First Financial Credit Union Mortgage Rates, Fees & Info

Albuquerque, NM

LEI: 5493002ABBXAWQFIKV03

Tax ID: 85-0102571

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    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, Gallup, Farmington, Portales, and Carlsbad 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 an above 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 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.

    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% 4/28/24
    30 Year Conventional Refi 6.62% 4/28/24
    30 Year Cash-out Refi 6.58% 4/28/24
    15 Year Conventional Purchase 10.71% 4/28/24
    15 Year Conventional Refi 6.34% 4/28/24
    15 Year Cash-out Refi 6.34% 4/28/24
    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

    98

    Origination Dollar Volume (All Markets)

    $14,650,000

    Awards

    First Financial Credit Union 30 Year Conventional Loans silver First Financial Credit Union 30 Year Conventional Loans silver
    Show all (2) 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) 75 $12,375,000 $165,000 $2,122 5.13%
    Gallup, NM (FHA|USDA|VA) 5 $555,000 $111,000 $2,629 5.18%
    FARMINGTON, NM (FHA|USDA|VA) 4 $400,000 $100,000 $2,528 4.66%
    Portales, NM (FHA|USDA|VA) 4 $280,000 $70,000 $2,842 5.03%
    Carlsbad-Artesia, NM (FHA|USDA|VA) 1 $235,000 $235,000 $1,828 4.25%
    SANTA FE, NM (FHA|USDA|VA) 3 $195,000 $65,000 $1,077 6.42%
    Deming, NM (FHA|USDA|VA) 1 $195,000 $195,000 $2,586 4.63%
    Taos, NM (FHA|USDA|VA) 1 $175,000 $175,000 $2,092 4.75%
    Silver City, NM (FHA|USDA|VA) 2 $120,000 $60,000 $2,997 4.88%
    Grants, NM (FHA|USDA|VA) 1 $75,000 $75,000 $2,426 4.13%
    Outside of Metro Areas 1 $45,000 $45,000 $2,616 4.13%
    First Financial Credit Union's top markets include Albuquerque, Gallup, Farmington, Portales, and Carlsbad among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against First Financial 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: 60
    RIO GRANDE
    Similarity Rank: 264
    First American Bank
    Similarity Rank: 486
    SIRVA MORTGAGE, INC.
    Similarity Rank: 648
    Del Norte Credit Union
    Similarity Rank: 801
    Kirtland Federal Credit Union
    Similarity Rank: 900
    SANDIA AREA
    Similarity Rank: 910
    First Financial Credit Union
    Similarity Rank: 946
    NUSENDA
    Similarity Rank: 1377
    BETTER MORTGAGE CORPORATION
    Similarity Rank: 2260

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 98 $14,650,000 $149,490 $2,189 5.11%

    For 2019, First Financial Credit Union's most frequently originated type of loan was Conventional, with 98 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 45 $10,075,000 $223,889 $2,422 5.09%
    Cash Out Refi 26 $2,420,000 $93,077 $2,032 5.46%
    Home Improvement 15 $1,015,000 $67,667 $1,891 5.02%
    Refi 12 $1,140,000 $95,000 $2,030 4.53%

    For 2019, First Financial Credit Union's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Cash Out Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 52 $8,710,000 $167,500 $2,555 4.72%
    15 Year 39 $2,755,000 $70,641 $1,491 5.62%
    20 Year 3 $675,000 $225,000 $2,798 5.00%
    10 Year 2 $90,000 $45,000 $1,456 5.75%
    Other 2 $2,420,000 $1,210,000 $6,089 4.63%

    For 2019, First Financial Credit Union's most frequently cited loan duration was 30 Year, with 52 originations. The 2nd most popular length was 15 Year, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 85 $9,995,000 $117,588
    $1k-2k 9 $1,395,000 $155,000
    $2k-3k 2 $840,000 $420,000
    $4k-5k 1 $885,000 $885,000
    $5k+ 1 $1,535,000 $1,535,000

