Mid-atlantic Federal Credit Union Mortgage Rates, Fees & Info

Germantown, MD

LEI: 549300XRGNVNCISU8Q79

Tax ID: 52-0896021

5 stars - out of 5 stars, based on 13 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Mid-atlantic Federal Credit Union is a smaller credit union specializing in Other and Home Purchase loans. Mid-atlantic Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Miami, New York, and Salisbury among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mid-atlantic Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Mid-atlantic Federal Credit Union 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.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.68% 3/28/23
    30 Year Conventional Refi 6.23% 3/28/23
    30 Year Cash-out Refi 6.29% 3/28/23
    15 Year Conventional Refi 6.00% 3/28/23
    15 Year Cash-out Refi 6.00% 3/28/23
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    176

    Origination Dollar Volume (All Markets)

    $36,420,000

    Awards

    Mid-Atlantic Federal Credit Union 30 Year Conventional Loans gold Mid-Atlantic Federal Credit Union 30 Year Conventional Loans silver Mid-Atlantic Federal Credit Union 30 Year Conventional Loans bronze
    Show all (3) awards

    Relative Rate

    Mid-atlantic Federal Credit Union's average 30 year fixed mortgage rate was 4.65%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.11%.

    Relative Fees (Closing Costs)

    Mid-atlantic Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,421.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 151 $31,215,000 $206,722 $3,931 4.48%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 16 $1,990,000 $124,375 $3,452 5.00%
    Outside of Metro Areas 1 $1,205,000 $1,205,000 $13,244 5.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $705,000 $235,000 $7,357 5.96%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $495,000 $495,000 $4,943 5.88%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $355,000 $355,000 $4,387 3.13%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $255,000 $255,000 $5,237 3.75%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $135,000 $135,000 $3,060 4.00%
    Cambridge, MD (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.50%
    Mid-atlantic Federal Credit Union's top markets include Washington, Baltimore, Miami, New York, and Salisbury among others.

    Their top states include:
  • Maryland (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Mid-Atlantic Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    POINT BREEZE
    Similarity Rank: 477
    Cedar Point Federal Credit Union
    Similarity Rank: 546
    U S WIDE FINANCIAL LLC
    Similarity Rank: 960
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 980
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 1344
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1560
    Allied First Bank,sb
    Similarity Rank: 2394
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 2583
    Poli Mortgage Group, Inc.
    Similarity Rank: 2929
    First Midwest Bank
    Similarity Rank: 2989

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 135 $21,275,000 $157,593 n/a 4.55%
    Conventional 41 $15,145,000 $369,390 $4,325 4.54%

    For 2022, Mid-atlantic Federal Credit Union's most frequently originated type of loan was HELOC, with 135 originations. Their 2nd most popular type was Conventional, with 41 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 119 $18,845,000 $158,361 $0 4.40%
    Home Purchase 18 $7,380,000 $410,000 $5,262 5.08%
    Cash Out Refi 17 $5,925,000 $348,529 $3,272 4.53%
    Home Improvement 14 $1,850,000 $132,143 $0 5.73%
    Refi 8 $2,420,000 $302,500 $4,321 3.55%

    For 2022, Mid-atlantic Federal Credit Union's most frequently cited loan purpose was Other, with 119 originations. The 2nd most popular reason was Home Purchase, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 112 $18,300,000 $163,393 $2,431 4.38%
    30 Year 38 $14,710,000 $387,105 $4,421 4.65%
    Other 24 $3,070,000 $127,917 $0 5.26%
    10 Year 1 $145,000 $145,000 $2,711 2.25%
    20 Year 1 $195,000 $195,000 $4,164 4.88%

    For 2022, Mid-atlantic Federal Credit Union's most frequently cited loan duration was 15 Year, with 112 originations. The 2nd most popular length was 30 Year, with 38 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 19 $7,615,000 $400,789
    $1k-2k 11 $2,675,000 $243,182
    $2k-3k 6 $1,790,000 $298,333
    $3k-4k 2 $530,000 $265,000
    $5k+ 2 $2,130,000 $1,065,000
    $4k-5k 1 $405,000 $405,000

