Arkansas Federal Credit Union Mortgage Rates, Fees & Info

Jacksonville, AR

LEI: 549300HIKKZQ0TVJWA08

Tax ID: 71-0292056

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

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  • 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

    Arkansas Federal Credit Union is a smaller credit union specializing in Home Purchase 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, Fort Smith, and Searcy among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Arkansas Federal 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. 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 11/17/24
    30 Year Conventional Purchase 6.85% 11/17/24
    30 Year Conventional Refi 6.56% 11/17/24
    30 Year Cash-out Refi 6.83% 11/17/24
    30 Year VA Purchase 6.32% 11/17/24
    30 Year VA Refi 6.13% 11/17/24
    30 Year USDA Purchase 7.45% 11/17/24
    15 Year Conventional Purchase 6.16% 11/17/24
    15 Year Conventional Refi 6.02% 11/17/24
    15 Year Cash-out Refi 6.02% 11/17/24
    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

    509

    Origination Dollar Volume (All Markets)

    $82,545,000
    Show all (10) 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
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 363 $58,685,000 $161,667 $3,627 4.59%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 43 $8,585,000 $199,651 $3,761 4.47%
    HOT SPRINGS, AR (FHA|USDA|VA) 28 $3,870,000 $138,214 $3,220 4.35%
    FORT SMITH, AR-OK (FHA|USDA|VA) 21 $3,245,000 $154,524 $3,893 4.21%
    Outside of Metro Areas 23 $3,205,000 $139,348 $3,194 4.52%
    Searcy, AR (FHA|USDA|VA) 18 $2,930,000 $162,778 $3,420 4.49%
    El Dorado, AR (FHA|USDA|VA) 3 $855,000 $285,000 $4,373 4.25%
    PINE BLUFF, AR (FHA|USDA|VA) 5 $605,000 $121,000 $3,555 4.43%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $175,000 $175,000 $4,418 4.63%
    Malvern, AR (FHA|USDA|VA) 1 $135,000 $135,000 $2,861 4.50%
    JONESBORO, AR (FHA|USDA|VA) 1 $125,000 $125,000 $3,347 5.38%
    TEXARKANA, TX-AR (FHA|USDA|VA) 1 $65,000 $65,000 $2,728 4.50%
    Hope, AR (FHA|USDA|VA) 1 $65,000 $65,000 $2,606 5.00%
    Arkansas Federal Credit Union's top markets include Little Rock, Fayetteville, Hot Springs, Fort Smith, and Searcy among others.

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

    Citizens' Bank & Trust Co.
    Similarity Rank: 108
    ONE BANK & TRUST, NATIONAL ASS
    Similarity Rank: 189
    TELCOE FEDERAL CREDIT UNION
    Similarity Rank: 448
    Truity Federal Credit Union
    Similarity Rank: 533
    First Arkansas Bank and Trust
    Similarity Rank: 781
    The First National Bank of Fort Smith
    Similarity Rank: 891
    Generations Bank
    Similarity Rank: 896
    Firstar Bank
    Similarity Rank: 952
    FIRST WESTERN MORTGAGE, INC.
    Similarity Rank: 996
    Farmers Bank & Trust Company
    Similarity Rank: 1053

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 446 $70,430,000 $157,915 $3,552 4.59%
    VA 53 $10,885,000 $205,377 $3,831 4.23%
    USDA 10 $1,230,000 $123,000 $4,268 4.46%

    For 2018, Arkansas Federal Credit Union's most frequently originated type of loan was Conventional, with 446 originations. Their 2nd most popular type was VA, with 53 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 341 $56,315,000 $165,147 $3,650 4.40%
    Refi 64 $9,980,000 $155,938 $3,657 4.47%
    Cash Out Refi 50 $8,670,000 $173,400 $3,233 4.54%
    NA 43 $5,985,000 $139,186 $3,072 5.92%
    Home Improvement 10 $1,450,000 $145,000 $3,343 4.21%
    Other 1 $145,000 $145,000 $3,449 4.38%

    For 2018, Arkansas Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 341 originations. The 2nd most popular reason was Refi, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 363 $60,935,000 $167,865 $3,702 4.44%
    15 Year 69 $8,315,000 $120,507 $3,151 4.06%
    Other 29 $2,665,000 $91,897 $0 5.99%
    20 Year 19 $2,605,000 $137,105 $3,396 4.43%
    3 Year 13 $3,465,000 $266,538 $0 5.96%
    5 Year 7 $3,435,000 $490,714 $0 5.43%
    1 Year 6 $730,000 $121,667 $0 5.79%
    10 Year 3 $395,000 $131,667 $3,142 4.92%

