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

Scarborough, ME

LEI: 549300BKCQISE9PR4J88

Tax ID: 01-0232897

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Cash Out Refi and Refi loans. Town & Country Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Portland.

    Town & Country Federal 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. 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 about average 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.90% 5/4/24
    30 Year Conventional Refi 6.44% 5/4/24
    30 Year Cash-out Refi 6.90% 5/4/24
    15 Year Conventional Purchase 5.84% 5/4/24
    15 Year Conventional Refi 5.62% 5/4/24
    15 Year Cash-out Refi 5.62% 5/4/24
    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

    490

    Origination Dollar Volume (All Markets)

    $77,870,000

    Awards

    TOWN & COUNTRY FEDERAL CREDIT UNION 30 Year Conventional Loans gold
    Show all (1) awards

    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) 457 $72,735,000 $159,158 $1,752 3.71%
    Outside of Metro Areas 33 $5,135,000 $155,606 $2,189 3.81%
    Town & Country Federal Credit Union's top markets include and Portland 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.

    Piscataqua Savings Bank
    Similarity Rank: 136
    CUMBERLAND COUNTY
    Similarity Rank: 176
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 222
    CASCO
    Similarity Rank: 324
    Maine Savings Federal Credit Union
    Similarity Rank: 476
    FIVE COUNTY
    Similarity Rank: 484
    Kennebec Savings Bank
    Similarity Rank: 490
    CUSO MORTGAGE CORPORATION
    Similarity Rank: 534
    University Credit Union
    Similarity Rank: 540
    MEMBERS MORTGAGE COMPANY, INC.
    Similarity Rank: 570

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 490 $77,870,000 $158,918 $1,782 3.71%

    For 2020, Town & Country Federal Credit Union's most frequently originated type of loan was Conventional, with 490 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 219 $41,055,000 $187,466 $1,978 3.65%
    Refi 105 $18,915,000 $180,143 $2,197 3.49%
    Home Improvement 64 $2,740,000 $42,813 $253 3.78%
    Home Purchase 62 $13,550,000 $218,548 $2,917 3.90%
    Other 40 $1,610,000 $40,250 $301 4.25%

    For 2020, Town & Country Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 219 originations. The 2nd most popular reason was Refi, with 105 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 164 $37,460,000 $228,415 $2,814 3.86%
    15 Year 129 $16,475,000 $127,713 $1,223 3.76%
    10 Year 68 $5,840,000 $85,882 $800 3.77%
    20 Year 64 $14,550,000 $227,344 $2,770 3.49%
    5 Year 39 $1,645,000 $42,179 $215 3.16%
    Other 26 $1,900,000 $73,077 $529 3.81%

    For 2020, Town & Country Federal Credit Union's most frequently cited loan duration was 30 Year, with 164 originations. The 2nd most popular length was 15 Year, with 129 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 479 $75,305,000 $157,213
    $1k-2k 4 $1,110,000 $277,500
    $2k-3k 4 $670,000 $167,500
    $4k-5k 3 $785,000 $261,667

    Town & Country Federal Credit Union's average total fees were $2,814, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 479 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 321 $55,235,000 $172,072
    4-5% 86 $10,830,000 $125,930
    2.5-3% 68 $10,960,000 $161,176
    5-6% 15 $845,000 $56,333

    During 2020, Town & Country Federal Credit Union's average interest rate for loans was 3.86%, while their most frequently originated rate bucket for loans was 3-4%, with 321 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 173 $8,085,000 $46,734 $356 3.88%
    $200k-400k 158 $41,340,000 $261,646 $2,741 3.61%
    $100k-200k 146 $22,060,000 $151,096 $2,305 3.63%
    $400k-600k 11 $5,025,000 $456,818 $3,137 3.74%
    $600k-1MM 2 $1,360,000 $680,000 $3,667 3.44%

    2020 saw Town & Country Federal Credit Union place emphasis on $100,000 or less loans with 173 originations, totaling $8,085,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 130 $21,810,000 $167,769 $1,652 3.65%
    $50k-75k 119 $15,565,000 $130,798 $1,724 3.86%
    $75k-100k 98 $15,300,000 $156,122 $1,940 3.67%
    $50k or less 59 $6,145,000 $104,153 $1,529 3.74%
    $150k-250k 57 $11,635,000 $204,123 $1,850 3.70%
    $250k+ 14 $4,400,000 $314,286 $2,364 3.60%

    Town & Country Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 130 originations. The second most popular income band? $50k-75k, with 119 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 136 $20,850,000 $153,309 $1,639 3.60%
    30-36% 110 $18,900,000 $171,818 $1,809 3.78%
    <20% 61 $7,585,000 $124,344 $1,395 3.60%
    44% 18 $2,920,000 $162,222 $1,876 3.83%
    37% 16 $2,790,000 $174,375 $2,181 3.77%
    36% 15 $1,945,000 $129,667 $1,873 3.76%
    38% 15 $1,785,000 $119,000 $1,724 3.72%
    42% 12 $2,040,000 $170,000 $2,050 3.75%
    40% 12 $1,700,000 $141,667 $1,432 3.80%
    43% 12 $2,410,000 $200,833 $1,541 3.93%
    46% 11 $1,805,000 $164,091 $2,323 3.90%
    39% 11 $2,325,000 $211,364 $2,227 3.53%
    41% 11 $1,675,000 $152,273 $2,352 3.78%
    47% 10 $2,200,000 $220,000 $2,318 4.00%
    48% 8 $1,280,000 $160,000 $2,415 3.62%
    49% 7 $1,215,000 $173,571 $1,514 4.14%
    45% 7 $1,275,000 $182,143 $2,407 4.03%
    50-60% 6 $360,000 $60,000 $1,007 4.33%

    Town & Country Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 136 originations. The next most common DTI ratio? 30-36%, with 110 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 411 $64,475,000 $156,873 $1,795 3.73%
    Not provided 62 $9,600,000 $154,839 $1,552 3.60%
    American Indian 6 $1,170,000 $195,000 $2,645 3.64%
    Other Asian 1 $675,000 $675,000 $3,267 4.00%
    Black 5 $625,000 $125,000 $1,682 3.80%
    Asian 2 $540,000 $270,000 $2,754 3.81%
    Other Pacific Islander 1 $385,000 $385,000 $2,828 4.25%
    Korean 1 $325,000 $325,000 $2,784 3.25%
    Asian Indian 1 $75,000 $75,000 $250 3.99%

    Approval Rates

    Total approvals of all applications
    93.37%

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

    Pick Rate

    Approvals leading to origination
    73.47%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 490 $77,870,000 $158,918

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $345,000 $69,000
    Single Family (1-4 Units):Site-Built 485 $77,525,000 $159,845

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 72 $7,270,000 $100,972 $1,115 3.66%
    40-60% 73 $13,555,000 $185,685 $2,200 3.49%
    60-80% 148 $34,780,000 $235,000 $2,719 3.68%
    80-100% 68 $17,000,000 $250,000 $2,881 3.78%
    Under 20% 129 $5,265,000 $40,814 $262 3.88%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Town & Country Mortgage Services, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%