Bangor Federal Credit Union Mortgage Rates, Fees & Info
Bangor, MELEI: 549300E14W7X6ZY25478
Tax ID: 01-0241260
Latest/2023 | 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 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
69Origination Dollar Volume (All Markets)
$7,095,000Top 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) | 56 | $5,510,000 | $98,393 | $0 | 0.00% |
| Outside of Metro Areas | 13 | $1,585,000 | $121,923 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 69 | $7,095,000 | $102,826 | $0 | 0.00% |
For 2022, Bangor Federal Credit Union's most frequently originated type of loan was Conventional, with 69 originations.
Loan Reason
For 2022, Bangor Federal Credit Union's most frequently cited loan purpose was Refi, with 34 originations. The 2nd most popular reason was Home Improvement, with 17 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 69 | $7,095,000 | $102,826 | $0 | 0.00% |
For 2022, Bangor Federal Credit Union's most frequently cited loan duration was Other, with 69 originations.
Loan Sizing
2022 saw Bangor Federal Credit Union place emphasis on $100,000 or less loans with 36 originations, totaling $1,740,000 in origination value.
Applicant Income
Bangor Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $50k-75k, with 20 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 69 | $7,095,000 | $102,826 | $0 | 0.00% |
Bangor Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 69 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 62 | $6,390,000 | $103,065 | $0 | 0.00% |
| Not provided | 7 | $705,000 | $100,714 | $0 | 0.00% |
Approval Rates
Total approvals of all applications89.87%
Bangor Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination97.10%
Bangor Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 69 | $7,095,000 | $102,826 |