Mid-atlantic Federal Credit Union Mortgage Rates, Fees & Info
Germantown, MDLEI: 549300XRGNVNCISU8Q79
Tax ID: 52-0896021
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Mortgage Data
Review & 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 by origination volume include: Washington, Baltimore, Hagerstown, New York, and Salisbury among others. We have data for 17 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
353Origination Dollar Volume (All Markets)
$93,665,000Awards
Mid-Atlantic Federal Credit Union - 2021
Mid-Atlantic Federal Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 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% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 217 | $70,275,000 | $323,848 | $2,931 | 2.90% |
| HELOC | 135 | $23,285,000 | $172,481 | n/a | 3.55% |
| FHA | 1 | $105,000 | $105,000 | $0 | 3.75% |
For 2021, Mid-atlantic Federal Credit Union's most frequently originated type of loan was Conventional, with 217 originations. Their 2nd most popular type was HELOC, with 135 originations.
Loan Reason
For 2021, Mid-atlantic Federal Credit Union's most frequently cited loan purpose was Refi, with 144 originations. The 2nd most popular reason was Other, with 133 originations.
Loan Duration/Length
For 2021, Mid-atlantic Federal Credit Union's most frequently cited loan duration was 15 Year, with 174 originations. The 2nd most popular length was 30 Year, with 167 originations.
Origination Fees/Closing Costs
Mid-atlantic Federal Credit Union's average total fees were $3,018, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.02%, while their most frequently originated rate bucket for loans was 3-4%, with 196 originations.
Loan Sizing
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
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
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
Approval Rates
Total approvals of all applications94.47%
Mid-atlantic Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination94.90%
Mid-atlantic Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 353 | $93,665,000 | $265,340 |