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 Cash Out Refi and 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, Bangor, and Boston among others. We have data for 7 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.

    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% 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

    927

    Origination Dollar Volume (All Markets)

    $173,715,000

    Awards

    ATLANTIC REGIONAL FEDERAL CREDIT UNION 30 Year Conventional Loans gold ATLANTIC REGIONAL FEDERAL CREDIT UNION 30 Year Conventional Loans gold ATLANTIC REGIONAL FEDERAL CREDIT UNION 30 Year Conventional Loans gold ATLANTIC REGIONAL FEDERAL CREDIT UNION 30 Year Conventional Loans silver
    Show all (4) 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) 808 $153,820,000 $190,371 $1,730 3.92%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 63 $8,695,000 $138,016 $1,933 4.61%
    Outside of Metro Areas 31 $5,825,000 $187,903 $2,394 3.43%
    Augusta-Waterville, ME (FHA|USDA|VA) 21 $4,965,000 $236,429 $2,026 4.00%
    BANGOR, ME (FHA|USDA|VA) 2 $200,000 $100,000 $981 3.88%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $125,000 $125,000 $918 4.00%
    Concord, NH (FHA|USDA|VA) 1 $85,000 $85,000 $1,615 6.00%
    Atlantic Regional Federal Credit Union's top markets include Portland, Lewiston, Augusta, Bangor, and Boston 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: 60
    Piscataqua Savings Bank
    Similarity Rank: 136
    CUMBERLAND COUNTY
    Similarity Rank: 176
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 222
    CASCO
    Similarity Rank: 324
    Maine Savings Federal Credit Union
    Similarity Rank: 476
    FIVE COUNTY
    Similarity Rank: 484
    MEMBERS MORTGAGE COMPANY, INC.
    Similarity Rank: 570
    Kennebec Savings Bank
    Similarity Rank: 605
    First National Bank
    Similarity Rank: 606

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 927 $173,715,000 $187,395 $1,769 3.95%

    For 2020, Atlantic Regional Federal Credit Union's most frequently originated type of loan was Conventional, with 927 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 385 $65,995,000 $171,416 $1,196 3.81%
    Home Purchase 323 $67,675,000 $209,520 $3,055 4.40%
    Refi 177 $32,545,000 $183,870 $1,120 3.46%
    Home Improvement 42 $7,500,000 $178,571 $1,484 3.92%

    For 2020, Atlantic Regional Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 385 originations. The 2nd most popular reason was Home Purchase, with 323 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 409 $101,005,000 $246,956 $2,440 3.47%
    15 Year 291 $38,905,000 $133,694 $1,116 4.21%
    20 Year 126 $18,130,000 $143,889 $1,127 4.83%
    10 Year 63 $10,635,000 $168,810 $630 3.86%
    5 Year 22 $2,160,000 $98,182 $311 4.80%
    Other 11 $1,615,000 $146,818 $1,684 4.09%
    30+ year 5 $1,265,000 $253,000 $9,268 4.13%

    For 2020, Atlantic Regional Federal Credit Union's most frequently cited loan duration was 30 Year, with 409 originations. The 2nd most popular length was 15 Year, with 291 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 874 $157,480,000 $180,183
    $1k-2k 10 $1,920,000 $192,000
    $3k-4k 9 $2,135,000 $237,222
    $2k-3k 4 $1,100,000 $275,000
    $5k+ 4 $1,500,000 $375,000
    $4k-5k 2 $600,000 $300,000

    Atlantic Regional Federal Credit Union's average total fees were $2,440, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 874 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 462 $103,760,000 $224,589
    2.5-3% 230 $48,200,000 $209,565
    4-5% 90 $12,410,000 $137,889
    6-7% 70 $4,570,000 $65,286
    5-6% 31 $2,045,000 $65,968
    7-8% 29 $1,815,000 $62,586
    Over 8% 13 $625,000 $48,077
    <2.5% 2 $290,000 $145,000

