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 Refi loans. Acadia Federal Credit Union has a high proportion of conventional loans. Acadia Federal Credit Union has an average proportion of conventional loans. Their top two markets are Bangor and Portland .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. Acadia Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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Originations
183Origination Dollar Volume (All Markets)
$17,395,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 159 | $15,185,000 | $95,503 | $1,371 | 4.00% |
| BANGOR, ME (FHA|USDA|VA) | 23 | $1,845,000 | $80,217 | $1,112 | 3.87% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,124 | 2.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 162 | $15,130,000 | $93,395 | $0 | 0.00% |
| Conventional | 19 | $2,145,000 | $112,895 | $1,335 | 3.91% |
| HELOC | 2 | $120,000 | $60,000 | n/a | 3.25% |
For 2020, Acadia Federal Credit Union's most frequently originated type of loan was Conventional, with 162 originations. Their 2nd most popular type was Conventional, with 19 originations.
Loan Reason
For 2020, Acadia Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 79 originations. The 2nd most popular reason was Other, with 43 originations.
Loan Duration/Length
For 2020, Acadia Federal Credit Union's most frequently cited loan duration was Other, with 164 originations. The 2nd most popular length was 30 Year, with 13 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 16 | $1,870,000 | $116,875 |
Acadia Federal Credit Union's average total fees were $1,302, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 16 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 11 | $945,000 | $85,909 |
| 4-5% | 4 | $400,000 | $100,000 |
| 5-6% | 3 | $435,000 | $145,000 |
| 2.5-3% | 2 | $120,000 | $60,000 |
| <2.5% | 1 | $365,000 | $365,000 |
During 2020, Acadia Federal Credit Union's average interest rate for loans was 3.77%, while their most frequently originated rate bucket for loans was 3-4%, with 11 originations.
Loan Sizing
2020 saw Acadia Federal Credit Union place emphasis on $100,000 or less loans with 117 originations, totaling $5,825,000 in origination value.
Applicant Income
Acadia Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 47 originations. The second most popular income band? $75k-100k, with 41 originations.
Applicant Debt to Income Ratio
Acadia Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 162 originations. The next most common DTI ratio? 20-30%, with 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.59%
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 origination97.27%
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 |
|---|---|---|---|
| 0.0 | 2 | $120,000 | $60,000 |
| Exempt | 162 | $15,130,000 | $93,395 |
| NA | 19 | $2,145,000 | $112,895 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 28 | $3,020,000 | $107,857 |
| Single Family (1-4 Units):Site-Built | 155 | $14,375,000 | $92,742 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Activus Corporation | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 100.0% |