Merck Employees Federal Credit Union Mortgage Rates, Fees & Info
RAHWAY, NJLEI: 549300RKVDUINI2A8Y77
Tax ID: 22-1511702
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Mortgage Data
Review & Overview
Merck Employees Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Merck Employees Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Trenton, Allentown, and Boston among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)Merck Employees Federal 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.
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Originations
210Origination Dollar Volume (All Markets)
$55,190,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 138 | $30,850,000 | $223,551 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 29 | $12,005,000 | $413,966 | $0 | 0.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 3 | $1,855,000 | $618,333 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 7 | $1,665,000 | $237,857 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $1,010,000 | $505,000 | $0 | 0.00% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $0 | 0.00% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $0 | 0.00% |
| HARRISONBURG, VA (FHA|USDA|VA) | 7 | $675,000 | $96,429 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $0 | 0.00% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $0 | 0.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $0 | 0.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $0 | 0.00% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $100,000 | $50,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 210 | $55,190,000 | $262,810 | $0 | 0.00% |
For 2022, Merck Employees Federal Credit Union's most frequently originated type of loan was Conventional, with 210 originations.
Loan Reason
For 2022, Merck Employees Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 73 originations. The 2nd most popular reason was Home Improvement, with 65 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 210 | $55,190,000 | $262,810 | $0 | 0.00% |
For 2022, Merck Employees Federal Credit Union's most frequently cited loan duration was Other, with 210 originations.
Loan Sizing
2022 saw Merck Employees Federal Credit Union place emphasis on $100,000 or less loans with 63 originations, totaling $3,175,000 in origination value.
Applicant Income
Merck Employees Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 75 originations. The second most popular income band? $100k-150k, with 46 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 210 | $55,190,000 | $262,810 | $0 | 0.00% |
Merck Employees Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 210 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.01%
Merck Employees Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination78.10%
Merck Employees Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 210 | $55,190,000 | $262,810 |