Cumberland County Federal Credit Union Mortgage Interest Rate and Cost Review

Is Cumberland County Federal Credit Union a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Cumberland County Federal Credit Union to those of other lenders for a comparable set of borrowers. Here is our review of Cumberland County Federal Credit Union nationally:

Review ItemCumberland County Federal Credit Union
Interest Ratesimilar to other lenders (+0.02%)
Loan Related Closing Costssimilar to other lenders (-$249)
National Rate and Closing Cost Star Rating(3.5)

On average, Cumberland County Federal Credit Union’s interest rates were similar to those of other lenders (+0.02%). Its loan related closing costs were also similar to those of other lenders, with a difference of -$249. Overall, combining interest rates and closing costs we estimate that Cumberland County Federal Credit Union tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Cumberland County Federal Credit Union, check out its website at: https://www.myccfcu.com.

Cumberland County Federal Credit Union’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Cumberland County Federal Credit Union was most active in:

  1. Portland, ME
  2. Manchester, NH

Cumberland County Federal Credit Union’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Cumberland County Federal Credit Union originated Conforming mortgages for new home purchases. It also originated Conforming and Jumbo mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConforming
Interest Rate Difference-0.00%
Loan Related Closing Cost Difference-$129
Cost Adjusted Rate Difference-0.01%
National Star Rating(3.5)
Refinance MortgagesConformingJumbo
Interest Rate Difference+0.04%+0.02%
Loan Related Closing Cost Difference-$355+$12
Cost Adjusted Rate Difference-0.02%+0.02%
Average Star Rating(3.5)(3.5)

As a summary, Cumberland County Federal Credit Union is similar to other lenders for Conforming purchase mortgages. For refinancing mortgages, Cumberland County Federal Credit Union is similar to other lenders for Conforming and Jumbo mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Cumberland County Federal Credit Union:

Registered name: Cumberland County Federal Credit Union
Registered city and state: Falmouth, ME, 04105
Regulator: National Credit Union Administration (NCUA)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Cumberland County Federal Credit Union’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.