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
Jump to:
Mortgage Data
Review & Overview
Infinity Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Infinity Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Bangor, and Lewiston among others. We have data for 4 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. Infinity Federal Credit Union 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.
Originations
79Origination Dollar Volume (All Markets)
$17,725,000Awards
INFINITY Federal Credit Union - 2021
INFINITY Federal Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for INFINITY Federal Credit Union?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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) | 62 | $15,290,000 | $246,613 | $3,318 | 2.77% |
| BANGOR, ME (FHA|USDA|VA) | 11 | $1,685,000 | $153,182 | $2,772 | 2.98% |
| Outside of Metro Areas | 4 | $550,000 | $137,500 | $3,048 | 3.09% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $2,187 | 8.75% |
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: 136
Similarity Rank: 226
Similarity Rank: 240
Similarity Rank: 252
Similarity Rank: 464
Similarity Rank: 535
Similarity Rank: 556
Similarity Rank: 585
Similarity Rank: 648
Similarity Rank: 650
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 79 | $17,725,000 | $224,367 | $3,200 | 2.97% |
For 2021, Infinity Federal Credit Union's most frequently originated type of loan was Conventional, with 79 originations.
Loan Reason
For 2021, Infinity Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 30 originations. The 2nd most popular reason was Refi, with 28 originations.
Loan Duration/Length
For 2021, Infinity Federal Credit Union's most frequently cited loan duration was 30 Year, with 41 originations. The 2nd most popular length was 20 Year, with 18 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 74 | $16,880,000 | $228,108 |
| $<1k | 5 | $845,000 | $169,000 |
Infinity Federal Credit Union's average total fees were $3,246, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 74 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 56 | $13,590,000 | $242,679 |
| <2.5% | 11 | $1,365,000 | $124,091 |
| 3-4% | 10 | $2,430,000 | $243,000 |
| 4-5% | 1 | $325,000 | $325,000 |
| Over 8% | 1 | $15,000 | $15,000 |
During 2021, Infinity Federal Credit Union's average interest rate for loans was 2.95%, while their most frequently originated rate bucket for loans was 2.5-3%, with 56 originations.
Loan Sizing
2021 saw Infinity Federal Credit Union place emphasis on $200k-400k loans with 35 originations, totaling $9,755,000 in origination value.
Applicant Income
Infinity Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 22 originations. The second most popular income band? $100k-150k, with 19 originations.
Applicant Debt to Income Ratio
Infinity Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 14 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.83%
Infinity Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination77.22%
Infinity Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 79 | $17,725,000 | $224,367 |