San Mateo Credit Union Mortgage Rates, Fees & Info
Redwood City, CALEI: 549300QNPOF1WCRKLZ94
Tax ID: 94-1231186
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Overview
San Mateo Credit Union is a smaller credit union specializing in Other and Cash Out Refi loans. San Mateo Credit Union has a high proportion of conventional loans. Their top markets include San Francisco, San Jose, Sacramento, Stockton, and Vallejo among others. San Mateo Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. San Mateo Credit Union is typically an average fee lendor.Originations
617Origination Dollar Volume (All Markets)
$344,725,000Awards
San Mateo Credit Union - 2021
San Mateo Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for San Mateo Credit Union?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
San Mateo Credit Union's average 30 year fixed rate mortgage of loans were
2.93%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.22%.
Relative Fees
San Mateo Credit Union's average total fees for a 30 year fixed rate
mortgage are $3,695.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 476 | $281,420,000 | $591,218 | $3,422 | 2.94% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 35 | $23,945,000 | $684,143 | $3,622 | 2.97% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 19 | $8,045,000 | $423,421 | $3,956 | 2.88% |
| STOCKTON, CA (FHA|USDA|VA) | 16 | $5,710,000 | $356,875 | $3,134 | 2.91% |
| VALLEJO, CA (FHA|USDA|VA) | 12 | $4,460,000 | $371,667 | $3,006 | 2.99% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 6 | $3,890,000 | $648,333 | $2,090 | 3.23% |
| MODESTO, CA (FHA|USDA|VA) | 9 | $2,855,000 | $317,222 | $3,030 | 3.15% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 6 | $2,320,000 | $386,667 | $3,134 | 3.15% |
| MERCED, CA (FHA|USDA|VA) | 7 | $2,055,000 | $293,571 | $3,458 | 2.84% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 4 | $1,790,000 | $447,500 | $2,361 | 2.69% |
| Outside of Metro Areas | 6 | $1,490,000 | $248,333 | $1,741 | 2.83% |
| NAPA, CA (FHA|USDA|VA) | 3 | $1,425,000 | $475,000 | $3,488 | 3.04% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 2 | $990,000 | $495,000 | $723 | 2.94% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $3,700 | 2.94% |
| CHICO, CA (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $4,031 | 2.88% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $3,158 | 3.38% |
| YUBA CITY, CA (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $2,474 | 2.81% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 3.13% |
| Crescent City, CA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $6,521 | 2.81% |
| MADERA, CA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,837 | 2.75% |
| REDDING, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,172 | 3.25% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,380 | 3.25% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,879 | 3.25% |
San Mateo Credit Union's top markets include San Francisco, San Jose, Sacramento, Stockton, and Vallejo among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 617 | $344,725,000 | $558,712 | $3,385 | 2.94% |
For the 2021 period, San Mateo Credit Union's most frequently originated loan type of loans were Conventional, with 617 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 161 | $81,625,000 | $506,988 | $3,181 | 2.95% |
| Cash Out Refi | 159 | $105,475,000 | $663,365 | $4,068 | 2.87% |
| Refi | 137 | $64,595,000 | $471,496 | $2,068 | 2.79% |
| Home Purchase | 90 | $60,230,000 | $669,222 | $4,910 | 2.99% |
| Home Improvement | 70 | $32,800,000 | $468,571 | $2,923 | 3.36% |
For the 2021, San Mateo Credit Union's most frequently cited loan purpose of loans were Other, with 161 originations. The 2nd most popular reason of loans were Cash Out Refi, with 159 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 482 | $300,560,000 | $623,568 | $3,695 | 2.93% |
| 15 Year | 91 | $27,995,000 | $307,637 | $2,112 | 2.93% |
| 20 Year | 19 | $6,525,000 | $343,421 | $2,219 | 3.09% |
| 10 Year | 12 | $2,530,000 | $210,833 | $1,441 | 3.43% |
| 30+ year | 7 | $6,215,000 | $887,857 | $5,795 | 2.88% |
| Other | 5 | $865,000 | $173,000 | $0 | 3.25% |
| 5 Year | 1 | $35,000 | $35,000 | $0 | 4.00% |
For the 2021, San Mateo Credit Union's most frequently cited loan length of loans were 30 Year, with 482 originations. The 2nd most popular length of loans were 15 Year, with 91 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 415 | $219,665,000 | $529,313 |
