Atlantic Regional Federal Credit Union Mortgage Rates, Fees & Info

Brunswick, ME

LEI: 5493009JEKX81THMLH86

Tax ID: 01-0211682

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    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, and Bangor among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Atlantic Regional Federal Credit Union has an above 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 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.

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

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.17% 11/23/24
    30 Year Conventional Refi 6.13% 11/23/24
    30 Year Cash-out Refi 6.36% 11/23/24
    15 Year Conventional Purchase 7.58% 11/23/24
    15 Year Conventional Refi 6.20% 11/23/24
    15 Year Cash-out Refi 6.20% 11/23/24
    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

    332

    Origination Dollar Volume (All Markets)

    $49,580,000

    Awards

    ATLANTIC REGIONAL FEDERAL CREDIT UNION 30 Year Conventional Loans bronze ATLANTIC REGIONAL FEDERAL CREDIT UNION 30 Year Conventional Loans silver
    Show all (2) awards

    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) 264 $40,110,000 $151,932 $2,625 5.25%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 34 $4,650,000 $136,765 $2,715 5.19%
    Augusta-Waterville, ME (FHA|USDA|VA) 15 $2,365,000 $157,667 $2,857 4.72%
    Outside of Metro Areas 18 $2,350,000 $130,556 $2,582 4.91%
    BANGOR, ME (FHA|USDA|VA) 1 $105,000 $105,000 $2,811 4.75%
    Atlantic Regional Federal Credit Union's top markets include Portland, Lewiston, Augusta, and Bangor among others.

    Their top states include:
  • Maine (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.

    LISBON COMMUNITY
    Similarity Rank: 65
    Saco Valley Credit Union
    Similarity Rank: 70
    CASCO
    Similarity Rank: 90
    CUMBERLAND COUNTY
    Similarity Rank: 120
    Maine Savings Federal Credit Union
    Similarity Rank: 160
    York County Federal Credit Union
    Similarity Rank: 190
    Bath Savings Institution
    Similarity Rank: 288
    ATLANTIC REGIONAL FEDERAL CREDIT UNION
    Similarity Rank: 295
    FIVE COUNTY
    Similarity Rank: 312
    NORTHEAST CREDIT UNION
    Similarity Rank: 315

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 332 $49,580,000 $149,337 $2,646 5.20%

    For 2018, Atlantic Regional Federal Credit Union's most frequently originated type of loan was Conventional, with 332 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 225 $37,795,000 $167,978 $3,034 5.16%
    Cash Out Refi 55 $6,855,000 $124,636 $2,281 5.18%
    Refi 23 $2,655,000 $115,435 $1,127 5.09%
    NA 11 $1,615,000 $146,818 $0 5.42%
    Home Improvement 10 $370,000 $37,000 $633 4.55%
    Other 8 $290,000 $36,250 $442 7.40%

    For 2018, Atlantic Regional Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 225 originations. The 2nd most popular reason was Cash Out Refi, with 55 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 164 $33,780,000 $205,976 $3,179 4.76%
    15 Year 100 $9,310,000 $93,100 $1,367 5.46%
    20 Year 26 $2,560,000 $98,462 $1,559 6.00%
    10 Year 23 $1,805,000 $78,478 $767 5.26%
    Other 9 $595,000 $66,111 $2,744 5.50%
    5 Year 6 $140,000 $23,333 $221 9.08%
    30+ year 3 $1,245,000 $415,000 $10,801 4.88%
    1 Year 1 $145,000 $145,000 $0 5.25%

    For 2018, Atlantic Regional Federal Credit Union's most frequently cited loan duration was 30 Year, with 164 originations. The 2nd most popular length was 15 Year, with 100 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 236 $37,180,000 $157,542
    $2k-3k 15 $2,435,000 $162,333
    $1k-2k 6 $900,000 $150,000
    $5k+ 4 $1,320,000 $330,000
    $3k-4k 3 $655,000 $218,333
    $4k-5k 2 $540,000 $270,000

