San Mateo Credit Union Mortgage Rates, Fees & InfoRedwood City, CA
Tax ID: 94-1231186
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewSan Mateo Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. San Mateo Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, San Jose, Stockton, Sacramento, and Los Angeles among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)
San Mateo Credit Union 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. San Mateo Credit Union 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.13%||3/30/23|
|30 Year Conventional Refi||6.16%||3/30/23|
|30 Year Cash-out Refi||6.22%||3/30/23|
|15 Year Conventional Purchase||5.61%||3/30/23|
|15 Year Conventional Refi||6.02%||3/30/23|
|15 Year Cash-out Refi||6.02%||3/30/23|
|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.|
Origination Dollar Volume (All Markets)$186,925,000
San Mateo Credit Union'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 -1.05%.
Relative Fees (Closing Costs)
San Mateo Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,474.
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|
|San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA)||210||$124,970,000||$595,095||$3,534||4.06%|
|SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA)||31||$32,665,000||$1,053,710||$4,158||4.10%|
|STOCKTON, CA (FHA|USDA|VA)||15||$5,955,000||$397,000||$2,874||4.50%|
|SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA)||18||$5,490,000||$305,000||$3,105||4.74%|
|Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA)||4||$3,600,000||$900,000||$6,754||3.88%|
|VALLEJO, CA (FHA|USDA|VA)||9||$2,745,000||$305,000||$3,759||4.94%|
|SANTA ROSA-PETALUMA, CA (FHA|USDA|VA)||5||$2,295,000||$459,000||$3,797||4.58%|
|NAPA, CA (FHA|USDA|VA)||2||$1,990,000||$995,000||$2,735||3.38%|
|OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA)||3||$1,535,000||$511,667||$5,273||4.79%|
|SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA)||2||$850,000||$425,000||$3,322||4.81%|
|SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA)||1||$825,000||$825,000||$2,411||4.38%|
|RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA)||2||$800,000||$400,000||$5,304||3.63%|
|Outside of Metro Areas||2||$670,000||$335,000||$2,194||3.13%|
|MODESTO, CA (FHA|USDA|VA)||2||$550,000||$275,000||$1,861||4.94%|
|Truckee-Grass Valley, CA (FHA|USDA|VA)||2||$530,000||$265,000||$3,882||4.75%|
|FRESNO, CA (FHA|USDA|VA)||3||$505,000||$168,333||$1,999||5.33%|
|YUBA CITY, CA (FHA|USDA|VA)||1||$345,000||$345,000||$2,803||4.63%|
|REDDING, CA (FHA|USDA|VA)||2||$280,000||$140,000||$4,634||3.88%|
|Crescent City, CA (FHA|USDA|VA)||1||$235,000||$235,000||$7,328||3.75%|
|MERCED, CA (FHA|USDA|VA)||2||$90,000||$45,000||$0||6.44%|
Their top states include:
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, San Mateo Credit Union's most frequently originated type of loan was Conventional, with 317 originations.
For 2022, San Mateo Credit Union's most frequently cited loan purpose was Home Purchase, with 119 originations. The 2nd most popular reason was Home Improvement, with 69 originations.
For 2022, San Mateo Credit Union's most frequently cited loan duration was 30 Year, with 215 originations. The 2nd most popular length was 15 Year, with 65 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
San Mateo Credit Union's average total fees were $4,474, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 250 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, San Mateo Credit Union's average interest rate for loans was 3.71%, while their most frequently originated rate bucket for loans was 3-4%, with 88 originations.
2022 saw San Mateo Credit Union place emphasis on $600k-1MM loans with 75 originations, totaling $58,205,000 in origination value.
San Mateo Credit Union lent most frequently to those with incomes in the $150k-250k range, with 110 originations. The second most popular income band? $250k+, with 82 originations.
Applicant Debt to Income Ratio
San Mateo Credit Union lent most frequently to those with DTI ratios of 30-36%, with 63 originations. The next most common DTI ratio? 20-30%, with 60 originations.
Approval RatesTotal approvals of all applications
San Mateo Credit Union has a below average approval rate.
Pick RateApprovals leading to origination
San Mateo Credit Union has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|