Arkansas Federal Credit Union Mortgage Rates, Fees & Info

Jacksonville, AR

LEI: 549300HIKKZQ0TVJWA08

Tax ID: 71-0292056

5 stars - Updated: 3/3/24 - out of 5 stars, based on 50 reviews

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

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Mortgage Data

Review & Overview

Arkansas Federal Credit Union is a smaller credit union specializing in Home Purchase and 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, Arkadelphia, and Searcy among others. We have data for 27 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 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
Home Equity Line of Credit (HELOC) 6.27% 3/3/24
30 Year Conventional Purchase 6.85% 3/3/24
30 Year Conventional Refi 6.56% 3/3/24
30 Year Cash-out Refi 6.83% 3/3/24
30 Year VA Purchase 6.32% 3/3/24
30 Year VA Refi 6.13% 3/3/24
30 Year USDA Purchase 7.45% 3/3/24
15 Year Conventional Purchase 6.16% 3/3/24
15 Year Conventional Refi 6.02% 3/3/24
15 Year Cash-out Refi 6.02% 3/3/24
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.

Arkansas 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 Arkansas 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

2,517

Origination Dollar Volume (All Markets)

$300,735,000
Show all (8) awards

Relative Rate

Arkansas Federal Credit Union's average 30 year fixed mortgage rate was 4.3%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.46%.

Relative Fees (Closing Costs)

Arkansas Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,652.

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) 1,636 $195,290,000 $119,370 $1,879 5.23%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 288 $35,210,000 $122,257 $1,527 5.37%
HOT SPRINGS, AR (FHA|USDA|VA) 116 $14,800,000 $127,586 $1,996 5.19%
Outside of Metro Areas 124 $13,870,000 $111,855 $1,945 4.85%
Arkadelphia, AR (FHA|USDA|VA) 4 $11,220,000 $2,805,000 $0 4.31%
Searcy, AR (FHA|USDA|VA) 96 $10,960,000 $114,167 $1,916 5.13%
FORT SMITH, AR-OK (FHA|USDA|VA) 128 $9,720,000 $75,938 $1,332 5.20%
JONESBORO, AR (FHA|USDA|VA) 30 $1,700,000 $56,667 $728 5.95%
PINE BLUFF, AR (FHA|USDA|VA) 21 $1,305,000 $62,143 $1,169 5.44%
Batesville, AR (FHA|USDA|VA) 12 $1,230,000 $102,500 $2,346 4.81%
Russellville, AR (FHA|USDA|VA) 14 $1,220,000 $87,143 $1,004 5.49%
Malvern, AR (FHA|USDA|VA) 12 $680,000 $56,667 $530 6.43%
Harrison, AR (FHA|USDA|VA) 6 $620,000 $103,333 $1,090 5.56%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $485,000 $485,000 $0 4.50%
OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $400,000 $200,000 $0 6.88%
Mountain Home, AR (FHA|USDA|VA) 4 $380,000 $95,000 $1,303 5.63%
Paragould, AR (FHA|USDA|VA) 4 $300,000 $75,000 $1,985 5.66%
El Dorado, AR (FHA|USDA|VA) 4 $280,000 $70,000 $0 5.81%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 5 $235,000 $47,000 $0 5.35%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $235,000 $235,000 $0 6.50%
TULSA, OK (FHA|USDA|VA) 1 $155,000 $155,000 $5,722 5.50%
Stillwater, OK (FHA|USDA|VA) 1 $125,000 $125,000 $4,072 4.38%
Blytheville, AR (FHA|USDA|VA) 2 $120,000 $60,000 $0 4.00%
Helena-West Helena, AR (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.75%
Hope, AR (FHA|USDA|VA) 2 $50,000 $25,000 $0 5.50%
Magnolia, AR (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.75%
Camden, AR (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.50%
Arkansas Federal Credit Union's top markets include Little Rock, Fayetteville, Hot Springs, Arkadelphia, and Searcy among others.

Their top states include:
  • Arkansas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • 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.

    FIRST WESTERN MORTGAGE, INC.
    Similarity Rank: 255
    Farmers Bank & Trust Company
    Similarity Rank: 280
    Truity Federal Credit Union
    Similarity Rank: 408
    The Farmers & Merchants Bank
    Similarity Rank: 896
    TELCOE FEDERAL CREDIT UNION
    Similarity Rank: 928
    Generations Bank
    Similarity Rank: 1180
    Priority Bank
    Similarity Rank: 1860
    First National Bank
    Similarity Rank: 2450

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,921 $250,525,000 $130,414 $1,663 5.29%
    HELOC 550 $38,200,000 $69,455 n/a 5.17%
    VA 40 $10,980,000 $274,500 $5,613 3.93%
    USDA 6 $1,030,000 $171,667 $5,959 4.60%

    For 2022, Arkansas Federal Credit Union's most frequently originated type of loan was Conventional, with 1,921 originations. Their 2nd most popular type was HELOC, with 550 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 899 $49,685,000 $55,267 $39 5.88%
    Home Purchase 596 $123,070,000 $206,493 $4,557 4.74%
    Home Improvement 499 $31,205,000 $62,535 $32 5.43%
    Refi 311 $63,105,000 $202,910 $2,455 4.74%
    Cash Out Refi 212 $33,670,000 $158,821 $3,867 4.19%

