San Mateo Credit Union Mortgage Rates, Fees & Info

Redwood City, CA

LEI: 549300QNPOF1WCRKLZ94

Tax ID: 94-1231186

5 stars - Updated: 5/11/25 - out of 5 stars, based on 13 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    San Mateo Credit Union is a smaller credit union specializing in Home Purchase loans. San Mateo Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, San Jose, Stockton, Santa Rosa, and Oxnard among others. We have data for 18 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.16% 5/11/25
    30 Year Conventional Refi 5.77% 5/11/25
    30 Year Cash-out Refi 6.30% 5/11/25
    15 Year Conventional Purchase 6.00% 5/11/25
    15 Year Conventional Refi 6.42% 5/11/25
    15 Year Cash-out Refi 6.42% 5/11/25
    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.

    San Mateo Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from San Mateo Credit Union. 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

    178

    Origination Dollar Volume (All Markets)

    $102,130,000
    Show all (5) awards

    Relative Rate

    San Mateo Credit Union's average 30 year fixed mortgage rate was 6.33%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.22%.

    Relative Fees (Closing Costs)

    San Mateo Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,552.

    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 $8,356.

    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
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 125 $77,665,000 $621,320 $3,336 6.60%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 20 $16,170,000 $808,500 $2,494 6.61%
    STOCKTON, CA (FHA|USDA|VA) 4 $1,320,000 $330,000 $1,349 6.94%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $965,000 $965,000 $2,602 6.00%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $795,000 $795,000 $7,472 6.50%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 5 $755,000 $151,000 $424 6.83%
    VALLEJO, CA (FHA|USDA|VA) 5 $725,000 $145,000 $2,669 6.75%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 4 $690,000 $172,500 $817 7.19%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $640,000 $320,000 $609 6.88%
    MODESTO, CA (FHA|USDA|VA) 3 $415,000 $138,333 $1,506 7.17%
    Sonora, CA (FHA|USDA|VA) 1 $355,000 $355,000 $3,697 5.50%
    Clearlake, CA (FHA|USDA|VA) 1 $345,000 $345,000 $3,005 6.25%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $335,000 $335,000 $9,323 6.00%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $265,000 $265,000 $2,249 6.38%
    MERCED, CA (FHA|USDA|VA) 1 $195,000 $195,000 $7,691 7.13%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $165,000 $165,000 $0 7.25%
    Red Bluff, CA (FHA|USDA|VA) 1 $165,000 $165,000 $2,224 6.50%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $165,000 $165,000 $0 6.88%
    San Mateo Credit Union's top markets include San Francisco, San Jose, Stockton, Santa Rosa, and Oxnard among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • Similar Lenders

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

    SAN FRANCISCO FEDERAL CREDIT UNION
    Similarity Rank: 336
    SACRAMENTO Credit Union
    Similarity Rank: 336
    Provident Savings Bank, F.S.B.
    Similarity Rank: 864
    Shea Mortgage Inc.
    Similarity Rank: 968
    San Mateo Credit Union
    Similarity Rank: 1386
    MERIWEST MORTGAGE COMPANY, LLC
    Similarity Rank: 1520
    Mechanics Bank
    Similarity Rank: 2117
    NATIONAL COOPERATIVE BANK, N.A.
    Similarity Rank: 2244
    UNCLE Credit Union
    Similarity Rank: 2451
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 2880

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 178 $102,130,000 $573,764 $3,005 6.63%

    For 2024, San Mateo Credit Union's most frequently originated type of loan was Conventional, with 178 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 80 $75,780,000 $947,250 $5,198 6.29%
    Home Improvement 54 $11,610,000 $215,000 $691 7.06%
    Other 28 $7,710,000 $275,357 $1,436 6.93%
    Cash Out Refi 11 $4,525,000 $411,364 $2,857 6.40%
    Refi 5 $2,505,000 $501,000 $2,026 6.43%

    For 2024, San Mateo Credit Union's most frequently cited loan purpose was Home Purchase, with 80 originations. The 2nd most popular reason was Home Improvement, with 54 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 102 $86,590,000 $848,922 $4,552 6.33%
    15 Year 62 $10,220,000 $164,839 $489 7.12%
    20 Year 6 $1,360,000 $226,667 $3,079 6.42%
    10 Year 4 $730,000 $182,500 $1,090 7.03%
    30+ year 3 $3,185,000 $1,061,667 $5,826 6.63%
    5 Year 1 $45,000 $45,000 $0 7.63%

