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 an 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
65Origination Dollar Volume (All Markets)
$8,795,000Awards
MAINE FAMILY - 2022
MAINE FAMILY is a 2022 , due to their low .
For 2022, 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) | 55 | $7,215,000 | $131,182 | $1,600 | 3.65% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 5 | $685,000 | $137,000 | $1,636 | 3.75% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $2,372 | 3.50% |
| Outside of Metro Areas | 3 | $305,000 | $101,667 | $1,610 | 3.54% |
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.
Similarity Rank: 8
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 65 | $8,795,000 | $135,308 | $1,627 | 3.65% |
For 2022, Maine Family's most frequently originated type of loan was Conventional, with 65 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 60 | $7,880,000 | $131,333 | $1,578 | 3.57% |
| Home Purchase | 5 | $915,000 | $183,000 | $2,213 | 4.60% |
For 2022, Maine Family's most frequently cited loan purpose was Refi, with 60 originations. The 2nd most popular reason was Home Purchase, with 5 originations.
Loan Duration/Length
For 2022, Maine Family's most frequently cited loan duration was 30 Year, with 26 originations. The 2nd most popular length was 15 Year, with 24 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 65 | $8,795,000 | $135,308 |
Maine Family's average total fees were $1,732, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 65 originations.
Interest Rates
During 2022, Maine Family's average interest rate for loans was 3.76%, while their most frequently originated rate bucket for loans was 3-4%, with 28 originations.
Loan Sizing
2022 saw Maine Family place emphasis on $100k-200k loans with 38 originations, totaling $5,650,000 in origination value.
Applicant Income
Maine Family lent most frequently to those with incomes in the $75k-100k range, with 20 originations. The second most popular income band? $50k-75k, with 15 originations.
Applicant Debt to Income Ratio
Maine Family lent most frequently to those with DTI ratios of 20-30%, with 26 originations. The next most common DTI ratio? 30-36%, with 14 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 63 | $8,635,000 | $137,063 | $1,647 | 3.61% |
| Asian | 1 | $105,000 | $105,000 | $1,645 | 4.00% |
| Black | 1 | $55,000 | $55,000 | $362 | 5.50% |
Approval Rates
Total approvals of all applications70.92%
Maine Family has a below average approval rate.
Pick Rate
Approvals leading to origination86.15%
Maine Family has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 65 | $8,795,000 | $135,308 |