Armstrong Associates Fcu Mortgage Rates, Fees & Info
Ford City, PALEI: 254900XJILJTNAUVMD85
Tax ID: 25-1087532
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Mortgage Data
Review & Overview
Armstrong Associates Fcu is a smaller credit union specializing in Other loans. Armstrong Associates Fcu has a high proportion of conventional loans. Their top two markets are Pittsburgh and Youngstown .Armstrong Associates Fcu has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Purchase | 5.68% | 12/17/24 |
| 15 Year Conventional Refi | 5.68% | 12/17/24 |
| 15 Year Cash-out Refi | 5.68% | 12/17/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Armstrong Associates Fcu Mortgage Calculator
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Originations
65Origination Dollar Volume (All Markets)
$3,505,000Top 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 |
|---|---|---|---|---|---|
| PITTSBURGH, PA (FHA|USDA|VA) | 63 | $3,405,000 | $54,048 | $406 | 3.49% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $407 | 3.75% |
| Outside of Metro Areas | 1 | $25,000 | $25,000 | $414 | 3.95% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 65 | $3,505,000 | $53,923 | $406 | 3.50% |
For 2022, Armstrong Associates Fcu's most frequently originated type of loan was Conventional, with 65 originations.
Loan Reason
For 2022, Armstrong Associates Fcu's most frequently cited loan purpose was Other, with 48 originations. The 2nd most popular reason was Home Improvement, with 13 originations.
Loan Duration/Length
For 2022, Armstrong Associates Fcu's most frequently cited loan duration was 15 Year, with 24 originations. The 2nd most popular length was 5 Year, with 22 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $65,000 | $65,000 |
Armstrong Associates Fcu's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 46 | $2,860,000 | $62,174 |
| 2.5-3% | 16 | $510,000 | $31,875 |
| 4-5% | 2 | $80,000 | $40,000 |
During 2022, Armstrong Associates Fcu's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 46 originations.
Loan Sizing
2022 saw Armstrong Associates Fcu place emphasis on $100,000 or less loans with 59 originations, totaling $2,435,000 in origination value.
Applicant Income
Armstrong Associates Fcu lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $50k-75k, with 18 originations.
Applicant Debt to Income Ratio
Armstrong Associates Fcu lent most frequently to those with DTI ratios of <20%, with 31 originations. The next most common DTI ratio? 20-30%, with 18 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 65 | $3,505,000 | $53,923 | $406 | 3.50% |
Approval Rates
Total approvals of all applications97.06%
Armstrong Associates Fcu has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination98.46%
Armstrong Associates Fcu has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 65 | $3,505,000 | $53,923 |