    During 2020, Atlantic Regional Federal Credit Union's average interest rate for loans was 3.47%, while their most frequently originated rate bucket for loans was 3-4%, with 462 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 325 $87,605,000 $269,554 $2,409 3.36%
    $100k-200k 322 $49,190,000 $152,764 $1,564 3.61%
    $100,000 or less 238 $13,010,000 $54,664 $602 5.34%
    $400k-600k 35 $16,095,000 $459,857 $3,449 3.27%
    $600k-1MM 4 $2,780,000 $695,000 $4,148 3.56%
    $1MM+ 3 $5,035,000 $1,678,333 $2,749 3.67%

    2020 saw Atlantic Regional Federal Credit Union place emphasis on $200k-400k loans with 325 originations, totaling $87,605,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 234 $34,850,000 $148,932 $1,629 4.07%
    $100k-150k 204 $44,820,000 $219,706 $2,037 3.59%
    $50k or less 186 $20,440,000 $109,892 $1,487 4.66%
    $75k-100k 163 $32,155,000 $197,270 $1,789 3.76%
    $150k-250k 96 $25,020,000 $260,625 $1,874 3.48%
    $250k+ 19 $7,405,000 $389,737 $2,441 3.20%

    Atlantic Regional Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 234 originations. The second most popular income band? $100k-150k, with 204 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 211 $37,325,000 $176,896 $1,634 3.77%
    30-36% 157 $30,795,000 $196,146 $1,794 3.78%
    <20% 77 $12,655,000 $164,351 $1,358 3.48%
    43% 39 $6,745,000 $172,949 $2,488 4.41%
    47% 38 $6,770,000 $178,158 $1,921 4.21%
    36% 31 $5,255,000 $169,516 $1,682 4.22%
    45% 31 $5,995,000 $193,387 $1,926 4.08%
    42% 30 $6,270,000 $209,000 $1,993 3.58%
    37% 30 $5,610,000 $187,000 $1,921 3.96%
    40% 30 $4,830,000 $161,000 $1,456 4.01%
    46% 30 $5,140,000 $171,333 $1,322 4.35%
    49% 30 $5,480,000 $182,667 $2,147 4.46%
    44% 29 $5,465,000 $188,448 $1,803 4.23%
    48% 28 $5,230,000 $186,786 $2,022 4.18%
    41% 28 $5,180,000 $185,000 $2,377 3.83%
    39% 27 $6,025,000 $223,148 $2,007 4.22%
    38% 23 $4,625,000 $201,087 $2,247 4.22%
    50-60% 21 $2,835,000 $135,000 $1,502 4.48%
    >60% 6 $1,160,000 $193,333 $914 3.35%

    Atlantic Regional Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 211 originations. The next most common DTI ratio? 30-36%, with 157 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 819 $148,105,000 $180,836 $1,795 3.94%
    Not provided 74 $14,150,000 $191,216 $1,456 3.93%
    Not applicable 21 $8,445,000 $402,143 $0 4.69%
    Black 3 $875,000 $291,667 $2,569 3.33%
    Asian 3 $825,000 $275,000 $2,557 3.04%
    American Indian 5 $815,000 $163,000 $981 4.73%
    Chinese 1 $425,000 $425,000 $3,507 2.88%
    Other Asian 1 $75,000 $75,000 $303 3.63%

    Approval Rates

    Total approvals of all applications
    87.29%

    Atlantic Regional Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.42%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 927 $173,715,000 $187,395

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $4,010,000 $2,005,000
    Multifamily:Site-Built 5 $1,595,000 $319,000
    Single Family (1-4 Units):Manufactured 119 $7,855,000 $66,008
    Single Family (1-4 Units):Site-Built 801 $160,255,000 $200,069

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 90 $9,570,000 $106,333 $746 3.64%
    40-60% 138 $24,260,000 $175,797 $1,242 3.58%
    60-80% 289 $57,985,000 $200,640 $1,620 3.91%
    80-100% 338 $78,820,000 $233,195 $2,766 4.09%
    Over 100% 1 $155,000 $155,000 $0 5.00%
    Under 20% 70 $2,780,000 $39,714 $352 4.60%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Atlantic Union Bankshares, Inc. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%