Arc Federal Credit Union Mortgage Rates, Fees & Info
Altoona, PALEI: 549300VOPM5QG76KFF73
Tax ID: 23-1573267
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Arc Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Arc Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Altoona, Johnstown, State College, Huntingdon, and Indiana among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Arc Federal 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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Originations
121Origination Dollar Volume (All Markets)
$11,195,000Top 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 |
|---|---|---|---|---|---|
| ALTOONA, PA (FHA|USDA|VA) | 102 | $9,450,000 | $92,647 | $0 | 0.00% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 6 | $660,000 | $110,000 | $0 | 0.00% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $0 | 0.00% |
| Huntingdon, PA (FHA|USDA|VA) | 4 | $260,000 | $65,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $255,000 | $85,000 | $0 | 0.00% |
| Indiana, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| DuBois, PA (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 0.00% |
| Somerset, PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 121 | $11,195,000 | $92,521 | $0 | 0.00% |
For 2022, Arc Federal Credit Union's most frequently originated type of loan was Conventional, with 121 originations.
Loan Reason
For 2022, Arc Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 46 originations. The 2nd most popular reason was Home Purchase, with 29 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 121 | $11,195,000 | $92,521 | $0 | 0.00% |
For 2022, Arc Federal Credit Union's most frequently cited loan duration was Other, with 121 originations.
Loan Sizing
2022 saw Arc Federal Credit Union place emphasis on $100,000 or less loans with 82 originations, totaling $4,330,000 in origination value.
Applicant Income
Arc Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 30 originations. The second most popular income band? $50k-75k, with 27 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 121 | $11,195,000 | $92,521 | $0 | 0.00% |
Arc Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 121 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 108 | $9,800,000 | $90,741 | $0 | 0.00% |
| Not applicable | 13 | $1,395,000 | $107,308 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.24%
Arc Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination95.04%
Arc Federal 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 |
|---|---|---|---|
| Exempt | 121 | $11,195,000 | $92,521 |