    For 2022, Arkansas Federal Credit Union's most frequently cited loan purpose was Other, with 899 originations. The 2nd most popular reason was Home Purchase, with 596 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 1,043 $74,105,000 $71,050 $227 5.70%
    30 Year 493 $108,575,000 $220,233 $4,652 4.30%
    10 Year 402 $21,080,000 $52,438 $50 5.69%
    5 Year 309 $51,365,000 $166,230 $0 5.05%
    15 Year 115 $14,295,000 $124,304 $2,956 3.70%
    3 Year 87 $12,825,000 $147,414 $2,255 5.61%
    Other 37 $7,335,000 $198,243 $0 5.91%
    30+ year 31 $11,155,000 $359,839 $7,664 4.65%

    For 2022, Arkansas Federal Credit Union's most frequently cited loan duration was 20 Year, with 1,043 originations. The 2nd most popular length was 30 Year, with 493 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,116 $73,140,000 $65,538
    $2k-3k 199 $36,625,000 $184,045
    $1k-2k 188 $22,420,000 $119,255
    $3k-4k 105 $27,455,000 $261,476
    $5k+ 52 $22,390,000 $430,577
    $4k-5k 35 $12,155,000 $347,286

    Arkansas Federal Credit Union's average total fees were $4,652, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,116 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 654 $90,900,000 $138,991
    5-6% 589 $58,205,000 $98,820
    3-4% 478 $82,190,000 $171,946
    6-7% 351 $24,755,000 $70,527
    7-8% 235 $16,795,000 $71,468
    2.5-3% 93 $17,245,000 $185,430
    Over 8% 79 $4,275,000 $54,114
    <2.5% 38 $6,370,000 $167,632

    During 2022, Arkansas Federal Credit Union's average interest rate for loans was 4.30%, while their most frequently originated rate bucket for loans was 4-5%, with 654 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,566 $74,790,000 $47,759 $292 5.59%
    $100k-200k 553 $78,005,000 $141,058 $2,919 4.82%
    $200k-400k 332 $89,470,000 $269,488 $5,173 4.47%
    $400k-600k 47 $22,465,000 $477,979 $6,903 4.08%
    $600k-1MM 11 $8,225,000 $747,727 $10,709 4.65%
    $1MM+ 8 $27,780,000 $3,472,500 $18,233 4.40%

    2022 saw Arkansas Federal Credit Union place emphasis on $100,000 or less loans with 1,566 originations, totaling $74,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 589 $66,235,000 $112,453 $1,825 5.33%
    $50k-75k 479 $39,685,000 $82,850 $1,627 5.26%
    $75k-100k 446 $40,900,000 $91,704 $1,601 5.33%
    $150k-250k 367 $49,975,000 $136,172 $2,165 5.30%
    $50k or less 281 $19,485,000 $69,342 $1,663 4.86%
    $250k+ 118 $20,590,000 $174,492 $2,266 5.14%

    Arkansas Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 589 originations. The second most popular income band? $50k-75k, with 479 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 605 $63,335,000 $104,686 $1,804 5.17%
    30-36% 411 $43,985,000 $107,019 $1,839 5.46%
    <20% 307 $30,925,000 $100,733 $1,564 4.63%
    41% 82 $7,940,000 $96,829 $1,889 5.52%
    38% 77 $7,555,000 $98,117 $1,600 5.52%
    36% 77 $9,615,000 $124,870 $2,516 5.16%
    37% 74 $9,530,000 $128,784 $2,291 5.31%
    39% 74 $6,780,000 $91,622 $1,604 5.38%
    40% 68 $5,650,000 $83,088 $1,209 5.39%
    42% 67 $6,725,000 $100,373 $1,763 5.52%
    44% 64 $7,150,000 $111,719 $1,936 5.19%
    43% 59 $7,545,000 $127,881 $2,374 5.37%
    45% 58 $6,220,000 $107,241 $1,748 5.40%
    50-60% 52 $4,220,000 $81,154 $457 5.53%
    46% 51 $4,815,000 $94,412 $1,678 5.44%
    49% 43 $3,885,000 $90,349 $1,325 5.31%
    47% 42 $3,120,000 $74,286 $1,233 5.76%
    48% 41 $3,855,000 $94,024 $2,715 5.18%
    >60% 1 $225,000 $225,000 $5,112 3.25%

    Arkansas Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 605 originations. The next most common DTI ratio? 30-36%, with 411 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,770 $185,130,000 $104,593 $1,788 5.22%
    Not applicable 232 $63,550,000 $273,922 $0 5.21%
    Not provided 215 $25,855,000 $120,256 $2,191 5.14%
    Black 244 $20,210,000 $82,828 $1,312 5.47%
    Asian 28 $3,880,000 $138,571 $2,976 5.20%
    American Indian 19 $1,595,000 $83,947 $1,170 5.21%
    Native Hawaiian or Islander 5 $275,000 $55,000 $0 7.10%
    Other Pacific Islander 2 $160,000 $80,000 $0 3.75%
    Other Asian 2 $80,000 $40,000 $0 7.63%

    Approval Rates

    Total approvals of all applications
    80.64%

    Arkansas Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    60.35%

    Arkansas Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 2 $90,000 $45,000
    NA 2,515 $300,645,000 $119,541

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,517 $300,735,000 $119,482

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 563 $41,125,000 $73,046 $206 5.76%
    40-60% 221 $31,825,000 $144,005 $2,080 4.64%
    60-80% 411 $90,055,000 $219,112 $4,152 4.47%
    80-100% 447 $101,825,000 $227,796 $4,545 4.62%
    Over 100% 6 $1,820,000 $303,333 $13,706 3.58%
    Under 20% 869 $34,085,000 $39,223 $25 5.75%