Bangor Federal Credit Union Mortgage Rates, Fees & Info

Bangor, ME

LEI: 549300E14W7X6ZY25478

Tax ID: 01-0241260

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

    Bangor Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Bangor Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bangor, Portland, and Augusta among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bangor 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.

    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

    82

    Origination Dollar Volume (All Markets)

    $8,350,000

    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
    BANGOR, ME (FHA|USDA|VA) 66 $6,480,000 $98,182 $0 0.00%
    Outside of Metro Areas 12 $1,230,000 $102,500 $0 0.00%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 2 $410,000 $205,000 $0 0.00%
    Augusta-Waterville, ME (FHA|USDA|VA) 2 $230,000 $115,000 $0 0.00%
    Bangor Federal Credit Union's top markets include Bangor, Portland, and Augusta among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 82 $8,350,000 $101,829 $0 0.00%

    For 2018, Bangor Federal Credit Union's most frequently originated type of loan was Conventional, with 82 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 27 $4,515,000 $167,222 $0 0.00%
    Refi 24 $2,230,000 $92,917 $0 0.00%
    Home Improvement 15 $655,000 $43,667 $0 0.00%
    Other 15 $835,000 $55,667 $0 0.00%
    Cash Out Refi 1 $115,000 $115,000 $0 0.00%

    For 2018, Bangor Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 82 $8,350,000 $101,829 $0 0.00%

    For 2018, Bangor Federal Credit Union's most frequently cited loan duration was Other, with 82 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 48 $2,550,000 $53,125 $0 0.00%
    $100k-200k 27 $4,025,000 $149,074 $0 0.00%
    $200k-400k 6 $1,320,000 $220,000 $0 0.00%
    $400k-600k 1 $455,000 $455,000 $0 0.00%

    2018 saw Bangor Federal Credit Union place emphasis on $100,000 or less loans with 48 originations, totaling $2,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 23 $1,985,000 $86,304 $0 0.00%
    $100k-150k 21 $1,875,000 $89,286 $0 0.00%
    $75k-100k 19 $1,995,000 $105,000 $0 0.00%
    $50k or less 14 $1,470,000 $105,000 $0 0.00%
    $150k-250k 4 $850,000 $212,500 $0 0.00%
    $250k+ 1 $175,000 $175,000 $0 0.00%

    Bangor Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 23 originations. The second most popular income band? $100k-150k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 82 $8,350,000 $101,829 $0 0.00%

    Bangor Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 82 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 78 $7,740,000 $99,231 $0 0.00%
    Not provided 3 $465,000 $155,000 $0 0.00%
    American Indian 1 $145,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.20%

    Bangor Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.02%

    Bangor Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 82 $8,350,000 $101,829

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $130,000 $65,000
    Single Family (1-4 Units):Site-Built 80 $8,220,000 $102,750

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BANCORPSOUTH BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 33.3%
    BANCORPSOUTH BANK FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
    BANCORPSOUTH BANK FHA mortgage Trouble during payment process 1 16.7%
    BANCORPSOUTH BANK Other type of mortgage Struggling to pay mortgage 1 16.7%
    BANCORPSOUTH BANK Other type of mortgage Trouble during payment process 1 16.7%