Municipal Employees Credit Union Of Baltimore Incorporated Mortgage Rates, Fees & Info

LUTHERVILLE TIMONIUM, MD

LEI: 549300X7J20OLLSGTZ36

Tax ID: 52-0284053

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Mortgage Data

Review & Overview

Municipal Employees Credit Union Of Baltimore Incorporated is a smaller credit union specializing in Home Purchase loans. Municipal Employees Credit Union Of Baltimore Incorporated has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Baltimore, Washington, Salisbury, and York among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Municipal Employees Credit Union Of Baltimore Incorporated 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

89

Origination Dollar Volume (All Markets)

$12,865,000

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
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 78 $9,720,000 $124,615 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 8 $2,910,000 $363,750 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
YORK-HANOVER, PA (FHA|USDA|VA) 2 $70,000 $35,000 $0 0.00%
Municipal Employees Credit Union Of Baltimore Incorporated's top markets include Baltimore, Washington, Salisbury, and York among others.

Their top states include:
  • Maryland (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 82 $11,610,000 $141,585 $0 0.00%
    FHA 7 $1,255,000 $179,286 $0 0.00%

    For 2023, Municipal Employees Credit Union Of Baltimore Incorporated's most frequently originated type of loan was Conventional, with 82 originations. Their 2nd most popular type was FHA, with 7 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 32 $1,640,000 $51,250 $0 0.00%
    Home Purchase 22 $6,000,000 $272,727 $0 0.00%
    Refi 20 $1,790,000 $89,500 $0 0.00%
    Cash Out Refi 13 $2,175,000 $167,308 $0 0.00%
    Other 2 $1,260,000 $630,000 $0 0.00%

    For 2023, Municipal Employees Credit Union Of Baltimore Incorporated's most frequently cited loan purpose was Home Improvement, with 32 originations. The 2nd most popular reason was Home Purchase, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 89 $12,865,000 $144,551 $0 0.00%

    For 2023, Municipal Employees Credit Union Of Baltimore Incorporated's most frequently cited loan duration was Other, with 89 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 53 $2,725,000 $51,415 $0 0.00%
    $100k-200k 17 $2,355,000 $138,529 $0 0.00%
    $200k-400k 13 $3,675,000 $282,692 $0 0.00%
    $400k-600k 3 $1,625,000 $541,667 $0 0.00%
    $600k-1MM 2 $1,280,000 $640,000 $0 0.00%
    $1MM+ 1 $1,205,000 $1,205,000 $0 0.00%

    2023 saw Municipal Employees Credit Union Of Baltimore Incorporated place emphasis on $100,000 or less loans with 53 originations, totaling $2,725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 26 $2,680,000 $103,077 $0 0.00%
    $150k-250k 22 $3,820,000 $173,636 $0 0.00%
    $50k-75k 18 $1,820,000 $101,111 $0 0.00%
    $75k-100k 13 $1,445,000 $111,154 $0 0.00%
    $250k+ 5 $1,455,000 $291,000 $0 0.00%
    $50k or less 3 $155,000 $51,667 $0 0.00%

    Municipal Employees Credit Union Of Baltimore Incorporated lent most frequently to those with incomes in the $100k-150k range, with 26 originations. The second most popular income band? $150k-250k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 89 $12,865,000 $144,551 $0 0.00%

    Municipal Employees Credit Union Of Baltimore Incorporated lent most frequently to those with DTI ratios of Exempt%, with 89 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Black 35 $4,895,000 $139,857 $0 0.00%
    White 32 $3,470,000 $108,438 $0 0.00%
    Not provided 15 $2,035,000 $135,667 $0 0.00%
    Not applicable 2 $1,490,000 $745,000 $0 0.00%
    American Indian 3 $855,000 $285,000 $0 0.00%
    Asian 1 $65,000 $65,000 $0 0.00%
    Other Pacific Islander 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    78.40%

    Municipal Employees Credit Union Of Baltimore Incorporated has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    37.08%

    Municipal Employees Credit Union Of Baltimore Incorporated 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
    Exempt 89 $12,865,000 $144,551

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    89 $12,865,000 $144,551