Arbor Financial Credit Union Mortgage Rates, Fees & Info

KALAMAZOO, MI

LEI: 549300E5018DD89WPX79

Tax ID: 38-0703992

5 stars - Updated: 6/22/25 - out of 5 stars, based on 26 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Arbor Financial Credit Union is a smaller credit union specializing in Home Purchase loans. Arbor Financial Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Kalamazoo, Holland, Grand Rapids, Sturgis, and Battle Creek among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Arbor Financial 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. Arbor Financial 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
    Home Equity Line of Credit (HELOC) 7.27% 6/22/25
    30 Year Conventional Purchase 6.99% 6/22/25
    30 Year Conventional Refi 7.04% 6/22/25
    30 Year Cash-out Refi 7.32% 6/22/25
    30 Year FHA Purchase 7.57% 6/22/25
    15 Year Conventional Purchase 6.36% 6/22/25
    15 Year Conventional Refi 6.01% 6/22/25
    15 Year Cash-out Refi 6.01% 6/22/25
    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.

    Arbor Financial Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Arbor Financial 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

    701

    Origination Dollar Volume (All Markets)

    $113,775,000

    Awards

    ARBOR FINANCIAL CREDIT UNION 30 Year Conventional Loans bronze
    Show all (1) awards

    Relative Rate

    Arbor Financial Credit Union's average 30 year fixed mortgage rate was 6.78%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.23%.

    Relative Fees (Closing Costs)

    Arbor Financial Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,792.

    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 $8,356.

    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
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 365 $59,685,000 $163,521 $3,163 7.62%
    Outside of Metro Areas 113 $18,805,000 $166,416 $3,168 7.67%
    Holland, MI (FHA|USDA|VA) 57 $8,945,000 $156,930 $2,975 7.90%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 47 $8,705,000 $185,213 $2,991 7.65%
    Sturgis, MI (FHA|USDA|VA) 44 $4,910,000 $111,591 $2,322 7.81%
    BATTLE CREEK, MI (FHA|USDA|VA) 18 $2,730,000 $151,667 $3,501 7.08%
    NILES, MI (FHA|USDA|VA) 10 $1,660,000 $166,000 $3,496 6.93%
    Traverse City, MI (FHA|USDA|VA) 4 $1,620,000 $405,000 $4,774 6.78%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 13 $1,505,000 $115,769 $2,935 7.40%
    ANN ARBOR, MI (FHA|USDA|VA) 5 $1,035,000 $207,000 $3,448 7.48%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 6 $1,030,000 $171,667 $3,191 6.92%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 3 $645,000 $215,000 $3,132 7.21%
    Hillsdale, MI (FHA|USDA|VA) 2 $520,000 $260,000 $4,244 6.69%
    Coldwater, MI (FHA|USDA|VA) 4 $480,000 $120,000 $3,236 7.53%
    MONROE, MI (FHA|USDA|VA) 1 $385,000 $385,000 $6,535 7.13%
    SAGINAW, MI (FHA|USDA|VA) 2 $380,000 $190,000 $3,079 6.69%
    Ludington, MI (FHA|USDA|VA) 1 $245,000 $245,000 $3,729 5.63%
    JACKSON, MI (FHA|USDA|VA) 2 $180,000 $90,000 $2,382 7.69%
    MUSKEGON, MI (FHA|USDA|VA) 2 $140,000 $70,000 $778 8.19%
    Big Rapids, MI (FHA|USDA|VA) 1 $125,000 $125,000 $0 8.00%
    FLINT, MI (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.50%
    Arbor Financial Credit Union's top markets include Kalamazoo, Holland, Grand Rapids, Sturgis, and Battle Creek among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)

    • Similar Lenders

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

    MICHIGAN SCHOOLS AND GOVERNMENT
    Similarity Rank: 64
    MARSHALL COMMUNITY CREDIT UNION
    Similarity Rank: 78
    PFCU
    Similarity Rank: 120
    AAC Credit Union
    Similarity Rank: 138
    KALSEE CREDIT UNION
    Similarity Rank: 189
    FIRST CHOICE MH LLC
    Similarity Rank: 189
    ChoiceOne Bank
    Similarity Rank: 322
    Adventure Credit Union
    Similarity Rank: 480
    OMNI Community Credit Union
    Similarity Rank: 528
    Kellogg Community Credit Union
    Similarity Rank: 658

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 474 $95,960,000 $202,447 $3,065 7.08%
    HELOC 221 $16,695,000 $75,543 n/a 8.80%
    FHA 6 $1,120,000 $186,667 $6,824 6.79%

    For 2024, Arbor Financial Credit Union's most frequently originated type of loan was Conventional, with 474 originations. Their 2nd most popular type was HELOC, with 221 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 284 $73,810,000 $259,894 $4,050 6.73%
    Other 223 $17,545,000 $78,677 $1,259 8.33%
    Cash Out Refi 108 $14,910,000 $138,056 $2,029 7.80%
    Home Improvement 65 $4,445,000 $68,385 $6,658 8.83%
    Refi 21 $3,065,000 $145,952 $2,875 7.38%