    Mid-atlantic Federal Credit Union's average total fees were $4,421, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 19 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 85 $16,585,000 $195,118
    5-6% 38 $8,680,000 $228,421
    4-5% 35 $7,175,000 $205,000
    6-7% 14 $3,600,000 $257,143
    <2.5% 2 $240,000 $120,000
    7-8% 1 $85,000 $85,000
    Over 8% 1 $55,000 $55,000

    During 2022, Mid-atlantic Federal Credit Union's average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 3-4%, with 85 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 58 $3,900,000 $67,241 $2,107 4.59%
    $100k-200k 51 $7,195,000 $141,078 $3,444 4.57%
    $200k-400k 48 $13,660,000 $284,583 $3,454 4.47%
    $400k-600k 14 $6,650,000 $475,000 $5,016 4.52%
    $600k-1MM 3 $2,205,000 $735,000 $8,197 4.25%
    $1MM+ 2 $2,810,000 $1,405,000 $9,246 5.63%

    2022 saw Mid-atlantic Federal Credit Union place emphasis on $100,000 or less loans with 58 originations, totaling $3,900,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 55 $12,865,000 $233,909 $5,179 4.54%
    $100k-150k 48 $9,280,000 $193,333 $3,589 4.57%
    $250k+ 34 $9,640,000 $283,529 $6,172 4.79%
    $75k-100k 19 $2,245,000 $118,158 $2,576 4.34%
    $50k-75k 15 $1,855,000 $123,667 $2,868 4.43%
    $50k or less 5 $535,000 $107,000 $2,798 3.93%

    Mid-atlantic Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 55 originations. The second most popular income band? $100k-150k, with 48 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 32 $6,650,000 $207,813 $4,881 4.45%
    30-36% 31 $5,595,000 $180,484 $3,263 4.76%
    50-60% 31 $6,075,000 $195,968 $8,166 4.16%
    41% 12 $3,860,000 $321,667 $4,773 4.95%
    <20% 10 $1,710,000 $171,000 $4,575 3.86%
    36% 7 $1,515,000 $216,429 $2,012 3.61%
    46% 7 $1,605,000 $229,286 $5,460 4.77%
    37% 6 $1,010,000 $168,333 $3,858 5.38%
    39% 6 $1,010,000 $168,333 $0 4.83%
    43% 6 $1,300,000 $216,667 $3,157 4.35%
    47% 5 $1,005,000 $201,000 $3,681 5.25%
    38% 4 $670,000 $167,500 $0 5.31%
    42% 4 $830,000 $207,500 $0 4.63%
    45% 4 $870,000 $217,500 $2,936 3.63%
    48% 4 $1,090,000 $272,500 $4,046 5.38%
    49% 4 $630,000 $157,500 $0 4.88%
    40% 2 $620,000 $310,000 $2,271 5.19%
    44% 1 $375,000 $375,000 $0 5.75%

    Mid-atlantic Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? 30-36%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 96 $19,450,000 $202,604 $4,922 4.66%
    Asian 35 $8,015,000 $229,000 $4,455 4.40%
    Black 35 $7,075,000 $202,143 $3,646 4.44%
    Not provided 7 $1,285,000 $183,571 $0 4.46%
    Asian Indian 2 $310,000 $155,000 $0 4.63%
    Chinese 1 $285,000 $285,000 $0 3.75%

    Approval Rates

    Total approvals of all applications
    94.95%

    Mid-atlantic Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.95%

    Mid-atlantic Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 176 $36,420,000 $206,932

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    176 $36,420,000 $206,932

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 48 $8,900,000 $185,417 $3,290 4.47%
    40-60% 28 $8,120,000 $290,000 $3,479 4.26%
    60-80% 15 $6,635,000 $442,333 $5,673 4.55%
    80-100% 12 $5,370,000 $447,500 $4,124 4.92%
    Under 20% 72 $7,340,000 $101,944 $0 4.57%