Kirtland Federal Credit Union Mortgage Rates, Fees & Info

Albuquerque, NM

LEI: 2549008NZFLT1BQ8EN23

Tax ID: 85-0139226

5 stars - Updated: 10/13/24 - out of 5 stars, based on 22 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Kirtland Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Kirtland Federal 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: Albuquerque, Santa Fe, Las Cruces, Ruidoso, and Taos among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Kirtland Federal 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. Kirtland Federal Credit Union is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 10/13/24
30 Year Conventional Purchase 7.06% 10/13/24
30 Year Conventional Refi 6.78% 10/13/24
30 Year Cash-out Refi 6.94% 10/13/24
30 Year FHA Purchase 7.75% 10/13/24
30 Year VA Purchase 6.69% 10/13/24
30 Year VA Refi 6.60% 10/13/24
15 Year Conventional Purchase 6.26% 10/13/24
15 Year Conventional Refi 6.41% 10/13/24
15 Year Cash-out Refi 6.41% 10/13/24
15 Year VA Purchase 5.68% 10/13/24
15 Year VA Refi 5.68% 10/13/24
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.

Kirtland Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Kirtland Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

481

Origination Dollar Volume (All Markets)

$59,615,000

Awards

Kirtland Federal Credit Union 30 Year Conventional Loans gold Kirtland Federal Credit Union 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Kirtland Federal Credit Union's average 30 year fixed mortgage rate was 5.5%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.98%.

Relative Fees (Closing Costs)

Kirtland Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $7,938.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

Top 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
ALBUQUERQUE, NM (FHA|USDA|VA) 456 $56,180,000 $123,202 $2,462 7.55%
SANTA FE, NM (FHA|USDA|VA) 13 $1,705,000 $131,154 $1,843 8.35%
LAS CRUCES, NM (FHA|USDA|VA) 3 $615,000 $205,000 $3,746 6.42%
Outside of Metro Areas 3 $395,000 $131,667 $4,077 6.71%
Ruidoso, NM (FHA|USDA|VA) 1 $235,000 $235,000 $6,217 7.75%
Taos, NM (FHA|USDA|VA) 1 $195,000 $195,000 $0 9.50%
Las Vegas, NM (FHA|USDA|VA) 2 $150,000 $75,000 $3,013 6.13%
EspaƱola, NM (FHA|USDA|VA) 1 $85,000 $85,000 $3,527 4.88%
Grants, NM (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.00%
Kirtland Federal Credit Union's top markets include Albuquerque, Santa Fe, Las Cruces, Ruidoso, and Taos among others.

Their top states include:
  • New Mexico (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Kirtland Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 176
    Del Norte Credit Union
    Similarity Rank: 231
    SANDIA LABORATORY
    Similarity Rank: 342
    Kirtland Federal Credit Union
    Similarity Rank: 558
    NUSENDA
    Similarity Rank: 702
    First Financial Credit Union
    Similarity Rank: 924
    Morgan Stanley Private Bank
    Similarity Rank: 2200
    PULTE MORTGAGE LLC
    Similarity Rank: 2769
    DHI MORTGAGE COMPANY, LTD.
    Similarity Rank: 3178
    SIRVA MORTGAGE, INC.
    Similarity Rank: 3968

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 322 $43,610,000 $135,435 $2,358 7.35%
    HELOC 152 $13,980,000 $91,974 n/a 8.03%
    VA 5 $1,515,000 $303,000 $7,413 6.50%
    FHA 2 $510,000 $255,000 $10,678 6.56%

    For 2023, Kirtland Federal Credit Union's most frequently originated type of loan was Conventional, with 322 originations. Their 2nd most popular type was HELOC, with 152 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 164 $10,680,000 $65,122 $10 7.97%
    Other 114 $7,180,000 $62,982 $7 8.15%
    Home Purchase 87 $23,355,000 $268,448 $7,185 6.07%
    Refi 85 $8,575,000 $100,882 $712 8.04%
    Cash Out Refi 31 $9,825,000 $316,935 $7,942 5.90%

    For 2023, Kirtland Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 164 originations. The 2nd most popular reason was Other, with 114 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 337 $28,965,000 $85,950 $714 8.08%
    30 Year 85 $27,835,000 $327,471 $7,938 5.50%
    10 Year 58 $2,660,000 $45,862 $83 7.50%
    20 Year 1 $155,000 $155,000 $6,156 6.25%

