Peopleschoice Credit Union Mortgage Rates, Fees & Info

Saco, ME

LEI: 5493009SFPZZ40DZTK92

Tax ID: 01-6015389

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Peopleschoice Credit Union is a smaller credit union specializing in Home Purchase loans. Peopleschoice Credit Union has a high proportion of conventional loans. Their top two markets are Portland and Augusta .

    Peopleschoice 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

    97

    Origination Dollar Volume (All Markets)

    $27,595,000

    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
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 88 $25,970,000 $295,114 $0 0.00%
    Outside of Metro Areas 8 $1,350,000 $168,750 $0 0.00%
    Augusta-Waterville, ME (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    Peopleschoice Credit Union's top markets include Portland and Augusta among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 97 $27,595,000 $284,485 $0 0.00%

    For 2024, Peopleschoice Credit Union's most frequently originated type of loan was Conventional, with 97 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 46 $19,470,000 $423,261 $0 0.00%
    Refi 25 $5,415,000 $216,600 $0 0.00%
    Other 15 $1,325,000 $88,333 $0 0.00%
    Home Improvement 11 $1,385,000 $125,909 $0 0.00%

    For 2024, Peopleschoice Credit Union's most frequently cited loan purpose was Home Purchase, with 46 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 97 $27,595,000 $284,485 $0 0.00%

    For 2024, Peopleschoice Credit Union's most frequently cited loan duration was Other, with 97 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 25 $6,785,000 $271,400 $0 0.00%
    $100,000 or less 23 $1,345,000 $58,478 $0 0.00%
    $400k-600k 23 $10,355,000 $450,217 $0 0.00%
    $100k-200k 19 $2,785,000 $146,579 $0 0.00%
    $600k-1MM 4 $2,960,000 $740,000 $0 0.00%
    $1MM+ 3 $3,365,000 $1,121,667 $0 0.00%

    2024 saw Peopleschoice Credit Union place emphasis on $200k-400k loans with 25 originations, totaling $6,785,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 21 $4,095,000 $195,000 $0 0.00%
    $150k-250k 20 $7,870,000 $393,500 $0 0.00%
    $100k-150k 18 $6,380,000 $354,444 $0 0.00%
    $50k or less 17 $2,865,000 $168,529 $0 0.00%
    $50k-75k 11 $2,035,000 $185,000 $0 0.00%
    $250k+ 9 $3,945,000 $438,333 $0 0.00%

    Peopleschoice Credit Union lent most frequently to those with incomes in the $75k-100k range, with 21 originations. The second most popular income band? $150k-250k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 97 $27,595,000 $284,485 $0 0.00%

    Peopleschoice Credit Union lent most frequently to those with DTI ratios of Exempt%, with 97 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 84 $24,380,000 $290,238 $0 0.00%
    Not provided 13 $3,215,000 $247,308 $0 0.00%

    Approval Rates

    Total approvals of all applications
    82.30%

    Peopleschoice Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    18.56%

    Peopleschoice Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 97 $27,595,000 $284,485

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    97 $27,595,000 $284,485