    For 2018, Arkansas Federal Credit Union's most frequently cited loan duration was 30 Year, with 363 originations. The 2nd most popular length was 15 Year, with 69 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 187 $19,265,000 $103,021
    $2k-3k 153 $26,505,000 $173,235
    $<1k 64 $11,870,000 $185,469
    $3k-4k 38 $10,550,000 $277,632
    $4k-5k 6 $2,280,000 $380,000
    $5k+ 3 $1,305,000 $435,000

    Arkansas Federal Credit Union's average total fees were $3,702, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 187 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 335 $56,985,000 $170,104
    3-4% 96 $14,860,000 $154,792
    5-6% 61 $9,195,000 $150,738
    6-7% 17 $1,505,000 $88,529

    During 2018, Arkansas Federal Credit Union's average interest rate for loans was 4.44%, while their most frequently originated rate bucket for loans was 4-5%, with 335 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 263 $38,875,000 $147,814 $3,524 4.41%
    $100,000 or less 138 $9,770,000 $70,797 $2,629 4.91%
    $200k-400k 99 $26,375,000 $266,414 $4,727 4.37%
    $400k-600k 6 $2,760,000 $460,000 $6,721 4.75%
    $1MM+ 2 $3,960,000 $1,980,000 $0 5.00%
    $600k-1MM 1 $805,000 $805,000 $0 5.50%

    2018 saw Arkansas Federal Credit Union place emphasis on $100k-200k loans with 263 originations, totaling $38,875,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 122 $16,560,000 $135,738 $3,411 4.34%
    $50k or less 110 $12,100,000 $110,000 $3,127 4.45%
    $75k-100k 102 $17,710,000 $173,627 $3,606 4.36%
    $100k-150k 82 $16,720,000 $203,902 $4,180 4.40%
    $150k-250k 35 $8,545,000 $244,143 $4,464 4.44%
    $250k+ 5 $835,000 $167,000 $3,150 4.33%

    Arkansas Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 122 originations. The second most popular income band? $50k or less, with 110 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 120 $19,410,000 $161,750 $3,587 4.35%
    30-36% 90 $14,110,000 $156,778 $3,635 4.45%
    <20% 54 $6,700,000 $124,074 $3,104 4.35%
    39% 19 $2,795,000 $147,105 $3,696 4.74%
    38% 19 $3,375,000 $177,632 $3,538 4.34%
    36% 18 $3,000,000 $166,667 $3,749 4.33%
    40% 16 $2,980,000 $186,250 $3,593 4.45%
    37% 15 $2,565,000 $171,000 $3,436 4.51%
    45% 13 $1,665,000 $128,077 $3,169 4.38%
    47% 13 $2,395,000 $184,231 $4,382 4.22%
    43% 13 $2,535,000 $195,000 $3,872 4.42%
    44% 12 $2,300,000 $191,667 $4,401 4.23%
    42% 11 $1,695,000 $154,091 $3,303 4.56%
    41% 11 $1,795,000 $163,182 $3,577 4.25%
    50-60% 10 $1,360,000 $136,000 $4,131 4.41%
    48% 8 $1,420,000 $177,500 $4,074 4.22%
    46% 7 $1,015,000 $145,000 $2,848 4.36%
    49% 6 $1,130,000 $188,333 $4,403 4.27%
    >60% 1 $225,000 $225,000 $4,574 3.75%

    Arkansas Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 120 originations. The next most common DTI ratio? 30-36%, with 90 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 368 $57,580,000 $156,467 $3,553 4.38%
    Not applicable 53 $10,125,000 $191,038 $0 5.91%
    Black 40 $6,640,000 $166,000 $3,517 4.47%
    Not provided 31 $5,315,000 $171,452 $3,916 4.52%
    Asian 14 $2,450,000 $175,000 $4,460 4.17%
    American Indian 3 $435,000 $145,000 $3,531 4.21%

    Approval Rates

    Total approvals of all applications
    91.10%

    Arkansas Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    61.30%

    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
    NA 509 $82,545,000 $162,171

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $2,300,000 $1,150,000
    Multifamily:Site-Built 4 $3,770,000 $942,500
    Single Family (1-4 Units):Site-Built 503 $76,475,000 $152,038

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $3,375,000 $198,529 $2,630 4.52%
    40-60% 47 $4,825,000 $102,660 $3,109 4.52%
    60-80% 153 $23,775,000 $155,392 $3,529 4.73%
    80-100% 278 $47,590,000 $171,187 $3,585 4.47%
    Over 100% 14 $2,980,000 $212,857 $6,764 4.26%