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

Germantown, MD

LEI: 549300XRGNVNCISU8Q79

Tax ID: 52-0896021

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Mid-atlantic Federal Credit Union is a smaller credit union specializing in Home Improvement, Refi, 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, Phoenix, Denver, and Tampa 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 an above 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% 4/21/24
    30 Year Conventional Refi 6.23% 4/21/24
    30 Year Cash-out Refi 6.29% 4/21/24
    15 Year Conventional Refi 6.00% 4/21/24
    15 Year Cash-out Refi 6.00% 4/21/24
    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.

    Mid-atlantic Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Mid-atlantic Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    171

    Origination Dollar Volume (All Markets)

    $31,395,000

    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 silver
    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 153 $27,645,000 $180,686 $2,399 4.97%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 9 $1,825,000 $202,778 $3,385 4.69%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $600,000 $300,000 $5,257 4.81%
    Outside of Metro Areas 1 $265,000 $265,000 $3,178 4.25%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $265,000 $265,000 $2,129 4.25%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $265,000 $265,000 $3,270 5.00%
    HUNTSVILLE, AL (FHA|USDA|VA) 2 $230,000 $115,000 $1,247 6.19%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $225,000 $225,000 $0 4.50%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $75,000 $75,000 $4,756 5.88%
    Mid-atlantic Federal Credit Union's top markets include Washington, Baltimore, Phoenix, Denver, and Tampa among others.

    Their top states include:
  • Maryland (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (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.

    APL
    Similarity Rank: 32
    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 54
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 126
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 126
    POINT BREEZE
    Similarity Rank: 252
    Bank of Clarke County
    Similarity Rank: 320
    LIBRARY OF CONGRESS
    Similarity Rank: 448
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 450
    ACNB Bank
    Similarity Rank: 684
    EDUCATIONAL SYSTEMS
    Similarity Rank: 1188

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 91 $21,915,000 $240,824 $2,622 4.88%
    HELOC 80 $9,480,000 $118,500 n/a 5.07%

    For 2018, Mid-atlantic Federal Credit Union's most frequently originated type of loan was Conventional, with 91 originations. Their 2nd most popular type was HELOC, with 80 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 75 $8,925,000 $119,000 $1,839 5.15%
    Refi 56 $11,030,000 $196,964 $2,846 4.78%
    Home Purchase 32 $8,440,000 $263,750 $2,499 4.98%
    Cash Out Refi 8 $3,000,000 $375,000 $2,688 4.58%

    For 2018, Mid-atlantic Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 75 originations. The 2nd most popular reason was Refi, with 56 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 88 $21,990,000 $249,886 $3,084 4.82%
    15 Year 54 $6,550,000 $121,296 $0 4.88%
    Other 21 $2,105,000 $100,238 $0 5.44%
    20 Year 8 $750,000 $93,750 $714 6.00%

    For 2018, Mid-atlantic Federal Credit Union's most frequently cited loan duration was 30 Year, with 88 originations. The 2nd most popular length was 15 Year, with 54 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 37 $13,705,000 $370,405
    $2k-3k 2 $440,000 $220,000
    $1k-2k 1 $85,000 $85,000
    $4k-5k 1 $455,000 $455,000

    Mid-atlantic Federal Credit Union's average total fees were $3,084, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 37 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 87 $19,295,000 $221,782
    5-6% 72 $8,470,000 $117,639
    3-4% 7 $3,105,000 $443,571
    6-7% 1 $125,000 $125,000
    7-8% 1 $45,000 $45,000

    During 2018, Mid-atlantic Federal Credit Union's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 4-5%, with 87 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 77 $4,825,000 $62,662 $1,628 5.14%
    $100k-200k 41 $5,585,000 $136,220 $1,339 5.05%
    $200k-400k 32 $8,630,000 $269,688 $2,637 4.82%
    $400k-600k 14 $6,430,000 $459,286 $3,510 4.47%
    $600k-1MM 6 $4,400,000 $733,333 $3,157 4.19%
    $1MM+ 1 $1,525,000 $1,525,000 $5,599 4.50%

    2018 saw Mid-atlantic Federal Credit Union place emphasis on $100,000 or less loans with 77 originations, totaling $4,825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 65 $8,945,000 $137,615 $0 5.16%
    $100k-150k 33 $5,585,000 $169,242 $2,102 4.91%
    $150k-250k 29 $7,825,000 $269,828 $3,245 4.82%
    $75k-100k 20 $2,490,000 $124,500 $2,247 5.05%
    $250k+ 15 $4,875,000 $325,000 $3,844 4.74%
    $50k-75k 9 $1,675,000 $186,111 $1,971 4.39%

    Mid-atlantic Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 65 originations. The second most popular income band? $100k-150k, with 33 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 29 $4,275,000 $147,414 $2,727 4.90%
    50-60% 24 $4,290,000 $178,750 $2,456 5.17%
    30-36% 16 $2,720,000 $170,000 $2,726 5.16%
    <20% 13 $2,445,000 $188,077 $3,178 4.73%
    45% 10 $1,290,000 $129,000 $749 5.00%
    39% 9 $875,000 $97,222 $0 5.06%
    41% 8 $1,050,000 $131,250 $1,728 4.82%
    42% 7 $1,195,000 $170,714 $3,343 5.41%
    36% 7 $1,705,000 $243,571 $2,365 4.89%
    47% 7 $1,135,000 $162,143 $2,129 4.89%
    49% 6 $2,090,000 $348,333 $5,599 5.10%
    43% 6 $1,240,000 $206,667 $2,423 4.85%
    44% 5 $615,000 $123,000 $1,493 5.30%
    38% 5 $1,205,000 $241,000 $3,117 4.65%
    48% 5 $1,245,000 $249,000 $2,640 4.98%
    37% 4 $520,000 $130,000 $3,446 4.44%
    46% 3 $635,000 $211,667 $3,319 4.46%
    40% 2 $160,000 $80,000 $0 5.25%
    >60% 1 $105,000 $105,000 $0 0.00%

    Mid-atlantic Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 29 originations. The next most common DTI ratio? 50-60%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 82 $14,290,000 $174,268 $3,351 4.91%
    White 44 $9,510,000 $216,136 $2,777 4.94%
    Asian 25 $4,265,000 $170,600 $2,079 4.98%
    Black 18 $3,160,000 $175,556 $2,194 5.22%
    Asian Indian 1 $115,000 $115,000 $0 5.25%
    Vietnamese 1 $55,000 $55,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    90.87%

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

    Pick Rate

    Approvals leading to origination
    90.06%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 171 $31,395,000 $183,596

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 171 $31,395,000 $183,596

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 42 $6,330,000 $150,714 $1,437 5.08%
    40-60% 13 $3,605,000 $277,308 $2,526 4.80%
    60-80% 17 $6,355,000 $373,824 $3,248 4.38%
    80-100% 11 $5,625,000 $511,364 $3,090 4.56%
    Over 100% 1 $95,000 $95,000 $0 5.50%
    Under 20% 85 $8,255,000 $97,118 $682 5.12%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Mid-Atlantic Solutions Holdings, LLC Conventional home mortgage Struggling to pay mortgage 1 100.0%