Saco Valley Credit Union Mortgage Rates, Fees & Info

Saco, ME

LEI: 254900PZD34K8KYJD223

Tax ID: 01-0203515

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Saco Valley Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. Saco Valley Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Augusta, and Lewiston among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Saco Valley 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. Saco Valley 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.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.39% 11/17/24
    30 Year Conventional Refi 5.90% 11/17/24
    30 Year Cash-out Refi 6.37% 11/17/24
    15 Year Conventional Purchase 5.68% 11/17/24
    15 Year Conventional Refi 6.02% 11/17/24
    15 Year Cash-out Refi 6.02% 11/17/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Saco Valley Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Saco Valley Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    100

    Origination Dollar Volume (All Markets)

    $20,080,000

    Awards

    Saco Valley Credit Union 30 Year Conventional Loans gold Saco Valley Credit Union 30 Year Conventional Loans silver
    Show all (2) awards

    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
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 95 $18,755,000 $197,421 $2,295 3.84%
    Outside of Metro Areas 3 $725,000 $241,667 $2,412 3.71%
    Augusta-Waterville, ME (FHA|USDA|VA) 1 $405,000 $405,000 $1,554 3.25%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 1 $195,000 $195,000 $2,557 3.88%
    Saco Valley Credit Union's top markets include Portland, Augusta, and Lewiston among others.

    Their top states include:
  • Maine (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Saco Valley Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Piscataqua Savings Bank
    Similarity Rank: 52
    CASCO
    Similarity Rank: 126
    Maine Savings Federal Credit Union
    Similarity Rank: 161
    CUMBERLAND COUNTY
    Similarity Rank: 320
    ATLANTIC REGIONAL FEDERAL CREDIT UNION
    Similarity Rank: 320
    Saco Valley Credit Union
    Similarity Rank: 328
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 336
    INTEGRITY MORTGAGE LLC
    Similarity Rank: 350
    NORTHEAST CREDIT UNION
    Similarity Rank: 352
    FIVE COUNTY
    Similarity Rank: 355

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 100 $20,080,000 $200,800 $2,294 3.83%

    For 2019, Saco Valley Credit Union's most frequently originated type of loan was Conventional, with 100 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 41 $7,715,000 $188,171 $2,221 3.40%
    Cash Out Refi 35 $7,035,000 $201,000 $2,180 4.05%
    Home Purchase 19 $4,465,000 $235,000 $2,818 4.18%
    Home Improvement 4 $820,000 $205,000 $1,794 3.69%
    NA 1 $45,000 $45,000 $2,246 7.75%

    For 2019, Saco Valley Credit Union's most frequently cited loan purpose was Refi, with 41 originations. The 2nd most popular reason was Cash Out Refi, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 25 $4,865,000 $194,600 $2,249 3.59%
    20 Year 22 $4,830,000 $219,545 $2,387 3.82%
    Other 19 $3,625,000 $190,789 $2,253 3.98%
    30 Year 18 $3,920,000 $217,778 $2,532 4.62%
    10 Year 13 $2,485,000 $191,154 $2,097 3.28%
    5 Year 3 $355,000 $118,333 $1,771 2.58%

    For 2019, Saco Valley Credit Union's most frequently cited loan duration was 15 Year, with 25 originations. The 2nd most popular length was 20 Year, with 22 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 100 $20,080,000 $200,800

    Saco Valley Credit Union's average total fees were $2,532, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 100 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 64 $13,130,000 $205,156
    4-5% 22 $5,080,000 $230,909
    2.5-3% 8 $1,070,000 $133,750
    5-6% 3 $465,000 $155,000
    <2.5% 2 $290,000 $145,000
    7-8% 1 $45,000 $45,000

    During 2019, Saco Valley Credit Union's average interest rate for loans was 4.62%, while their most frequently originated rate bucket for loans was 3-4%, with 64 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 39 $5,945,000 $152,436 $2,288 3.77%
    $200k-400k 39 $10,055,000 $257,821 $2,424 3.88%
    $100,000 or less 15 $975,000 $65,000 $1,757 3.77%
    $400k-600k 7 $3,105,000 $443,571 $2,896 4.02%

    2019 saw Saco Valley Credit Union place emphasis on $100k-200k loans with 39 originations, totaling $5,945,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 26 $4,550,000 $175,000 $2,393 3.93%
    $75k-100k 24 $4,930,000 $205,417 $2,206 3.61%
    $100k-150k 17 $3,165,000 $186,176 $2,384 3.72%
    $50k or less 17 $1,995,000 $117,353 $1,935 4.01%
    $150k-250k 9 $2,745,000 $305,000 $2,476 3.86%
    $250k+ 5 $2,135,000 $427,000 $2,852 3.92%

    Saco Valley Credit Union lent most frequently to those with incomes in the $50k-75k range, with 26 originations. The second most popular income band? $75k-100k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 25 $5,205,000 $208,200 $2,242 3.78%
    30-36% 18 $3,680,000 $204,444 $2,396 3.87%
    40% 10 $2,000,000 $200,000 $2,455 3.44%
    43% 9 $1,715,000 $190,556 $2,433 4.44%
    44% 7 $1,315,000 $187,857 $1,843 3.69%
    38% 7 $1,235,000 $176,429 $2,083 3.87%
    39% 6 $1,430,000 $238,333 $2,477 3.52%
    <20% 5 $685,000 $137,000 $2,086 3.82%
    42% 4 $780,000 $195,000 $2,427 3.72%
    36% 3 $475,000 $158,333 $2,508 4.37%
    48% 2 $470,000 $235,000 $1,924 3.25%
    41% 1 $295,000 $295,000 $2,469 3.75%
    50-60% 1 $235,000 $235,000 $2,232 4.63%

    Saco Valley Credit Union lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? 30-36%, with 18 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 99 $19,785,000 $199,848 $2,301 3.83%
    Asian 1 $295,000 $295,000 $1,608 3.25%

    Approval Rates

    Total approvals of all applications
    96.75%

    Saco Valley 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 origination
    88.00%

    Saco Valley Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 100 $20,080,000 $200,800

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $45,000 $45,000
    Single Family (1-4 Units):Site-Built 99 $20,035,000 $202,374

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $1,045,000 $95,000 $1,980 3.44%
    40-60% 18 $2,740,000 $152,222 $2,233 3.77%
    60-80% 47 $10,685,000 $227,340 $2,347 3.84%
    80-100% 20 $5,330,000 $266,500 $2,631 4.18%
    Over 100% 1 $185,000 $185,000 $0 3.99%
    Under 20% 3 $95,000 $31,667 $1,039 3.13%