Mid-atlantic Federal Credit Union Mortgage Rates, Fees & Info
Germantown, MDLEI: 549300XRGNVNCISU8Q79
Tax ID: 52-0896021
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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.
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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
176Origination Dollar Volume (All Markets)
$36,420,000Relative 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% |
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.
Similarity Rank: 477
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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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications94.95%
Mid-atlantic Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination82.95%
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 |