Armco Credit Union Mortgage Rates, Fees & InfoButler, PA
Tax ID: 25-1113410
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewArmco Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. Armco Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Pittsburgh, New Castle, Youngstown, and Oil City among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)
Armco Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. 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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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||6.27%||12/10/23|
|30 Year Conventional Purchase||6.27%||12/10/23|
|30 Year Conventional Refi||6.27%||12/10/23|
|30 Year Cash-out Refi||6.27%||12/10/23|
|30 Year VA Purchase||6.27%||12/10/23|
|15 Year Conventional Purchase||5.26%||12/10/23|
|15 Year Conventional Refi||5.40%||12/10/23|
|15 Year Cash-out Refi||5.40%||12/10/23|
|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.|
Armco Credit Union Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Armco Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$71,440,000
Armco Credit Union's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.43%.
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|
|PITTSBURGH, PA (FHA|USDA|VA)||722||$67,700,000||$93,767||$133||4.31%|
|New Castle, PA (FHA|USDA|VA)||12||$1,260,000||$105,000||$125||4.49%|
|YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA)||12||$1,100,000||$91,667||$150||4.72%|
|Outside of Metro Areas||10||$860,000||$86,000||$150||4.32%|
|Oil City, PA (FHA|USDA|VA)||8||$520,000||$65,000||$120||5.40%|
We use machine learning to identify the top lenders compared against ARMCO CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Armco Credit Union's most frequently originated type of loan was Conventional, with 404 originations. Their 2nd most popular type was HELOC, with 359 originations.
For 2022, Armco Credit Union's most frequently cited loan purpose was Home Improvement, with 290 originations. The 2nd most popular reason was Other, with 195 originations.
For 2022, Armco Credit Union's most frequently cited loan duration was 30 Year, with 373 originations. The 2nd most popular length was 15 Year, with 110 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Armco Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 307 originations.
During 2022, Armco Credit Union's average interest rate for loans was 4.33%, while their most frequently originated rate bucket for loans was 3-4%, with 361 originations.
2022 saw Armco Credit Union place emphasis on $100,000 or less loans with 498 originations, totaling $23,350,000 in origination value.
Armco Credit Union lent most frequently to those with incomes in the $100k-150k range, with 186 originations. The second most popular income band? $75k-100k, with 161 originations.
Applicant Debt to Income Ratio
Armco Credit Union lent most frequently to those with DTI ratios of 20-30%, with 212 originations. The next most common DTI ratio? 30-36%, with 149 originations.
Approval RatesTotal approvals of all applications
Armco Credit Union has an average approval rate.
Pick RateApprovals leading to origination
Armco Credit Union has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|