Deseret First Credit Union Mortgage Rates, Fees & Info

West Valley City, UT

LEI: 254900FFZUXK3B729T97

Tax ID: 87-0229235

3.1 stars - out of 5 stars, based on 35 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Deseret First Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Deseret First Credit Union has a high proportion of conventional loans. Their top markets include Salt Lake City, Provo, Ogden, St. George, and Logan among others. Deseret First Credit Union has an average approval rate for mortages when compared nationally. They have an above average pick rate when compared to the same sample of other lendors. Deseret First Credit Union is typically an average fee lendor.


Originations

1,240

Origination Dollar Volume (All Markets)

$207,320,000

Relative Rate

Deseret First Credit Union's average 30 year fixed rate mortgage of loans were 3.67%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.52%.

Relative Fees

Deseret First Credit Union's average total fees for a 30 year fixed rate mortgage are $5,031.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
SALT LAKE CITY, UT (FHA|USDA|VA) 444 $70,600,000 $159,009 $4,647 4.26%
PROVO-OREM, UT (FHA|USDA|VA) 319 $52,345,000 $164,091 $4,783 4.31%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 223 $34,375,000 $154,148 $4,361 4.01%
ST. GEORGE, UT (FHA|USDA|VA) 70 $13,470,000 $192,429 $4,352 4.16%
LOGAN, UT-ID (FHA|USDA|VA) 58 $7,560,000 $130,345 $3,562 4.05%
Outside of Metro Areas 27 $5,175,000 $191,667 $3,468 3.59%
Heber, UT (FHA|USDA|VA) 19 $5,165,000 $271,842 $5,710 3.95%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 10 $2,230,000 $223,000 $4,720 3.63%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $1,355,000 $1,355,000 $32,066 4.38%
BOISE CITY, ID (FHA|USDA|VA) 7 $1,265,000 $180,714 $4,517 3.79%
ALBUQUERQUE, NM (FHA|USDA|VA) 4 $1,060,000 $265,000 $5,910 3.80%
IDAHO FALLS, ID (FHA|USDA|VA) 3 $995,000 $331,667 $6,035 3.79%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 4 $710,000 $177,500 $4,440 3.63%
Jackson, WY-ID (FHA|USDA|VA) 2 $690,000 $345,000 $5,761 3.13%
Kalispell, MT (FHA|USDA|VA) 1 $605,000 $605,000 $8,797 3.88%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $560,000 $280,000 $3,052 2.81%
Rexburg, ID (FHA|USDA|VA) 2 $520,000 $260,000 $5,129 2.50%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $510,000 $255,000 $5,649 4.74%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $450,000 $225,000 $4,038 2.77%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $425,000 $425,000 $2,555 3.13%
TWIN FALLS, ID (FHA|USDA|VA) 3 $425,000 $141,667 $3,863 2.87%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $405,000 $405,000 $8,933 2.75%
Cedar City, UT (FHA|USDA|VA) 2 $380,000 $190,000 $4,049 2.81%
FARMINGTON, NM (FHA|USDA|VA) 1 $375,000 $375,000 $5,999 3.38%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $365,000 $365,000 $6,722 2.50%
RICHMOND, VA (FHA|USDA|VA) 1 $365,000 $365,000 $7,486 2.75%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $345,000 $345,000 $5,841 2.75%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $335,000 $335,000 $3,419 3.49%
POCATELLO, ID (FHA|USDA|VA) 2 $330,000 $165,000 $3,808 2.50%
KNOXVILLE, TN (FHA|USDA|VA) 1 $295,000 $295,000 $2,313 3.38%
Vernal, UT (FHA|USDA|VA) 3 $295,000 $98,333 $5,361 4.28%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $285,000 $285,000 $6,405 3.13%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $265,000 $265,000 $4,953 2.88%
COLORADO SPRINGS, CO (FHA|USDA|VA) 2 $260,000 $130,000 $5,413 3.56%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $255,000 $255,000 $2,770 3.13%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $235,000 $235,000 $5,913 3.00%
Burley, ID (FHA|USDA|VA) 2 $230,000 $115,000 $3,044 2.93%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $225,000 $225,000 $4,740 3.63%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $225,000 $225,000 $5,793 4.13%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $205,000 $205,000 $5,133 3.13%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.50%
Garden City, KS (FHA|USDA|VA) 1 $155,000 $155,000 $3,540 4.13%
MODESTO, CA (FHA|USDA|VA) 1 $135,000 $135,000 $0 5.50%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $125,000 $125,000 $4,080 3.38%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $105,000 $105,000 $2,100 2.13%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $105,000 $105,000 $4,058 3.63%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.25%
Blackfoot, ID (FHA|USDA|VA) 1 $85,000 $85,000 $3,379 2.25%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $75,000 $75,000 $2,559 2.99%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $65,000 $65,000 $0 3.25%
COLUMBIA, MO (FHA|USDA|VA) 1 $15,000 $15,000 $0 3.74%

