Seaboard Federal Credit Union Mortgage Rates, Fees & Info

Bucksport, ME

LEI: 549300043MOZCJ4RK371

Tax ID: 01-0211675

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
  • Complaints
  • 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

    Seaboard Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Other loans. Seaboard Federal Credit Union has a high proportion of conventional loans. Their top two markets are Bangor and Augusta .

    Seaboard 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. Seaboard 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.

    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 6.65% 11/23/24
    30 Year Conventional Refi 6.34% 11/23/24
    30 Year Cash-out Refi 6.63% 11/23/24
    15 Year Conventional Purchase 8.32% 11/23/24
    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.

    Seaboard Federal Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Seaboard Federal 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

    178

    Origination Dollar Volume (All Markets)

    $15,780,000

    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 124 $10,820,000 $87,258 $1,692 5.58%
    BANGOR, ME (FHA|USDA|VA) 52 $4,570,000 $87,885 $1,582 4.98%
    Augusta-Waterville, ME (FHA|USDA|VA) 2 $390,000 $195,000 $4,007 4.38%
    Seaboard Federal Credit Union's top markets include Bangor and Augusta among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 178 $15,780,000 $88,652 $1,674 5.39%

    For 2019, Seaboard Federal Credit Union's most frequently originated type of loan was Conventional, with 178 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 84 $7,790,000 $92,738 $1,135 4.92%
    Home Purchase 38 $2,800,000 $73,684 $2,519 5.58%
    Other 31 $3,505,000 $113,065 $2,818 6.40%
    Refi 17 $875,000 $51,471 $877 4.54%
    Home Improvement 7 $645,000 $92,143 $3,606 7.80%
    NA 1 $165,000 $165,000 $0 4.88%

    For 2019, Seaboard Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 84 originations. The 2nd most popular reason was Home Purchase, with 38 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 43 $2,305,000 $53,605 $586 4.94%
    15 Year 42 $4,070,000 $96,905 $1,578 5.82%
    30 Year 39 $5,605,000 $143,718 $2,974 4.66%
    20 Year 21 $2,895,000 $137,857 $2,547 4.48%
    Other 19 $625,000 $32,895 $840 7.75%
    5 Year 13 $275,000 $21,154 $129 5.60%
    3 Year 1 $5,000 $5,000 $0 10.90%

    For 2019, Seaboard Federal Credit Union's most frequently cited loan duration was 10 Year, with 43 originations. The 2nd most popular length was 15 Year, with 42 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 119 $9,335,000 $78,445
    $1k-2k 15 $2,395,000 $159,667

    Seaboard Federal Credit Union's average total fees were $2,974, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 119 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 100 $8,570,000 $85,700
    5-6% 26 $1,550,000 $59,615
    3-4% 24 $4,910,000 $204,583
    Over 8% 19 $405,000 $21,316
    7-8% 4 $180,000 $45,000
    % 2 $70,000 $35,000
    6-7% 1 $35,000 $35,000

    During 2019, Seaboard Federal Credit Union's average interest rate for loans was 4.66%, while their most frequently originated rate bucket for loans was 4-5%, with 100 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 116 $4,720,000 $40,690 $1,093 5.86%
    $100k-200k 48 $6,690,000 $139,375 $2,566 4.59%
    $200k-400k 12 $2,960,000 $246,667 $3,139 4.23%
    $1MM+ 1 $1,005,000 $1,005,000 $0 4.00%
    $400k-600k 1 $405,000 $405,000 $0 4.00%

    2019 saw Seaboard Federal Credit Union place emphasis on $100,000 or less loans with 116 originations, totaling $4,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 70 $3,860,000 $55,143 $1,518 5.95%
    $50k-75k 43 $3,095,000 $71,977 $1,429 5.21%
    $100k-150k 32 $3,640,000 $113,750 $1,916 4.77%
    $75k-100k 24 $4,360,000 $181,667 $2,160 4.94%
    $150k-250k 7 $685,000 $97,857 $1,055 5.38%
    $250k+ 2 $140,000 $70,000 $2,678 5.13%

    Seaboard 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 43 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 48 $1,970,000 $41,042 $1,305 6.47%
    20-30% 45 $3,805,000 $84,556 $1,663 5.11%
    30-36% 25 $3,275,000 $131,000 $2,010 4.63%
    >60% 12 $1,200,000 $100,000 $2,237 5.03%
    50-60% 11 $1,305,000 $118,636 $2,033 5.34%
    38% 4 $270,000 $67,500 $1,554 6.06%
    39% 4 $490,000 $122,500 $2,026 4.50%
    37% 4 $190,000 $47,500 $626 4.63%
    36% 3 $425,000 $141,667 $1,668 5.13%
    43% 3 $225,000 $75,000 $560 4.83%
    44% 3 $375,000 $125,000 $1,675 4.46%
    40% 2 $160,000 $80,000 $2,603 6.25%
    48% 2 $100,000 $50,000 $126 5.00%
    42% 2 $230,000 $115,000 $2,805 5.13%
    47% 1 $195,000 $195,000 $2,487 4.38%
    49% 1 $125,000 $125,000 $2,138 4.50%
    41% 1 $185,000 $185,000 $2,325 3.50%

    Seaboard Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 48 originations. The next most common DTI ratio? 20-30%, with 45 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 177 $15,775,000 $89,124 $1,686 5.39%
    Asian 1 $5,000 $5,000 $135 4.50%

    Approval Rates

    Total approvals of all applications
    94.85%

    Seaboard Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    96.63%

    Seaboard 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
    NA 178 $15,780,000 $88,652

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 19 $1,395,000 $73,421
    Single Family (1-4 Units):Site-Built 159 $14,385,000 $90,472

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 34 $1,520,000 $44,706 $309 5.13%
    40-60% 20 $1,700,000 $85,000 $1,167 5.01%
    60-80% 59 $7,135,000 $120,932 $2,517 4.96%
    80-100% 28 $3,640,000 $130,000 $3,065 4.98%
    Over 100% 2 $1,040,000 $520,000 $2,151 6.25%
    Under 20% 21 $425,000 $20,238 $234 4.80%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Shapiro, DiCaro & Barak, LLC Conventional home mortgage Trouble during payment process 1 100.0%