Arsenal Credit Union Mortgage Rates, Fees & Info

Arnold, MO

LEI: 549300OSS620JYU5KR81

Tax ID: 43-0663009

5 stars - Updated: 3/28/24 - out of 5 stars, based on 11 reviews

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

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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. Their top two markets are St. Louis and Farmington .

Arsenal Credit Union has an average approval rate when compared to the average across all lenders. They have an 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 relatively high 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
30 Year Conventional Purchase 6.27% 3/28/24
15 Year Conventional Refi 6.59% 3/28/24
15 Year Cash-out Refi 6.59% 3/28/24
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.

Arsenal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Arsenal 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

127

Origination Dollar Volume (All Markets)

$15,625,000

Relative Rate

Arsenal Credit Union's average 30 year fixed mortgage rate was 6.56%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.08%.

Relative Fees (Closing Costs)

Arsenal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,314.

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 $9,089.

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) 119 $15,055,000 $126,513 $674 7.00%
Outside of Metro Areas 4 $350,000 $87,500 $814 6.35%
Farmington, MO (FHA|USDA|VA) 4 $220,000 $55,000 $1,621 6.84%
Arsenal Credit Union's top markets include St. Louis and Farmington among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 127 $15,625,000 $123,031 $750 6.97%

    For 2023, Arsenal Credit Union's most frequently originated type of loan was Conventional, with 127 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 49 $2,655,000 $54,184 $657 7.17%
    Cash Out Refi 43 $3,505,000 $81,512 $659 6.92%
    Home Purchase 17 $7,325,000 $430,882 $3,314 6.63%
    Refi 14 $1,950,000 $139,286 $559 6.64%
    Other 4 $190,000 $47,500 $753 7.88%

    For 2023, Arsenal Credit Union's most frequently cited loan purpose was Home Improvement, with 49 originations. The 2nd most popular reason was Cash Out Refi, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 79 $5,205,000 $65,886 $663 7.23%
    10 Year 18 $910,000 $50,556 $629 6.65%
    30 Year 13 $3,175,000 $244,231 $3,314 6.56%
    5 Year 13 $2,765,000 $212,692 $616 6.31%
    Other 4 $3,570,000 $892,500 $0 6.75%

    For 2023, Arsenal Credit Union's most frequently cited loan duration was 15 Year, with 79 originations. The 2nd most popular length was 10 Year, with 18 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2 $190,000 $95,000

    Arsenal Credit Union's average total fees were $3,314, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 41 $3,715,000 $90,610
    5-6% 36 $2,780,000 $77,222
    6-7% 30 $7,580,000 $252,667
    Over 8% 19 $1,525,000 $80,263

    During 2023, Arsenal Credit Union's average interest rate for loans was 6.56%, while their most frequently originated rate bucket for loans was 7-8%, with 41 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 93 $4,595,000 $49,409 $700 7.02%
    $100k-200k 17 $2,155,000 $126,765 $1,159 7.00%
    $200k-400k 10 $2,980,000 $298,000 $0 6.86%
    $400k-600k 4 $1,930,000 $482,500 $0 6.31%
    $600k-1MM 2 $1,660,000 $830,000 $0 6.88%
    $1MM+ 1 $2,305,000 $2,305,000 $0 6.50%

    2023 saw Arsenal Credit Union place emphasis on $100,000 or less loans with 93 originations, totaling $4,595,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 35 $2,915,000 $83,286 $753 7.06%
    $150k-250k 27 $2,385,000 $88,333 $659 7.28%
    $75k-100k 27 $1,605,000 $59,444 $884 6.93%
    $50k-75k 15 $1,145,000 $76,333 $668 6.75%
    $50k or less 10 $470,000 $47,000 $588 6.81%
    $250k+ 3 $775,000 $258,333 $585 5.78%

    Arsenal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 35 originations. The second most popular income band? $150k-250k, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 27 $2,105,000 $77,963 $796 6.84%
    30-36% 20 $1,460,000 $73,000 $593 7.32%
    <20% 16 $1,580,000 $98,750 $978 6.56%
    37% 8 $310,000 $38,750 $462 7.02%
    38% 7 $695,000 $99,286 $720 7.54%
    42% 7 $875,000 $125,000 $595 7.22%
    36% 7 $375,000 $53,571 $859 7.14%
    41% 6 $490,000 $81,667 $688 6.98%
    40% 5 $355,000 $71,000 $775 6.56%
    43% 3 $125,000 $41,667 $811 7.13%
    46% 3 $135,000 $45,000 $624 7.12%
    39% 2 $200,000 $100,000 $785 8.00%
    44% 2 $220,000 $110,000 $680 6.33%
    45% 2 $280,000 $140,000 $1,033 7.13%
    >60% 2 $90,000 $45,000 $633 5.85%

    Arsenal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 27 originations. The next most common DTI ratio? 30-36%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 94 $7,610,000 $80,957 $772 6.98%
    Not applicable 10 $6,330,000 $633,000 $0 6.80%
    Black 11 $785,000 $71,364 $736 7.02%
    Not provided 11 $785,000 $71,364 $544 7.18%
    Asian 1 $115,000 $115,000 $0 5.38%

    Approval Rates

    Total approvals of all applications
    88.82%

    Arsenal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.70%

    Arsenal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 127 $15,625,000 $123,031

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    127 $15,625,000 $123,031

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $3,105,000 $94,091 $682 7.15%
    40-60% 4 $960,000 $240,000 $862 6.63%
    60-80% 10 $5,420,000 $542,000 $0 6.76%
    80-100% 9 $2,525,000 $280,556 $3,314 6.49%
    Over 100% 1 $425,000 $425,000 $0 6.50%
    Under 20% 70 $3,190,000 $45,571 $627 7.01%