Deseret First Credit Union's top markets include Salt Lake City, Provo, Ogden, St. George, and Logan among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,240 $207,320,000 $167,194 $4,603 4.14%

For the 2021 period, Deseret First Credit Union's most frequently originated loan type of loans were Conventional, with 1,240 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Improvement 646 $75,640,000 $117,090 $0 4.56%
Refi 171 $34,735,000 $203,129 $3,956 2.90%
Cash Out Refi 165 $47,895,000 $290,273 $4,762 3.31%
Other 138 $15,370,000 $111,377 $0 4.72%
Home Purchase 120 $33,680,000 $280,667 $5,574 4.08%

For the 2021, Deseret First Credit Union's most frequently cited loan purpose of loans were Home Improvement, with 646 originations. The 2nd most popular reason of loans were Refi, with 171 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
10 Year 765 $90,755,000 $118,634 $3,047 4.51%
30 Year 333 $93,955,000 $282,147 $5,031 3.67%
15 Year 106 $14,440,000 $136,226 $3,408 3.21%
20 Year 14 $3,570,000 $255,000 $4,274 2.86%
Other 11 $2,965,000 $269,545 $4,382 2.78%
5 Year 9 $295,000 $32,778 $0 4.05%
30+ year 2 $1,340,000 $670,000 $8,119 4.13%

For the 2021, Deseret First Credit Union's most frequently cited loan length of loans were 10 Year, with 765 originations. The 2nd most popular length of loans were 30 Year, with 333 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 215 $31,865,000 $148,209
$3k-4k 127 $39,595,000 $311,772
$2k-3k 93 $20,545,000 $220,914
$1k-2k 86 $13,090,000 $152,209
$5k+ 30 $17,260,000 $575,333

$5,031 of loans were Deseret First Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 215 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 502 $82,270,000 $163,884
4-5% 245 $38,685,000 $157,898
5-6% 166 $19,340,000 $116,506
2.5-3% 151 $41,865,000 $277,252
<2.5% 80 $13,560,000 $169,500
6-7% 73 $9,505,000 $130,205
7-8% 12 $830,000 $69,167
Over 8% 9 $625,000 $69,444

During 2021, Deseret First Credit Union's average interest rate of loans were 3.67%, while their most frequently originated rate bucket of loans were 3-4%, with 502 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 475 $27,995,000 $58,937 $2,316 4.60%
$100k-200k 392 $52,940,000 $135,051 $3,376 4.06%
$200k-400k 290 $79,760,000 $275,034 $4,743 3.64%
$400k-600k 59 $28,235,000 $478,559 $6,409 3.48%
$600k-1MM 20 $14,020,000 $701,000 $9,946 3.73%
$1MM+ 4 $4,370,000 $1,092,500 $32,066 4.52%

2021 saw Deseret First Credit Union place emphasis on $100,000 or less loans with 475 originations, totaling $27,995,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 384 $57,810,000 $150,547 $4,567 4.24%
$150k-250k 244 $46,740,000 $191,557 $6,840 4.53%
$75k-100k 239 $38,905,000 $162,782 $4,555 3.85%
$50k-75k 173 $23,595,000 $136,387 $3,931 3.68%
$250k+ 109 $28,965,000 $265,734 $6,180 4.57%
$50k or less 90 $10,990,000 $122,111 $3,048 3.79%

