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

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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 Refi, Cash Out Refi, and Home Purchase loans. Securityplus Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Baltimore, Washington, Miami, York, and California among others. We have data for 8 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 have an above average pick rate when compared to similar 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.

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    Originations

    77

    Origination Dollar Volume (All Markets)

    $25,075,000

    Awards

    Securityplus FCU 30 Year Conventional Loans bronze Securityplus FCU 30 Year Conventional Loans silver Securityplus FCU 30 Year Conventional Loans gold
    Show all (3) 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
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 59 $18,615,000 $315,508 $3,507 2.84%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 11 $3,955,000 $359,545 $3,516 2.75%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $670,000 $335,000 $3,631 2.94%
    Outside of Metro Areas 1 $535,000 $535,000 $5,989 2.50%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $355,000 $355,000 $5,037 2.38%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $335,000 $335,000 $3,107 2.63%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,309 2.88%
    Easton, MD (FHA|USDA|VA) 1 $305,000 $305,000 $4,010 2.88%
    Securityplus Fcu's top markets include Baltimore, Washington, Miami, York, and California among others.

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

    POINT BREEZE
    Similarity Rank: 477
    Securityplus FCU
    Similarity Rank: 736
    Kwik Mortgage Corporation
    Similarity Rank: 1180
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1300
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 1344
    ACNB Bank
    Similarity Rank: 1350
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1392
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 1394
    JAMS-01, INC.
    Similarity Rank: 1428
    Congressional Bank
    Similarity Rank: 1988

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 77 $25,075,000 $325,649 $3,563 2.82%

    For 2021, Securityplus Fcu's most frequently originated type of loan was Conventional, with 77 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 34 $11,940,000 $351,176 $3,437 2.74%
    Cash Out Refi 25 $7,195,000 $287,800 $3,444 2.77%
    Home Purchase 16 $5,380,000 $336,250 $3,913 2.89%
    Other 2 $560,000 $280,000 $5,243 4.25%

    For 2021, Securityplus Fcu's most frequently cited loan purpose was Refi, with 34 originations. The 2nd most popular reason was Cash Out Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 56 $19,090,000 $340,893 $3,549 2.88%
    15 Year 14 $4,350,000 $310,714 $3,841 2.40%
    20 Year 5 $1,465,000 $293,000 $3,108 2.68%
    5 Year 1 $55,000 $55,000 $0 6.00%
    Other 1 $115,000 $115,000 $2,724 2.50%

    For 2021, Securityplus Fcu's most frequently cited loan duration was 30 Year, with 56 originations. The 2nd most popular length was 15 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 73 $23,605,000 $323,356
    $2k-3k 2 $1,040,000 $520,000
    $<1k 1 $375,000 $375,000

    Securityplus Fcu's average total fees were $3,549, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 73 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 51 $18,515,000 $363,039
    <2.5% 18 $5,170,000 $287,222
    3-4% 7 $1,335,000 $190,714
    5-6% 1 $55,000 $55,000

    During 2021, Securityplus Fcu's average interest rate for loans was 2.88%, while their most frequently originated rate bucket for loans was 2.5-3%, with 51 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 34 $10,170,000 $299,118 $3,476 2.79%
    $100k-200k 19 $2,985,000 $157,105 $3,071 2.84%
    $400k-600k 14 $7,110,000 $507,857 $4,114 2.65%
    $600k-1MM 7 $4,575,000 $653,571 $4,395 2.84%
    $100,000 or less 3 $235,000 $78,333 $2,969 3.67%

    2021 saw Securityplus Fcu place emphasis on $200k-400k loans with 34 originations, totaling $10,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 19 $6,185,000 $325,526 $3,478 2.72%
    $150k-250k 14 $6,340,000 $452,857 $3,903 2.71%
    $75k-100k 14 $3,720,000 $265,714 $3,360 3.08%
    $50k-75k 13 $3,095,000 $238,077 $3,476 2.74%
    $250k+ 10 $4,590,000 $459,000 $3,997 2.90%
    $50k or less 7 $1,145,000 $163,571 $3,034 2.80%

    Securityplus Fcu lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $150k-250k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 15 $4,135,000 $275,667 $3,301 2.80%
    30-36% 15 $5,155,000 $343,667 $3,550 2.88%
    <20% 10 $3,440,000 $344,000 $3,658 2.76%
    43% 6 $2,540,000 $423,333 $3,752 2.63%
    50-60% 5 $1,545,000 $309,000 $3,533 2.70%
    37% 5 $1,115,000 $223,000 $3,362 2.68%
    47% 3 $1,015,000 $338,333 $4,069 2.83%
    48% 2 $440,000 $220,000 $3,051 2.69%
    40% 2 $1,400,000 $700,000 $4,294 2.94%
    36% 2 $730,000 $365,000 $4,823 2.63%
    38% 2 $810,000 $405,000 $3,530 2.69%
    44% 2 $720,000 $360,000 $3,501 3.00%
    41% 2 $730,000 $365,000 $3,553 2.81%
    46% 2 $530,000 $265,000 $3,538 2.75%
    45% 1 $365,000 $365,000 $3,400 2.88%
    42% 1 $55,000 $55,000 $0 6.00%
    39% 1 $185,000 $185,000 $3,507 2.88%
    49% 1 $165,000 $165,000 $2,777 2.38%

    Securityplus Fcu lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? 30-36%, with 15 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 28 $9,350,000 $333,929 $3,632 2.72%
    Not provided 25 $8,515,000 $340,600 $3,485 2.80%
    Black 24 $7,210,000 $300,417 $3,565 2.95%

    Approval Rates

    Total approvals of all applications
    100.00%

    Securityplus Fcu has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    92.21%

    Securityplus Fcu has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 77 $25,075,000 $325,649

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    77 $25,075,000 $325,649

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $630,000 $315,000 $4,358 2.50%
    40-60% 6 $1,410,000 $235,000 $2,859 2.56%
    60-80% 41 $12,695,000 $309,634 $3,474 2.78%
    80-100% 27 $10,285,000 $380,926 $3,797 2.84%
    Under 20% 1 $55,000 $55,000 $0 6.00%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Security National Financial Corp Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    Security National Financial Corp Conventional home mortgage Closing on a mortgage 1 7.1%
    Security National Financial Corp Conventional home mortgage Incorrect information on your report 1 7.1%
    Security National Financial Corp Conventional home mortgage Trouble during payment process 5 35.7%
    Security National Financial Corp FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    Security National Financial Corp FHA mortgage Trouble during payment process 2 14.3%
    Security National Financial Corp Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 14.3%
    Security National Financial Corp VA mortgage Closing on a mortgage 1 7.1%