Deseret First Credit Union Mortgage Rates, Fees & Info
West Valley City, UTLEI: 254900FFZUXK3B729T97
Tax ID: 87-0229235
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Mortgage Data
Review & Overview
Deseret First Credit Union is a smaller credit union specializing in Home Improvement, Cash Out Refi, and Refi loans. Deseret First Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Salt Lake City, Provo, Ogden, St. George, and Logan among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Deseret First Credit Union has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Deseret First 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 6.56% | 4/21/24 |
| 30 Year Conventional Refi | 6.59% | 4/21/24 |
| 30 Year Cash-out Refi | 6.55% | 4/21/24 |
| 15 Year Conventional Purchase | 6.21% | 4/21/24 |
| 15 Year Conventional Refi | 6.07% | 4/21/24 |
| 15 Year Cash-out Refi | 6.07% | 4/21/24 |
| 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. | ||
Deseret First Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
649Origination Dollar Volume (All Markets)
$48,435,000Awards
Deseret First Credit Union - 2018
Deseret First Credit Union is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| SALT LAKE CITY, UT (FHA|USDA|VA) | 232 | $17,810,000 | $76,767 | $712 | 5.89% |
| PROVO-OREM, UT (FHA|USDA|VA) | 178 | $12,500,000 | $70,225 | $657 | 6.20% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 119 | $8,865,000 | $74,496 | $898 | 5.98% |
| ST. GEORGE, UT (FHA|USDA|VA) | 41 | $3,395,000 | $82,805 | $921 | 5.89% |
| Outside of Metro Areas | 32 | $2,970,000 | $92,813 | $895 | 6.43% |
| LOGAN, UT-ID (FHA|USDA|VA) | 26 | $1,450,000 | $55,769 | $1,009 | 5.87% |
| Heber, UT (FHA|USDA|VA) | 8 | $640,000 | $80,000 | $873 | 6.11% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $0 | 5.06% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,712 | 6.50% |
| BOISE CITY, ID (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $725 | 5.38% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $984 | 7.13% |
| Cedar City, UT (FHA|USDA|VA) | 2 | $40,000 | $20,000 | $185 | 5.25% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,057 | 5.25% |
| Price, UT (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,009 | 5.25% |
| Vernal, UT (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 6.75% |
| Blackfoot, ID (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 4.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Deseret First 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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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 342 | $23,350,000 | $68,275 | n/a | 6.23% |
| Conventional | 307 | $25,085,000 | $81,710 | $774 | 5.77% |
For 2018, Deseret First Credit Union's most frequently originated type of loan was HELOC, with 342 originations. Their 2nd most popular type was Conventional, with 307 originations.
Loan Reason
For 2018, Deseret First Credit Union's most frequently cited loan purpose was Home Improvement, with 257 originations. The 2nd most popular reason was Cash Out Refi, with 156 originations.
Loan Duration/Length
For 2018, Deseret First Credit Union's most frequently cited loan duration was 10 Year, with 505 originations. The 2nd most popular length was 30 Year, with 64 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 227 | $14,965,000 | $65,925 |
| $1k-2k | 14 | $1,910,000 | $136,429 |
| $2k-3k | 4 | $840,000 | $210,000 |
| $4k-5k | 2 | $810,000 | $405,000 |
Deseret First Credit Union's average total fees were $1,864, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 227 originations.
Interest Rates
During 2018, Deseret First Credit Union's average interest rate for loans was 5.75%, while their most frequently originated rate bucket for loans was 5-6%, with 217 originations.
Loan Sizing
2018 saw Deseret First Credit Union place emphasis on $100,000 or less loans with 506 originations, totaling $24,500,000 in origination value.
Applicant Income
Deseret First Credit Union lent most frequently to those with incomes in the $100k-150k range, with 167 originations. The second most popular income band? $50k or less, with 154 originations.
Applicant Debt to Income Ratio
Deseret First Credit Union lent most frequently to those with DTI ratios of 20-30%, with 166 originations. The next most common DTI ratio? 30-36%, with 138 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.19%
Deseret First Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination95.07%
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 |
|---|---|---|---|
| NA | 649 | $48,435,000 | $74,630 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 649 | $48,435,000 | $74,630 |