Maine Family Mortgage Rates, Fees & Info
Lewiston, MELEI: 549300E2QBYW1NW41140
Tax ID: 01-0216309
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Mortgage Data
Review & Overview
Maine Family is a smaller mortgage company specializing in Refi loans. Maine Family has a high proportion of conventional loans. Their top markets by origination volume include: Lewiston, Augusta, and Portland among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Maine Family has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Maine Family 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.93% | 11/21/24 |
| 30 Year Conventional Refi | 6.32% | 11/21/24 |
| 30 Year Cash-out Refi | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 5.21% | 11/21/24 |
| 15 Year Conventional Refi | 5.68% | 11/21/24 |
| 15 Year Cash-out Refi | 5.68% | 11/21/24 |
| 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. | ||
Maine Family Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
119Origination Dollar Volume (All Markets)
$17,065,000Awards
MAINE FAMILY - 2021
MAINE FAMILY is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 103 | $14,605,000 | $141,796 | $1,605 | 2.71% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 9 | $1,305,000 | $145,000 | $1,608 | 2.75% |
| Outside of Metro Areas | 5 | $625,000 | $125,000 | $1,512 | 2.58% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $1,662 | 2.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against MAINE FAMILY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 119 | $17,065,000 | $143,403 | $1,603 | 2.70% |
For 2021, Maine Family's most frequently originated type of loan was Conventional, with 119 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 112 | $16,220,000 | $144,821 | $1,565 | 2.69% |
| Home Purchase | 7 | $845,000 | $120,714 | $2,199 | 2.86% |
For 2021, Maine Family's most frequently cited loan purpose was Refi, with 112 originations. The 2nd most popular reason was Home Purchase, with 7 originations.
Loan Duration/Length
For 2021, Maine Family's most frequently cited loan duration was 15 Year, with 34 originations. The 2nd most popular length was 20 Year, with 32 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 119 | $17,065,000 | $143,403 |
Maine Family's average total fees were $1,647, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 119 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 66 | $11,160,000 | $169,091 |
| <2.5% | 52 | $5,760,000 | $110,769 |
| 3-4% | 1 | $145,000 | $145,000 |
During 2021, Maine Family's average interest rate for loans was 3.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 66 originations.
Loan Sizing
2021 saw Maine Family place emphasis on $100k-200k loans with 68 originations, totaling $9,530,000 in origination value.
Applicant Income
Maine Family lent most frequently to those with incomes in the $50k-75k range, with 33 originations. The second most popular income band? $100k-150k, with 31 originations.
Applicant Debt to Income Ratio
Maine Family lent most frequently to those with DTI ratios of 20-30%, with 44 originations. The next most common DTI ratio? 30-36%, with 25 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 118 | $16,880,000 | $143,051 | $1,601 | 2.70% |
| Asian | 1 | $185,000 | $185,000 | $1,802 | 2.75% |
Approval Rates
Total approvals of all applications63.16%
Maine Family has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination89.92%
Maine Family has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 119 | $17,065,000 | $143,403 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MANN FINANCIAL INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 50.0% |
| MANN FINANCIAL INC. | Conventional home mortgage | Trouble during payment process | 2 | 50.0% |