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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Maine Community Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi 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 above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Maine Community Bank 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.

    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% 11/22/24
    30 Year Conventional Refi 6.62% 11/22/24
    30 Year Cash-out Refi 6.78% 11/22/24
    30 Year USDA Purchase 6.56% 11/22/24
    15 Year Conventional Purchase 6.28% 11/22/24
    15 Year Conventional Refi 6.33% 11/22/24
    15 Year Cash-out Refi 6.33% 11/22/24
    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

    459

    Origination Dollar Volume (All Markets)

    $112,735,000

    Employee count

    162

    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) 316 $83,200,000 $263,291 $3,641 3.17%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 107 $22,355,000 $208,925 $3,491 3.22%
    Outside of Metro Areas 18 $3,810,000 $211,667 $3,962 3.26%
    Augusta-Waterville, ME (FHA|USDA|VA) 14 $2,700,000 $192,857 $3,766 3.06%
    BANGOR, ME (FHA|USDA|VA) 4 $670,000 $167,500 $4,525 2.94%
    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.

    MAINE FAMILY
    Similarity Rank: 12
    INFINITY Federal Credit Union
    Similarity Rank: 136
    CASCO
    Similarity Rank: 226
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 240
    Piscataqua Savings Bank
    Similarity Rank: 252
    CUMBERLAND COUNTY
    Similarity Rank: 464
    Kennebec Savings Bank
    Similarity Rank: 535
    Saco & Biddeford Savings Institution
    Similarity Rank: 556
    Cambridge Trust Company
    Similarity Rank: 585
    Maine Savings Federal Credit Union
    Similarity Rank: 650

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 459 $112,735,000 $245,610 $3,634 3.18%

    For 2021, Maine Community Bank's most frequently originated type of loan was Conventional, with 459 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 150 $49,130,000 $327,533 $4,495 3.44%
    Cash Out Refi 146 $30,370,000 $208,014 $3,413 3.04%
    Refi 138 $27,290,000 $197,754 $3,232 3.00%
    Home Improvement 17 $3,725,000 $219,118 $3,152 3.47%
    Other 8 $2,220,000 $277,500 $1,762 3.55%

    For 2021, Maine Community Bank's most frequently cited loan purpose was Home Purchase, with 150 originations. The 2nd most popular reason was Cash Out Refi, with 146 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 199 $53,415,000 $268,417 $4,063 3.32%
    15 Year 116 $19,240,000 $165,862 $2,613 2.85%
    10 Year 63 $13,675,000 $217,063 $1,574 3.13%
    20 Year 45 $13,375,000 $297,222 $4,167 3.21%
    30+ year 25 $8,875,000 $355,000 $6,983 3.58%
    Other 11 $4,155,000 $377,727 $5,880 3.36%

    For 2021, Maine Community Bank's most frequently cited loan duration was 30 Year, with 199 originations. The 2nd most popular length was 15 Year, with 116 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 281 $63,365,000 $225,498
    $2k-3k 54 $12,170,000 $225,370
    $<1k 35 $6,305,000 $180,143
    $3k-4k 22 $4,900,000 $222,727
    $4k-5k 18 $4,860,000 $270,000
    $5k+ 13 $4,205,000 $323,462

    Maine Community Bank's average total fees were $4,063, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 281 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 228 $68,830,000 $301,886
    2.5-3% 159 $30,715,000 $193,176
    <2.5% 48 $8,540,000 $177,917
    4-5% 23 $4,485,000 $195,000

    During 2021, Maine Community Bank's average interest rate for loans was 3.32%, while their most frequently originated rate bucket for loans was 3-4%, with 228 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 198 $29,110,000 $147,020 $2,990 3.10%
    $200k-400k 160 $43,510,000 $271,938 $4,490 3.20%
    $100,000 or less 48 $3,150,000 $65,625 $1,607 3.18%
    $400k-600k 29 $14,275,000 $492,241 $6,046 3.36%
    $600k-1MM 18 $13,410,000 $745,000 $5,128 3.42%
    $1MM+ 6 $9,280,000 $1,546,667 $5,346 3.62%

    2021 saw Maine Community Bank place emphasis on $100k-200k loans with 198 originations, totaling $29,110,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 114 $27,010,000 $236,930 $3,944 3.08%
    $150k-250k 85 $19,245,000 $226,412 $3,591 3.17%
    $50k-75k 79 $12,315,000 $155,886 $3,255 3.14%
    $75k-100k 62 $11,020,000 $177,742 $3,781 3.05%
    $250k+ 50 $21,910,000 $438,200 $4,151 3.20%
    $50k or less 27 $3,175,000 $117,593 $2,551 3.22%

