Peopleschoice Credit Union Mortgage Rates, Fees & Info

Saco, ME

LEI: 5493009SFPZZ40DZTK92

Tax ID: 01-6015389

Latest/2023 | 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
  • 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

    Peopleschoice Credit Union is a smaller credit union specializing in Refi and Home Purchase 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 above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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.

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    Originations

    148

    Origination Dollar Volume (All Markets)

    $32,070,000

    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) 136 $30,400,000 $223,529 $0 0.00%
    Outside of Metro Areas 6 $1,010,000 $168,333 $0 0.00%
    Augusta-Waterville, ME (FHA|USDA|VA) 4 $360,000 $90,000 $0 0.00%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 2 $300,000 $150,000 $0 0.00%
    Peopleschoice Credit Union's top markets include Portland, Augusta, and Lewiston among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 148 $32,070,000 $216,689 $0 0.00%

    For 2020, Peopleschoice Credit Union's most frequently originated type of loan was Conventional, with 148 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 78 $16,380,000 $210,000 $0 0.00%
    Home Purchase 58 $13,310,000 $229,483 $0 0.00%
    Home Improvement 12 $2,380,000 $198,333 $0 0.00%

    For 2020, Peopleschoice Credit Union's most frequently cited loan purpose was Refi, with 78 originations. The 2nd most popular reason was Home Purchase, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 148 $32,070,000 $216,689 $0 0.00%

    For 2020, Peopleschoice Credit Union's most frequently cited loan duration was Other, with 148 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 59 $16,105,000 $272,966 $0 0.00%
    $100k-200k 46 $7,210,000 $156,739 $0 0.00%
    $100,000 or less 31 $1,875,000 $60,484 $0 0.00%
    $400k-600k 7 $3,345,000 $477,857 $0 0.00%
    $600k-1MM 5 $3,535,000 $707,000 $0 0.00%

    2020 saw Peopleschoice Credit Union place emphasis on $200k-400k loans with 59 originations, totaling $16,105,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 34 $6,940,000 $204,118 $0 0.00%
    $50k or less 34 $5,880,000 $172,941 $0 0.00%
    $100k-150k 24 $4,620,000 $192,500 $0 0.00%
    $150k-250k 18 $5,000,000 $277,778 $0 0.00%
    $75k-100k 17 $3,655,000 $215,000 $0 0.00%
    $250k+ 3 $1,625,000 $541,667 $0 0.00%

    Peopleschoice Credit Union lent most frequently to those with incomes in the $50k-75k range, with 34 originations. The second most popular income band? $50k or less, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 148 $32,070,000 $216,689 $0 0.00%

    Peopleschoice Credit Union lent most frequently to those with DTI ratios of Exempt%, with 148 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 124 $26,100,000 $210,484 $0 0.00%
    Not provided 13 $3,105,000 $238,846 $0 0.00%
    Not applicable 8 $1,750,000 $218,750 $0 0.00%
    Asian 2 $720,000 $360,000 $0 0.00%
    Other Asian 1 $395,000 $395,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.07%

    Peopleschoice Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    41.22%

    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 148 $32,070,000 $216,689

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $935,000 $311,667
    Single Family (1-4 Units):Manufactured 5 $595,000 $119,000
    Single Family (1-4 Units):Site-Built 140 $30,540,000 $218,143

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Other type of mortgage Struggling to pay mortgage 1 5.6%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 5.6%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Trouble during payment process 2 11.1%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 11.1%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 1 5.6%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 4 22.2%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 6 33.3%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION FHA mortgage Struggling to pay mortgage 1 5.6%