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

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  • 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 and Cash Out Refi loans. Atlantic Regional Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA 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 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

    629

    Origination Dollar Volume (All Markets)

    $86,595,000

    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
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 532 $73,420,000 $138,008 $2,230 5.25%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 50 $6,600,000 $132,000 $2,475 5.27%
    Outside of Metro Areas 29 $4,135,000 $142,586 $2,413 4.73%
    Augusta-Waterville, ME (FHA|USDA|VA) 15 $1,965,000 $131,000 $2,333 5.47%
    BANGOR, ME (FHA|USDA|VA) 3 $475,000 $158,333 $3,624 4.67%
    Atlantic Regional Federal Credit Union's top markets include Portland, Lewiston, Augusta, 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.

    MAINE FAMILY
    Similarity Rank: 6
    Piscataqua Savings Bank
    Similarity Rank: 52
    CASCO
    Similarity Rank: 126
    Maine Savings Federal Credit Union
    Similarity Rank: 161
    CUMBERLAND COUNTY
    Similarity Rank: 320
    Saco Valley Credit Union
    Similarity Rank: 328
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 336
    INTEGRITY MORTGAGE LLC
    Similarity Rank: 350
    NORTHEAST CREDIT UNION
    Similarity Rank: 352
    FIVE COUNTY
    Similarity Rank: 355

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 626 $86,110,000 $137,556 $2,252 5.23%
    VA 2 $310,000 $155,000 $4,754 4.19%
    USDA 1 $175,000 $175,000 $4,853 4.50%

    For 2019, Atlantic Regional Federal Credit Union's most frequently originated type of loan was Conventional, with 626 originations. Their 2nd most popular type was VA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 304 $52,960,000 $174,211 $3,073 5.20%
    Cash Out Refi 202 $22,480,000 $111,287 $1,877 5.10%
    Refi 42 $5,890,000 $140,238 $2,305 4.94%
    Other 41 $2,145,000 $52,317 $434 5.76%
    Home Improvement 29 $1,955,000 $67,414 $777 5.83%
    NA 11 $1,165,000 $105,909 $0 5.75%

    For 2019, Atlantic Regional Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 304 originations. The 2nd most popular reason was Cash Out Refi, with 202 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 236 $54,860,000 $232,458 $3,434 4.20%
    15 Year 207 $16,665,000 $80,507 $1,393 5.90%
    10 Year 74 $4,550,000 $61,486 $512 5.38%
    20 Year 57 $5,115,000 $89,737 $1,334 6.41%
    5 Year 24 $1,750,000 $72,917 $371 5.76%
    Other 23 $1,485,000 $64,565 $755 5.93%
    30+ year 8 $2,170,000 $271,250 $8,802 4.52%

    For 2019, Atlantic Regional Federal Credit Union's most frequently cited loan duration was 30 Year, with 236 originations. The 2nd most popular length was 15 Year, with 207 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 510 $65,350,000 $128,137
    $1k-2k 38 $5,490,000 $144,474
    $2k-3k 19 $4,225,000 $222,368
    $4k-5k 9 $2,485,000 $276,111
    $3k-4k 8 $1,550,000 $193,750
    $5k+ 7 $2,055,000 $293,571

    Atlantic Regional Federal Credit Union's average total fees were $3,434, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 510 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 212 $33,730,000 $159,104
    3-4% 133 $32,825,000 $246,805
    5-6% 116 $10,070,000 $86,810
    6-7% 108 $6,480,000 $60,000
    7-8% 28 $1,260,000 $45,000
    Over 8% 26 $1,140,000 $43,846
    2.5-3% 5 $775,000 $155,000
    <2.5% 1 $315,000 $315,000

