Arrowpointe Federal Credit Union Mortgage Rates, Fees & Info
Catawba, SCLEI: 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
21Origination Dollar Volume (All Markets)
$3,715,000Top 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 |
|---|---|---|---|---|---|
| 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% |
Their top states include:
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.
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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
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
2019 saw Arrowpointe Federal Credit Union place emphasis on $100k-200k loans with 11 originations, totaling $1,535,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications78.85%
Arrowpointe Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination9.52%
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 |