Securityplus Fcu Mortgage Rates, Fees & Info
Baltimore, MDLEI: 549300XA6P3X1GTJEY80
Tax ID: 52-0584127
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Mortgage Data
Review & Overview
Securityplus Fcu is a smaller credit union specializing in Home Improvement, Other, and Home Purchase loans. Securityplus Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Baltimore, Washington, Raleigh, Miami, and Panama City among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)Securityplus Fcu has an above average approval rate when compared to the average across all lenders. They typically have relatively high rates.
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Originations
197Origination Dollar Volume (All Markets)
$32,615,000Relative Rate
Securityplus Fcu's average 30 year fixed mortgage rate was
6.45%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.03%.
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) | 149 | $20,605,000 | $138,289 | $0 | 8.20% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 26 | $5,530,000 | $212,692 | $0 | 8.63% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 4 | $1,610,000 | $402,500 | $0 | 8.25% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $1,580,000 | $790,000 | $0 | 8.75% |
| PANAMA CITY, FL (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $0 | 6.75% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 6.50% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $0 | 7.33% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 6.63% |
| AMES, IA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 6.50% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 8.88% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 8.50% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 7.63% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 7.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.50% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 8.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Securityplus FCU based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 153 | $22,745,000 | $148,660 | n/a | 8.54% |
| Conventional | 44 | $9,870,000 | $224,318 | $0 | 7.06% |
For 2023, Securityplus Fcu's most frequently originated type of loan was HELOC, with 153 originations. Their 2nd most popular type was Conventional, with 44 originations.
Loan Reason
For 2023, Securityplus Fcu's most frequently cited loan purpose was Home Improvement, with 114 originations. The 2nd most popular reason was Other, with 57 originations.
Loan Duration/Length
For 2023, Securityplus Fcu's most frequently cited loan duration was 15 Year, with 164 originations. The 2nd most popular length was 30 Year, with 26 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 30 | $9,070,000 | $302,333 |
Securityplus Fcu's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 30 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 115 | $16,545,000 | $143,870 |
| 7-8% | 40 | $6,130,000 | $153,250 |
| 6-7% | 36 | $8,750,000 | $243,056 |
| 5-6% | 6 | $1,190,000 | $198,333 |
During 2023, Securityplus Fcu's average interest rate for loans was 6.45%, while their most frequently originated rate bucket for loans was Over 8%, with 115 originations.
Loan Sizing
2023 saw Securityplus Fcu place emphasis on $100,000 or less loans with 92 originations, totaling $5,260,000 in origination value.
Applicant Income
Securityplus Fcu lent most frequently to those with incomes in the $100k-150k range, with 63 originations. The second most popular income band? $150k-250k, with 40 originations.
Applicant Debt to Income Ratio
Securityplus Fcu lent most frequently to those with DTI ratios of 30-36%, with 36 originations. The next most common DTI ratio? 20-30%, with 32 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.81%
Securityplus Fcu has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 197 | $32,615,000 | $165,558 |