NIH Federal Credit Union Mortgage Interest Rate and Cost Review

Is NIH Federal Credit Union a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by NIH Federal Credit Union to those of other lenders for a comparable set of borrowers. Here is our review of NIH Federal Credit Union nationally:

Review ItemNIH Federal Credit Union
Interest Ratelower than other lenders (-0.15%)
Loan Related Closing Costssimilar to other lenders (-$13)
National Rate and Closing Cost Star Rating(4.5)

On average, NIH Federal Credit Union’s interest rates were lower than those of other lenders (-0.15%). On the other hand, its loan related closing costs were similar to those of other lenders, with a difference of -$13. Overall, combining interest rates and closing costs we estimate that NIH Federal Credit Union tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.5 out of 5 stars. This is an excellent rating and places it among the top 15% of lenders nationwide.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit NIH Federal Credit Union, check out its website at: https://www.nihfcu.org.

NIH Federal Credit Union’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders in your area, click here. In particular, among the cities we track NIH Federal Credit Union was most active in:

  1. Washington, DC
  2. Baltimore, MD
  3. Frederick, MD
  4. Raleigh, NC
  5. Richmond, VA

NIH Federal Credit Union’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, NIH Federal Credit Union originated Conforming mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConforming
Interest Rate Difference-0.10%
Loan Related Closing Cost Difference+$51
Cost Adjusted Rate Difference-0.10%
National Star Rating(4)
Refinance MortgagesConforming
Interest Rate Difference-0.18%
Loan Related Closing Cost Difference-$53
Cost Adjusted Rate Difference-0.19%
Average Star Rating(4.5)

As a summary, NIH Federal Credit Union is cheap for Conforming purchase mortgages. For refinancing, NIH Federal Credit Union is cheap for Conforming mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about NIH Federal Credit Union:

Registered name: National Institutes of Health Federal Credit Union (NIHFCU)
Registered city and state: ROCKVILLE, MD, 20850
Regulator: National Credit Union Administration (NCUA)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for NIH Federal Credit Union’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.