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ARMCO CREDIT UNION

BUTLER, PA

ARMCO CREDIT UNION processed 660 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 537 loans with a 9.4% denial rate. Home Improvement was the primary loan purpose. Based in BUTLER, PA. The approval rate of 81.4% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. ARMCO CREDIT UNION processed 660 HMDA-reported mortgage applications in 2024, originating 537 loans and denying 62 for a denial rate of 9.4% (applicants themselves withdrew 58 files before a decision). The average loan amount was $87,712 at a 7.788% average note rate, and applicants self-reported an average income of $34,000. The lender reports under LEI 549300YL0FE99QLVY380 from BUTLER, PA.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% — HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. ARMCO CREDIT UNION's 81.4% origination rate tells you how often an application turned into funded money; the 9.4% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Other, which together explain the majority of rejections. Most activity concentrated in Conventional loans (660 applications).

How to read this page. These figures are aggregate HMDA disclosures — they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting — it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

660
Applications
537
Originated
9.4%
Denial Rate
$87,712
Avg Loan Amount
Avg Interest Rate: 7.788% Avg Applicant Income: $34,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 660 537 62 $87,712

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for ARMCO CREDIT UNION (LEI: 549300YL0FE99QLVY380) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
25
Credit history
23
Other
15
Collateral
8
Unverifiable information
4
Employment history
2
Insufficient cash
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Improvement 256 215 $71,172
Other 232 194 $82,931
Home Purchase 85 55 $119,588
Refinancing 64 54 $116,563
Cash-out Refinancing 23 19 $121,957

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 617 81.8% 9.4%
Joint 7 85.7% 0.0%
Asian 2 100.0% 0.0%
Black or African American 2 50.0% 50.0%

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 614 81.6% 9.6%
Joint 6 66.7% 16.7%
Hispanic or Latino 4 75.0% 0.0%

Nearby Lenders in PA

Other HMDA-reporting lenders in PA with similar activity. Compare any two side-by-side.

NEWREZ LLC

FORT WASHINGTON, PA

248,242 apps 52,121 originated 11.5% denied

PNC BANK N.A.

Pittsburgh, PA

127,108 apps 56,830 originated 25.4% denied

SPRING EQ, LLC

RADNOR, PA

104,263 apps 31,186 originated 54.8% denied

NVR MORTGAGE FINANCE, INC.

PITTSBURGH, PA

23,698 apps 17,311 originated 17.1% denied

FIRST NATIONAL BANK OF PA

PITTSBURGH, PA

22,946 apps 13,057 originated 25.0% denied
Compare ARMCO CREDIT UNION vs NEWREZ LLC →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

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Frequently Asked Questions

How many mortgage applications did ARMCO CREDIT UNION process?
ARMCO CREDIT UNION processed 660 mortgage applications in the 2023 HMDA reporting year. Of these, 537 were originated (approved and funded), 58 were withdrawn by the applicant, and 62 were denied.
What is ARMCO CREDIT UNION's mortgage approval rate?
ARMCO CREDIT UNION has an approval (origination) rate of 81.4%, meaning 81.4% of all applications resulted in a funded mortgage. The denial rate is 9.4%.
What is the average loan amount at ARMCO CREDIT UNION?
The average mortgage loan amount at ARMCO CREDIT UNION is $87,712. The average interest rate is 7.788%. The average applicant income is $34,000.
What are the most common reasons for mortgage denial at ARMCO CREDIT UNION?
The most common reasons for mortgage denial at ARMCO CREDIT UNION are: Debt-to-income ratio, Credit history, Other. In total, 62 applications were denied out of 660 total applications.
What types of mortgage loans does ARMCO CREDIT UNION offer?
ARMCO CREDIT UNION processes Conventional loans. The most common type is Conventional with 660 applications and an average loan amount of $87,712.
What loan purposes does ARMCO CREDIT UNION serve?
ARMCO CREDIT UNION serves the following loan purposes: Home Improvement (256 applications), Other (232 applications), Home Purchase (85 applications), Refinancing (64 applications), Cash-out Refinancing (23 applications). Home Improvement is the most common purpose.
Where is ARMCO CREDIT UNION located?
ARMCO CREDIT UNION is headquartered in BUTLER, PA. The lender is identified by LEI 549300YL0FE99QLVY380 in HMDA data.
How does ARMCO CREDIT UNION compare in lending across racial demographics?
ARMCO CREDIT UNION reports demographic lending data under HMDA requirements. White applicants have an approval rate of 81.8% and denial rate of 9.4%; Joint applicants have an approval rate of 85.7% and denial rate of 0.0%; Asian applicants have an approval rate of 100.0% and denial rate of 0.0%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology — how this data is sourced, computed, and verified.