San Mateo Credit Union Mortgage Rates, Fees & Info

Redwood City, CA

LEI: 549300QNPOF1WCRKLZ94

Tax ID: 94-1231186

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

Jump to:

  • 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

    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 by origination volume include: San Francisco, San Jose, Sacramento, Stockton, and Vallejo among others. We have data for 23 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.13% 12/16/24
    30 Year Conventional Refi 6.16% 12/16/24
    30 Year Cash-out Refi 6.22% 12/16/24
    15 Year Conventional Purchase 5.61% 12/16/24
    15 Year Conventional Refi 6.02% 12/16/24
    15 Year Cash-out Refi 6.02% 12/16/24
    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.

    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

    617

    Origination Dollar Volume (All Markets)

    $344,725,000

    Awards

    San Mateo Credit Union 30 Year Conventional Loans silver San Mateo Credit Union 30 Year Conventional Loans silver
    Show all (2) 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
    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.

    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.

    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 624
    HERITAGE COMMUNITY CREDIT UNION
    Similarity Rank: 1134
    1ST NORTHERN CALIFORNIA
    Similarity Rank: 1164
    CommonWealth Central Credit Union
    Similarity Rank: 1428
    SAN FRANCISCO FEDERAL CREDIT UNION
    Similarity Rank: 2191
    Sierra Central Credit Union
    Similarity Rank: 2628
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 2715
    Valley First Credit Union
    Similarity Rank: 2814
    SAFEAMERICA CREDIT UNION
    Similarity Rank: 2895
    S&S Financial
    Similarity Rank: 3196

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 612 $343,860,000 $561,863 $3,385 2.94%
    HELOC 5 $865,000 $173,000 n/a 3.25%

    For 2021, San Mateo Credit Union's most frequently originated type of loan was Conventional, with 612 originations. Their 2nd most popular type was HELOC, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, San Mateo Credit Union's most frequently cited loan purpose was Other, with 161 originations. The 2nd most popular reason was 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 2021, San Mateo Credit Union's most frequently cited loan duration was 30 Year, with 482 originations. The 2nd most popular length was 15 Year, with 91 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 415 $219,665,000 $529,313
    $1k-2k 74 $47,000,000 $635,135
    $5k+ 41 $30,275,000 $738,415
    $2k-3k 36 $22,150,000 $615,278
    $3k-4k 23 $11,535,000 $501,522
    $4k-5k 19 $10,335,000 $543,947

    San Mateo Credit Union's average total fees were $3,695, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.93%, while their most frequently originated rate bucket for loans was 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 or Islander 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 Hawaiian 2 $800,000 $400,000 $1,188 4.06%

    Approval Rates

    Total approvals of all applications
    87.62%

    San Mateo Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    65.80%

    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%