Arkansas Federal Credit Union Mortgage Rates, Fees & Info

Jacksonville, AR

LEI: 549300HIKKZQ0TVJWA08

Tax ID: 71-0292056

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 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.

    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) 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.


    Originations

    2,059

    Origination Dollar Volume (All Markets)

    $279,865,000
    Show all (8) 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) 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%
    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.

    First Arkansas Bank and Trust
    Similarity Rank: 528
    Southern Bank
    Similarity Rank: 636
    FIRST WESTERN MORTGAGE, INC.
    Similarity Rank: 837
    TELCOE FEDERAL CREDIT UNION
    Similarity Rank: 1166
    Farmers Bank & Trust Company
    Similarity Rank: 1395
    Truity Federal Credit Union
    Similarity Rank: 1615
    First National Bank
    Similarity Rank: 1760
    STANDARD MORTGAGE CORPORATION
    Similarity Rank: 2211
    Firstar Bank
    Similarity Rank: 3392

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,283 $232,985,000 $181,594 $3,640 2.98%
    HELOC 716 $33,710,000 $47,081 n/a 5.45%
    VA 54 $12,270,000 $227,222 $3,747 2.98%
    USDA 6 $900,000 $150,000 $5,446 3.75%

    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.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 615 $112,915,000 $183,602 $3,487 2.91%
    Home Purchase 515 $89,855,000 $174,476 $3,806 3.15%
    Other 386 $16,530,000 $42,824 $1,894 5.65%
    Home Improvement 281 $14,475,000 $51,512 $2,612 5.21%
    Cash Out Refi 262 $46,090,000 $175,916 $3,823 3.25%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 813 $160,115,000 $196,943 $3,769 2.91%
    10 Year 476 $22,520,000 $47,311 $3,452 5.34%
    15 Year 398 $42,160,000 $105,930 $3,508 4.09%
    20 Year 245 $30,745,000 $125,490 $3,327 3.26%
    3 Year 94 $14,090,000 $149,894 $2,720 4.64%
    5 Year 21 $8,205,000 $390,714 $0 4.15%
    Other 9 $1,185,000 $131,667 $2,635 4.36%
    1 Year 2 $360,000 $180,000 $0 4.88%
    30+ year 1 $485,000 $485,000 $0 3.13%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 421 $47,825,000 $113,599
    $2k-3k 348 $62,580,000 $179,828
    $<1k 268 $55,080,000 $205,522
    $3k-4k 128 $34,490,000 $269,453
    $4k-5k 42 $15,280,000 $363,810
    $5k+ 17 $7,945,000 $467,353

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 567 $106,725,000 $188,228
    <2.5% 390 $66,260,000 $169,897
    3-4% 326 $62,160,000 $190,675
    4-5% 324 $23,750,000 $73,302
    5-6% 249 $13,535,000 $54,357
    6-7% 183 $6,775,000 $37,022
    7-8% 20 $660,000 $33,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 921 $44,875,000 $48,724 $2,737 4.85%
    $100k-200k 701 $102,415,000 $146,098 $3,358 3.10%
    $200k-400k 388 $102,630,000 $264,510 $4,356 2.88%
    $400k-600k 39 $17,495,000 $448,590 $6,042 2.93%
    $1MM+ 5 $9,245,000 $1,849,000 $0 4.05%
    $600k-1MM 5 $3,205,000 $641,000 $8,307 3.55%

    2020 saw Arkansas Federal Credit Union place emphasis on $100,000 or less loans with 921 originations, totaling $44,875,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 489 $70,305,000 $143,773 $3,902 3.86%
    $50k-75k 440 $50,750,000 $115,341 $3,403 3.72%
    $75k-100k 367 $47,335,000 $128,978 $3,525 3.76%
    $50k or less 311 $28,065,000 $90,241 $3,001 3.74%
    $150k-250k 272 $47,950,000 $176,287 $4,367 3.85%
    $250k+ 74 $13,530,000 $182,838 $5,253 4.07%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 584 $76,700,000 $131,336 $3,519 3.70%
    <20% 409 $47,735,000 $116,711 $3,420 3.71%
    30-36% 356 $49,340,000 $138,596 $3,911 3.86%
    37% 59 $9,665,000 $163,814 $3,975 3.71%
    38% 52 $6,710,000 $129,038 $3,339 3.65%
    39% 51 $6,385,000 $125,196 $3,478 3.95%
    40% 48 $7,310,000 $152,292 $3,756 3.70%
    36% 47 $6,505,000 $138,404 $3,583 3.89%
    41% 44 $6,960,000 $158,182 $4,187 3.66%
    43% 41 $6,155,000 $150,122 $4,075 4.07%
    50-60% 40 $3,300,000 $82,500 $4,668 4.81%
    42% 39 $5,545,000 $142,179 $3,639 3.64%
    44% 39 $6,685,000 $171,410 $3,786 3.66%
    46% 37 $5,085,000 $137,432 $3,370 4.06%
    45% 29 $4,115,000 $141,897 $4,004 3.88%
    47% 26 $3,400,000 $130,769 $3,993 4.17%
    49% 21 $2,065,000 $98,333 $3,312 4.55%
    48% 19 $2,945,000 $155,000 $4,288 3.72%
    >60% 1 $205,000 $205,000 $0 4.75%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,588 $213,650,000 $134,540 $3,665 3.78%
    Not applicable 103 $21,835,000 $211,990 $0 4.63%
    Black 189 $20,055,000 $106,111 $3,663 4.27%
    Not provided 115 $16,255,000 $141,348 $3,684 3.46%
    Asian 42 $5,000,000 $119,048 $3,218 3.64%
    American Indian 14 $2,030,000 $145,000 $3,467 3.00%
    Asian Indian 2 $440,000 $220,000 $3,717 2.75%
    Other Asian 2 $240,000 $120,000 $2,060 5.06%
    Native Hawaiian or Islander 2 $200,000 $100,000 $4,369 4.69%
    Korean 1 $125,000 $125,000 $2,827 2.38%
    Other Pacific Islander 1 $35,000 $35,000 $0 6.75%

    Approval Rates

    Total approvals of all applications
    85.56%

    Arkansas Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.77%

    Arkansas Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,059 $279,865,000 $135,923

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 14 $12,230,000 $873,571
    Single Family (1-4 Units):Site-Built 2,045 $267,635,000 $130,873

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 270 $16,600,000 $61,481 $3,089 4.92%
    40-60% 245 $29,005,000 $118,388 $3,313 3.53%
    60-80% 577 $107,165,000 $185,728 $3,643 3.16%
    80-100% 592 $113,410,000 $191,571 $3,703 3.05%
    Over 100% 10 $2,420,000 $242,000 $9,288 2.98%
    Under 20% 365 $11,265,000 $30,863 $2,921 5.64%