    First Financial Credit Union's average total fees were $2,555, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 85 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 36 $7,420,000 $206,111
    5-6% 22 $3,160,000 $143,636
    3-4% 21 $2,565,000 $122,143
    6-7% 10 $750,000 $75,000
    7-8% 6 $610,000 $101,667
    Over 8% 3 $145,000 $48,333

    During 2019, First Financial Credit Union's average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 4-5%, with 36 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 43 $6,555,000 $152,442 $2,358 4.85%
    $100,000 or less 41 $2,235,000 $54,512 $1,661 5.52%
    $200k-400k 10 $2,410,000 $241,000 $2,673 4.55%
    $400k-600k 2 $1,030,000 $515,000 $3,077 5.50%
    $1MM+ 1 $1,535,000 $1,535,000 $7,674 4.40%
    $600k-1MM 1 $885,000 $885,000 $4,505 4.85%

    2019 saw First Financial Credit Union place emphasis on $100k-200k loans with 43 originations, totaling $6,555,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 30 $3,820,000 $127,333 $2,283 4.79%
    $50k or less 22 $1,850,000 $84,091 $1,914 4.91%
    $100k-150k 17 $2,825,000 $166,176 $2,429 4.99%
    $75k-100k 17 $2,185,000 $128,529 $2,143 5.10%
    $150k-250k 7 $785,000 $112,143 $1,428 6.96%
    $250k+ 5 $3,185,000 $637,000 $3,241 5.73%

    First Financial Credit Union lent most frequently to those with incomes in the $50k-75k range, with 30 originations. The second most popular income band? $50k or less, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 22 $2,940,000 $133,636 $2,303 4.74%
    30-36% 17 $2,395,000 $140,882 $2,425 4.75%
    <20% 8 $740,000 $92,500 $2,320 4.50%
    43% 7 $955,000 $136,429 $2,189 5.39%
    41% 6 $450,000 $75,000 $1,190 5.90%
    42% 5 $475,000 $95,000 $2,078 4.35%
    40% 4 $200,000 $50,000 $1,073 5.97%
    36% 4 $630,000 $157,500 $2,170 5.16%
    39% 4 $320,000 $80,000 $1,094 5.81%
    48% 4 $880,000 $220,000 $3,078 5.47%
    37% 4 $620,000 $155,000 $2,314 5.13%
    49% 3 $415,000 $138,333 $1,990 5.88%
    38% 2 $120,000 $60,000 $2,169 4.25%
    45% 2 $290,000 $145,000 $1,590 6.50%
    50-60% 1 $45,000 $45,000 $1,274 7.75%
    44% 1 $45,000 $45,000 $723 8.88%
    47% 1 $165,000 $165,000 $2,134 4.00%

    First Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? 30-36%, with 17 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 85 $10,935,000 $128,647 $2,106 5.11%
    Native Hawaiian or Islander 3 $2,965,000 $988,333 $4,895 4.92%
    Not provided 4 $330,000 $82,500 $2,207 4.53%
    Black 2 $220,000 $110,000 $2,548 5.44%
    American Indian 2 $90,000 $45,000 $1,839 6.31%
    Japanese 1 $65,000 $65,000 $2,504 4.25%
    Not applicable 1 $45,000 $45,000 $695 5.75%

    Approval Rates

    Total approvals of all applications
    92.81%

    First Financial Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.41%

    First Financial Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 98 $14,650,000 $149,490

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 7 $465,000 $66,429
    Single Family (1-4 Units):Site-Built 91 $14,185,000 $155,879

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $570,000 $47,500 $1,400 5.42%
    40-60% 11 $985,000 $89,545 $2,665 4.17%
    60-80% 26 $4,260,000 $163,846 $2,648 4.93%
    80-100% 30 $5,650,000 $188,333 $2,535 4.52%
    Under 20% 12 $500,000 $41,667 $803 6.44%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    First Technology Federal Credit Union Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    First Technology Federal Credit Union Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    First Technology Federal Credit Union Home equity loan or line of credit (HELOC) Trouble during payment process 1 14.3%
    First Technology Federal Credit Union Conventional home mortgage Trouble during payment process 4 57.1%