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 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
144Origination Dollar Volume (All Markets)
$25,770,000Top 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) | 130 | $22,310,000 | $171,615 | $0 | 0.00% |
| Outside of Metro Areas | 14 | $3,460,000 | $247,143 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 144 | $25,770,000 | $178,958 | $0 | 0.00% |
For 2022, Merced School Employees Federal Credit Union's most frequently originated type of loan was Conventional, with 144 originations.
Loan Reason
For 2022, Merced School Employees Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 66 originations. The 2nd most popular reason was Home Improvement, with 27 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 144 | $25,770,000 | $178,958 | $0 | 0.00% |
For 2022, Merced School Employees Federal Credit Union's most frequently cited loan duration was Other, with 144 originations.
Loan Sizing
2022 saw Merced School Employees Federal Credit Union place emphasis on $200k-400k loans with 53 originations, totaling $15,095,000 in origination value.
Applicant Income
Merced School Employees Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 36 originations. The second most popular income band? $50k-75k, with 31 originations.
Applicant Debt to Income Ratio
Merced School Employees Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 36 originations. The next most common DTI ratio? 20-30%, with 35 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.82%
Merced School Employees Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination90.28%
Merced School Employees Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 144 | $25,770,000 | $178,958 |