Bangor Federal Credit Union Mortgage Rates, Fees & Info
Bangor, MELEI: 549300E14W7X6ZY25478
Tax ID: 01-0241260
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Bangor Federal Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. Bangor Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Bangor.Bangor Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
40Origination Dollar Volume (All Markets)
$4,150,000Top 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 |
|---|---|---|---|---|---|
| BANGOR, ME (FHA|USDA|VA) | 34 | $3,360,000 | $98,824 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $790,000 | $131,667 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 40 | $4,150,000 | $103,750 | $0 | 0.00% |
For 2024, Bangor Federal Credit Union's most frequently originated type of loan was Conventional, with 40 originations.
Loan Reason
For 2024, Bangor Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 17 originations. The 2nd most popular reason was Refi, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 40 | $4,150,000 | $103,750 | $0 | 0.00% |
For 2024, Bangor Federal Credit Union's most frequently cited loan duration was Other, with 40 originations.
Loan Sizing
2024 saw Bangor Federal Credit Union place emphasis on $100,000 or less loans with 27 originations, totaling $1,495,000 in origination value.
Applicant Income
Bangor Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 10 originations. The second most popular income band? $100k-150k, with 8 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 40 | $4,150,000 | $103,750 | $0 | 0.00% |
Bangor Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 40 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 37 | $3,935,000 | $106,351 | $0 | 0.00% |
| Not provided | 3 | $215,000 | $71,667 | $0 | 0.00% |
Approval Rates
Total approvals of all applications82.35%
Bangor Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination95.00%
Bangor Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 40 | $4,150,000 | $103,750 |