Arkansas Federal Credit Union Mortgage Rates, Fees & Info

Jacksonville, AR

LEI: 549300HIKKZQ0TVJWA08

Tax ID: 71-0292056

5 stars - out of 5 stars, based on 51 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Arkansas Federal Credit Union is a smaller credit union specializing in Refi, Home Purchase, and Cash Out Refi loans. Arkansas 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: Little Rock, Fayetteville, Hot Springs, Searcy, and Fort Smith among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Arkansas 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. Arkansas Federal Credit Union is typically an average 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) 7.67% 10/3/22
    30 Year Conventional Purchase 6.56% 10/3/22
    30 Year Conventional Refi 6.35% 10/3/22
    30 Year Cash-out Refi 6.51% 10/3/22
    30 Year VA Purchase 6.23% 10/3/22
    30 Year VA Refi 6.26% 10/3/22
    30 Year USDA Purchase 7.09% 10/3/22
    15 Year Conventional Purchase 6.47% 10/3/22
    15 Year Conventional Refi 6.27% 10/3/22
    15 Year Cash-out Refi 6.27% 10/3/22
    15 Year VA Refi 6.32% 10/3/22
    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.


    Originations

    2,619

    Origination Dollar Volume (All Markets)

    $366,515,000
    Show all (8) awards

    Relative Rate

    Arkansas Federal Credit Union's average 30 year fixed mortgage rate was 2.86%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.29%.

    Relative Fees (Closing Costs)

    Arkansas Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,793.

    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 $4,750.

    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
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1,793 $254,365,000 $141,866 $3,698 3.56%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 272 $40,890,000 $150,331 $2,881 3.53%
    HOT SPRINGS, AR (FHA|USDA|VA) 126 $19,390,000 $153,889 $3,597 3.46%
    Outside of Metro Areas 112 $12,820,000 $114,464 $3,535 3.58%
    Searcy, AR (FHA|USDA|VA) 99 $12,425,000 $125,505 $3,596 3.69%
    FORT SMITH, AR-OK (FHA|USDA|VA) 90 $9,920,000 $110,222 $3,765 3.28%
    JONESBORO, AR (FHA|USDA|VA) 36 $4,210,000 $116,944 $3,802 3.83%
    PINE BLUFF, AR (FHA|USDA|VA) 26 $3,030,000 $116,538 $3,961 3.84%
    BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $2,505,000 $2,505,000 $0 3.75%
    Malvern, AR (FHA|USDA|VA) 17 $1,845,000 $108,529 $3,914 3.24%
    Russellville, AR (FHA|USDA|VA) 17 $1,835,000 $107,941 $2,641 3.52%
    Batesville, AR (FHA|USDA|VA) 6 $570,000 $95,000 $3,552 4.10%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $545,000 $545,000 $3,703 3.13%
    Mountain Home, AR (FHA|USDA|VA) 5 $395,000 $79,000 $2,676 3.40%
    Paragould, AR (FHA|USDA|VA) 4 $360,000 $90,000 $3,552 3.47%
    TULSA, OK (FHA|USDA|VA) 1 $355,000 $355,000 $3,556 2.88%
    Arkadelphia, AR (FHA|USDA|VA) 2 $330,000 $165,000 $5,986 3.81%
    Blytheville, AR (FHA|USDA|VA) 3 $165,000 $55,000 $2,430 3.21%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $145,000 $145,000 $4,018 2.75%
    Harrison, AR (FHA|USDA|VA) 1 $115,000 $115,000 $1,839 2.50%
    Forrest City, AR (FHA|USDA|VA) 2 $100,000 $50,000 $2,428 3.19%
    Magnolia, AR (FHA|USDA|VA) 1 $95,000 $95,000 $0 5.50%
    El Dorado, AR (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.00%
    Helena-West Helena, AR (FHA|USDA|VA) 2 $50,000 $25,000 $0 5.00%

    Arkansas Federal Credit Union's top markets include Little Rock, Fayetteville, Hot Springs, Searcy, and Fort Smith among others.

    Similar Lenders

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

    Farmers Bank & Trust Company
    Similarity Rank: 304
    FIRST WESTERN MORTGAGE, INC.
    Similarity Rank: 561
    Truity Federal Credit Union
    Similarity Rank: 728
    The Farmers & Merchants Bank
    Similarity Rank: 784
    TELCOE FEDERAL CREDIT UNION
    Similarity Rank: 1392
    Generations Bank
    Similarity Rank: 1947
    First National Bank
    Similarity Rank: 2646
    Equity Bank
    Similarity Rank: 2773

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,402 $344,470,000 $143,410 $3,529 3.52%
    HELOC 140 $6,280,000 $44,857 n/a 4.59%
    VA 66 $13,920,000 $210,909 $4,521 2.80%
    USDA 11 $1,845,000 $167,727 $5,385 3.20%

    For 2021, Arkansas Federal Credit Union's most frequently originated type of loan was Conventional, with 2,402 originations. Their 2nd most popular type was HELOC, with 140 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 731 $114,485,000 $156,614 $3,305 2.85%
    Home Purchase 653 $127,105,000 $194,648 $4,018 3.26%
    Other 481 $23,745,000 $49,366 $4,721 4.78%
    Cash Out Refi 409 $81,815,000 $200,037 $3,522 3.00%
    Home Improvement 345 $19,365,000 $56,130 $3,269 4.55%