    For 2023, Kirtland Federal Credit Union's most frequently cited loan duration was 15 Year, with 337 originations. The 2nd most popular length was 30 Year, with 85 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 223 $13,445,000 $60,291
    $5k+ 34 $15,650,000 $460,294
    $3k-4k 31 $7,045,000 $227,258
    $4k-5k 26 $7,410,000 $285,000
    $2k-3k 9 $1,495,000 $166,111
    $1k-2k 6 $590,000 $98,333

    Kirtland Federal Credit Union's average total fees were $7,938, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 223 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 190 $15,400,000 $81,053
    Over 8% 157 $11,455,000 $72,962
    6-7% 68 $12,360,000 $181,765
    5-6% 34 $9,930,000 $292,059
    4-5% 29 $9,305,000 $320,862
    3-4% 3 $1,165,000 $388,333

    During 2023, Kirtland Federal Credit Union's average interest rate for loans was 5.50%, while their most frequently originated rate bucket for loans was 7-8%, with 190 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 296 $15,380,000 $51,959 $118 8.07%
    $100k-200k 91 $12,665,000 $139,176 $2,698 7.42%
    $200k-400k 76 $20,360,000 $267,895 $7,208 6.13%
    $400k-600k 10 $4,730,000 $473,000 $10,782 5.40%
    $600k-1MM 6 $4,210,000 $701,667 $12,593 5.71%
    $1MM+ 2 $2,270,000 $1,135,000 $19,437 5.69%

    2023 saw Kirtland Federal Credit Union place emphasis on $100,000 or less loans with 296 originations, totaling $15,380,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 141 $16,015,000 $113,582 $1,994 7.61%
    $75k-100k 106 $10,760,000 $101,509 $1,946 7.64%
    $150k-250k 89 $15,065,000 $169,270 $3,975 7.37%
    $50k-75k 79 $7,425,000 $93,987 $1,809 7.77%
    $50k or less 34 $2,090,000 $61,471 $1,369 7.49%
    $250k+ 30 $8,060,000 $268,667 $5,093 7.04%

    Kirtland Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 141 originations. The second most popular income band? $75k-100k, with 106 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 92 $9,110,000 $99,022 $2,135 7.39%
    30-36% 71 $9,865,000 $138,944 $2,406 7.35%
    <20% 36 $3,050,000 $84,722 $1,247 7.38%
    43% 29 $3,225,000 $111,207 $3,470 7.77%
    37% 26 $3,590,000 $138,077 $3,447 7.54%
    49% 25 $2,725,000 $109,000 $2,442 7.28%
    41% 25 $4,165,000 $166,600 $2,468 8.25%
    44% 23 $4,455,000 $193,696 $4,046 7.48%
    46% 20 $2,140,000 $107,000 $999 7.83%
    47% 19 $2,395,000 $126,053 $2,398 7.39%
    42% 16 $2,190,000 $136,875 $3,773 7.87%
    38% 16 $1,710,000 $106,875 $1,611 7.74%
    50-60% 15 $3,365,000 $224,333 $6,167 6.94%
    40% 15 $1,785,000 $119,000 $2,229 7.38%
    39% 15 $2,015,000 $134,333 $2,931 8.26%
    45% 15 $1,485,000 $99,000 $1,261 8.11%
    36% 11 $1,075,000 $97,727 $1,247 7.77%
    48% 10 $1,070,000 $107,000 $1,794 7.59%
    >60% 2 $200,000 $100,000 $0 6.75%

    Kirtland Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 92 originations. The next most common DTI ratio? 30-36%, with 71 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 330 $39,480,000 $119,636 $2,270 7.55%
    Not provided 114 $13,860,000 $121,579 $2,601 7.57%
    Asian 14 $2,790,000 $199,286 $4,800 7.38%
    American Indian 10 $1,710,000 $171,000 $4,185 7.15%
    Black 10 $1,550,000 $155,000 $4,107 7.49%
    Native Hawaiian or Islander 2 $180,000 $90,000 $0 9.13%
    Other Pacific Islander 1 $45,000 $45,000 $0 7.50%

    Approval Rates

    Total approvals of all applications
    75.65%

    Kirtland Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    66.53%

    Kirtland Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 481 $59,615,000 $123,940

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    481 $59,615,000 $123,940

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 124 $12,300,000 $99,194 $461 7.93%
    40-60% 45 $9,495,000 $211,000 $5,271 7.30%
    60-80% 37 $9,705,000 $262,297 $6,787 6.07%
    80-100% 51 $17,315,000 $339,510 $8,156 5.55%
    Over 100% 1 $355,000 $355,000 $15,172 6.75%
    Under 20% 223 $10,445,000 $46,839 $26 8.09%