Securityplus Fcu Mortgage Rates, Fees & Info

Baltimore, MD

LEI: 549300XA6P3X1GTJEY80

Tax ID: 52-0584127

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

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Securityplus Fcu is a smaller credit union specializing in Home Purchase loans. Securityplus Fcu has a high proportion of conventional loans. Their top (well, only) market is Baltimore.

    Securityplus Fcu has an above average approval rate when compared to the average across all lenders. Securityplus Fcu 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.


    Originations

    22

    Origination Dollar Volume (All Markets)

    $2,810,000

    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) 22 $2,810,000 $127,727 $3,023 6.07%
    Securityplus Fcu's top markets include and Baltimore among others.

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

    • 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.

    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 218
    POINT BREEZE
    Similarity Rank: 270
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 444
    APL
    Similarity Rank: 605
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 612
    EDUCATIONAL SYSTEMS
    Similarity Rank: 714
    ACNB Bank
    Similarity Rank: 840
    PEOPLESBANK, A CODORUS VALLEY COMPANY
    Similarity Rank: 1833
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 2088
    MILLENNIUM FINANCIAL GROUP, INC.
    Similarity Rank: 2702

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 22 $2,810,000 $127,727 $3,023 6.07%

    For 2019, Securityplus Fcu's most frequently originated type of loan was Conventional, with 22 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 9 $525,000 $58,333 $0 7.44%
    Home Purchase 6 $1,640,000 $273,333 $2,758 4.23%
    Home Improvement 3 $225,000 $75,000 $0 6.33%
    Refi 2 $80,000 $40,000 $0 6.50%
    Cash Out Refi 2 $340,000 $170,000 $3,555 4.56%

    For 2019, Securityplus Fcu's most frequently cited loan purpose was Other, with 9 originations. The 2nd most popular reason was Home Purchase, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 7 $605,000 $86,429 $2,165 6.73%
    30 Year 7 $1,785,000 $255,000 $3,195 4.48%
    10 Year 5 $255,000 $51,000 $0 7.40%
    5 Year 3 $165,000 $55,000 $0 6.00%

    For 2019, Securityplus Fcu's most frequently cited loan duration was 15 Year, with 7 originations. The 2nd most popular length was 30 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 5 $1,175,000 $235,000
    $<1k 1 $695,000 $695,000

    Securityplus Fcu's average total fees were $3,195, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 5 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 7 $1,435,000 $205,000
    7-8% 7 $475,000 $67,857
    6-7% 3 $145,000 $48,333
    3-4% 2 $610,000 $305,000
    5-6% 2 $120,000 $60,000
    Over 8% 1 $25,000 $25,000

    During 2019, Securityplus Fcu's average interest rate for loans was 4.48%, while their most frequently originated rate bucket for loans was 4-5%, with 7 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 14 $730,000 $52,143 $0 6.67%
    $100k-200k 4 $540,000 $135,000 $2,876 5.84%
    $200k-400k 2 $430,000 $215,000 $3,922 4.31%
    $400k-600k 1 $415,000 $415,000 $4,384 3.75%
    $600k-1MM 1 $695,000 $695,000 $160 4.38%

    2019 saw Securityplus Fcu place emphasis on $100,000 or less loans with 14 originations, totaling $730,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 6 $400,000 $66,667 $0 5.81%
    $50k-75k 6 $640,000 $106,667 $3,244 6.40%
    $150k-250k 4 $860,000 $215,000 $160 6.22%
    $75k-100k 4 $470,000 $117,500 $3,555 6.03%
    $250k+ 1 $415,000 $415,000 $4,384 3.75%
    $50k or less 1 $25,000 $25,000 $0 7.50%

    Securityplus Fcu lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $50k-75k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 6 $600,000 $100,000 $3,555 5.50%
    >60% 4 $290,000 $72,500 $0 7.13%
    <20% 3 $535,000 $178,333 $4,384 6.08%
    50-60% 2 $750,000 $375,000 $160 5.94%
    37% 2 $220,000 $110,000 $2,165 5.81%
    36% 1 $65,000 $65,000 $0 4.50%
    47% 1 $225,000 $225,000 $4,323 4.25%
    30-36% 1 $25,000 $25,000 $0 7.50%
    41% 1 $25,000 $25,000 $0 7.50%
    39% 1 $75,000 $75,000 $0 6.50%

    Securityplus Fcu lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? >60%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Black 12 $1,460,000 $121,667 $1,874 6.72%
    White 8 $1,110,000 $138,750 $3,624 5.19%
    Not provided 2 $240,000 $120,000 $3,521 5.69%

    Approval Rates

    Total approvals of all applications
    91.67%

    Securityplus Fcu has an average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 22 $2,810,000 $127,727

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 22 $2,810,000 $127,727

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $410,000 $68,333 $0 6.92%
    40-60% 2 $130,000 $65,000 $0 7.50%
    60-80% 5 $985,000 $197,000 $3,624 5.13%
    80-100% 5 $1,145,000 $229,000 $2,423 4.68%
    Under 20% 4 $140,000 $35,000 $0 7.00%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Security National Financial Corp FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    Security National Financial Corp Other type of mortgage Trouble during payment process 1 33.3%
    Security National Financial Corp VA mortgage Closing on a mortgage 1 33.3%