Town & Country Federal Credit Union Mortgage Rates, Fees & Info

Scarborough, ME

LEI: 549300BKCQISE9PR4J88

Tax ID: 01-0232897

5 stars - Updated: 11/17/24 - out of 5 stars, based on 24 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Town & Country Federal Credit Union is a smaller credit union specializing in Home Improvement, Cash Out Refi, and Home Purchase loans. Town & Country Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Lewiston, Augusta, and Bangor among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Town & Country Federal 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. Town & Country 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 relatively high 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.90% 11/17/24
    30 Year Conventional Refi 6.44% 11/17/24
    30 Year Cash-out Refi 6.90% 11/17/24
    15 Year Conventional Purchase 5.84% 11/17/24
    15 Year Conventional Refi 5.62% 11/17/24
    15 Year Cash-out Refi 5.62% 11/17/24
    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.

    Town & Country 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 Town & Country 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

    579

    Origination Dollar Volume (All Markets)

    $66,285,000

    Awards

    TOWN & COUNTRY FEDERAL CREDIT UNION 30 Year Conventional Loans gold TOWN & COUNTRY FEDERAL CREDIT UNION 30 Year Conventional Loans silver
    Show all (2) awards

    Relative Rate

    Town & Country Federal Credit Union's average 30 year fixed mortgage rate was 7.7%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 1.22%.

    Relative Fees (Closing Costs)

    Town & Country Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,297.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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) 533 $61,885,000 $116,107 $856 7.41%
    Outside of Metro Areas 17 $1,995,000 $117,353 $2,147 7.25%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 16 $1,100,000 $68,750 $877 6.69%
    Augusta-Waterville, ME (FHA|USDA|VA) 10 $850,000 $85,000 $1,112 7.20%
    BANGOR, ME (FHA|USDA|VA) 3 $455,000 $151,667 $1,022 6.79%
    Town & Country Federal Credit Union's top markets include Portland, Lewiston, Augusta, and Bangor among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against TOWN & COUNTRY FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Saco Valley Credit Union
    Similarity Rank: 64
    Holy Rosary Regional Credit Union
    Similarity Rank: 104
    Bath Savings Institution
    Similarity Rank: 115
    Norway Savings Bank
    Similarity Rank: 126
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 150
    CUMBERLAND COUNTY
    Similarity Rank: 200
    EVERGREEN
    Similarity Rank: 204
    Androscoggin Savings Bank
    Similarity Rank: 235
    University Credit Union
    Similarity Rank: 370
    CUSO MORTGAGE CORPORATION
    Similarity Rank: 372

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 372 $44,190,000 $118,790 $913 6.88%
    HELOC 207 $22,095,000 $106,739 n/a 8.27%

    For 2023, Town & Country Federal Credit Union's most frequently originated type of loan was Conventional, with 372 originations. Their 2nd most popular type was HELOC, with 207 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 250 $18,810,000 $75,240 $218 7.65%
    Cash Out Refi 125 $15,445,000 $123,560 $773 7.25%
    Other 109 $6,165,000 $56,560 $257 7.35%
    Home Purchase 79 $24,555,000 $310,823 $3,323 6.93%
    Refi 16 $1,310,000 $81,875 $350 6.54%

    For 2023, Town & Country Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 250 originations. The 2nd most popular reason was Cash Out Refi, with 125 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 222 $41,550,000 $187,162 $3,297 7.70%
    15 Year 113 $10,075,000 $89,159 $279 7.19%
    10 Year 72 $4,590,000 $63,750 $219 6.90%
    3 Year 69 $5,235,000 $75,870 $250 8.20%
    5 Year 62 $2,560,000 $41,290 $208 6.42%
    Other 40 $2,120,000 $53,000 $206 7.08%
    20 Year 1 $155,000 $155,000 $2,584 6.25%

    For 2023, Town & Country Federal Credit Union's most frequently cited loan duration was 30 Year, with 222 originations. The 2nd most popular length was 15 Year, with 113 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 366 $42,480,000 $116,066
    $3k-4k 2 $720,000 $360,000
    $1k-2k 1 $125,000 $125,000
    $2k-3k 1 $285,000 $285,000
    $4k-5k 1 $215,000 $215,000
    $5k+ 1 $365,000 $365,000

