Merced School Employees Federal Credit Union Mortgage Rates, Fees & Info
Merced, CALEI: 549300Y37WHI3S8KVE74
Tax ID: 94-1284984
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Merced School Employees Federal Credit Union is a smaller credit union specializing in Home Improvement, Cash Out Refi, and Home Purchase loans. Merced School Employees Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Merced.Merced School Employees 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.
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Originations
131Origination Dollar Volume (All Markets)
$20,385,000Top 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 |
|---|---|---|---|---|---|
| MERCED, CA (FHA|USDA|VA) | 103 | $14,435,000 | $140,146 | $0 | 0.00% |
| Outside of Metro Areas | 28 | $5,950,000 | $212,500 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 131 | $20,385,000 | $155,611 | $0 | 0.00% |
For 2023, Merced School Employees Federal Credit Union's most frequently originated type of loan was Conventional, with 131 originations.
Loan Reason
For 2023, Merced School Employees Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 49 originations. The 2nd most popular reason was Other, with 30 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 131 | $20,385,000 | $155,611 | $0 | 0.00% |
For 2023, Merced School Employees Federal Credit Union's most frequently cited loan duration was Other, with 131 originations.
Loan Sizing
2023 saw Merced School Employees Federal Credit Union place emphasis on $100,000 or less loans with 59 originations, totaling $3,605,000 in origination value.
Applicant Income
Merced School Employees Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 47 originations. The second most popular income band? $150k-250k, with 26 originations.
Applicant Debt to Income Ratio
Merced School Employees Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 34 originations. The next most common DTI ratio? 30-36%, with 31 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.53%
Merced School Employees Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination96.95%
Merced School Employees 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 |
|---|---|---|---|
| Exempt | 131 | $20,385,000 | $155,611 |