| $1k-2k | 74 | $47,000,000 | $635,135 |
| $3k-4k | 42 | $21,870,000 | $520,714 |
| $5k+ | 41 | $30,275,000 | $738,415 |
| $2k-3k | 36 | $22,150,000 | $615,278 |
$3,695 of loans were San Mateo Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 415 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 355 | $218,895,000 | $616,606 |
| 3-4% | 138 | $70,460,000 | $510,580 |
| <2.5% | 102 | $53,400,000 | $523,529 |
| 4-5% | 13 | $1,195,000 | $91,923 |
| 5-6% | 9 | $775,000 | $86,111 |
During 2021, San Mateo Credit Union's average interest rate of loans were 2.93%, while their most frequently originated rate bucket of loans were 2.5-3%, with 355 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 159 | $47,075,000 | $296,069 | $2,881 | 2.88% |
| $400k-600k | 158 | $77,080,000 | $487,848 | $3,048 | 2.90% |
| $600k-1MM | 158 | $125,090,000 | $791,709 | $4,312 | 2.88% |
| $1MM+ | 70 | $86,040,000 | $1,229,143 | $5,214 | 2.86% |
| $100k-200k | 57 | $8,635,000 | $151,491 | $1,666 | 3.06% |
| $100,000 or less | 15 | $805,000 | $53,667 | $156 | 4.77% |
2021 saw San Mateo Credit Union place emphasis on $200k-400k loans with 159 originations, totaling $47,075,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 197 | $128,985,000 | $654,746 | $3,481 | 3.02% |
| $100k-150k | 158 | $69,820,000 | $441,899 | $2,907 | 2.98% |
| $250k+ | 119 | $99,465,000 | $835,840 | $4,857 | 2.84% |
| $75k-100k | 68 | $26,310,000 | $386,912 | $2,803 | 2.90% |
| $50k-75k | 53 | $14,695,000 | $277,264 | $2,535 | 2.87% |
| $50k or less | 21 | $5,095,000 | $242,619 | $1,954 | 2.90% |
San Mateo Credit Union lent most frequently to those with incomes in the $150k-250k range, with 197 originations. The second most popular income band? $100k-150k, with 158 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 146 | $78,770,000 | $539,521 | $3,202 | 2.92% |
| 30-36% | 120 | $75,380,000 | $628,167 | $3,882 | 2.87% |
| <20% | 54 | $21,950,000 | $406,481 | $3,358 | 2.83% |
| 41% | 30 | $15,140,000 | $504,667 | $2,574 | 3.07% |
| 42% | 27 | $19,195,000 | $710,926 | $4,084 | 2.90% |
| 44% | 25 | $15,095,000 | $603,800 | $2,660 | 2.97% |
| 49% | 24 | $11,630,000 | $484,583 | $2,448 | 3.05% |
| 40% | 24 | $11,890,000 | $495,417 | $2,985 | 3.02% |
| 47% | 24 | $14,710,000 | $612,917 | $4,592 | 3.13% |
| 43% | 22 | $12,030,000 | $546,818 | $2,721 | 3.07% |
| 36% | 20 | $11,210,000 | $560,500 | $2,345 | 3.14% |
| 39% | 19 | $10,605,000 | $558,158 | $3,586 | 2.86% |
| 46% | 18 | $10,290,000 | $571,667 | $3,699 | 2.82% |
| 37% | 17 | $10,305,000 | $606,176 | $4,555 | 2.98% |
| 48% | 14 | $7,480,000 | $534,286 | $4,016 | 2.96% |
| 38% | 11 | $4,755,000 | $432,273 | $2,607 | 2.85% |
| 45% | 11 | $5,475,000 | $497,727 | $2,148 | 3.35% |
| 50-60% | 9 | $7,635,000 | $848,333 | $5,031 | 2.92% |
| >60% | 2 | $1,180,000 | $590,000 | $2,050 | 2.63% |
San Mateo Credit Union lent most frequently to those with DTI ratios of 20-30%, with 146 originations. The next most common DTI ratio? 30-36%, with 120 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 266 | $143,040,000 | $537,744 | $3,256 | 2.95% |
| Not provided | 233 | $125,585,000 | $538,991 | $3,191 | 2.93% |
| Asian | 76 | $48,600,000 | $639,474 | $3,535 | 3.01% |
| Filipino | 8 | $5,840,000 | $730,000 | $7,252 | 2.91% |
| Black | 11 | $5,805,000 | $527,727 | $5,320 | 2.76% |
| Asian Indian | 5 | $5,105,000 | $1,021,000 | $4,130 | 2.80% |
| Native Hawaiian | 7 | $3,745,000 | $535,000 | $5,315 | 2.89% |
| Other Pacific Islander | 4 | $1,630,000 | $407,500 | $2,014 | 3.00% |
| American Indian | 3 | $1,625,000 | $541,667 | $2,237 | 2.46% |
| Korean | 1 | $1,505,000 | $1,505,000 | $12,660 | 2.75% |
| Chinese | 1 | $1,445,000 | $1,445,000 | $4,946 | 2.88% |
| Native Hawiian | 2 | $800,000 | $400,000 | $1,188 | 4.06% |
Approval Rates
Total approvals of all applications77.96%
San Mateo Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination44.74%
San Mateo Credit Union 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 | 617 | $344,725,000 | $558,712 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 617 | $344,725,000 | $558,712 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 129 | $62,245,000 | $482,519 | $2,827 | 2.86% |
| 40-60% | 135 | $84,935,000 | $629,148 | $3,575 | 2.87% |
| 60-80% | 150 | $118,390,000 | $789,267 | $4,407 | 2.91% |
| 80-100% | 55 | $42,625,000 | $775,000 | $5,177 | 2.94% |
| Under 20% | 73 | $13,945,000 | $191,027 | $1,511 | 3.45% |
