Arkansas Federal Credit Union Mortgage Rates, Fees & InfoJacksonville, AR
Tax ID: 71-0292056
Review & OverviewArkansas Federal Credit Union is a smaller credit union specializing in Refi and 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 23 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.
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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||7.96%||12/4/22|
|30 Year Conventional Purchase||6.85%||12/4/22|
|30 Year Conventional Refi||6.64%||12/4/22|
|30 Year Cash-out Refi||6.80%||12/4/22|
|30 Year VA Purchase||6.52%||12/4/22|
|30 Year VA Refi||6.55%||12/4/22|
|30 Year USDA Purchase||7.38%||12/4/22|
|15 Year Conventional Purchase||6.27%||12/4/22|
|15 Year Conventional Refi||6.07%||12/4/22|
|15 Year Cash-out Refi||6.07%||12/4/22|
|15 Year VA Refi||6.12%||12/4/22|
|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.|
Origination Dollar Volume (All Markets)$279,865,000
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)||1,365||$186,885,000||$136,912||$3,844||3.87%|
|FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA)||217||$36,165,000||$166,659||$2,902||3.67%|
|HOT SPRINGS, AR (FHA|USDA|VA)||81||$13,285,000||$164,012||$4,107||3.72%|
|Outside of Metro Areas||107||$10,885,000||$101,729||$3,320||4.00%|
|FORT SMITH, AR-OK (FHA|USDA|VA)||95||$10,075,000||$106,053||$3,561||3.86%|
|Searcy, AR (FHA|USDA|VA)||82||$9,590,000||$116,951||$3,285||3.99%|
|JONESBORO, AR (FHA|USDA|VA)||19||$2,825,000||$148,684||$3,240||3.45%|
|Russellville, AR (FHA|USDA|VA)||15||$1,875,000||$125,000||$3,481||3.33%|
|Malvern, AR (FHA|USDA|VA)||13||$1,425,000||$109,615||$3,980||3.90%|
|PINE BLUFF, AR (FHA|USDA|VA)||17||$1,285,000||$75,588||$2,695||3.81%|
|Batesville, AR (FHA|USDA|VA)||12||$1,090,000||$90,833||$3,781||4.21%|
|El Dorado, AR (FHA|USDA|VA)||4||$760,000||$190,000||$4,174||2.47%|
|Mountain Home, AR (FHA|USDA|VA)||4||$560,000||$140,000||$3,701||3.34%|
|MEMPHIS, TN-MS-AR (FHA|USDA|VA)||4||$550,000||$137,500||$3,651||2.47%|
|TEXARKANA, TX-AR (FHA|USDA|VA)||3||$545,000||$181,667||$4,536||2.67%|
|Arkadelphia, AR (FHA|USDA|VA)||5||$415,000||$83,000||$3,684||4.53%|
|Camden, AR (FHA|USDA|VA)||4||$390,000||$97,500||$2,818||3.88%|
|Paragould, AR (FHA|USDA|VA)||3||$385,000||$128,333||$5,718||4.63%|
|TULSA, OK (FHA|USDA|VA)||3||$285,000||$95,000||$3,129||3.00%|
|Forrest City, AR (FHA|USDA|VA)||2||$240,000||$120,000||$4,416||4.69%|
|Harrison, AR (FHA|USDA|VA)||2||$210,000||$105,000||$2,734||2.81%|
|Blytheville, AR (FHA|USDA|VA)||1||$125,000||$125,000||$2,267||3.13%|
|Hope, AR (FHA|USDA|VA)||1||$15,000||$15,000||$0||6.75%|
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.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2020, Arkansas Federal Credit Union's most frequently originated type of loan was Conventional, with 1,283 originations. Their 2nd most popular type was HELOC, with 716 originations.
For 2020, Arkansas Federal Credit Union's most frequently cited loan purpose was Refi, with 615 originations. The 2nd most popular reason was Home Purchase, with 515 originations.
For 2020, Arkansas Federal Credit Union's most frequently cited loan duration was 30 Year, with 813 originations. The 2nd most popular length was 10 Year, with 476 originations.
Origination Fees/Closing Costs
Arkansas Federal Credit Union's average total fees were $3,769, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 421 originations.
During 2020, Arkansas Federal Credit Union's average interest rate for loans was 2.91%, while their most frequently originated rate bucket for loans was 2.5-3%, with 567 originations.
2020 saw Arkansas Federal Credit Union place emphasis on $100,000 or less loans with 921 originations, totaling $44,875,000 in origination value.
Arkansas Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 489 originations. The second most popular income band? $50k-75k, with 440 originations.
Applicant Debt to Income Ratio
Arkansas Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 584 originations. The next most common DTI ratio? <20%, with 409 originations.
Approval RatesTotal approvals of all applications
Arkansas Federal Credit Union has an average approval rate.
Pick RateApprovals leading to origination
Arkansas Federal Credit Union has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
Occupancy Type Mix
|Dwelling Type||Originations||Total Value||Average Loan|
|Single Family (1-4 Units):Site-Built||2,045||$267,635,000||$130,873|