Acadia Federal Credit Union Mortgage Rates, Fees & Info
Fort Kent, MELEI: 254900KPCI98XVKU8U39
Tax ID: 01-0270833
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Mortgage Data
Review & Overview
Acadia Federal Credit Union is a smaller credit union specializing in Home Purchase and Other loans. Acadia Federal Credit Union has a high proportion of conventional loans. Acadia Federal Credit Union has a low ratio of conventional loans. Their top markets by origination volume include: Bangor, The Villages, Augusta, and Portland among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Acadia 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. They typically have relatively high rates.
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Originations
206Origination Dollar Volume (All Markets)
$25,320,000Relative Rate
Acadia Federal Credit Union's average 30 year fixed mortgage rate was
6.5%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.02%.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 155 | $15,295,000 | $98,677 | $0 | 8.50% |
| BANGOR, ME (FHA|USDA|VA) | 47 | $8,645,000 | $183,936 | $0 | 6.50% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $0 | 0.00% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 0.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 203 | $24,905,000 | $122,685 | $0 | 0.00% |
| Conventional | 2 | $240,000 | $120,000 | $0 | 6.50% |
| HELOC | 1 | $175,000 | $175,000 | n/a | 8.50% |
For 2023, Acadia Federal Credit Union's most frequently originated type of loan was Conventional, with 203 originations. Their 2nd most popular type was Conventional, with 2 originations.
Loan Reason
For 2023, Acadia Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 83 originations. The 2nd most popular reason was Other, with 59 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 205 | $25,115,000 | $122,512 | $0 | 8.50% |
| 30 Year | 1 | $205,000 | $205,000 | $0 | 6.50% |
For 2023, Acadia Federal Credit Union's most frequently cited loan duration was Other, with 205 originations. The 2nd most popular length was 30 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $205,000 | $205,000 |
Acadia Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 1 | $205,000 | $205,000 |
| Over 8% | 1 | $175,000 | $175,000 |
During 2023, Acadia Federal Credit Union's average interest rate for loans was 6.50%, while their most frequently originated rate bucket for loans was 6-7%, with 1 originations.
Loan Sizing
2023 saw Acadia Federal Credit Union place emphasis on $100,000 or less loans with 114 originations, totaling $6,060,000 in origination value.
Applicant Income
Acadia Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 50 originations. The second most popular income band? $100k-150k, with 46 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 203 | $24,905,000 | $122,685 | $0 | 0.00% |
| 41% | 1 | $205,000 | $205,000 | $0 | 6.50% |
Acadia Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 203 originations. The next most common DTI ratio? 41%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.65%
Acadia Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination97.09%
Acadia 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 | 203 | $24,905,000 | $122,685 |
| NA | 3 | $415,000 | $138,333 |