Central Maine Federal Credit Union Mortgage Rates, Fees & Info

Lewiston, ME

LEI: 549300KF8J8D4LYT7013

Tax ID: 01-0217896

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

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

    • Review & Overview

    Central Maine Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Central Maine Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Lewiston.

    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

    9

    Origination Dollar Volume (All Markets)

    $1,255,000

    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
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 9 $1,255,000 $139,444 $0 3.13%
    Central Maine Federal Credit Union's top markets include and Lewiston among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 9 $1,255,000 $139,444 $0 3.13%

    For 2021, Central Maine Federal Credit Union's most frequently originated type of loan was Conventional, with 9 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 5 $555,000 $111,000 $0 2.48%
    Refi 3 $665,000 $221,667 $0 2.92%
    Home Purchase 1 $35,000 $35,000 $0 7.00%

    For 2021, Central Maine Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 5 originations. The 2nd most popular reason was Refi, with 3 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 8 $1,100,000 $137,500 $0 3.14%
    30 Year 1 $155,000 $155,000 $0 3.00%

    For 2021, Central Maine Federal Credit Union's most frequently cited loan duration was 15 Year, with 8 originations. The 2nd most popular length was 30 Year, with 1 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 5 $765,000 $153,000
    2.5-3% 2 $270,000 $135,000
    3-4% 1 $185,000 $185,000
    6-7% 1 $35,000 $35,000

    During 2021, Central Maine Federal Credit Union's average interest rate for loans was 3.00%, while their most frequently originated rate bucket for loans was <2.5%, with 5 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 4 $560,000 $140,000 $0 2.91%
    $100,000 or less 3 $165,000 $55,000 $0 3.92%
    $200k-400k 2 $530,000 $265,000 $0 2.38%

    2021 saw Central Maine Federal Credit Union place emphasis on $100k-200k loans with 4 originations, totaling $560,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 3 $405,000 $135,000 $0 2.88%
    $50k or less 2 $90,000 $45,000 $0 4.63%
    $75k-100k 2 $280,000 $140,000 $0 2.38%
    $150k-250k 1 $325,000 $325,000 $0 2.50%
    $50k-75k 1 $155,000 $155,000 $0 3.00%

    Central Maine Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 3 originations. The second most popular income band? $50k or less, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 3 $295,000 $98,333 $0 4.25%
    20-30% 2 $220,000 $110,000 $0 2.69%
    30-36% 2 $380,000 $190,000 $0 2.38%
    42% 2 $360,000 $180,000 $0 2.63%

    Central Maine Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 3 originations. The next most common DTI ratio? 20-30%, with 2 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 9 $1,255,000 $139,444 $0 3.13%

    Approval Rates

    Total approvals of all applications
    90.00%

    Central Maine Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 9 $1,255,000 $139,444

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    9 $1,255,000 $139,444

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $235,000 $78,333 $0 2.42%
    40-60% 2 $150,000 $75,000 $0 4.94%
    60-80% 3 $665,000 $221,667 $0 2.92%
    80-100% 1 $205,000 $205,000 $0 2.25%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Central Mortgage Funding, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%