Abbott Laboratories Employees Credit Union Mortgage Rates, Fees & Info

Gurnee, IL

LEI: 549300O4KTZGM04CCZ47

Tax ID: 36-3679911

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Mortgage Data

Review & 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 by origination volume include: Chicago, San Francisco, New York, Columbus, and Boston among others. We have data for 56 markets. (Some data included below & more in-depth data is available with an active subscription.)

Abbott Laboratories Employees Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

487

Origination Dollar Volume (All Markets)

$143,745,000

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
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.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

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

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

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Abbott Laboratories Employees Credit Union's most frequently cited loan purpose was Refi, with 291 originations. The 2nd most popular reason was 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 2021, Abbott Laboratories Employees Credit Union's most frequently cited loan duration was 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 or Islander 2 $260,000 $130,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.66%

    Abbott Laboratories Employees Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    -0.82%

    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