Lincoln Maine Federal Cr Union Mortgage Rates, Fees & Info
LINCOLN, MELEI: 549300MINSIGQJB44L41
Tax ID: 01-0281690
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Mortgage Data
Review & Overview
Lincoln Maine Federal Cr Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Lincoln Maine Federal Cr Union has a high proportion of conventional loans. Their top (well, only) market is Bangor.Lincoln Maine Federal Cr Union has an average approval rate when compared to the average across all lenders.
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Originations
50Origination Dollar Volume (All Markets)
$3,100,000Top 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 |
|---|---|---|---|---|---|
| BANGOR, ME (FHA|USDA|VA) | 47 | $2,925,000 | $62,234 | $2,047 | 7.75% |
| Outside of Metro Areas | 3 | $175,000 | $58,333 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 50 | $3,100,000 | $62,000 | $2,047 | 7.75% |
For 2018, Lincoln Maine Federal Cr Union's most frequently originated type of loan was Conventional, with 50 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 33 | $1,935,000 | $58,636 | $2,047 | 7.75% |
| Cash Out Refi | 11 | $795,000 | $72,273 | $0 | 0.00% |
| Refi | 6 | $370,000 | $61,667 | $0 | 0.00% |
For 2018, Lincoln Maine Federal Cr Union's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Cash Out Refi, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 50 | $3,100,000 | $62,000 | $2,047 | 7.75% |
For 2018, Lincoln Maine Federal Cr Union's most frequently cited loan duration was Other, with 50 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $125,000 | $125,000 |
Lincoln Maine Federal Cr Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 1 | $125,000 | $125,000 |
During 2018, Lincoln Maine Federal Cr Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 1 originations.
Loan Sizing
2018 saw Lincoln Maine Federal Cr Union place emphasis on $100,000 or less loans with 42 originations, totaling $1,980,000 in origination value.
Applicant Income
Lincoln Maine Federal Cr Union lent most frequently to those with incomes in the $50k-75k range, with 15 originations. The second most popular income band? $50k or less, with 14 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 42% | 1 | $125,000 | $125,000 | $2,047 | 7.75% |
Lincoln Maine Federal Cr Union lent most frequently to those with DTI ratios of 42%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 50 | $3,100,000 | $62,000 | $2,047 | 7.75% |
Approval Rates
Total approvals of all applications82.19%
Lincoln Maine Federal Cr Union has a below average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 50 | $3,100,000 | $62,000 |