    For 2024, Arbor Financial Credit Union's most frequently cited loan purpose was Home Purchase, with 284 originations. The 2nd most popular reason was Other, with 223 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 294 $71,460,000 $243,061 $3,792 6.78%
    20 Year 244 $19,430,000 $79,631 $1,476 8.73%
    15 Year 83 $8,165,000 $98,373 $1,379 7.69%
    10 Year 44 $3,210,000 $72,955 $1,357 7.41%
    30+ year 18 $8,520,000 $473,333 $6,822 6.98%
    Other 11 $1,545,000 $140,455 $2,586 6.17%
    5 Year 5 $855,000 $171,000 $0 8.35%
    1 Year 2 $590,000 $295,000 $3,019 8.06%

    For 2024, Arbor Financial Credit Union's most frequently cited loan duration was 30 Year, with 294 originations. The 2nd most popular length was 20 Year, with 244 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 289 $68,905,000 $238,426
    $<1k 128 $11,290,000 $88,203
    $2k-3k 34 $8,470,000 $249,118
    $3k-4k 8 $3,610,000 $451,250
    $5k+ 3 $1,055,000 $351,667
    $4k-5k 2 $510,000 $255,000

    Arbor Financial Credit Union's average total fees were $3,792, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 289 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 252 $19,600,000 $77,778
    6-7% 235 $57,425,000 $244,362
    7-8% 176 $29,880,000 $169,773
    5-6% 35 $6,395,000 $182,714
    4-5% 2 $320,000 $160,000
    3-4% 1 $155,000 $155,000

    During 2024, Arbor Financial Credit Union's average interest rate for loans was 6.78%, while their most frequently originated rate bucket for loans was Over 8%, with 252 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 285 $15,225,000 $53,421 $1,439 8.35%
    $100k-200k 195 $27,245,000 $139,718 $3,029 7.34%
    $200k-400k 179 $48,455,000 $270,698 $3,917 6.94%
    $400k-600k 28 $12,880,000 $460,000 $4,667 6.87%
    $600k-1MM 14 $9,970,000 $712,143 $6,041 6.94%

    2024 saw Arbor Financial Credit Union place emphasis on $100,000 or less loans with 285 originations, totaling $15,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 173 $26,765,000 $154,711 $2,873 7.79%
    $50k-75k 148 $17,850,000 $120,608 $2,909 7.44%
    $75k-100k 122 $16,250,000 $133,197 $3,195 7.74%
    $150k-250k 121 $28,325,000 $234,091 $3,507 7.53%
    $50k or less 72 $6,030,000 $83,750 $2,960 7.48%
    $250k+ 50 $15,660,000 $313,200 $4,051 7.62%

    Arbor Financial Credit Union lent most frequently to those with incomes in the $100k-150k range, with 173 originations. The second most popular income band? $50k-75k, with 148 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 152 $22,200,000 $146,053 $3,088 7.65%
    30-36% 132 $21,020,000 $159,242 $2,991 7.53%
    <20% 59 $9,265,000 $157,034 $3,118 7.53%
    36% 37 $8,185,000 $221,216 $3,062 7.60%
    42% 35 $5,155,000 $147,286 $2,396 7.73%
    41% 32 $5,380,000 $168,125 $3,319 7.57%
    49% 31 $5,395,000 $174,032 $3,921 8.05%
    39% 29 $4,395,000 $151,552 $2,863 7.38%
    38% 24 $3,520,000 $146,667 $2,242 7.61%
    44% 24 $5,080,000 $211,667 $4,063 7.42%
    37% 22 $4,300,000 $195,455 $3,598 7.23%
    40% 22 $3,200,000 $145,455 $2,496 7.45%
    43% 21 $3,625,000 $172,619 $3,520 6.85%
    47% 18 $3,510,000 $195,000 $3,853 7.83%
    45% 16 $3,220,000 $201,250 $4,791 7.52%
    50-60% 14 $870,000 $62,143 $1,403 8.63%
    48% 12 $1,490,000 $124,167 $3,973 8.10%
    46% 11 $2,455,000 $223,182 $2,746 8.40%
    >60% 2 $200,000 $100,000 $0 8.25%

    Arbor Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 152 originations. The next most common DTI ratio? 30-36%, with 132 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 606 $98,910,000 $163,218 $3,117 7.57%
    Not provided 54 $8,760,000 $162,222 $3,509 7.81%
    Black 17 $2,815,000 $165,588 $2,704 8.06%
    Asian 13 $1,915,000 $147,308 $2,878 7.94%
    Not applicable 6 $960,000 $160,000 $0 8.46%
    Filipino 1 $195,000 $195,000 $3,348 6.38%
    Asian Indian 1 $105,000 $105,000 $507 8.50%
    Korean 1 $65,000 $65,000 $732 7.75%
    American Indian 2 $50,000 $25,000 $930 7.88%

    Approval Rates

    Total approvals of all applications
    92.37%

    Arbor Financial Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.03%

    Arbor Financial Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 701 $113,775,000 $162,304

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    701 $113,775,000 $162,304

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 173 $16,705,000 $96,561 $1,556 8.18%
    40-60% 65 $12,215,000 $187,923 $3,086 7.47%
    60-80% 107 $27,715,000 $259,019 $4,153 7.02%
    80-100% 186 $48,460,000 $260,538 $3,961 6.76%
    Under 20% 170 $8,680,000 $51,059 $1,176 8.43%