Leominster Credit Union Mortgage Rates, Fees & Info
Leominster, MALEI: 5493008H38W2EPJ8ZQ43
Tax ID: 04-2348884
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Leominster Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Leominster Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Springfield, Barnstable Town, and Vineyard Haven among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Leominster Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
363Origination Dollar Volume (All Markets)
$71,205,000Top 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 |
|---|---|---|---|---|---|
| WORCESTER, MA-CT (FHA|USDA|VA) | 309 | $62,785,000 | $203,188 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 31 | $5,575,000 | $179,839 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 19 | $1,595,000 | $83,947 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $0 | 0.00% |
| Vineyard Haven, MA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against LEOMINSTER CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 363 | $71,205,000 | $196,157 | $0 | 0.00% |
For 2021, Leominster Credit Union's most frequently originated type of loan was Conventional, with 363 originations.
Loan Reason
For 2021, Leominster Credit Union's most frequently cited loan purpose was Cash Out Refi, with 168 originations. The 2nd most popular reason was Home Purchase, with 90 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 363 | $71,205,000 | $196,157 | $0 | 0.00% |
For 2021, Leominster Credit Union's most frequently cited loan duration was Other, with 363 originations.
Loan Sizing
2021 saw Leominster Credit Union place emphasis on $200k-400k loans with 159 originations, totaling $43,615,000 in origination value.
Applicant Income
Leominster Credit Union lent most frequently to those with incomes in the $100k-150k range, with 101 originations. The second most popular income band? $50k-75k, with 80 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 363 | $71,205,000 | $196,157 | $0 | 0.00% |
Leominster Credit Union lent most frequently to those with DTI ratios of Exempt%, with 363 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.36%
Leominster Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination78.79%
Leominster Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 363 | $71,205,000 | $196,157 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Lima One Capital, LLC | Conventional home mortgage | Trouble during payment process | 2 | 28.6% |
| Lima One Capital, LLC | Other type of mortgage | Closing on a mortgage | 2 | 28.6% |
| Lima One Capital, LLC | Other type of mortgage | Struggling to pay mortgage | 1 | 14.3% |
| Lima One Capital, LLC | Other type of mortgage | Trouble during payment process | 2 | 28.6% |