Infinity Federal Credit Union Mortgage Rates, Fees & Info

Westbrook, ME

LEI: 549300HW4KR7SR5P7259

Tax ID: 01-0170010

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Mortgage Data

Review & Overview

Infinity Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Infinity Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Bangor, Lewiston, and Augusta among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Infinity Federal Credit Union 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.

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Originations

144

Origination Dollar Volume (All Markets)

$23,470,000

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) 101 $19,025,000 $188,366 $0 0.00%
Outside of Metro Areas 18 $1,840,000 $102,222 $0 0.00%
BANGOR, ME (FHA|USDA|VA) 17 $1,625,000 $95,588 $0 0.00%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 6 $840,000 $140,000 $0 0.00%
Augusta-Waterville, ME (FHA|USDA|VA) 2 $140,000 $70,000 $0 0.00%
Infinity Federal Credit Union's top markets include Portland, Bangor, Lewiston, and Augusta among others.

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

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

    Saco Valley Credit Union
    Similarity Rank: 70
    CASCO
    Similarity Rank: 90
    CUMBERLAND COUNTY
    Similarity Rank: 120
    Maine Savings Federal Credit Union
    Similarity Rank: 160
    York County Federal Credit Union
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    FIVE COUNTY
    Similarity Rank: 248
    Bath Savings Institution
    Similarity Rank: 288
    NORTHEAST CREDIT UNION
    Similarity Rank: 315

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 144 $23,470,000 $162,986 $0 0.00%

    For 2018, Infinity Federal Credit Union's most frequently originated type of loan was Conventional, with 144 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 62 $13,600,000 $219,355 $0 0.00%
    Cash Out Refi 45 $6,915,000 $153,667 $0 0.00%
    Other 24 $1,310,000 $54,583 $0 0.00%
    Refi 9 $1,555,000 $172,778 $0 0.00%
    Home Improvement 4 $90,000 $22,500 $0 0.00%

    For 2018, Infinity Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 62 originations. The 2nd most popular reason was Cash Out Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 144 $23,470,000 $162,986 $0 0.00%

    For 2018, Infinity Federal Credit Union's most frequently cited loan duration was Other, with 144 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 54 $8,210,000 $152,037 $0 0.00%
    $100,000 or less 48 $2,340,000 $48,750 $0 0.00%
    $200k-400k 33 $8,675,000 $262,879 $0 0.00%
    $400k-600k 9 $4,245,000 $471,667 $0 0.00%

    2018 saw Infinity Federal Credit Union place emphasis on $100k-200k loans with 54 originations, totaling $8,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 34 $4,310,000 $126,765 $0 0.00%
    $75k-100k 34 $5,460,000 $160,588 $0 0.00%
    $50k or less 23 $1,735,000 $75,435 $0 0.00%
    $100k-150k 22 $3,920,000 $178,182 $0 0.00%
    $150k-250k 20 $5,430,000 $271,500 $0 0.00%
    $250k+ 4 $1,470,000 $367,500 $0 0.00%

    Infinity Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 34 originations. The second most popular income band? $75k-100k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 144 $23,470,000 $162,986 $0 0.00%

    Infinity Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 144 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 115 $18,865,000 $164,043 $0 0.00%
    Not provided 20 $2,960,000 $148,000 $0 0.00%
    Not applicable 7 $1,145,000 $163,571 $0 0.00%
    Asian 2 $500,000 $250,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    76.21%

    Infinity Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    47.92%

    Infinity Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 144 $23,470,000 $162,986

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $300,000 $50,000
    Single Family (1-4 Units):Site-Built 138 $23,170,000 $167,899