    Atlantic Regional Federal Credit Union's average total fees were $3,179, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 236 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 192 $34,740,000 $180,938
    5-6% 82 $10,080,000 $122,927
    6-7% 25 $1,295,000 $51,800
    3-4% 14 $2,760,000 $197,143
    Over 8% 10 $410,000 $41,000
    7-8% 8 $280,000 $35,000
    2.5-3% 1 $15,000 $15,000

    During 2018, Atlantic Regional Federal Credit Union's average interest rate for loans was 4.76%, while their most frequently originated rate bucket for loans was 4-5%, with 192 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 134 $7,030,000 $52,463 $1,131 5.78%
    $100k-200k 99 $14,815,000 $149,646 $2,920 4.86%
    $200k-400k 91 $23,865,000 $262,253 $3,523 4.73%
    $400k-600k 8 $3,870,000 $483,750 $5,074 4.95%

    2018 saw Atlantic Regional Federal Credit Union place emphasis on $100,000 or less loans with 134 originations, totaling $7,030,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 90 $11,670,000 $129,667 $2,486 5.44%
    $50k or less 74 $6,500,000 $87,838 $2,518 5.49%
    $100k-150k 58 $10,440,000 $180,000 $2,551 4.80%
    $75k-100k 50 $8,580,000 $171,600 $2,759 4.98%
    $150k-250k 23 $6,605,000 $287,174 $3,719 4.69%
    $250k+ 5 $1,315,000 $263,000 $4,660 4.57%

    Atlantic Regional Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 90 originations. The second most popular income band? $50k or less, with 74 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 73 $10,545,000 $144,452 $2,510 5.23%
    30-36% 63 $8,565,000 $135,952 $2,488 5.22%
    <20% 16 $2,150,000 $134,375 $2,745 4.68%
    44% 15 $2,665,000 $177,667 $3,058 4.87%
    41% 14 $3,060,000 $218,571 $3,505 4.96%
    46% 11 $1,175,000 $106,818 $2,122 6.11%
    43% 11 $1,715,000 $155,909 $2,531 5.16%
    48% 11 $1,575,000 $143,182 $2,121 5.46%
    42% 10 $1,680,000 $168,000 $2,965 4.79%
    40% 9 $2,245,000 $249,444 $3,522 4.61%
    38% 9 $1,065,000 $118,333 $2,828 5.42%
    37% 8 $1,150,000 $143,750 $2,777 4.99%
    47% 8 $1,710,000 $213,750 $3,063 5.16%
    39% 8 $1,360,000 $170,000 $2,830 4.94%
    45% 7 $835,000 $119,286 $2,287 4.84%
    36% 7 $845,000 $120,714 $3,318 5.02%
    49% 6 $1,020,000 $170,000 $3,130 4.98%
    50-60% 2 $80,000 $40,000 $376 7.62%
    >60% 2 $420,000 $210,000 $5,779 5.38%

    Atlantic Regional Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 73 originations. The next most common DTI ratio? 30-36%, with 63 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 309 $44,965,000 $145,518 $2,632 5.19%
    Not applicable 17 $3,355,000 $197,353 $0 5.47%
    Not provided 5 $1,055,000 $211,000 $3,252 5.25%
    Asian 1 $205,000 $205,000 $3,631 4.75%

    Approval Rates

    Total approvals of all applications
    90.60%

    Atlantic Regional Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.70%

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

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $15,000 $15,000
    11.5 12 $530,000 $44,167
    14.0 9 $435,000 $48,333
    NA 310 $48,600,000 $156,774

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $1,115,000 $371,667
    Single Family (1-4 Units):Manufactured 78 $4,610,000 $59,103
    Single Family (1-4 Units):Site-Built 251 $43,855,000 $174,721

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $1,580,000 $71,818 $1,423 5.12%
    40-60% 34 $4,140,000 $121,765 $2,960 5.04%
    60-80% 66 $10,460,000 $158,485 $3,161 5.10%
    80-100% 172 $31,180,000 $181,279 $3,063 5.13%
    Over 100% 1 $465,000 $465,000 $0 5.75%
    Under 20% 28 $1,210,000 $43,214 $422 5.88%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Atlantic Union Bankshares, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Atlantic Union Bankshares, Inc. Other type of mortgage Trouble during payment process 1 50.0%