    Maine Community Bank lent most frequently to those with incomes in the $100k-150k range, with 114 originations. The second most popular income band? $150k-250k, with 85 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 131 $28,315,000 $216,145 $3,724 3.05%
    30-36% 102 $24,140,000 $236,667 $3,828 3.20%
    <20% 74 $16,100,000 $217,568 $3,398 3.03%
    39% 17 $4,355,000 $256,176 $2,914 3.21%
    41% 15 $2,735,000 $182,333 $2,754 3.23%
    40% 14 $3,000,000 $214,286 $3,810 3.35%
    36% 14 $2,900,000 $207,143 $3,147 3.09%
    38% 13 $2,915,000 $224,231 $4,053 3.14%
    37% 13 $3,625,000 $278,846 $4,262 3.29%
    42% 13 $2,565,000 $197,308 $3,361 3.03%
    43% 6 $1,290,000 $215,000 $4,339 3.29%
    44% 5 $2,375,000 $475,000 $4,313 3.13%
    45% 2 $620,000 $310,000 $4,012 3.06%
    48% 2 $440,000 $220,000 $3,754 3.19%
    >60% 2 $270,000 $135,000 $1,000 2.88%
    49% 1 $325,000 $325,000 $3,316 4.38%

    Maine Community Bank lent most frequently to those with DTI ratios of 20-30%, with 131 originations. The next most common DTI ratio? 30-36%, with 102 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 392 $89,830,000 $229,158 $3,657 3.13%
    Not applicable 35 $16,765,000 $479,000 $0 3.87%
    Not provided 24 $4,780,000 $199,167 $3,451 3.09%
    Asian 3 $645,000 $215,000 $3,932 3.21%
    American Indian 3 $365,000 $121,667 $1,694 2.71%
    Asian Indian 1 $205,000 $205,000 $3,232 4.25%
    Black 1 $145,000 $145,000 $4,590 2.38%

    Approval Rates

    Total approvals of all applications
    90.31%

    Maine Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.48%

    Maine Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 459 $112,735,000 $245,610

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    459 $112,735,000 $245,610

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 93 $14,885,000 $160,054 $2,636 3.07%
    40-60% 121 $26,665,000 $220,372 $3,455 2.98%
    60-80% 165 $50,825,000 $308,030 $4,470 3.31%
    80-100% 52 $16,280,000 $313,077 $4,565 3.38%
    Over 100% 2 $1,420,000 $710,000 $0 3.75%
    Under 20% 26 $2,660,000 $102,308 $1,182 3.25%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Maine Community Bank 100 Minot Avenue Auburn, ME 4210 Full Service B&M $210,209
    Maine Community Bank 16 Station Ave, Ste 103 Brunswick, ME 4011 Full Service B&M $26,144
    Maine Community Bank 206 Us Route One Scarborough, ME 4074 Full Service B&M $73,527
    Maine Community Bank 234 Main Street Biddeford, ME 4005 Full Service B&M $0
    Maine Community Bank 254 Main St Biddeford, ME 4005 Full Service B&M $244,868
    Maine Community Bank 3 Drive-In Lane Windham, ME 4062 Full Service B&M $27,033
    Maine Community Bank 473 Alfred Street Biddeford, ME 4005 Full Service B&M $100,934
    Maine Community Bank 65 Portland Road Kennebunk, ME 4043 Full Service B&M $49,600
    Maine Community Bank 664 Main Street Lewiston, ME 4240 Full Service B&M $62,392
    Maine Community Bank 846 Main Street Waterboro, ME 4087 Full Service B&M $60,097

    For 2021, Maine Community Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $36,455
    Net interest income $33,627
    Total noninterest income $1,891
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $329
    Trading account gains and fees $0
    Additional Noninterest Income $1,562
    Pre-tax net operating income $11,061
    Securities gains (or losses, -) $796
    Income before extraordinary items $9,453
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,453
    Minority interest net income $0
    Net income $9,453
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,816

