Atlantic Regional Federal Credit Union Mortgage Rates, Fees & Info

Brunswick, ME

LEI: 5493009JEKX81THMLH86

Tax ID: 01-0211682

5 stars - Updated: 3/29/24 - out of 5 stars, based on 23 reviews

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

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Mortgage Data

Review & Overview

Atlantic Regional Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Atlantic Regional Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Lewiston, Augusta, Boston, and Bangor among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Atlantic Regional 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. Atlantic Regional 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 relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.17% 3/29/24
30 Year Conventional Refi 6.13% 3/29/24
30 Year Cash-out Refi 6.36% 3/29/24
15 Year Conventional Purchase 7.58% 3/29/24
15 Year Conventional Refi 6.20% 3/29/24
15 Year Cash-out Refi 6.20% 3/29/24
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.

Atlantic Regional Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Atlantic Regional Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

527

Origination Dollar Volume (All Markets)

$87,315,000

Awards

ATLANTIC REGIONAL FEDERAL CREDIT UNION 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

Atlantic Regional Federal Credit Union's average 30 year fixed mortgage rate was 7.21%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.73%.

Relative Fees (Closing Costs)

Atlantic Regional Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,675.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 426 $60,490,000 $141,995 $1,228 7.96%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 52 $10,510,000 $202,115 $1,494 8.19%
Augusta-Waterville, ME (FHA|USDA|VA) 16 $4,870,000 $304,375 $1,957 7.57%
Outside of Metro Areas 26 $4,850,000 $186,538 $2,823 7.52%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $4,220,000 $2,110,000 $3,501 4.94%
BANGOR, ME (FHA|USDA|VA) 5 $2,375,000 $475,000 $1,938 7.75%
Atlantic Regional Federal Credit Union's top markets include Portland, Lewiston, Augusta, Boston, and Bangor among others.

Their top states include:
  • Maine (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against ATLANTIC REGIONAL 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 527 $87,315,000 $165,683 $1,356 7.93%

    For 2023, Atlantic Regional Federal Credit Union's most frequently originated type of loan was Conventional, with 527 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 205 $57,005,000 $278,073 $2,455 8.27%
    Home Improvement 163 $10,475,000 $64,264 $483 7.86%
    Cash Out Refi 154 $15,600,000 $101,299 $1,017 7.58%
    Refi 5 $4,235,000 $847,000 $1,884 7.00%

    For 2023, Atlantic Regional Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 205 originations. The 2nd most popular reason was Home Improvement, with 163 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 219 $15,395,000 $70,297 $674 8.22%
    20 Year 92 $8,260,000 $89,783 $1,407 9.18%
    10 Year 77 $10,755,000 $139,675 $530 7.21%
    30 Year 72 $22,390,000 $310,972 $3,675 7.21%
    5 Year 53 $25,395,000 $479,151 $452 6.78%
    Other 7 $1,075,000 $153,571 $3,136 6.69%
    30+ year 6 $2,360,000 $393,333 $6,855 7.81%
    3 Year 1 $1,685,000 $1,685,000 $0 7.65%

    For 2023, Atlantic Regional Federal Credit Union's most frequently cited loan duration was 15 Year, with 219 originations. The 2nd most popular length was 20 Year, with 92 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 385 $26,065,000 $67,701
    $1k-2k 92 $25,670,000 $279,022
    $2k-3k 4 $910,000 $227,500
    $3k-4k 2 $660,000 $330,000
    $5k+ 2 $420,000 $210,000

    Atlantic Regional Federal Credit Union's average total fees were $3,675, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 385 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 221 $20,815,000 $94,186
    7-8% 179 $25,855,000 $144,441
    6-7% 105 $21,465,000 $204,429
    5-6% 15 $13,425,000 $895,000
    4-5% 7 $5,755,000 $822,143

    During 2023, Atlantic Regional Federal Credit Union's average interest rate for loans was 7.21%, while their most frequently originated rate bucket for loans was Over 8%, with 221 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 343 $19,265,000 $56,166 $726 8.14%
    $100k-200k 85 $11,435,000 $134,529 $1,492 8.15%
    $200k-400k 63 $17,885,000 $283,889 $3,681 7.22%
    $400k-600k 17 $8,165,000 $480,294 $4,392 6.69%
    $1MM+ 11 $24,945,000 $2,267,727 $0 6.20%
    $600k-1MM 8 $5,620,000 $702,500 $4,391 7.13%

    2023 saw Atlantic Regional Federal Credit Union place emphasis on $100,000 or less loans with 343 originations, totaling $19,265,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 125 $11,095,000 $88,760 $1,288 8.42%
    $100k-150k 118 $15,340,000 $130,000 $1,346 7.78%
    $75k-100k 92 $8,050,000 $87,500 $1,225 7.95%
    $50k or less 80 $5,190,000 $64,875 $1,177 8.41%
    $150k-250k 74 $13,540,000 $182,973 $1,735 7.45%
    $250k+ 9 $2,455,000 $272,778 $1,819 6.93%

    Atlantic Regional Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 125 originations. The second most popular income band? $100k-150k, with 118 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 82 $8,880,000 $108,293 $1,355 8.10%
    20-30% 70 $6,390,000 $91,286 $1,225 7.70%
    49% 35 $4,395,000 $125,571 $1,235 8.38%
    48% 31 $4,115,000 $132,742 $1,912 7.75%
    50-60% 30 $2,810,000 $93,667 $860 8.26%
    44% 23 $2,635,000 $114,565 $1,343 7.97%
    47% 23 $3,595,000 $156,304 $1,821 8.36%
    40% 23 $3,885,000 $168,913 $1,869 7.85%
    <20% 23 $2,355,000 $102,391 $696 7.59%
    45% 21 $2,135,000 $101,667 $1,256 8.38%
    37% 21 $2,945,000 $140,238 $1,626 7.64%
    46% 19 $1,505,000 $79,211 $979 8.08%
    38% 18 $2,200,000 $122,222 $1,636 8.29%
    42% 17 $1,485,000 $87,353 $1,088 8.34%
    39% 16 $1,760,000 $110,000 $1,762 7.84%
    36% 16 $1,320,000 $82,500 $833 7.96%
    43% 14 $1,480,000 $105,714 $1,319 7.95%
    41% 10 $840,000 $84,000 $1,612 8.67%
    >60% 5 $895,000 $179,000 $4,327 6.80%

    Atlantic Regional Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 82 originations. The next most common DTI ratio? 20-30%, with 70 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 455 $50,495,000 $110,978 $1,356 8.03%
    Not applicable 28 $31,690,000 $1,131,786 $0 6.52%
    Not provided 27 $2,965,000 $109,815 $1,350 7.94%
    Asian 5 $865,000 $173,000 $2,127 7.08%
    American Indian 6 $580,000 $96,667 $1,272 7.37%
    Black 5 $575,000 $115,000 $1,354 8.65%
    Other Asian 1 $145,000 $145,000 $608 7.49%

    Approval Rates

    Total approvals of all applications
    82.18%

    Atlantic Regional Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.20%

    Atlantic Regional Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 527 $87,315,000 $165,683

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    527 $87,315,000 $165,683

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 83 $8,875,000 $106,928 $802 7.84%
    40-60% 22 $4,440,000 $201,818 $2,971 8.02%
    60-80% 63 $21,835,000 $346,587 $3,207 8.05%
    80-100% 141 $25,415,000 $180,248 $2,275 8.43%
    Over 100% 9 $11,395,000 $1,266,111 $3,383 6.41%
    Under 20% 205 $10,575,000 $51,585 $489 7.66%