Peopleschoice Credit Union Mortgage Rates, Fees & Info
Saco, MELEI: 5493009SFPZZ40DZTK92
Tax ID: 01-6015389
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Mortgage Data
Review & Overview
Peopleschoice Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Peopleschoice 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.)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
113Origination Dollar Volume (All Markets)
$21,415,000Top 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 |
|---|---|---|---|---|---|
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 100 | $18,680,000 | $186,800 | $0 | 0.00% |
| Outside of Metro Areas | 7 | $1,525,000 | $217,857 | $0 | 0.00% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $0 | 0.00% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 113 | $21,415,000 | $189,513 | $0 | 0.00% |
For 2019, Peopleschoice Credit Union's most frequently originated type of loan was Conventional, with 113 originations.
Loan Reason
For 2019, Peopleschoice Credit Union's most frequently cited loan purpose was Home Purchase, with 61 originations. The 2nd most popular reason was Refi, with 26 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 113 | $21,415,000 | $189,513 | $0 | 0.00% |
For 2019, Peopleschoice Credit Union's most frequently cited loan duration was Other, with 113 originations.
Loan Sizing
2019 saw Peopleschoice Credit Union place emphasis on $200k-400k loans with 37 originations, totaling $10,265,000 in origination value.
Applicant Income
Peopleschoice Credit Union lent most frequently to those with incomes in the $50k or less range, with 27 originations. The second most popular income band? $50k-75k, with 24 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 113 | $21,415,000 | $189,513 | $0 | 0.00% |
Peopleschoice Credit Union lent most frequently to those with DTI ratios of Exempt%, with 113 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.90%
Peopleschoice Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination48.67%
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 | 113 | $21,415,000 | $189,513 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION | Conventional home mortgage | Struggling to pay mortgage | 3 | 21.4% |
| PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION | Conventional home mortgage | Trouble during payment process | 4 | 28.6% |
| PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 7.1% |
| PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 2 | 14.3% |
| PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 7.1% |
| PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION | Other type of mortgage | Trouble during payment process | 2 | 14.3% |