Arrowpointe Federal Credit Union Mortgage Rates, Fees & Info

Catawba, SC

LEI: 5493006F947IVVZ43M67

Tax ID: 57-0407317

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Mortgage Data

Review & Overview

Arrowpointe Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Arrowpointe Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Greenville, Hilton Head Island, and Columbia 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.

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Originations

21

Origination Dollar Volume (All Markets)

$3,715,000

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) 18 $3,000,000 $166,667 $3,487 4.41%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $485,000 $485,000 $4,100 4.75%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $165,000 $165,000 $4,295 4.50%
COLUMBIA, SC (FHA|USDA|VA) 1 $65,000 $65,000 $3,524 4.50%
Arrowpointe Federal Credit Union's top markets include Charlotte, Greenville, Hilton Head Island, and Columbia 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.

    Belmont Savings Bank, SSB
    Similarity Rank: 897
    Arrowpointe Federal Credit Union
    Similarity Rank: 1316
    PIKE CREEK MORTGAGE SERVICES, INC.
    Similarity Rank: 1938
    Whitley Mortgage Associates, Inc.
    Similarity Rank: 2401
    Aurora Financial, LLC
    Similarity Rank: 2555
    CAROLINAS TELCO FEDERAL CREDIT UNION
    Similarity Rank: 2832
    Peoples Bank
    Similarity Rank: 3150
    Shea Mortgage Inc.
    Similarity Rank: 3956
    NORTHERN MORTGAGE SERVICES, LLC
    Similarity Rank: 4087

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 21 $3,715,000 $176,905 $3,556 4.43%

    For 2019, Arrowpointe Federal Credit Union's most frequently originated type of loan was Conventional, with 21 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 12 $2,240,000 $186,667 $4,200 4.31%
    Refi 5 $1,055,000 $211,000 $2,880 4.54%
    Cash Out Refi 4 $420,000 $105,000 $2,470 4.68%

    For 2019, Arrowpointe Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 12 originations. The 2nd most popular reason was Refi, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 15 $3,225,000 $215,000 $3,952 4.53%
    15 Year 4 $330,000 $82,500 $2,981 4.21%
    Other 2 $160,000 $80,000 $1,741 4.20%

    For 2019, Arrowpointe Federal Credit Union's most frequently cited loan duration was 30 Year, with 15 originations. The 2nd most popular length was 15 Year, with 4 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 18 $3,390,000 $188,333
    $<1k 2 $200,000 $100,000

    Arrowpointe Federal Credit Union's average total fees were $3,952, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 18 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 12 $1,590,000 $132,500
    3-4% 7 $1,815,000 $259,286
    5-6% 2 $310,000 $155,000

    During 2019, Arrowpointe Federal Credit Union's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 4-5%, with 12 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 11 $1,535,000 $139,545 $3,006 4.53%
    $100,000 or less 6 $410,000 $68,333 $3,078 4.46%
    $400k-600k 3 $1,565,000 $521,667 $4,669 4.17%
    $200k-400k 1 $205,000 $205,000 $9,144 4.00%

    2019 saw Arrowpointe Federal Credit Union place emphasis on $100k-200k loans with 11 originations, totaling $1,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 11 $1,325,000 $120,455 $3,697 4.52%
    $75k-100k 5 $1,045,000 $209,000 $3,200 4.19%
    $250k+ 2 $970,000 $485,000 $5,398 4.25%
    $50k-75k 2 $190,000 $95,000 $2,109 4.23%
    $100k-150k 1 $185,000 $185,000 $3,007 5.50%

    Arrowpointe Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 11 originations. The second most popular income band? $75k-100k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 6 $1,340,000 $223,333 $3,667 4.57%
    20-30% 4 $390,000 $97,500 $3,455 4.84%
    30-36% 3 $365,000 $121,667 $3,291 4.00%
    38% 2 $340,000 $170,000 $3,613 4.63%
    43% 2 $290,000 $145,000 $2,904 4.38%
    40% 1 $65,000 $65,000 $2,729 4.38%
    50-60% 1 $595,000 $595,000 $3,211 4.00%
    48% 1 $125,000 $125,000 $870 3.95%
    37% 1 $205,000 $205,000 $9,144 4.00%

    Arrowpointe Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 6 originations. The next most common DTI ratio? 20-30%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 18 $3,410,000 $189,444 $3,748 4.52%
    Black 2 $190,000 $95,000 $1,800 4.16%
    Asian 1 $115,000 $115,000 $3,611 3.50%

    Approval Rates

    Total approvals of all applications
    78.85%

    Arrowpointe Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    9.52%

    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 21 $3,715,000 $176,905

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 21 $3,715,000 $176,905

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $65,000 $65,000 $3,524 4.50%
    40-60% 3 $435,000 $145,000 $3,747 4.58%
    60-80% 10 $1,990,000 $199,000 $3,843 4.42%
    80-100% 7 $1,225,000 $175,000 $3,069 4.39%