Midatlantic Farm Credit Aca Mortgage Rates, Fees & Info

Westminster, MD

LEI: 549300IYR2K45YQJGV33

Tax ID: 52-2240353

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
  • 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

    Midatlantic Farm Credit Aca is a smaller mortgage company specializing in Home Purchase loans. Midatlantic Farm Credit Aca has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Washington, Lancaster, Hagerstown, Philadelphia, and Salisbury among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Midatlantic Farm Credit Aca 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. Midatlantic Farm Credit Aca 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 relatively high 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 7.25% 11/21/24
    30 Year Conventional Refi 7.69% 11/21/24
    30 Year Cash-out Refi 6.27% 11/21/24
    15 Year Conventional Purchase 6.90% 11/21/24
    15 Year Conventional Refi 7.48% 11/21/24
    15 Year Cash-out Refi 7.48% 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.

    Midatlantic Farm Credit Aca Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Midatlantic Farm Credit Aca. 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

    126

    Origination Dollar Volume (All Markets)

    $28,210,000

    Awards

    MidAtlantic Farm Credit ACA 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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 18 $6,370,000 $353,889 $4,069 5.47%
    LANCASTER, PA (FHA|USDA|VA) 18 $5,510,000 $306,111 $4,754 5.67%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 23 $3,215,000 $139,783 $2,205 5.29%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 9 $2,715,000 $301,667 $3,642 5.33%
    SALISBURY, MD-DE (FHA|USDA|VA) 18 $2,320,000 $128,889 $2,679 5.57%
    Outside of Metro Areas 10 $1,840,000 $184,000 $2,953 5.45%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 4 $1,430,000 $357,500 $4,704 5.31%
    LEBANON, PA (FHA|USDA|VA) 8 $1,320,000 $165,000 $3,000 5.06%
    DOVER, DE (FHA|USDA|VA) 6 $1,160,000 $193,333 $3,185 5.33%
    Cambridge, MD (FHA|USDA|VA) 4 $880,000 $220,000 $3,920 5.94%
    READING, PA (FHA|USDA|VA) 2 $480,000 $240,000 $3,957 5.13%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $350,000 $175,000 $4,572 5.38%
    Easton, MD (FHA|USDA|VA) 1 $225,000 $225,000 $3,592 5.75%
    WINCHESTER, VA-WV (FHA|USDA|VA) 2 $210,000 $105,000 $2,555 5.38%
    Pottsville, PA (FHA|USDA|VA) 1 $185,000 $185,000 $3,734 6.00%
    Midatlantic Farm Credit Aca's top markets include Washington, Lancaster, Hagerstown, Philadelphia, and Salisbury among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against MidAtlantic Farm Credit ACA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    TRI BORO
    Similarity Rank: 70
    PATRIOT
    Similarity Rank: 96
    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 122
    Prudential Bank
    Similarity Rank: 162
    American Financial Mortgage Corporation
    Similarity Rank: 172
    CREDIT UNION OF NEW JERSEY
    Similarity Rank: 180
    Calvin B. Taylor Banking Company of Berlin, Maryland
    Similarity Rank: 204
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 210
    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 218
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 237

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 124 $28,020,000 $225,968 $3,437 5.44%
    USDA 2 $190,000 $95,000 $2,687 5.63%

    For 2019, Midatlantic Farm Credit Aca's most frequently originated type of loan was Conventional, with 124 originations. Their 2nd most popular type was USDA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 82 $19,700,000 $240,244 $3,941 5.54%
    Home Improvement 21 $3,125,000 $148,810 $2,355 5.17%
    Refi 18 $4,720,000 $262,222 $2,809 5.43%
    Other 5 $665,000 $133,000 $2,382 5.10%