Deseret First Credit Union lent most frequently to those with incomes in the $100k-150k range, with 384 originations. The second most popular income band? $150k-250k, with 244 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 301 $48,065,000 $159,684 $4,462 3.89%
30-36% 258 $40,760,000 $157,984 $4,630 4.30%
<20% 179 $29,095,000 $162,542 $4,098 3.80%
44% 55 $12,325,000 $224,091 $5,635 4.31%
40% 54 $8,460,000 $156,667 $4,784 4.53%
41% 52 $7,700,000 $148,077 $3,847 4.41%
42% 49 $8,275,000 $168,878 $5,124 4.41%
38% 49 $8,315,000 $169,694 $5,822 4.29%
39% 46 $7,720,000 $167,826 $5,311 4.40%
36% 45 $8,755,000 $194,556 $4,413 4.06%
37% 44 $7,680,000 $174,545 $4,971 4.27%
43% 34 $5,850,000 $172,059 $5,820 4.53%
45% 30 $4,290,000 $143,000 $4,671 4.58%
>60% 14 $3,640,000 $260,000 $8,149 4.01%
46% 12 $2,550,000 $212,500 $4,583 3.67%
50-60% 10 $2,130,000 $213,000 $3,215 4.12%
47% 4 $870,000 $217,500 $3,625 3.40%
48% 1 $95,000 $95,000 $3,228 2.88%
49% 1 $225,000 $225,000 $6,045 3.38%

Deseret First Credit Union lent most frequently to those with DTI ratios of 20-30%, with 301 originations. The next most common DTI ratio? 30-36%, with 258 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,031 $177,095,000 $171,770 $4,588 4.04%
Not provided 181 $26,185,000 $144,669 $4,755 4.67%
Native Hawaiian 14 $1,770,000 $126,429 $4,446 4.53%
Black 7 $915,000 $130,714 $4,471 4.21%
Asian 3 $755,000 $251,667 $5,923 4.48%
Not applicable 1 $315,000 $315,000 $5,192 3.99%
American Indian 3 $285,000 $95,000 $0 4.08%

