Abbott Laboratories Employees Credit Union Mortgage Rates, Fees & Info

Gurnee, IL

LEI: 549300O4KTZGM04CCZ47

Tax ID: 36-3679911

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Abbott Laboratories Employees Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Abbott Laboratories Employees Credit Union has a high proportion of conventional loans. Their top markets include Chicago, San Francisco, New York, Columbus, and Boston among others. Abbott Laboratories Employees Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

487

Origination Dollar Volume (All Markets)

$143,745,000

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 368 $98,720,000 $268,261 $0 0.00%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 4 $4,640,000 $1,160,000 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 7 $3,475,000 $496,429 $0 0.00%
Outside of Metro Areas 10 $2,500,000 $250,000 $0 0.00%
COLUMBUS, OH (FHA|USDA|VA) 8 $2,420,000 $302,500 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 3 $2,215,000 $738,333 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 4 $1,910,000 $477,500 $0 0.00%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 6 $1,870,000 $311,667 $0 0.00%
RACINE, WI (FHA|USDA|VA) 7 $1,815,000 $259,286 $0 0.00%
Whitewater, WI (FHA|USDA|VA) 5 $1,425,000 $285,000 $0 0.00%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $1,365,000 $1,365,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 5 $1,315,000 $263,000 $0 0.00%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $1,245,000 $1,245,000 $0 0.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 4 $1,170,000 $292,500 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $985,000 $985,000 $0 0.00%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $870,000 $435,000 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 4 $860,000 $215,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $820,000 $410,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $805,000 $268,333 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $780,000 $390,000 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $765,000 $765,000 $0 0.00%
TUCSON, AZ (FHA|USDA|VA) 2 $750,000 $375,000 $0 0.00%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $695,000 $695,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $640,000 $320,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $580,000 $290,000 $0 0.00%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $535,000 $535,000 $0 0.00%
MUSKEGON, MI (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
SANTA FE, NM (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $450,000 $225,000 $0 0.00%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
Winona, MN (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
NILES, MI (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
GAINESVILLE, FL (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
GREEN BAY, WI (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
RICHMOND, VA (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
DULUTH, MN-WI (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
Platteville, WI (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
Zanesville, OH (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
WILMINGTON, NC (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
RENO, NV (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
THE VILLAGES, FL (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
Shawano, WI (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
TOLEDO, OH (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Galesburg, IL (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
BECKLEY, WV (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
Cullowhee, NC (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Marinette, WI-MI (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%

Abbott Laboratories Employees Credit Union's top markets include Chicago, San Francisco, New York, Columbus, and Boston among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 487 $143,745,000 $295,164 $0 0.00%

For the 2021 period, Abbott Laboratories Employees Credit Union's most frequently originated loan type of loans were Conventional, with 487 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 291 $74,545,000 $256,168 $0 0.00%
Home Purchase 107 $49,595,000 $463,505 $0 0.00%
Cash Out Refi 89 $19,605,000 $220,281 $0 0.00%

For the 2021, Abbott Laboratories Employees Credit Union's most frequently cited loan purpose of loans were Refi, with 291 originations. The 2nd most popular reason of loans were Home Purchase, with 107 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 487 $143,745,000 $295,164 $0 0.00%

For the 2021, Abbott Laboratories Employees Credit Union's most frequently cited loan length of loans were Other, with 487 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 173 $48,625,000 $281,069 $0 0.00%
$100k-200k 151 $22,815,000 $151,093 $0 0.00%
$400k-600k 74 $36,410,000 $492,027 $0 0.00%
$100,000 or less 51 $3,715,000 $72,843 $0 0.00%
$600k-1MM 30 $22,170,000 $739,000 $0 0.00%
$1MM+ 8 $10,010,000 $1,251,250 $0 0.00%

2021 saw Abbott Laboratories Employees Credit Union place emphasis on $200k-400k loans with 173 originations, totaling $48,625,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 106 $41,420,000 $390,755 $0 0.00%
$250k+ 84 $46,330,000 $551,548 $0 0.00%
$100k-150k 48 $10,700,000 $222,917 $0 0.00%
$50k-75k 19 $3,935,000 $207,105 $0 0.00%
$75k-100k 18 $3,270,000 $181,667 $0 0.00%
$50k or less 5 $675,000 $135,000 $0 0.00%

Abbott Laboratories Employees Credit Union lent most frequently to those with incomes in the $150k-250k range, with 106 originations. The second most popular income band? $250k+, with 84 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 487 $143,745,000 $295,164 $0 0.00%

Abbott Laboratories Employees Credit Union lent most frequently to those with DTI ratios of Exempt%, with 487 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 405 $116,025,000 $286,481 $0 0.00%
Asian 45 $16,445,000 $365,444 $0 0.00%
Black 23 $8,065,000 $350,652 $0 0.00%
Not provided 5 $1,145,000 $229,000 $0 0.00%
Not applicable 3 $645,000 $215,000 $0 0.00%
Other Asian 1 $635,000 $635,000 $0 0.00%
American Indian 3 $525,000 $175,000 $0 0.00%
Native Hawaiian 2 $260,000 $130,000 $0 0.00%

Approval Rates

Total approvals of all applications
90.22%

Abbott Laboratories Employees Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
-2.82%

Abbott Laboratories Employees 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 487 $143,745,000 $295,164

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
487 $143,745,000 $295,164