    For 2019, Midatlantic Farm Credit Aca's most frequently cited loan purpose was Home Purchase, with 82 originations. The 2nd most popular reason was Home Improvement, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 61 $17,275,000 $283,197 $4,074 5.58%
    Other 26 $2,920,000 $112,308 $1,731 5.20%
    15 Year 19 $4,765,000 $250,789 $3,823 5.41%
    20 Year 16 $3,010,000 $188,125 $3,652 5.45%
    10 Year 2 $190,000 $95,000 $1,949 4.88%
    5 Year 2 $50,000 $25,000 $446 5.25%

    For 2019, Midatlantic Farm Credit Aca's most frequently cited loan duration was 30 Year, with 61 originations. The 2nd most popular length was Other, with 26 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 67 $15,205,000 $226,940
    $<1k 39 $6,125,000 $157,051
    $2k-3k 13 $6,345,000 $488,077

    Midatlantic Farm Credit Aca's average total fees were $4,074, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 67 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 85 $20,315,000 $239,000
    4-5% 32 $5,590,000 $174,688
    6-7% 9 $2,305,000 $256,111

    During 2019, Midatlantic Farm Credit Aca's average interest rate for loans was 5.58%, while their most frequently originated rate bucket for loans was 5-6%, with 85 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 51 $14,645,000 $287,157 $4,106 5.54%
    $100,000 or less 31 $1,825,000 $58,871 $1,643 5.30%
    $100k-200k 31 $4,365,000 $140,806 $2,911 5.37%
    $400k-600k 8 $3,710,000 $463,750 $5,366 5.47%
    $600k-1MM 5 $3,665,000 $733,000 $5,855 5.75%

    2019 saw Midatlantic Farm Credit Aca place emphasis on $200k-400k loans with 51 originations, totaling $14,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 36 $10,090,000 $280,278 $3,595 5.34%
    $100k-150k 26 $5,250,000 $201,923 $3,143 5.52%
    $150k-250k 21 $6,395,000 $304,524 $3,956 5.51%
    $50k-75k 19 $3,125,000 $164,474 $3,126 5.46%
    $50k or less 12 $1,260,000 $105,000 $2,993 5.31%
    $75k-100k 10 $1,930,000 $193,000 $3,451 5.55%

    Midatlantic Farm Credit Aca lent most frequently to those with incomes in the $250k+ range, with 36 originations. The second most popular income band? $100k-150k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 23 $4,325,000 $188,043 $3,277 5.41%
    30-36% 20 $4,010,000 $200,500 $3,270 5.43%
    39% 8 $2,130,000 $266,250 $3,505 5.47%
    <20% 8 $2,460,000 $307,500 $3,920 5.50%
    38% 7 $1,365,000 $195,000 $3,281 5.39%
    36% 3 $285,000 $95,000 $2,145 5.17%
    44% 1 $335,000 $335,000 $5,325 5.25%
    37% 1 $195,000 $195,000 $3,986 5.25%
    41% 1 $225,000 $225,000 $1,911 5.00%

    Midatlantic Farm Credit Aca lent most frequently to those with DTI ratios of 20-30%, with 23 originations. The next most common DTI ratio? 30-36%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 114 $25,520,000 $223,860 $3,414 5.44%
    Not provided 8 $2,080,000 $260,000 $3,506 5.38%
    Black 1 $385,000 $385,000 $3,912 5.25%
    Not applicable 2 $160,000 $80,000 $0 5.83%
    Native Hawaiian or Islander 1 $65,000 $65,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    70.03%

    Midatlantic Farm Credit Aca has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    42.86%

    Midatlantic Farm Credit Aca 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 126 $28,210,000 $223,889

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $820,000 $102,500
    Single Family (1-4 Units):Site-Built 118 $27,390,000 $232,119

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $2,425,000 $127,632 $2,667 5.32%
    40-60% 23 $6,655,000 $289,348 $3,662 5.54%
    60-80% 51 $12,825,000 $251,471 $3,971 5.49%
    80-100% 18 $5,110,000 $283,889 $4,405 5.61%
    Under 20% 15 $1,195,000 $79,667 $886 5.10%