Central Maine Federal Credit Union Mortgage Rates, Fees & Info
Lewiston, MELEI: 549300KF8J8D4LYT7013
Tax ID: 01-0217896
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Mortgage Data
Review & Overview
Central Maine Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Central Maine Federal Credit Union has a high proportion of conventional loans. Their top two markets are Lewiston and Augusta .Central Maine Federal Credit Union has an above average approval rate when compared to the average across all lenders. They typically have about average rates.
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Originations
5Origination Dollar Volume (All Markets)
$755,000Top 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 |
|---|---|---|---|---|---|
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 4 | $510,000 | $127,500 | $0 | 3.97% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 3.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 5 | $755,000 | $151,000 | $0 | 3.93% |
For 2019, Central Maine Federal Credit Union's most frequently originated type of loan was Conventional, with 5 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 3 | $365,000 | $121,667 | $0 | 4.13% |
| Home Purchase | 2 | $390,000 | $195,000 | $0 | 3.63% |
For 2019, Central Maine Federal Credit Union's most frequently cited loan purpose was Refi, with 3 originations. The 2nd most popular reason was Home Purchase, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 3 | $615,000 | $205,000 | $0 | 3.58% |
| 15 Year | 1 | $45,000 | $45,000 | $0 | 4.38% |
| 20 Year | 1 | $95,000 | $95,000 | $0 | 4.50% |
For 2019, Central Maine Federal Credit Union's most frequently cited loan duration was 30 Year, with 3 originations. The 2nd most popular length was 15 Year, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 3 | $615,000 | $205,000 |
| 4-5% | 2 | $140,000 | $70,000 |
During 2019, Central Maine Federal Credit Union's average interest rate for loans was 3.58%, while their most frequently originated rate bucket for loans was 3-4%, with 3 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 2 | $140,000 | $70,000 | $0 | 4.44% |
| $200k-400k | 2 | $470,000 | $235,000 | $0 | 3.63% |
| $100k-200k | 1 | $145,000 | $145,000 | $0 | 3.50% |
2019 saw Central Maine Federal Credit Union place emphasis on $100,000 or less loans with 2 originations, totaling $140,000 in origination value.
Applicant Income
Central Maine Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 2 originations. The second most popular income band? $50k-75k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 5 | $755,000 | $151,000 | $0 | 3.93% |
Central Maine Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 5 | $755,000 | $151,000 | $0 | 3.93% |
Approval Rates
Total approvals of all applications100.00%
Central Maine Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 5 | $755,000 | $151,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 5 | $755,000 | $151,000 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 1 | $45,000 | $45,000 | $0 | 4.38% |
| 60-80% | 3 | $465,000 | $155,000 | $0 | 3.83% |
| 80-100% | 1 | $245,000 | $245,000 | $0 | 3.75% |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| CENTERSTATE BANK CORPORATION | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| CENTERSTATE BANK CORPORATION | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |