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 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, Austin, Los Angeles, and Minneapolis among others. We have data for 36 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

187

Origination Dollar Volume (All Markets)

$70,015,000

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) 130 $48,520,000 $373,231 $0 0.00%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $3,265,000 $1,088,333 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $1,845,000 $615,000 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $1,600,000 $800,000 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 4 $1,590,000 $397,500 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,240,000 $620,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 6 $1,220,000 $203,333 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $1,030,000 $515,000 $0 0.00%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $795,000 $795,000 $0 0.00%
COLUMBUS, OH (FHA|USDA|VA) 2 $770,000 $385,000 $0 0.00%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 3 $755,000 $251,667 $0 0.00%
LYNCHBURG, VA (FHA|USDA|VA) 1 $615,000 $615,000 $0 0.00%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $540,000 $270,000 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $515,000 $515,000 $0 0.00%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 2 $430,000 $215,000 $0 0.00%
SHEBOYGAN, WI (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
FRESNO, CA (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
RACINE, WI (FHA|USDA|VA) 2 $310,000 $155,000 $0 0.00%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
LINCOLN, NE (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
Outside of Metro Areas 2 $240,000 $120,000 $0 0.00%
Shelby, NC (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
ROCKFORD, IL (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
BOWLING GREEN, KY (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
Hillsdale, MI (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
PEORIA, IL (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Danville, VA (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
Abbott Laboratories Employees Credit Union's top markets include Chicago, San Francisco, Austin, Los Angeles, and Minneapolis among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 187 $70,015,000 $374,412 $0 0.00%

    For 2022, Abbott Laboratories Employees Credit Union's most frequently originated type of loan was Conventional, with 187 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 148 $63,990,000 $432,365 $0 0.00%
    Refi 26 $3,960,000 $152,308 $0 0.00%
    Cash Out Refi 7 $785,000 $112,143 $0 0.00%
    Home Improvement 5 $1,225,000 $245,000 $0 0.00%
    Other 1 $55,000 $55,000 $0 0.00%

    For 2022, Abbott Laboratories Employees Credit Union's most frequently cited loan purpose was Home Purchase, with 148 originations. The 2nd most popular reason was Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 187 $70,015,000 $374,412 $0 0.00%

    For 2022, Abbott Laboratories Employees Credit Union's most frequently cited loan duration was Other, with 187 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 58 $17,180,000 $296,207 $0 0.00%
    $400k-600k 37 $17,465,000 $472,027 $0 0.00%
    $100k-200k 33 $4,755,000 $144,091 $0 0.00%
    $600k-1MM 32 $22,350,000 $698,438 $0 0.00%
    $100,000 or less 22 $1,250,000 $56,818 $0 0.00%
    $1MM+ 5 $7,015,000 $1,403,000 $0 0.00%

    2022 saw Abbott Laboratories Employees Credit Union place emphasis on $200k-400k loans with 58 originations, totaling $17,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 58 $28,490,000 $491,207 $0 0.00%
    $250k+ 37 $22,465,000 $607,162 $0 0.00%
    $100k-150k 35 $10,225,000 $292,143 $0 0.00%
    $75k-100k 18 $3,200,000 $177,778 $0 0.00%
    $50k-75k 5 $645,000 $129,000 $0 0.00%
    $50k or less 5 $595,000 $119,000 $0 0.00%

    Abbott Laboratories Employees Credit Union lent most frequently to those with incomes in the $150k-250k range, with 58 originations. The second most popular income band? $250k+, with 37 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 187 $70,015,000 $374,412 $0 0.00%

    Abbott Laboratories Employees Credit Union lent most frequently to those with DTI ratios of Exempt%, with 187 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 149 $53,465,000 $358,826 $0 0.00%
    Asian 18 $8,520,000 $473,333 $0 0.00%
    Black 6 $1,980,000 $330,000 $0 0.00%
    Asian Indian 4 $1,770,000 $442,500 $0 0.00%
    Other Asian 2 $1,560,000 $780,000 $0 0.00%
    Not provided 3 $1,085,000 $361,667 $0 0.00%
    Korean 1 $625,000 $625,000 $0 0.00%
    American Indian 2 $450,000 $225,000 $0 0.00%
    Chinese 1 $365,000 $365,000 $0 0.00%
    Japanese 1 $195,000 $195,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.00%

    Abbott Laboratories Employees Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    27.27%

    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 187 $70,015,000 $374,412

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    187 $70,015,000 $374,412