First Financial Credit Union Mortgage Rates, Fees & Info

Albuquerque, NM

LEI: 5493002ABBXAWQFIKV03

Tax ID: 85-0102571

5 stars - Updated: 12/9/24 - out of 5 stars, based on 9 reviews

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

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Mortgage Data

Review & Overview

First Financial Credit Union is a smaller credit union specializing in Home Purchase loans. First Financial Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Albuquerque, Farmington, Santa Fe, Gallup, and Silver City among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Financial Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First Financial 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
30 Year Conventional Purchase 6.81% 12/9/24
30 Year Conventional Refi 6.62% 12/9/24
30 Year Cash-out Refi 6.58% 12/9/24
15 Year Conventional Purchase 10.71% 12/9/24
15 Year Conventional Refi 6.34% 12/9/24
15 Year Cash-out Refi 6.34% 12/9/24
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.

First Financial Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from First Financial 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

81

Origination Dollar Volume (All Markets)

$11,005,000

Relative Rate

First Financial Credit Union's average 30 year fixed mortgage rate was 6.59%.

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

This yields a difference of 0.11%.

Relative Fees (Closing Costs)

First Financial Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,505.

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) 56 $8,710,000 $155,536 $3,000 8.55%
FARMINGTON, NM (FHA|USDA|VA) 7 $515,000 $73,571 $2,417 7.64%
SANTA FE, NM (FHA|USDA|VA) 2 $390,000 $195,000 $3,959 8.00%
Gallup, NM (FHA|USDA|VA) 5 $355,000 $71,000 $1,843 8.17%
Silver City, NM (FHA|USDA|VA) 3 $255,000 $85,000 $2,656 7.12%
Portales, NM (FHA|USDA|VA) 2 $240,000 $120,000 $4,529 6.13%
EspaƱola, NM (FHA|USDA|VA) 1 $215,000 $215,000 $4,334 6.75%
Deming, NM (FHA|USDA|VA) 2 $110,000 $55,000 $2,243 8.93%
Clovis, NM (FHA|USDA|VA) 1 $85,000 $85,000 $4,251 6.13%
Grants, NM (FHA|USDA|VA) 1 $75,000 $75,000 $4,595 5.63%
LAS CRUCES, NM (FHA|USDA|VA) 1 $55,000 $55,000 $787 11.12%
First Financial Credit Union's top markets include Albuquerque, Farmington, Santa Fe, Gallup, and Silver City among others.

Their top states include:
  • New Mexico (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 80 $10,750,000 $134,375 $2,932 8.26%
    HELOC 1 $255,000 $255,000 n/a 9.25%

    For 2023, First Financial Credit Union's most frequently originated type of loan was Conventional, with 80 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 31 $7,275,000 $234,677 $5,141 6.92%
    Refi 25 $2,015,000 $80,600 $1,602 8.82%
    Cash Out Refi 25 $1,715,000 $68,600 $1,470 9.40%

    For 2023, First Financial Credit Union's most frequently cited loan purpose was Home Purchase, with 31 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 39 $2,405,000 $61,667 $777 10.00%
    30 Year 33 $7,835,000 $237,424 $5,505 6.59%
    20 Year 6 $440,000 $73,333 $3,269 6.71%
    10 Year 2 $70,000 $35,000 $1,475 6.63%
    1 Year 1 $255,000 $255,000 $0 9.25%

    For 2023, First Financial Credit Union's most frequently cited loan duration was 15 Year, with 39 originations. The 2nd most popular length was 30 Year, with 33 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 39 $2,025,000 $51,923
    $1k-2k 15 $1,335,000 $89,000
    $2k-3k 12 $2,270,000 $189,167
    $4k-5k 6 $2,230,000 $371,667
    $3k-4k 5 $1,295,000 $259,000
    $5k+ 3 $1,595,000 $531,667

    First Financial Credit Union's average total fees were $5,505, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 39 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 41 $3,315,000 $80,854
    6-7% 16 $3,350,000 $209,375
    5-6% 12 $1,390,000 $115,833
    7-8% 12 $2,950,000 $245,833

    During 2023, First Financial Credit Union's average interest rate for loans was 6.59%, while their most frequently originated rate bucket for loans was Over 8%, with 41 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 48 $2,670,000 $55,625 $1,225 9.08%
    $200k-400k 15 $4,095,000 $273,000 $5,762 7.20%
    $100k-200k 13 $1,835,000 $141,154 $3,961 6.78%
    $400k-600k 4 $1,750,000 $437,500 $7,967 7.53%
    $600k-1MM 1 $655,000 $655,000 $11,718 8.13%

    2023 saw First Financial Credit Union place emphasis on $100,000 or less loans with 48 originations, totaling $2,670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 18 $1,720,000 $95,556 $1,832 8.58%
    $50k or less 17 $1,115,000 $65,588 $2,339 7.66%
    $100k-150k 16 $2,000,000 $125,000 $2,448 8.80%
    $75k-100k 14 $1,470,000 $105,000 $2,769 7.78%
    $150k-250k 10 $3,160,000 $316,000 $6,039 7.85%
    $250k+ 6 $1,540,000 $256,667 $4,219 9.54%

    First Financial Credit Union lent most frequently to those with incomes in the $50k-75k range, with 18 originations. The second most popular income band? $50k or less, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 20 $2,570,000 $128,500 $3,167 7.72%
    30-36% 13 $1,715,000 $131,923 $3,160 7.73%
    44% 10 $720,000 $72,000 $1,615 8.82%
    42% 6 $320,000 $53,333 $623 10.09%
    41% 6 $660,000 $110,000 $1,796 9.47%
    38% 4 $790,000 $197,500 $3,831 8.59%
    37% 4 $710,000 $177,500 $3,326 8.15%
    39% 3 $625,000 $208,333 $4,450 7.46%
    40% 3 $555,000 $185,000 $2,961 9.66%
    46% 3 $505,000 $168,333 $4,459 6.29%
    49% 2 $740,000 $370,000 $5,995 9.18%
    36% 2 $410,000 $205,000 $4,723 6.69%
    43% 2 $380,000 $190,000 $4,057 8.43%
    45% 1 $155,000 $155,000 $5,055 6.50%
    47% 1 $85,000 $85,000 $3,467 5.88%
    <20% 1 $65,000 $65,000 $496 11.49%

    First Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 13 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 55 $7,605,000 $138,273 $3,244 7.82%
    Not provided 17 $1,895,000 $111,471 $2,196 8.98%
    Asian 4 $1,160,000 $290,000 $4,796 8.93%
    American Indian 3 $195,000 $65,000 $571 10.41%
    Black 2 $150,000 $75,000 $586 10.30%

    Approval Rates

    Total approvals of all applications
    69.57%

    First Financial Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    61.73%

    First Financial 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 81 $11,005,000 $135,864

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    81 $11,005,000 $135,864

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $1,755,000 $92,368 $1,729 8.85%
    40-60% 6 $770,000 $128,333 $3,905 7.27%
    60-80% 11 $2,765,000 $251,364 $5,676 6.60%
    80-100% 16 $4,270,000 $266,875 $5,913 6.73%
    Under 20% 29 $1,445,000 $49,828 $792 9.59%