    For 2021, Arkansas Federal Credit Union's most frequently cited loan purpose was Refi, with 731 originations. The 2nd most popular reason was Home Purchase, with 653 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 874 $168,230,000 $192,483 $3,793 2.86%
    20 Year 740 $67,390,000 $91,068 $3,294 3.96%
    15 Year 392 $51,260,000 $130,765 $3,235 2.91%
    10 Year 292 $14,510,000 $49,692 $2,794 4.79%
    5 Year 174 $38,720,000 $222,529 $0 4.04%
    3 Year 110 $15,410,000 $140,091 $2,623 4.36%
    Other 24 $7,800,000 $325,000 $5,885 4.50%
    30+ year 8 $2,440,000 $305,000 $7,213 2.92%
    1 Year 5 $755,000 $151,000 $0 5.10%

    For 2021, Arkansas Federal Credit Union's most frequently cited loan duration was 30 Year, with 874 originations. The 2nd most popular length was 20 Year, with 740 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,183 $113,685,000 $96,099
    $1k-2k 499 $57,145,000 $114,519
    $2k-3k 390 $69,410,000 $177,974
    $3k-4k 133 $36,205,000 $272,218
    $4k-5k 38 $13,420,000 $353,158
    $5k+ 21 $10,175,000 $484,524

    Arkansas Federal Credit Union's average total fees were $3,793, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,183 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 702 $133,200,000 $189,744
    3-4% 549 $86,045,000 $156,730
    <2.5% 543 $84,065,000 $154,816
    4-5% 519 $48,425,000 $93,304
    5-6% 250 $11,860,000 $47,440
    6-7% 55 $2,825,000 $51,364
    7-8% 1 $95,000 $95,000

    During 2021, Arkansas Federal Credit Union's average interest rate for loans was 2.86%, while their most frequently originated rate bucket for loans was 2.5-3%, with 702 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,186 $61,110,000 $51,526 $2,637 4.23%
    $100k-200k 918 $131,230,000 $142,952 $3,330 3.03%
    $200k-400k 443 $116,975,000 $264,052 $4,374 2.89%
    $400k-600k 49 $23,665,000 $482,959 $6,554 3.03%
    $600k-1MM 14 $10,530,000 $752,143 $6,480 3.94%
    $1MM+ 9 $23,005,000 $2,556,111 $0 4.05%

    2021 saw Arkansas Federal Credit Union place emphasis on $100,000 or less loans with 1,186 originations, totaling $61,110,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 564 $62,540,000 $110,887 $3,275 3.30%
    $100k-150k 561 $85,775,000 $152,897 $3,957 3.55%
    $75k-100k 492 $60,280,000 $122,520 $3,652 3.54%
    $50k or less 400 $35,010,000 $87,525 $2,999 3.35%
    $150k-250k 318 $46,970,000 $147,704 $4,182 3.82%
    $250k+ 104 $20,640,000 $198,462 $4,571 3.79%

    Arkansas Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 564 originations. The second most popular income band? $100k-150k, with 561 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 728 $94,930,000 $130,398 $3,493 3.33%
    30-36% 438 $55,570,000 $126,872 $3,690 3.56%
    <20% 424 $52,400,000 $123,585 $3,342 3.26%
    41% 79 $11,185,000 $141,582 $4,197 3.70%
    37% 78 $9,540,000 $122,308 $3,883 3.83%
    36% 77 $8,785,000 $114,091 $3,948 3.93%
    40% 69 $9,335,000 $135,290 $3,489 3.63%
    38% 66 $10,060,000 $152,424 $3,822 3.18%
    39% 60 $6,440,000 $107,333 $3,691 3.83%
    43% 59 $8,275,000 $140,254 $4,164 3.62%
    42% 52 $7,750,000 $149,038 $3,287 3.40%
    46% 44 $4,300,000 $97,727 $3,796 3.93%
    45% 43 $4,955,000 $115,233 $3,249 3.95%
    50-60% 42 $4,060,000 $96,667 $4,106 4.35%
    47% 39 $5,695,000 $146,026 $4,049 3.68%
    44% 34 $3,630,000 $106,765 $3,231 3.72%
    49% 33 $3,955,000 $119,848 $3,427 3.66%
    48% 31 $4,305,000 $138,871 $4,266 3.71%
    >60% 4 $490,000 $122,500 $1,893 3.66%

    Arkansas Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 728 originations. The next most common DTI ratio? 30-36%, with 438 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,938 $249,580,000 $128,782 $3,608 3.49%
    Not applicable 175 $50,985,000 $291,343 $0 4.26%
    Not provided 195 $30,415,000 $155,974 $3,444 3.37%
    Black 237 $24,265,000 $102,384 $3,462 3.82%
    Asian 47 $7,835,000 $166,702 $3,982 3.37%
    American Indian 18 $2,300,000 $127,778 $3,481 3.33%
    Native Hawaiian or Islander 6 $660,000 $110,000 $2,420 2.98%
    Other Pacific Islander 2 $300,000 $150,000 $3,695 2.63%
    Asian Indian 1 $175,000 $175,000 $5,588 3.00%

    Approval Rates

    Total approvals of all applications
    84.55%

    Arkansas Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.32%

    Arkansas Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,619 $366,515,000 $139,945

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,619 $366,515,000 $139,945

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 343 $25,115,000 $73,222 $2,829 4.30%
    40-60% 327 $39,275,000 $120,107 $3,036 3.03%
    60-80% 767 $142,115,000 $185,287 $3,539 2.98%
    80-100% 648 $138,220,000 $213,302 $3,877 3.17%
    Over 100% 13 $3,275,000 $251,923 $8,472 2.77%
    Under 20% 521 $18,515,000 $35,537 $2,094 4.74%