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 19 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Mid-atlantic Federal Credit Union is a smaller credit union specializing in Refi and Other loans. Mid-atlantic Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Washington, Baltimore, Hagerstown, New York, and Salisbury among others. Mid-atlantic Federal Credit Union has an above average approval rate for mortages when compared nationally. They have an above average pick rate when compared to the same sample of other lendors. Mid-atlantic Federal Credit Union is typically a low fee lendor.


Originations

353

Origination Dollar Volume (All Markets)

$93,665,000

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 rate mortgage of loans were 3.02%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.13%.

Relative Fees

Mid-atlantic Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $3,018.

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

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 303 $79,695,000 $263,020 $2,952 3.17%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 23 $7,195,000 $312,826 $2,596 3.09%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 8 $1,690,000 $211,250 $3,148 3.16%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 4 $1,430,000 $357,500 $3,490 3.19%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $550,000 $275,000 $2,953 3.06%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $505,000 $505,000 $2,739 2.75%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $365,000 $365,000 $2,444 2.88%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 2 $360,000 $180,000 $3,061 2.81%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $355,000 $355,000 $1,657 2.88%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $345,000 $345,000 $3,895 3.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $295,000 $295,000 $3,361 2.75%
FLORENCE, SC (FHA|USDA|VA) 1 $215,000 $215,000 $2,173 2.88%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,084 2.63%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $165,000 $165,000 $2,976 3.75%
BELLINGHAM, WA (FHA|USDA|VA) 1 $145,000 $145,000 $2,341 2.75%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $125,000 $125,000 $2,497 2.38%
Cambridge, MD (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%

Mid-atlantic Federal Credit Union's top markets include Washington, Baltimore, Hagerstown, New York, and Salisbury among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 352 $93,560,000 $265,795 $2,931 3.15%
FHA 1 $105,000 $105,000 $0 3.75%

For the 2021 period, Mid-atlantic Federal Credit Union's most frequently originated loan type of loans were Conventional, with 352 originations. Their 2nd most popular type is FHA, with 1 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 144 $44,770,000 $310,903 $2,534 2.78%
Other 133 $22,805,000 $171,466 $0 3.56%
Cash Out Refi 47 $15,255,000 $324,574 $3,406 3.09%
Home Purchase 27 $10,495,000 $388,704 $4,229 3.22%
Home Improvement 2 $340,000 $170,000 $0 3.50%

For the 2021, Mid-atlantic Federal Credit Union's most frequently cited loan purpose of loans were Refi, with 144 originations. The 2nd most popular reason of loans were Other, with 133 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
15 Year 174 $34,920,000 $200,690 $2,620 3.26%
30 Year 167 $56,985,000 $341,228 $3,018 3.02%
Other 6 $680,000 $113,333 $0 3.55%
30+ year 4 $790,000 $197,500 $0 3.63%
10 Year 1 $165,000 $165,000 $1,635 2.25%
20 Year 1 $125,000 $125,000 $4,404 3.00%

For the 2021, Mid-atlantic Federal Credit Union's most frequently cited loan length of loans were 15 Year, with 174 originations. The 2nd most popular length of loans were 30 Year, with 167 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 164 $54,310,000 $331,159
$1k-2k 29 $9,055,000 $312,241
$2k-3k 14 $3,680,000 $262,857
$3k-4k 5 $935,000 $187,000
$5k+ 4 $2,180,000 $545,000

$3,018 of loans were Mid-atlantic Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 164 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 196 $45,760,000 $233,469
2.5-3% 106 $34,410,000 $324,623
<2.5% 45 $12,545,000 $278,778
4-5% 2 $440,000 $220,000
5-6% 1 $115,000 $115,000

During 2021, Mid-atlantic Federal Credit Union's average interest rate of loans were 3.02%, while their most frequently originated rate bucket of loans were 3-4%, with 196 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 153 $43,375,000 $283,497 $2,792 3.03%
$100k-200k 87 $13,025,000 $149,713 $2,597 3.19%
$400k-600k 54 $25,840,000 $478,519 $2,920 3.08%
$100,000 or less 48 $3,000,000 $62,500 $3,079 3.52%
$600k-1MM 11 $8,425,000 $765,909 $5,731 3.20%

2021 saw Mid-atlantic Federal Credit Union place emphasis on $200k-400k loans with 153 originations, totaling $43,375,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 111 $35,595,000 $320,676 $3,169 3.17%
$100k-150k 83 $18,895,000 $227,651 $2,920 3.12%
$75k-100k 54 $12,770,000 $236,481 $3,148 3.13%
$250k+ 47 $15,345,000 $326,489 $2,881 3.32%
$50k-75k 46 $8,580,000 $186,522 $2,471 3.04%
$50k or less 12 $2,480,000 $206,667 $2,312 2.96%

Mid-atlantic Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 111 originations. The second most popular income band? $100k-150k, with 83 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 76 $21,940,000 $288,684 $2,753 3.07%
30-36% 65 $17,705,000 $272,385 $3,371 3.19%
<20% 40 $9,720,000 $243,000 $2,380 2.79%
50-60% 29 $5,975,000 $206,034 $2,377 3.53%
41% 20 $5,610,000 $280,500 $2,687 3.16%
40% 16 $4,850,000 $303,125 $3,548 3.00%
43% 13 $3,145,000 $241,923 $2,361 3.32%
48% 12 $3,750,000 $312,500 $3,423 3.48%
42% 12 $3,990,000 $332,500 $3,850 3.09%
36% 10 $2,560,000 $256,000 $2,685 3.06%
47% 10 $1,870,000 $187,000 $3,395 3.38%
39% 10 $2,400,000 $240,000 $2,680 3.20%
44% 9 $2,285,000 $253,889 $2,528 3.08%
37% 9 $3,045,000 $338,333 $3,017 3.22%
49% 8 $1,030,000 $128,750 $3,927 3.45%
38% 8 $2,160,000 $270,000 $2,746 3.14%
46% 4 $880,000 $220,000 $2,423 3.00%
45% 2 $750,000 $375,000 $3,786 3.31%

Mid-atlantic Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 76 originations. The next most common DTI ratio? 30-36%, with 65 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 195 $55,075,000 $282,436 $2,844 3.13%
Black 78 $19,560,000 $250,769 $3,167 3.16%
Asian 65 $16,105,000 $247,769 $2,933 3.15%
Not provided 8 $1,240,000 $155,000 $0 3.56%
Asian Indian 5 $1,235,000 $247,000 $2,610 3.25%
Native Hawaiian 1 $265,000 $265,000 $2,452 2.88%
Other Asian 1 $185,000 $185,000 $2,420 2.38%

Approval Rates

Total approvals of all applications
93.99%

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

Pick Rate

Approvals leading to origination
95.20%

Mid-atlantic Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

Points and Fees

Points Originations Total Value Average Loan
NA 353 $93,665,000 $265,340

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
353 $93,665,000 $265,340

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 77 $16,645,000 $216,169 $2,123 3.36%
40-60% 65 $19,115,000 $294,077 $2,484 2.78%
60-80% 111 $39,405,000 $355,000 $3,171 2.99%
80-100% 33 $11,555,000 $350,152 $3,402 3.17%
Under 20% 67 $6,945,000 $103,657 $1,720 3.53%