    Town & Country Federal Credit Union's average total fees were $3,297, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 366 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 252 $33,700,000 $133,730
    Over 8% 170 $17,460,000 $102,706
    7-8% 137 $13,365,000 $97,555
    5-6% 19 $1,725,000 $90,789
    3-4% 1 $35,000 $35,000

    During 2023, Town & Country Federal Credit Union's average interest rate for loans was 7.70%, while their most frequently originated rate bucket for loans was 6-7%, with 252 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 358 $17,850,000 $49,860 $292 7.37%
    $100k-200k 133 $17,755,000 $133,496 $1,052 7.54%
    $200k-400k 60 $16,310,000 $271,833 $2,879 7.14%
    $400k-600k 23 $10,435,000 $453,696 $3,642 7.29%
    $600k-1MM 4 $2,830,000 $707,500 $3,732 6.72%
    $1MM+ 1 $1,105,000 $1,105,000 $5,143 6.75%

    2023 saw Town & Country Federal Credit Union place emphasis on $100,000 or less loans with 358 originations, totaling $17,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 171 $19,365,000 $113,246 $937 7.31%
    $150k-250k 124 $16,990,000 $137,016 $795 7.47%
    $75k-100k 110 $10,430,000 $94,818 $658 7.42%
    $50k-75k 99 $7,655,000 $77,323 $817 7.35%
    $50k or less 37 $2,375,000 $64,189 $1,016 7.33%
    $250k+ 30 $8,550,000 $285,000 $3,120 7.39%

    Town & Country Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 171 originations. The second most popular income band? $150k-250k, with 124 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 135 $14,115,000 $104,556 $792 7.46%
    20-30% 126 $13,260,000 $105,238 $803 7.34%
    <20% 55 $5,175,000 $94,091 $894 7.29%
    41% 27 $3,035,000 $112,407 $893 7.51%
    36% 25 $2,545,000 $101,800 $561 7.47%
    38% 24 $3,330,000 $138,750 $1,254 7.10%
    37% 22 $2,040,000 $92,727 $825 7.31%
    47% 19 $2,975,000 $156,579 $987 7.20%
    50-60% 19 $1,745,000 $91,842 $447 7.15%
    45% 18 $1,700,000 $94,444 $637 7.45%
    40% 17 $4,225,000 $248,529 $1,954 7.32%
    42% 16 $2,130,000 $133,125 $2,122 7.39%
    43% 14 $1,510,000 $107,857 $795 7.54%
    39% 13 $1,965,000 $151,154 $759 7.61%
    46% 12 $1,610,000 $134,167 $932 7.56%
    44% 11 $1,165,000 $105,909 $1,223 7.60%
    49% 10 $1,370,000 $137,000 $1,408 7.65%
    48% 8 $1,470,000 $183,750 $1,451 6.76%
    >60% 1 $135,000 $135,000 $0 8.00%

    Town & Country Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 135 originations. The next most common DTI ratio? 20-30%, with 126 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 523 $59,745,000 $114,235 $885 7.39%
    Not provided 38 $4,380,000 $115,263 $807 7.52%
    Asian 8 $1,030,000 $128,750 $1,839 6.74%
    Black 6 $480,000 $80,000 $832 6.83%
    American Indian 3 $395,000 $131,667 $2,014 6.75%
    Vietnamese 1 $255,000 $255,000 $2,788 7.00%

    Approval Rates

    Total approvals of all applications
    86.82%

    Town & Country Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.99%

    Town & Country Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 579 $66,285,000 $114,482

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    579 $66,285,000 $114,482

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 126 $17,290,000 $137,222 $577 7.62%
    40-60% 30 $7,040,000 $234,667 $2,529 7.16%
    60-80% 38 $11,580,000 $304,737 $3,343 6.98%
    80-100% 29 $10,825,000 $373,276 $3,171 6.68%
    Under 20% 356 $19,550,000 $54,916 $216 7.41%