Abbott Laboratories Employees Credit Union Mortgage Rates, Fees & Info
Gurnee, ILLEI: 549300O4KTZGM04CCZ47
Tax ID: 36-3679911
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
487Origination Dollar Volume (All Markets)
$143,745,000Top 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 applications90.22%
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 |
