Merced School Employees Federal Credit Union Mortgage Rates, Fees & Info
Merced, CALEI: 549300Y37WHI3S8KVE74
Tax ID: 94-1284984
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Mortgage Data
Review & Overview
Merced School Employees Federal Credit Union is a smaller credit union specializing in Cash Out Refi, 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 average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.
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Originations
161Origination Dollar Volume (All Markets)
$24,795,000Top 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) | 150 | $22,870,000 | $152,467 | $0 | 0.00% |
| Outside of Metro Areas | 11 | $1,925,000 | $175,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 161 | $24,795,000 | $154,006 | $0 | 0.00% |
For 2018, Merced School Employees Federal Credit Union's most frequently originated type of loan was Conventional, with 161 originations.
Loan Reason
For 2018, Merced School Employees Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 61 originations. The 2nd most popular reason was Refi, with 34 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 161 | $24,795,000 | $154,006 | $0 | 0.00% |
For 2018, Merced School Employees Federal Credit Union's most frequently cited loan duration was Other, with 161 originations.
Loan Sizing
2018 saw Merced School Employees Federal Credit Union place emphasis on $100,000 or less loans with 60 originations, totaling $3,500,000 in origination value.
Applicant Income
Merced School Employees Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 43 originations. The second most popular income band? $100k-150k, with 42 originations.
Applicant Debt to Income Ratio
Merced School Employees Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 56 originations. The next most common DTI ratio? 30-36%, with 43 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.17%
Merced School Employees Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination94.41%
Merced School Employees Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 161 | $24,795,000 | $154,006 |