    Maine Community Bank's gross interest income from loans was $36,455,000.
    Maine Community Bank's net interest income from loans was $33,627,000.
    Maine Community Bank's fee based income from loans was $329,000.
    Maine Community Bank's net income from loans was $9,453,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,828
    Provision for credit losses $647
    Total noninterest expense $23,810
    Salaries and employee benefits $13,999
    Premises and equipment expense $2,712
    Additional noninterest expense $7,099
    Applicable income taxes $2,404
    Net charge-offs $266
    Cash dividends $0

    Maine Community Bank's interest expense for loans was $2,828,000.
    Maine Community Bank's payroll and benefits expense were $13,999,000.
    Maine Community Bank's property, plant and equipment expenses $2,712,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $853,581
    Deposits held in domestic offices $853,581
    Deposits by Individuals, partnerships, and corporations $806,016
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $38,274
    Deposits by Commercial banks and other depository institutions in U.S. $9,288
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $364,993
    Demand deposits $167,683
    Nontransaction accounts $488,588
    Money market deposit accounts (MMDAs) $188,089
    Other savings deposits (excluding MMDAs) $135,835
    Total time deposits $164,665
    Total time and savings deposits $685,898
    Noninterest-bearing deposits $167,688
    Interest-bearing deposits $685,893
    Retail deposits $791,394
    IRAs and Keogh plan accounts $32,066
    Brokered deposits $46,339
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,020,986
    Cash & Balances due from depository institutions $89,739
    Interest-bearing balances $81,473
    Total securities $99,947
    Federal funds sold & reverse repurchase $0
    Net loans and leases $784,877
    Loan and leases loss allowance $7,665
    Trading account assets $0
    Bank premises and fixed assets $23,526
    Other real estate owned $0
    Goodwill and other intangibles $469
    All other assets $22,428

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,020,986
    Total Liabilities $888,365
    Total deposits $853,581
    Interest-bearing deposits $685,893
    Deposits held in domestic offices $853,581
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $27,744
    Subordinated debt $0
    All other liabilities $7,040

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $784,877
    Loan and leases loss allowance $7,665
    Total loans and leases (domestic) $792,542
    All real estate loans $741,513
    Real estate loans in domestic offices $741,513
    Construction and development loans $30,127
    Residential 1-4 family construction $18,070
    Other construction, all land development and other land $12,057
    Loans secured by nonfarm nonresidential properties $246,415
    Nonfarm nonresidential secured by owner-occupied properties $103,327
    Commercial real estate & other non-farm, non-residential $143,088
    Multifamily residential real estate $41,950
    1-4 family residential loans $421,099
    Farmland loans $1,922
    Loans held in foreign offices $0
    Farm loans $1,471
    Commercial and industrial loans $43,930
    To non-U.S. addressees $0
    Loans to individuals $3,413
    Credit card loans $0
    Related Plans $43
    Consumer Auto Loans $1,339
    Other loans to individuals $2,031
    All other loans & leases $3,247
    Loans to foreign governments and official institutions $0
    Other loans $1,063
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $4,592
    Non 1-4 family restructured loans & leases $508
    Total loans and leases (foreign) $0

    Maine Community Bank had $784,877,000 of loans outstanding in 2021. $741,513,000 of loans were in real estate loans. $30,127,000 of loans were in development loans. $41,950,000 of loans were in multifamily mortgage loans. $421,099,000 of loans were in 1-4 family mortgage loans. $1,471,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,339,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 400 $94,722 $236,805
    Nonfarm, nonresidential loans - <$100k 54 $2,511 $46,500
    Nonfarm, nonresidential loans - $100-250k 150 $20,639 $137,593
    Nonfarm, nonresidential loans - $250k-1MM 196 $71,572 $365,163
    Commercial & Industrial, US addressed loans - <$1MM 468 $31,620 $67,564
    Commercial & Industrial, US addressed loans - <$100k 322 $8,659 $26,891
    Commercial & Industrial, US addressed loans - $100-250k 98 $10,209 $104,173
    Commercial & Industrial, US addressed loans - $250k-1MM 48 $12,752 $265,667
    Farmland loans - <$1MM 5 $860 $172,000
    Farmland loans - <$100k 2 $172 $86,000
    Farmland loans - $100-250k 2 $371 $185,500
    Farmland loans - $250k-1MM 1 $317 $317,000
    Agriculture operations loans - <$1MM 7 $1,466 $209,429
    Agriculture operations loans - <$100k 4 $181 $45,250
    Agriculture operations loans - $250k-1MM 3 $1,285 $428,333