Arrha Credit Union Mortgage Rates, Fees & Info

Springfield, MA

LEI: 549300CGP3B8XPP1N814

Tax ID: 04-1859690

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
  • 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

    Arrha Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Arrha Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Hartford, Barnstable Town, Miami, and Boston among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Arrha 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. Arrha 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 6.19% 12/16/24
    30 Year Conventional Refi 6.29% 12/16/24
    30 Year Cash-out Refi 6.36% 12/16/24
    15 Year Conventional Purchase 5.68% 12/16/24
    15 Year Conventional Refi 5.79% 12/16/24
    15 Year Cash-out Refi 5.79% 12/16/24
    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.

    Arrha Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Arrha 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

    104

    Origination Dollar Volume (All Markets)

    $15,030,000

    Awards

    ARRHA Credit Union 30 Year Conventional Loans gold ARRHA Credit Union 30 Year Conventional Loans silver ARRHA Credit Union 30 Year Conventional Loans silver
    Show all (3) 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
    SPRINGFIELD, MA (FHA|USDA|VA) 95 $12,655,000 $133,211 $1,732 4.13%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 6 $910,000 $151,667 $1,681 5.13%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $625,000 $625,000 $4,363 3.63%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $425,000 $425,000 $5,520 4.25%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $415,000 $415,000 $3,386 4.00%
    Arrha Credit Union's top markets include Springfield, Hartford, Barnstable Town, Miami, and Boston among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against ARRHA Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Freedom Credit Union
    Similarity Rank: 78
    ARRHA Credit Union
    Similarity Rank: 105
    POLISH NATIONAL
    Similarity Rank: 130
    LUSO
    Similarity Rank: 144
    Florence Bank
    Similarity Rank: 150
    Adams Community Bank
    Similarity Rank: 156
    Greenfield Savings Bank
    Similarity Rank: 160
    Country Bank for Savings
    Similarity Rank: 180
    Easthampton Savings Bank
    Similarity Rank: 210
    GREATER SPRINGFIELD CREDIT UNION
    Similarity Rank: 216

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 104 $15,030,000 $144,519 $1,808 4.18%

    For 2022, Arrha Credit Union's most frequently originated type of loan was Conventional, with 104 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 36 $5,450,000 $151,389 $2,183 3.94%
    Other 35 $1,755,000 $50,143 $538 4.55%
    Home Purchase 21 $5,955,000 $283,571 $3,263 4.48%
    Refi 11 $1,845,000 $167,727 $2,047 3.27%
    Home Improvement 1 $25,000 $25,000 $363 3.75%

    For 2022, Arrha Credit Union's most frequently cited loan purpose was Cash Out Refi, with 36 originations. The 2nd most popular reason was Other, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 40 $9,720,000 $243,000 $2,978 4.28%
    20 Year 19 $1,295,000 $68,158 $897 4.97%
    10 Year 18 $1,170,000 $65,000 $726 4.15%
    15 Year 17 $2,525,000 $148,529 $1,945 3.62%
    5 Year 10 $320,000 $32,000 $359 3.30%

    For 2022, Arrha Credit Union's most frequently cited loan duration was 30 Year, with 40 originations. The 2nd most popular length was 20 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 102 $14,690,000 $144,020

    Arrha Credit Union's average total fees were $2,978, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 102 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 31 $5,045,000 $162,742
    4-5% 26 $4,300,000 $165,385
    2.5-3% 22 $2,630,000 $119,545
    5-6% 19 $1,895,000 $99,737
    6-7% 4 $840,000 $210,000
    <2.5% 1 $285,000 $285,000
    7-8% 1 $35,000 $35,000

    During 2022, Arrha Credit Union's average interest rate for loans was 4.28%, while their most frequently originated rate bucket for loans was 3-4%, with 31 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 46 $2,020,000 $43,913 $611 4.34%
    $100k-200k 29 $4,505,000 $155,345 $2,519 3.99%
    $200k-400k 26 $7,040,000 $270,769 $2,901 4.14%
    $400k-600k 2 $840,000 $420,000 $4,453 4.13%
    $600k-1MM 1 $625,000 $625,000 $4,363 3.63%

    2022 saw Arrha Credit Union place emphasis on $100,000 or less loans with 46 originations, totaling $2,020,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 29 $3,635,000 $125,345 $1,842 4.09%
    $100k-150k 25 $3,855,000 $154,200 $1,616 4.36%
    $75k-100k 19 $2,365,000 $124,474 $1,813 3.97%
    $150k-250k 14 $2,210,000 $157,857 $1,706 4.35%
    $50k or less 10 $850,000 $85,000 $1,638 4.02%
    $250k+ 4 $1,410,000 $352,500 $3,486 3.94%

    Arrha Credit Union lent most frequently to those with incomes in the $50k-75k range, with 29 originations. The second most popular income band? $100k-150k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 24 $2,870,000 $119,583 $1,188 4.03%
    30-36% 13 $2,245,000 $172,692 $1,875 3.76%
    <20% 12 $2,190,000 $182,500 $2,538 3.89%
    44% 11 $1,355,000 $123,182 $1,668 4.86%
    42% 8 $1,170,000 $146,250 $2,036 4.36%
    47% 5 $805,000 $161,000 $2,146 3.20%
    41% 4 $350,000 $87,500 $1,486 4.66%
    37% 4 $640,000 $160,000 $2,284 5.16%
    38% 4 $180,000 $45,000 $872 4.31%
    43% 3 $455,000 $151,667 $2,297 4.42%
    39% 2 $470,000 $235,000 $2,508 3.75%
    45% 2 $480,000 $240,000 $2,678 4.38%
    46% 2 $340,000 $170,000 $1,535 4.88%
    36% 2 $210,000 $105,000 $1,487 2.81%
    49% 2 $210,000 $105,000 $2,640 4.06%
    48% 1 $45,000 $45,000 $331 3.99%
    40% 1 $205,000 $205,000 $2,799 5.13%

    Arrha Credit Union lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 13 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 60 $7,340,000 $122,333 $1,518 4.22%
    Not provided 31 $5,635,000 $181,774 $2,275 4.00%
    Black 10 $1,120,000 $112,000 $1,922 4.65%
    Asian Indian 1 $415,000 $415,000 $3,386 4.00%
    Asian 1 $285,000 $285,000 $1,788 2.38%
    Not applicable 1 $235,000 $235,000 $0 4.88%

    Approval Rates

    Total approvals of all applications
    76.14%

    Arrha Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.58%

    Arrha Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 104 $15,030,000 $144,519

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    104 $15,030,000 $144,519

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $1,210,000 $75,625 $1,178 4.26%
    40-60% 14 $2,230,000 $159,286 $2,488 4.21%
    60-80% 28 $6,250,000 $223,214 $2,810 4.00%
    80-100% 14 $4,210,000 $300,714 $3,076 4.09%
    Under 20% 32 $1,130,000 $35,313 $407 4.33%