Infinity Federal Credit Union Mortgage Rates, Fees & Info
Westbrook, MELEI: 549300HW4KR7SR5P7259
Tax ID: 01-0170010
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Infinity Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase 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
139Origination Dollar Volume (All Markets)
$23,345,000Top 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) | 112 | $20,490,000 | $182,946 | $0 | 0.00% |
| BANGOR, ME (FHA|USDA|VA) | 18 | $2,070,000 | $115,000 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $490,000 | $81,667 | $0 | 0.00% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $0 | 0.00% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
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.
Similarity Rank: 52
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Similarity Rank: 355
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 139 | $23,345,000 | $167,950 | $0 | 0.00% |
For 2019, Infinity Federal Credit Union's most frequently originated type of loan was Conventional, with 139 originations.
Loan Reason
For 2019, Infinity Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 73 originations. The 2nd most popular reason was Home Purchase, with 38 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 139 | $23,345,000 | $167,950 | $0 | 0.00% |
For 2019, Infinity Federal Credit Union's most frequently cited loan duration was Other, with 139 originations.
Loan Sizing
2019 saw Infinity Federal Credit Union place emphasis on $100k-200k loans with 53 originations, totaling $7,755,000 in origination value.
Applicant Income
Infinity Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 36 originations. The second most popular income band? $100k-150k, with 32 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 139 | $23,345,000 | $167,950 | $0 | 0.00% |
Infinity Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 139 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.25%
Infinity Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination64.03%
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 | 139 | $23,345,000 | $167,950 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $110,000 | $55,000 |
| Single Family (1-4 Units):Site-Built | 137 | $23,235,000 | $169,599 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Infinity Home Lending | FHA mortgage | Closing on a mortgage | 1 | 100.0% |