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 Refi and Home Purchase loans. Arsenal Credit Union has a high proportion of conventional loans. Their top (well, only) market is St. Louis.Arsenal 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.
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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
78Origination Dollar Volume (All Markets)
$15,820,000Top 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) | 76 | $15,030,000 | $197,763 | $0 | 5.61% |
| Outside of Metro Areas | 2 | $790,000 | $395,000 | $0 | 4.93% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 75 | $14,925,000 | $199,000 | $0 | 5.61% |
| HELOC | 3 | $895,000 | $298,333 | n/a | 5.12% |
For 2022, Arsenal Credit Union's most frequently originated type of loan was Conventional, with 75 originations. Their 2nd most popular type was HELOC, with 3 originations.
Loan Reason
For 2022, Arsenal Credit Union's most frequently cited loan purpose was Home Improvement, with 40 originations. The 2nd most popular reason was Other, with 11 originations.
Loan Duration/Length
For 2022, Arsenal Credit Union's most frequently cited loan duration was 15 Year, with 47 originations. The 2nd most popular length was 10 Year, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 67 | $7,355,000 | $109,776 |
| 4-5% | 7 | $5,625,000 | $803,571 |
| 3-4% | 3 | $2,815,000 | $938,333 |
| 6-7% | 1 | $25,000 | $25,000 |
During 2022, Arsenal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 67 originations.
Loan Sizing
2022 saw Arsenal Credit Union place emphasis on $100,000 or less loans with 57 originations, totaling $2,855,000 in origination value.
Applicant Income
Arsenal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 26 originations. The second most popular income band? $150k-250k, with 10 originations.
Applicant Debt to Income Ratio
Arsenal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? 30-36%, with 15 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.80%
Arsenal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination87.18%
Arsenal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 78 | $15,820,000 | $202,821 |