Kirtland Federal Credit Union Mortgage Rates, Fees & Info

Albuquerque, NM

LEI: 2549008NZFLT1BQ8EN23

Tax ID: 85-0139226

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Kirtland Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi 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, and Grants among others. We have data for 4 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 a low 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 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.

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

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 12/3/24
    30 Year Conventional Purchase 7.06% 12/3/24
    30 Year Conventional Refi 6.78% 12/3/24
    30 Year Cash-out Refi 6.94% 12/3/24
    30 Year FHA Purchase 7.75% 12/3/24
    30 Year VA Purchase 6.69% 12/3/24
    30 Year VA Refi 6.60% 12/3/24
    15 Year Conventional Purchase 6.26% 12/3/24
    15 Year Conventional Refi 6.41% 12/3/24
    15 Year Cash-out Refi 6.41% 12/3/24
    15 Year VA Purchase 5.68% 12/3/24
    15 Year VA Refi 5.68% 12/3/24
    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

    324

    Origination Dollar Volume (All Markets)

    $43,220,000
    Show all (5) awards

    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) 312 $41,750,000 $133,814 $2,671 5.00%
    SANTA FE, NM (FHA|USDA|VA) 5 $865,000 $173,000 $2,528 4.62%
    Outside of Metro Areas 5 $345,000 $69,000 $3,189 4.87%
    Grants, NM (FHA|USDA|VA) 2 $260,000 $130,000 $687 8.18%
    Kirtland Federal Credit Union's top markets include Albuquerque, Santa Fe, and Grants 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.

    SANDIA LABORATORY
    Similarity Rank: 28
    Kirtland Federal Credit Union
    Similarity Rank: 96
    SANDIA AREA
    Similarity Rank: 144
    RIO GRANDE
    Similarity Rank: 195
    Del Norte Credit Union
    Similarity Rank: 396
    First Financial Credit Union
    Similarity Rank: 820
    New Mexico Bank & Trust
    Similarity Rank: 869
    NUSENDA
    Similarity Rank: 960
    CLEARPATH LENDING
    Similarity Rank: 1932
    LEGACY MORTGAGE LLC
    Similarity Rank: 3894

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 285 $35,085,000 $123,105 $2,288 5.08%
    VA 32 $6,970,000 $217,813 $3,995 4.43%
    FHA 6 $1,140,000 $190,000 $5,184 4.69%
    HELOC 1 $25,000 $25,000 n/a 6.99%

    For 2018, Kirtland Federal Credit Union's most frequently originated type of loan was Conventional, with 285 originations. Their 2nd most popular type was VA, with 32 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 101 $20,375,000 $201,733 $2,385 4.61%
    Refi 65 $7,545,000 $116,077 $2,780 4.96%
    Other 58 $2,720,000 $46,897 $0 6.09%
    Cash Out Refi 54 $9,550,000 $176,852 $3,004 4.41%
    Home Improvement 46 $3,030,000 $65,870 $3,545 5.33%

    For 2018, Kirtland Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 101 originations. The 2nd most popular reason was Refi, with 65 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 132 $13,610,000 $103,106 $2,429 5.39%
    30 Year 129 $26,635,000 $206,473 $2,793 4.56%
    10 Year 38 $1,690,000 $44,474 $2,387 5.26%
    5 Year 21 $785,000 $37,381 $0 5.14%
    20 Year 2 $290,000 $145,000 $1,668 4.56%
    Other 2 $210,000 $105,000 $2,714 4.38%

    For 2018, Kirtland Federal Credit Union's most frequently cited loan duration was 15 Year, with 132 originations. The 2nd most popular length was 30 Year, with 129 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 290 $37,360,000 $128,828
    $1k-2k 12 $1,870,000 $155,833
    $3k-4k 5 $1,275,000 $255,000
    $2k-3k 4 $900,000 $225,000
    $4k-5k 3 $675,000 $225,000
    $5k+ 2 $470,000 $235,000

