Mid-atlantic Federal Credit Union Mortgage Rates, Fees & Info
Germantown, MDLEI: 549300XRGNVNCISU8Q79
Tax ID: 52-0896021
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Mid-atlantic Federal Credit Union is a smaller credit union specializing in Refi 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 by origination volume include: Washington, Baltimore, Salisbury, Charleston, and Houston among others. We have data for 30 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% | 12/16/24 |
| 30 Year Conventional Refi | 6.23% | 12/16/24 |
| 30 Year Cash-out Refi | 6.29% | 12/16/24 |
| 15 Year Conventional Refi | 6.00% | 12/16/24 |
| 15 Year Cash-out Refi | 6.00% | 12/16/24 |
| 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
360Origination Dollar Volume (All Markets)
$102,990,000Awards
Mid-Atlantic Federal Credit Union - 2020
Mid-Atlantic Federal Credit Union is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
Work for Mid-Atlantic Federal Credit Union?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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) | 298 | $85,430,000 | $286,678 | $2,795 | 3.22% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 24 | $7,140,000 | $297,500 | $2,672 | 2.97% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 4 | $1,510,000 | $377,500 | $2,987 | 2.88% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $980,000 | $490,000 | $2,708 | 3.25% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $2,871 | 2.63% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $2,800 | 3.19% |
| LYNCHBURG, VA (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $3,089 | 3.25% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $2,224 | 3.13% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $3,953 | 2.88% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $1,819 | 3.75% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $2,810 | 3.06% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,830 | 3.75% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $1,852 | 2.88% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,790 | 3.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,633 | 3.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,260 | 3.50% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,071 | 3.00% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $1,826 | 2.63% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,535 | 2.88% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,520 | 2.63% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,769 | 2.88% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,448 | 3.13% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,823 | 2.25% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $1,591 | 3.38% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,743 | 2.25% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,268 | 2.25% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,286 | 3.25% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,083 | 2.75% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,289 | 3.50% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,366 | 3.00% |
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: 271
Similarity Rank: 1100
Similarity Rank: 1122
Similarity Rank: 1296
Similarity Rank: 1465
Similarity Rank: 1506
Similarity Rank: 1782
Similarity Rank: 1920
Similarity Rank: 1935
Similarity Rank: 2314
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 266 | $89,880,000 | $337,895 | $2,702 | 2.94% |
| HELOC | 91 | $11,915,000 | $130,934 | n/a | 3.91% |
| FHA | 3 | $1,195,000 | $398,333 | $10,777 | 3.25% |
For 2020, Mid-atlantic Federal Credit Union's most frequently originated type of loan was Conventional, with 266 originations. Their 2nd most popular type was HELOC, with 91 originations.
Loan Reason
For 2020, Mid-atlantic Federal Credit Union's most frequently cited loan purpose was Refi, with 192 originations. The 2nd most popular reason was Other, with 83 originations.
Loan Duration/Length
For 2020, Mid-atlantic Federal Credit Union's most frequently cited loan duration was 30 Year, with 216 originations. The 2nd most popular length was 15 Year, with 86 originations.
Origination Fees/Closing Costs
Mid-atlantic Federal Credit Union's average total fees were $2,870, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 199 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 160 | $42,780,000 | $267,375 |
| 2.5-3% | 140 | $45,610,000 | $325,786 |
| <2.5% | 38 | $11,350,000 | $298,684 |
| 5-6% | 12 | $1,340,000 | $111,667 |
| 4-5% | 10 | $1,910,000 | $191,000 |
During 2020, Mid-atlantic Federal Credit Union's average interest rate for loans was 3.02%, while their most frequently originated rate bucket for loans was 3-4%, with 160 originations.
Loan Sizing
2020 saw Mid-atlantic Federal Credit Union place emphasis on $200k-400k loans with 175 originations, totaling $50,965,000 in origination value.
Applicant Income
Mid-atlantic Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 101 originations. The second most popular income band? $100k-150k, with 99 originations.
Applicant Debt to Income Ratio
Mid-atlantic Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 105 originations. The next most common DTI ratio? <20%, with 63 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.33%
Mid-atlantic Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination98.89%
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 | 360 | $102,990,000 | $286,083 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 360 | $102,990,000 | $286,083 |