Maine Community Bank Mortgage Rates, Fees & Info
Biddeford, MELEI: 549300HK8HC6F50IC896
Tax ID: 01-0029610
Latest/2024 | 2023 Data | 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. They have a low ratio of USDA 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 above 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.
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Originations
189Origination Dollar Volume (All Markets)
$69,095,000Top 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 |
|---|---|---|---|---|---|
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 115 | $49,175,000 | $427,609 | $0 | 0.00% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 45 | $12,365,000 | $274,778 | $0 | 0.00% |
| Outside of Metro Areas | 16 | $4,470,000 | $279,375 | $0 | 0.00% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 12 | $3,000,000 | $250,000 | $0 | 0.00% |
| BANGOR, ME (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
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.
Similarity Rank: 15
Similarity Rank: 70
Similarity Rank: 136
Similarity Rank: 145
Similarity Rank: 232
Similarity Rank: 280
Similarity Rank: 300
Similarity Rank: 396
Similarity Rank: 525
Similarity Rank: 594
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 187 | $68,685,000 | $367,299 | $0 | 0.00% |
| USDA | 2 | $410,000 | $205,000 | $0 | 0.00% |
For 2024, Maine Community Bank's most frequently originated type of loan was Conventional, with 187 originations. Their 2nd most popular type was USDA, with 2 originations.
Loan Reason
For 2024, Maine Community Bank's most frequently cited loan purpose was Home Purchase, with 116 originations. The 2nd most popular reason was Home Improvement, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 189 | $69,095,000 | $365,582 | $0 | 0.00% |
For 2024, Maine Community Bank's most frequently cited loan duration was Other, with 189 originations.
Loan Sizing
2024 saw Maine Community Bank place emphasis on $200k-400k loans with 76 originations, totaling $21,540,000 in origination value.
Applicant Income
Maine Community Bank lent most frequently to those with incomes in the $150k-250k range, with 40 originations. The second most popular income band? $250k+, with 40 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 189 | $69,095,000 | $365,582 | $0 | 0.00% |
Maine Community Bank lent most frequently to those with DTI ratios of Exempt%, with 189 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.45%
Maine Community Bank has an average approval rate.
Pick Rate
Approvals leading to origination73.02%
Maine Community Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 189 | $69,095,000 | $365,582 |