    For 2024, San Mateo Credit Union's most frequently cited loan duration was 30 Year, with 102 originations. The 2nd most popular length was 15 Year, with 62 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 162 $89,450,000 $552,160
    $1k-2k 5 $4,415,000 $883,000
    $2k-3k 5 $5,075,000 $1,015,000
    $5k+ 3 $2,545,000 $848,333
    $4k-5k 2 $530,000 $265,000
    $3k-4k 1 $115,000 $115,000

    San Mateo Credit Union's average total fees were $4,552, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 162 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 130 $80,460,000 $618,923
    5-6% 24 $18,750,000 $781,250
    7-8% 24 $2,920,000 $121,667

    During 2024, San Mateo Credit Union's average interest rate for loans was 6.33%, while their most frequently originated rate bucket for loans was 6-7%, with 130 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 37 $50,865,000 $1,374,730 $5,196 6.25%
    $100k-200k 32 $4,550,000 $142,188 $1,070 6.95%
    $200k-400k 32 $9,890,000 $309,063 $2,242 6.62%
    $600k-1MM 32 $25,610,000 $800,313 $5,333 6.39%
    $100,000 or less 25 $1,445,000 $57,800 $168 7.27%
    $400k-600k 20 $9,770,000 $488,500 $3,094 6.45%

    2024 saw San Mateo Credit Union place emphasis on $1MM+ loans with 37 originations, totaling $50,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 73 $67,775,000 $928,425 $4,304 6.48%
    $150k-250k 59 $26,205,000 $444,153 $2,670 6.68%
    $100k-150k 23 $5,045,000 $219,348 $1,243 6.94%
    $75k-100k 11 $1,475,000 $134,091 $1,567 6.81%
    $50k-75k 7 $1,055,000 $150,714 $1,498 6.63%
    $50k or less 5 $575,000 $115,000 $1,375 6.65%

    San Mateo Credit Union lent most frequently to those with incomes in the $250k+ range, with 73 originations. The second most popular income band? $150k-250k, with 59 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 37 $26,345,000 $712,027 $3,415 6.48%
    20-30% 26 $12,350,000 $475,000 $3,030 6.67%
    44% 12 $5,670,000 $472,500 $2,989 6.60%
    50-60% 12 $6,750,000 $562,500 $2,226 6.77%
    39% 12 $7,310,000 $609,167 $2,859 6.56%
    40% 10 $7,180,000 $718,000 $2,436 6.73%
    37% 9 $6,415,000 $712,778 $3,961 6.47%
    36% 8 $3,970,000 $496,250 $2,048 6.72%
    49% 8 $2,330,000 $291,250 $3,213 7.06%
    38% 7 $5,275,000 $753,571 $2,857 6.48%
    48% 6 $3,530,000 $588,333 $3,649 6.56%
    41% 6 $4,300,000 $716,667 $3,340 6.69%
    43% 6 $3,960,000 $660,000 $2,583 6.77%
    45% 6 $2,290,000 $381,667 $3,672 6.73%
    47% 5 $1,645,000 $329,000 $2,320 6.60%
    42% 3 $1,565,000 $521,667 $3,198 6.63%
    <20% 3 $1,125,000 $375,000 $3,405 6.42%
    46% 2 $120,000 $60,000 $0 7.38%

    San Mateo Credit Union lent most frequently to those with DTI ratios of 30-36%, with 37 originations. The next most common DTI ratio? 20-30%, with 26 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 43 $35,245,000 $819,651 $4,135 6.42%
    Not provided 64 $31,530,000 $492,656 $2,332 6.73%
    White 51 $24,075,000 $472,059 $2,808 6.75%
    Asian Indian 7 $5,885,000 $840,714 $3,315 6.32%
    Chinese 3 $2,565,000 $855,000 $4,647 6.25%
    Filipino 2 $880,000 $440,000 $4,192 6.25%
    Korean 1 $765,000 $765,000 $5,718 6.13%
    Samoan 1 $535,000 $535,000 $4,402 6.38%
    Black 4 $430,000 $107,500 $2,258 6.84%
    American Indian 1 $175,000 $175,000 $0 6.88%
    Native Hawaiian or Islander 1 $45,000 $45,000 $0 7.63%

    Approval Rates

    Total approvals of all applications
    86.63%

    San Mateo Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    66.85%

    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 178 $102,130,000 $573,764

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    178 $102,130,000 $573,764

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $9,860,000 $352,143 $2,342 6.63%
    40-60% 8 $4,440,000 $555,000 $4,396 6.50%
    60-80% 36 $33,680,000 $935,556 $4,931 6.21%
    80-100% 43 $44,665,000 $1,038,721 $5,248 6.32%
    Under 20% 61 $8,315,000 $136,311 $381 7.12%