Acadia Federal Credit Union Mortgage Rates, Fees & Info
Fort Kent, MELEI: 254900KPCI98XVKU8U39
Tax ID: 01-0270833
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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 a low ratio of conventional loans. Their top markets by origination volume include: Bangor, Portland, Lewiston, and The Villages 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 a below 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
238Origination Dollar Volume (All Markets)
$24,190,000Top 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 | 193 | $17,845,000 | $92,461 | $1,030 | 3.75% |
| BANGOR, ME (FHA|USDA|VA) | 41 | $5,495,000 | $134,024 | $1,091 | 2.88% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $0 | 0.00% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 232 | $23,700,000 | $102,155 | $0 | 0.00% |
| Conventional | 6 | $490,000 | $81,667 | $1,076 | 3.17% |
For 2021, Acadia Federal Credit Union's most frequently originated type of loan was Conventional, with 232 originations. Their 2nd most popular type was Conventional, with 6 originations.
Loan Reason
For 2021, Acadia Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 89 originations. The 2nd most popular reason was Refi, with 64 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 233 | $23,865,000 | $102,425 | $0 | 2.50% |
| 30 Year | 3 | $165,000 | $55,000 | $755 | 3.58% |
| 15 Year | 2 | $160,000 | $80,000 | $1,397 | 2.88% |
For 2021, Acadia Federal Credit Union's most frequently cited loan duration was Other, with 233 originations. The 2nd most popular length was 30 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 3 | $375,000 | $125,000 |
Acadia Federal Credit Union's average total fees were $755, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 4 | $220,000 | $55,000 |
| <2.5% | 2 | $270,000 | $135,000 |
During 2021, Acadia Federal Credit Union's average interest rate for loans was 3.58%, while their most frequently originated rate bucket for loans was 3-4%, with 4 originations.
Loan Sizing
2021 saw Acadia Federal Credit Union place emphasis on $100,000 or less loans with 147 originations, totaling $7,915,000 in origination value.
Applicant Income
Acadia Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 70 originations. The second most popular income band? $50k-75k, with 63 originations.
Applicant Debt to Income Ratio
Acadia Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 232 originations. The next most common DTI ratio? 40%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 236 | $24,110,000 | $102,161 | $1,076 | 3.17% |
| Black | 2 | $80,000 | $40,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.98%
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 origination88.24%
Acadia Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 232 | $23,700,000 | $102,155 |
| NA | 6 | $490,000 | $81,667 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Activus Corporation | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |