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 Refi and Home Purchase loans. Bangor Federal Credit Union has a high proportion of conventional loans. Their top two markets are Bangor and Augusta .

    Bangor Federal Credit Union has an above 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

    100

    Origination Dollar Volume (All Markets)

    $12,040,000

    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) 82 $9,290,000 $113,293 $0 0.00%
    Outside of Metro Areas 16 $2,420,000 $151,250 $0 0.00%
    Augusta-Waterville, ME (FHA|USDA|VA) 2 $330,000 $165,000 $0 0.00%
    Bangor Federal Credit Union's top markets include Bangor 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 100 $12,040,000 $120,400 $0 0.00%

    For 2019, Bangor Federal Credit Union's most frequently originated type of loan was Conventional, with 100 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 39 $4,745,000 $121,667 $0 0.00%
    Home Purchase 37 $5,995,000 $162,027 $0 0.00%
    Home Improvement 12 $380,000 $31,667 $0 0.00%
    Other 8 $260,000 $32,500 $0 0.00%
    Cash Out Refi 4 $660,000 $165,000 $0 0.00%

    For 2019, Bangor Federal Credit Union's most frequently cited loan purpose was Refi, with 39 originations. The 2nd most popular reason was Home Purchase, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 100 $12,040,000 $120,400 $0 0.00%

    For 2019, Bangor Federal Credit Union's most frequently cited loan duration was Other, with 100 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 45 $2,175,000 $48,333 $0 0.00%
    $100k-200k 39 $5,745,000 $147,308 $0 0.00%
    $200k-400k 15 $3,585,000 $239,000 $0 0.00%
    $400k-600k 1 $535,000 $535,000 $0 0.00%

    2019 saw Bangor Federal Credit Union place emphasis on $100,000 or less loans with 45 originations, totaling $2,175,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 34 $3,890,000 $114,412 $0 0.00%
    $50k-75k 28 $3,130,000 $111,786 $0 0.00%
    $100k-150k 17 $2,395,000 $140,882 $0 0.00%
    $50k or less 13 $1,085,000 $83,462 $0 0.00%
    $150k-250k 7 $1,005,000 $143,571 $0 0.00%
    $250k+ 1 $535,000 $535,000 $0 0.00%

    Bangor Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 34 originations. The second most popular income band? $50k-75k, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 100 $12,040,000 $120,400 $0 0.00%

    Bangor Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 100 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 94 $11,250,000 $119,681 $0 0.00%
    Not provided 4 $670,000 $167,500 $0 0.00%
    Other Pacific Islander 1 $95,000 $95,000 $0 0.00%
    Other Asian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.75%

    Bangor Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    95.00%

    Bangor Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 100 $12,040,000 $120,400

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $315,000 $315,000
    Single Family (1-4 Units):Manufactured 3 $175,000 $58,333
    Single Family (1-4 Units):Site-Built 96 $11,550,000 $120,313

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    BANCORPSOUTH BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
    BANCORPSOUTH BANK Conventional home mortgage Struggling to pay mortgage 1 16.7%
    BANCORPSOUTH BANK Conventional home mortgage Trouble during payment process 1 16.7%
    BANCORPSOUTH BANK FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
    BANCORPSOUTH BANK Other type of mortgage Closing on a mortgage 2 33.3%