Arrowpointe Federal Credit Union Mortgage Rates, Fees & Info

Catawba, SC

LEI: 5493006F947IVVZ43M67

Tax ID: 57-0407317

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Arrowpointe Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Arrowpointe Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Columbia, Spartanburg, and Myrtle Beach among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Arrowpointe Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Arrowpointe Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    27

    Origination Dollar Volume (All Markets)

    $4,845,000

    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
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 23 $4,165,000 $181,087 $3,035 3.99%
    COLUMBIA, SC (FHA|USDA|VA) 2 $320,000 $160,000 $2,962 3.15%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $245,000 $245,000 $2,066 4.63%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $115,000 $115,000 $3,731 4.88%
    Arrowpointe Federal Credit Union's top markets include Charlotte, Columbia, Spartanburg, and Myrtle Beach among others.

    Their top states include:
  • South Carolina (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Arrowpointe Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Whitley Mortgage Associates, Inc.
    Similarity Rank: 258
    Belmont Savings Bank, SSB
    Similarity Rank: 390
    NewDominion Bank
    Similarity Rank: 602
    FOUNDERS FEDERAL CREDIT UNION
    Similarity Rank: 1419
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1535
    Amerisouth Mortgage Company
    Similarity Rank: 1794
    CAROLINAS TELCO FEDERAL CREDIT UNION
    Similarity Rank: 1952
    Shea Mortgage Inc.
    Similarity Rank: 2016
    GMH Mortgage Services LLC
    Similarity Rank: 2628
    LOCAL GOVERNMENT FEDERAL CREDIT UNION
    Similarity Rank: 3717

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 27 $4,845,000 $179,444 $3,020 3.98%

    For 2018, Arrowpointe Federal Credit Union's most frequently originated type of loan was Conventional, with 27 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 18 $3,760,000 $208,889 $3,017 4.21%
    Refi 8 $960,000 $120,000 $3,033 3.26%
    Cash Out Refi 1 $125,000 $125,000 $2,963 5.75%

    For 2018, Arrowpointe Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 18 originations. The 2nd most popular reason was Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 13 $2,315,000 $178,077 $3,443 4.85%
    Other 6 $780,000 $130,000 $2,567 2.77%
    15 Year 4 $390,000 $97,500 $2,766 4.29%
    10 Year 2 $220,000 $110,000 $2,314 1.94%
    1 Year 2 $1,140,000 $570,000 $2,837 3.45%

    For 2018, Arrowpointe Federal Credit Union's most frequently cited loan duration was 30 Year, with 13 originations. The 2nd most popular length was Other, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 13 $2,675,000 $205,769
    $1k-2k 13 $1,925,000 $148,077

    Arrowpointe Federal Credit Union's average total fees were $3,443, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 13 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 8 $890,000 $111,250
    3-4% 7 $1,315,000 $187,857
    2.5-3% 6 $1,300,000 $216,667
    5-6% 4 $650,000 $162,500
    <2.5% 1 $175,000 $175,000
    6-7% 1 $515,000 $515,000

    During 2018, Arrowpointe Federal Credit Union's average interest rate for loans was 4.85%, while their most frequently originated rate bucket for loans was 4-5%, with 8 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 12 $780,000 $65,000 $2,929 3.91%
    $100k-200k 7 $1,095,000 $156,429 $2,809 4.10%
    $200k-400k 5 $1,315,000 $263,000 $3,593 3.79%
    $400k-600k 2 $1,020,000 $510,000 $2,999 5.04%
    $600k-1MM 1 $635,000 $635,000 $2,758 2.95%

    2018 saw Arrowpointe Federal Credit Union place emphasis on $100,000 or less loans with 12 originations, totaling $780,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 9 $935,000 $103,889 $2,961 3.96%
    $50k or less 6 $760,000 $126,667 $3,244 3.75%
    $75k-100k 5 $1,255,000 $251,000 $2,508 4.24%
    $100k-150k 4 $700,000 $175,000 $3,668 4.21%
    $150k-250k 2 $1,020,000 $510,000 $2,999 5.04%
    $250k+ 1 $175,000 $175,000 $2,201 1.34%

    Arrowpointe Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 9 originations. The second most popular income band? $50k or less, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 11 $2,105,000 $191,364 $2,424 4.46%
    <20% 5 $655,000 $131,000 $2,554 2.81%
    30-36% 3 $775,000 $258,333 $3,794 4.23%
    >60% 2 $400,000 $200,000 $2,699 2.83%
    38% 1 $45,000 $45,000 $5,069 4.00%
    44% 1 $275,000 $275,000 $3,496 3.75%
    45% 1 $45,000 $45,000 $3,185 4.63%
    47% 1 $285,000 $285,000 $7,049 5.50%
    50-60% 1 $65,000 $65,000 $2,304 3.04%
    36% 1 $195,000 $195,000 $4,208 5.25%

    Arrowpointe Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? <20%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 26 $4,780,000 $183,846 $3,047 4.02%
    Black 1 $65,000 $65,000 $2,304 3.04%

    Approval Rates

    Total approvals of all applications
    89.47%

    Arrowpointe Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    18.52%

    Arrowpointe Federal 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
    NA 27 $4,845,000 $179,444

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 27 $4,845,000 $179,444

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $555,000 $185,000 $2,846 3.24%
    40-60% 5 $495,000 $99,000 $2,735 2.95%
    60-80% 9 $1,915,000 $212,778 $2,651 4.67%
    80-100% 9 $1,795,000 $199,444 $3,691 4.07%