Arsenal Credit Union Mortgage Rates, Fees & Info
Arnold, MOLEI: 549300OSS620JYU5KR81
Tax ID: 43-0663009
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Mortgage Data
Review & Overview
Arsenal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Arsenal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top two markets are St. Louis and Farmington .Arsenal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Arsenal 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.72% | 4/5/25 |
| 30 Year Conventional Refi | 6.72% | 4/5/25 |
| 30 Year Cash-out Refi | 5.09% | 4/5/25 |
| 30 Year USDA Purchase | 6.72% | 4/5/25 |
| 15 Year Conventional Purchase | 6.00% | 4/5/25 |
| 15 Year Conventional Refi | 7.61% | 4/5/25 |
| 15 Year Cash-out Refi | 7.61% | 4/5/25 |
| 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. | ||
Arsenal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
156Origination Dollar Volume (All Markets)
$24,620,000Relative Rate
Arsenal Credit Union's average 30 year fixed mortgage rate was
5.86%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.69%.
Relative Fees (Closing Costs)
Arsenal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,870.
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 $8,356.
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 |
|---|---|---|---|---|---|
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 152 | $22,240,000 | $146,316 | $740 | 6.57% |
| Farmington, MO (FHA|USDA|VA) | 4 | $2,380,000 | $595,000 | $772 | 7.31% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 154 | $23,980,000 | $155,714 | $742 | 6.60% |
| HELOC | 1 | $305,000 | $305,000 | n/a | 7.25% |
| USDA | 1 | $335,000 | $335,000 | $0 | 4.50% |
For 2024, Arsenal Credit Union's most frequently originated type of loan was Conventional, with 154 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2024, Arsenal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 78 originations. The 2nd most popular reason was Home Purchase, with 48 originations.
Loan Duration/Length
For 2024, Arsenal Credit Union's most frequently cited loan duration was 30 Year, with 58 originations. The 2nd most popular length was 15 Year, with 39 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1 | $435,000 | $435,000 |
Arsenal Credit Union's average total fees were $3,870, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1 originations.
Interest Rates
During 2024, Arsenal Credit Union's average interest rate for loans was 5.86%, while their most frequently originated rate bucket for loans was 6-7%, with 63 originations.
Loan Sizing
2024 saw Arsenal Credit Union place emphasis on $100,000 or less loans with 72 originations, totaling $3,690,000 in origination value.
Applicant Income
Arsenal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $150k-250k, with 38 originations.
Applicant Debt to Income Ratio
Arsenal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 43 originations. The next most common DTI ratio? 30-36%, with 41 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.53%
Arsenal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination96.79%
Arsenal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 156 | $24,620,000 | $157,821 |