Maine Community Bank Mortgage Rates, Fees & Info

Biddeford, ME

LEI: 549300HK8HC6F50IC896

Tax ID: 01-0029610

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Maine Community Bank is a smaller bank specializing in Home Purchase loans. Maine Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Lewiston, Augusta, and Bangor among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Maine Community Bank 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.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.57% 11/3/24
30 Year Conventional Refi 6.62% 11/3/24
30 Year Cash-out Refi 6.78% 11/3/24
30 Year USDA Purchase 6.56% 11/3/24
15 Year Conventional Purchase 6.28% 11/3/24
15 Year Conventional Refi 6.33% 11/3/24
15 Year Cash-out Refi 6.33% 11/3/24
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 Community Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Maine Community Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

310

Origination Dollar Volume (All Markets)

$88,790,000

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
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 193 $60,645,000 $314,223 $0 0.00%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 63 $13,855,000 $219,921 $0 0.00%
Outside of Metro Areas 32 $8,510,000 $265,938 $0 0.00%
Augusta-Waterville, ME (FHA|USDA|VA) 19 $5,005,000 $263,421 $0 0.00%
BANGOR, ME (FHA|USDA|VA) 3 $775,000 $258,333 $0 0.00%
Maine Community Bank's top markets include Portland, Lewiston, Augusta, and Bangor among others.

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

    We use machine learning to identify the top lenders compared against Maine Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Saco Valley Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 310 $88,790,000 $286,419 $0 0.00%

    For 2023, Maine Community Bank's most frequently originated type of loan was Conventional, with 310 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 146 $58,500,000 $400,685 $0 0.00%
    Home Improvement 74 $8,970,000 $121,216 $0 0.00%
    Refi 50 $12,580,000 $251,600 $0 0.00%
    Other 30 $6,090,000 $203,000 $0 0.00%
    Cash Out Refi 10 $2,650,000 $265,000 $0 0.00%

    For 2023, Maine Community Bank's most frequently cited loan purpose was Home Purchase, with 146 originations. The 2nd most popular reason was Home Improvement, with 74 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 310 $88,790,000 $286,419 $0 0.00%

    For 2023, Maine Community Bank's most frequently cited loan duration was Other, with 310 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 88 $25,030,000 $284,432 $0 0.00%
    $100k-200k 82 $11,780,000 $143,659 $0 0.00%
    $100,000 or less 76 $4,150,000 $54,605 $0 0.00%
    $400k-600k 44 $21,640,000 $491,818 $0 0.00%
    $600k-1MM 13 $8,835,000 $679,615 $0 0.00%
    $1MM+ 7 $17,355,000 $2,479,286 $0 0.00%

    2023 saw Maine Community Bank place emphasis on $200k-400k loans with 88 originations, totaling $25,030,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 75 $19,155,000 $255,400 $0 0.00%
    $100k-150k 59 $9,355,000 $158,559 $0 0.00%
    $250k+ 56 $25,380,000 $453,214 $0 0.00%
    $50k-75k 33 $3,415,000 $103,485 $0 0.00%
    $75k-100k 22 $2,960,000 $134,545 $0 0.00%
    $50k or less 7 $475,000 $67,857 $0 0.00%

    Maine Community Bank lent most frequently to those with incomes in the $150k-250k range, with 75 originations. The second most popular income band? $100k-150k, with 59 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 310 $88,790,000 $286,419 $0 0.00%

    Maine Community Bank lent most frequently to those with DTI ratios of Exempt%, with 310 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 220 $53,640,000 $243,818 $0 0.00%
    Not applicable 54 $27,420,000 $507,778 $0 0.00%
    Not provided 29 $5,875,000 $202,586 $0 0.00%
    Asian 5 $1,435,000 $287,000 $0 0.00%
    American Indian 2 $420,000 $210,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.43%

    Maine Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.52%

    Maine Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 310 $88,790,000 $286,419

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    310 $88,790,000 $286,419