Approval Rates

Total approvals of all applications
85.17%

Deseret First Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
95.08%

Deseret First 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
0.0 3 $175,000 $58,333
1011.0 4 $1,220,000 $305,000
1024.0 1 $75,000 $75,000
1035.0 1 $305,000 $305,000
1045.0 2 $420,000 $210,000
1071.0 1 $305,000 $305,000
1083.0 1 $325,000 $325,000
1092.0 1 $175,000 $175,000
1100.0 1 $255,000 $255,000
1107.0 2 $600,000 $300,000
1116.0 1 $55,000 $55,000
1135.0 1 $105,000 $105,000
1193.0 1 $385,000 $385,000
1195.0 1 $375,000 $375,000
1227.0 1 $65,000 $65,000
1240.0 1 $205,000 $205,000
1252.0 2 $810,000 $405,000
1265.0 1 $405,000 $405,000
1276.0 1 $415,000 $415,000
1285.0 1 $115,000 $115,000
1300.0 1 $425,000 $425,000
1345.0 1 $285,000 $285,000
1359.0 1 $265,000 $265,000
1382.0 1 $455,000 $455,000
1397.0 1 $465,000 $465,000
1427.5 1 $95,000 $95,000
1445.0 1 $235,000 $235,000
1471.54 1 $105,000 $105,000
1474.0 1 $105,000 $105,000
1486.5 1 $85,000 $85,000
1493.0 3 $1,505,000 $501,667
150.0 1 $105,000 $105,000
1501.5 1 $115,000 $115,000
1512.0 1 $275,000 $275,000
1515.02 1 $85,000 $85,000
1523.0 1 $135,000 $135,000
1529.0 1 $535,000 $535,000
1535.0 1 $305,000 $305,000
1589.0 1 $575,000 $575,000
1594.0 1 $175,000 $175,000
1596.15 1 $95,000 $95,000
160.0 7 $485,000 $69,286
1629.0 1 $65,000 $65,000
1647.5 1 $95,000 $95,000
1649.0 1 $75,000 $75,000
1682.0 1 $335,000 $335,000
1734.0 1 $705,000 $705,000
1742.0 1 $325,000 $325,000
1743.0 1 $505,000 $505,000
175.0 1 $105,000 $105,000
1816.0 1 $125,000 $125,000
1843.33 1 $325,000 $325,000
185.0 436 $28,940,000 $66,376
1864.0 1 $375,000 $375,000
1970.0 1 $105,000 $105,000
1997.0 1 $105,000 $105,000
2077.0 1 $115,000 $115,000
2096.0 2 $2,010,000 $1,005,000
210.0 1 $125,000 $125,000
2119.0 1 $155,000 $155,000
2122.0 1 $455,000 $455,000
2143.0 1 $505,000 $505,000
225.0 1 $95,000 $95,000
2284.0 1 $705,000 $705,000
230.0 9 $605,000 $67,222
2335.0 1 $145,000 $145,000
235.0 50 $6,010,000 $120,200
2364.0 1 $605,000 $605,000
240.0 1 $135,000 $135,000
2472.0 1 $695,000 $695,000
250.0 5 $275,000 $55,000
2533.0 1 $705,000 $705,000
2537.0 1 $125,000 $125,000
2543.0 1 $175,000 $175,000
2578.0 1 $115,000 $115,000
2607.0 1 $175,000 $175,000
265.0 42 $6,300,000 $150,000
270.0 1 $175,000 $175,000
2763.0 1 $185,000 $185,000
2765.0 1 $185,000 $185,000
279.0 1 $45,000 $45,000
280.0 2 $250,000 $125,000
2805.0 1 $175,000 $175,000
2845.0 1 $145,000 $145,000
2852.0 1 $145,000 $145,000
2885.0 1 $155,000 $155,000
2930.0 1 $265,000 $265,000
295.0 43 $8,115,000 $188,721
310.0 6 $450,000 $75,000
3189.0 1 $225,000 $225,000
325.0 1 $225,000 $225,000
3278.0 1 $195,000 $195,000
3296.0 1 $1,005,000 $1,005,000
342.0 1 $65,000 $65,000
347.0 1 $55,000 $55,000
3493.0 1 $185,000 $185,000
350.0 40 $9,400,000 $235,000
361.55 1 $35,000 $35,000
3661.0 1 $255,000 $255,000
3688.0 1 $245,000 $245,000
369.0 1 $65,000 $65,000
3698.0 1 $215,000 $215,000
3715.0 1 $185,000 $185,000
385.0 1 $205,000 $205,000
395.0 1 $215,000 $215,000
405.0 1 $75,000 $75,000
411.0 1 $85,000 $85,000
4256.0 1 $315,000 $315,000
430.0 1 $165,000 $165,000
4332.0 1 $305,000 $305,000
436.0 2 $180,000 $90,000
440.0 1 $95,000 $95,000
462.0 1 $95,000 $95,000
465.0 1 $155,000 $155,000
4665.0 1 $265,000 $265,000
468.0 10 $1,050,000 $105,000
4735.0 1 $355,000 $355,000
480.0 1 $165,000 $165,000
498.0 1 $115,000 $115,000
50.0 1 $65,000 $65,000
513.0 1 $55,000 $55,000
525.0 1 $255,000 $255,000
528.0 1 $125,000 $125,000
5430.5 1 $305,000 $305,000
570.0 1 $35,000 $35,000
589.0 2 $280,000 $140,000
619.0 1 $155,000 $155,000
626.0 1 $155,000 $155,000
649.0 1 $155,000 $155,000
685.0 4 $310,000 $77,500
710.0 1 $85,000 $85,000
735.0 31 $2,265,000 $73,065
760.0 1 $85,000 $85,000
765.0 1 $135,000 $135,000
769.0 1 $205,000 $205,000
785.0 7 $775,000 $110,714
794.0 1 $215,000 $215,000
810.0 2 $150,000 $75,000
815.0 4 $580,000 $145,000
816.0 1 $15,000 $15,000
818.0 1 $215,000 $215,000
830.0 1 $125,000 $125,000
835.0 1 $25,000 $25,000
843.0 1 $75,000 $75,000
845.0 2 $410,000 $205,000
845.51 1 $35,000 $35,000
860.0 1 $45,000 $45,000
885.0 1 $125,000 $125,000
890.0 5 $1,275,000 $255,000
900.0 1 $245,000 $245,000
921.0 1 $125,000 $125,000
930.0 1 $55,000 $55,000
972.5 1 $95,000 $95,000
983.0 1 $25,000 $25,000
986.0 1 $285,000 $285,000
995.0 1 $185,000 $185,000
NA 384 $104,970,000 $273,359

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,240 $207,320,000 $167,194

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 339 $57,815,000 $170,546 $3,217 4.09%
40-60% 133 $33,305,000 $250,414 $4,202 3.23%
60-80% 159 $54,015,000 $339,717 $5,477 3.32%
80-100% 61 $20,675,000 $338,934 $5,756 3.61%
Under 20% 547 $41,205,000 $75,329 $2,729 4.68%