    During 2019, Atlantic Regional Federal Credit Union's average interest rate for loans was 4.20%, while their most frequently originated rate bucket for loans was 4-5%, with 212 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 310 $15,410,000 $49,710 $746 6.16%
    $200k-400k 154 $41,260,000 $267,922 $3,848 4.10%
    $100k-200k 147 $21,405,000 $145,612 $2,851 4.60%
    $400k-600k 15 $6,575,000 $438,333 $3,887 3.93%
    $600k-1MM 3 $1,945,000 $648,333 $3,879 4.30%

    2019 saw Atlantic Regional Federal Credit Union place emphasis on $100,000 or less loans with 310 originations, totaling $15,410,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 156 $18,120,000 $116,154 $2,097 5.25%
    $50k or less 139 $10,245,000 $73,705 $1,776 6.14%
    $100k-150k 126 $22,720,000 $180,317 $2,523 4.71%
    $75k-100k 109 $15,695,000 $143,991 $2,427 4.93%
    $150k-250k 53 $11,745,000 $221,604 $2,657 4.52%
    $250k+ 5 $2,075,000 $415,000 $3,523 3.90%

    Atlantic Regional Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 156 originations. The second most popular income band? $50k or less, with 139 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 135 $18,985,000 $140,630 $2,140 5.12%
    30-36% 120 $15,410,000 $128,417 $2,215 5.14%
    <20% 36 $4,850,000 $134,722 $2,445 4.53%
    43% 32 $3,620,000 $113,125 $2,221 5.43%
    40% 27 $4,355,000 $161,296 $2,668 5.22%
    45% 25 $3,565,000 $142,600 $2,627 5.34%
    46% 25 $3,995,000 $159,800 $2,082 5.29%
    44% 25 $3,615,000 $144,600 $2,077 5.25%
    39% 24 $3,670,000 $152,917 $2,399 5.04%
    49% 20 $2,570,000 $128,500 $2,115 5.61%
    47% 17 $2,535,000 $149,118 $2,289 5.85%
    48% 16 $2,340,000 $146,250 $1,948 5.13%
    42% 15 $1,775,000 $118,333 $2,390 5.48%
    36% 15 $1,965,000 $131,000 $3,123 4.73%
    37% 15 $2,655,000 $177,000 $3,086 5.40%
    38% 15 $2,115,000 $141,000 $2,610 5.47%
    41% 14 $1,650,000 $117,857 $2,564 5.20%
    50-60% 8 $470,000 $58,750 $698 7.03%
    >60% 5 $475,000 $95,000 $578 4.80%

    Atlantic Regional Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 135 originations. The next most common DTI ratio? 30-36%, with 120 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 573 $79,225,000 $138,264 $2,286 5.19%
    Not applicable 39 $5,745,000 $147,308 $1,609 5.55%
    Not provided 11 $895,000 $81,364 $1,081 6.23%
    Black 2 $320,000 $160,000 $2,504 5.56%
    Asian 3 $265,000 $88,333 $1,749 5.04%
    American Indian 1 $145,000 $145,000 $3,056 3.38%

    Approval Rates

    Total approvals of all applications
    88.91%

    Atlantic Regional Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.19%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 629 $86,595,000 $137,671

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $2,290,000 $286,250
    Single Family (1-4 Units):Manufactured 137 $7,895,000 $57,628
    Single Family (1-4 Units):Site-Built 484 $76,410,000 $157,872

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 76 $5,540,000 $72,895 $857 5.19%
    40-60% 62 $7,070,000 $114,032 $2,448 5.35%
    60-80% 121 $18,135,000 $149,876 $3,732 5.35%
    80-100% 269 $52,165,000 $193,922 $2,932 4.98%
    Over 100% 1 $155,000 $155,000 $2,274 4.50%
    Under 20% 99 $3,435,000 $34,697 $452 5.72%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Atlantic Union Bankshares, Inc. Conventional home mortgage Closing on a mortgage 1 33.3%
    Atlantic Union Bankshares, Inc. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    Atlantic Union Bankshares, Inc. Conventional home mortgage Trouble during payment process 1 33.3%