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 Refi loans. Arsenal Credit Union has a high proportion of conventional loans. Their top (well, only) market is St. Louis.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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Refi | 6.59% | 4/21/24 |
| 15 Year Cash-out Refi | 6.59% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
46Origination Dollar Volume (All Markets)
$3,520,000Top 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) | 46 | $3,520,000 | $76,522 | $0 | 6.19% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 44 | $3,090,000 | $70,227 | $0 | 6.16% |
| HELOC | 2 | $430,000 | $215,000 | n/a | 6.70% |
For 2019, Arsenal Credit Union's most frequently originated type of loan was Conventional, with 44 originations. Their 2nd most popular type was HELOC, with 2 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 20 | $2,110,000 | $105,500 | $0 | 5.89% |
| Home Improvement | 19 | $635,000 | $33,421 | $0 | 6.55% |
| Refi | 7 | $775,000 | $110,714 | $0 | 6.04% |
For 2019, Arsenal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 20 originations. The 2nd most popular reason was Home Improvement, with 19 originations.
Loan Duration/Length
For 2019, Arsenal Credit Union's most frequently cited loan duration was 15 Year, with 18 originations. The 2nd most popular length was 10 Year, with 15 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 25 | $2,005,000 | $80,200 |
| 5-6% | 12 | $590,000 | $49,167 |
| 7-8% | 5 | $195,000 | $39,000 |
| 4-5% | 2 | $310,000 | $155,000 |
| <2.5% | 1 | $395,000 | $395,000 |
| 3-4% | 1 | $25,000 | $25,000 |
During 2019, Arsenal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 25 originations.
Loan Sizing
2019 saw Arsenal Credit Union place emphasis on $100,000 or less loans with 36 originations, totaling $1,370,000 in origination value.
Applicant Income
Arsenal Credit Union lent most frequently to those with incomes in the $50k or less range, with 9 originations. The second most popular income band? $100k-150k, with 7 originations.
Applicant Debt to Income Ratio
Arsenal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? 30-36%, with 8 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.00%
Arsenal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination97.83%
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 | 46 | $3,520,000 | $76,522 |