    Kirtland Federal Credit Union's average total fees were $2,793, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 290 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 185 $29,385,000 $158,838
    5-6% 59 $5,325,000 $90,254
    3-4% 34 $6,340,000 $186,471
    6-7% 30 $1,400,000 $46,667
    7-8% 8 $260,000 $32,500
    Over 8% 7 $195,000 $27,857
    2.5-3% 1 $315,000 $315,000

    During 2018, Kirtland Federal Credit Union's average interest rate for loans was 4.56%, while their most frequently originated rate bucket for loans was 4-5%, with 185 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 145 $6,855,000 $47,276 $2,364 5.63%
    $100k-200k 106 $15,600,000 $147,170 $2,430 4.55%
    $200k-400k 66 $17,430,000 $264,091 $3,109 4.48%
    $400k-600k 6 $2,570,000 $428,333 $2,759 4.48%
    $600k-1MM 1 $765,000 $765,000 $3,192 4.88%

    2018 saw Kirtland Federal Credit Union place emphasis on $100,000 or less loans with 145 originations, totaling $6,855,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 89 $13,805,000 $155,112 $3,299 5.06%
    $50k-75k 71 $8,705,000 $122,606 $2,406 4.92%
    $50k or less 59 $5,415,000 $91,780 $2,312 4.93%
    $75k-100k 53 $5,815,000 $109,717 $2,312 5.30%
    $150k-250k 36 $6,160,000 $171,111 $2,775 4.85%
    $250k+ 11 $3,035,000 $275,909 $2,473 4.94%

    Kirtland Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 89 originations. The second most popular income band? $50k-75k, with 71 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 88 $11,600,000 $131,818 $2,595 4.90%
    30-36% 70 $9,190,000 $131,286 $2,924 5.15%
    <20% 41 $4,725,000 $115,244 $2,228 4.86%
    40% 14 $1,800,000 $128,571 $2,567 5.15%
    41% 13 $1,675,000 $128,846 $2,426 4.98%
    47% 11 $2,285,000 $207,727 $2,405 5.03%
    43% 11 $2,055,000 $186,818 $4,175 5.18%
    37% 10 $1,570,000 $157,000 $3,143 5.27%
    36% 10 $1,270,000 $127,000 $2,304 5.05%
    38% 10 $1,790,000 $179,000 $3,028 4.54%
    44% 10 $1,520,000 $152,000 $1,864 4.66%
    39% 7 $675,000 $96,429 $1,126 5.23%
    45% 7 $625,000 $89,286 $2,250 5.71%
    48% 6 $510,000 $85,000 $1,674 5.10%
    50-60% 5 $585,000 $117,000 $2,058 5.75%
    49% 5 $655,000 $131,000 $3,264 4.97%
    42% 3 $415,000 $138,333 $2,604 4.50%
    46% 3 $275,000 $91,667 $2,954 5.29%

    Kirtland Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 88 originations. The next most common DTI ratio? 30-36%, with 70 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 280 $36,020,000 $128,643 $2,608 5.06%
    Asian 12 $2,350,000 $195,833 $2,084 4.52%
    Black 13 $1,795,000 $138,077 $2,742 4.59%
    Not provided 10 $1,360,000 $136,000 $3,197 5.38%
    American Indian 5 $995,000 $199,000 $4,532 4.55%
    Native Hawaiian or Islander 3 $625,000 $208,333 $4,049 4.08%
    Not applicable 1 $75,000 $75,000 $0 4.50%

    Approval Rates

    Total approvals of all applications
    84.87%

    Kirtland Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    79.01%

    Kirtland Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 324 $43,220,000 $133,395

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 324 $43,220,000 $133,395

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $3,070,000 $69,773 $2,393 5.48%
    40-60% 18 $2,590,000 $143,889 $2,863 4.36%
    60-80% 77 $12,995,000 $168,766 $2,460 4.58%
    80-100% 99 $20,625,000 $208,333 $2,495 4.53%
    Over 100% 4 $1,070,000 $267,500 $9,989 4.38%
    Under 20% 81 $2,785,000 $34,383 $0 5.95%