000 $175,367 $4,061 2.94%
    Asian 303 $91,015,000 $300,380 $5,811 2.80%
    Not applicable 11 $4,855,000 $441,364 $0 4.68%
    American Indian 20 $3,330,000 $166,500 $3,332 3.06%
    Native Hawaiian or Islander 5 $1,355,000 $271,000 $7,234 3.10%
    Other Asian 1 $885,000 $885,000 $32,434 2.00%
    Asian Indian 1 $835,000 $835,000 $15,054 2.88%
    Korean 2 $310,000 $155,000 $3,618 2.75%
    Native Hawaiian 1 $225,000 $225,000 $3,191 3.13%

    Approval Rates

    Total approvals of all applications
    69.56%

    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
    71.17%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,064 $1,044,960,000 $206,351

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    5,064 $1,044,960,000 $206,351

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 909 $127,595,000 $140,369 $2,948 2.77%
    40-60% 844 $186,340,000 $220,782 $3,328 2.68%
    60-80% 1,333 $400,295,000 $300,296 $4,657 2.92%
    80-100% 729 $241,395,000 $331,132 $4,934 2.98%
    Over 100% 2 $630,000 $315,000 $3,829 3.13%
    Under 20% 1,183 $72,125,000 $60,968 $2,545 2.96%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    STATE EMPLOYEES CREDIT UNION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 18.2%
    STATE EMPLOYEES CREDIT UNION Conventional home mortgage Closing on a mortgage 2 18.2%
    STATE EMPLOYEES CREDIT UNION Conventional home mortgage Struggling to pay mortgage 2 18.2%
    STATE EMPLOYEES CREDIT UNION Conventional home mortgage Trouble during payment process 1 9.1%
    STATE EMPLOYEES CREDIT UNION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 9.1%
    STATE EMPLOYEES CREDIT UNION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 9.1%
    STATE EMPLOYEES CREDIT UNION Other type of mortgage Closing on a mortgage 1 9.1%
    STATE EMPLOYEES CREDIT UNION Other type of mortgage Trouble during payment process 1 9.1%