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 Refi and Home Purchase loans. First Financial Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Albuquerque, Santa Fe, Farmington, Gallup, and Silver City among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Financial Credit Union has an average approval rate when compared to the average across all lenders. They have an 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

    271

    Origination Dollar Volume (All Markets)

    $43,245,000

    Awards

    First Financial Credit Union 30 Year Conventional Loans gold First Financial Credit Union 30 Year Conventional Loans silver First Financial Credit Union 30 Year Conventional Loans bronze
    Show all (3) 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) 208 $35,080,000 $168,654 $1,974 3.35%
    SANTA FE, NM (FHA|USDA|VA) 10 $1,470,000 $147,000 $1,595 4.01%
    FARMINGTON, NM (FHA|USDA|VA) 10 $1,330,000 $133,000 $2,316 3.31%
    Gallup, NM (FHA|USDA|VA) 11 $1,285,000 $116,818 $2,231 3.36%
    Silver City, NM (FHA|USDA|VA) 8 $760,000 $95,000 $2,118 3.52%
    Portales, NM (FHA|USDA|VA) 6 $740,000 $123,333 $2,213 3.42%
    LAS CRUCES, NM (FHA|USDA|VA) 4 $640,000 $160,000 $2,259 3.81%
    Taos, NM (FHA|USDA|VA) 1 $515,000 $515,000 $1,868 2.63%
    Outside of Metro Areas 3 $425,000 $141,667 $1,714 3.71%
    Las Vegas, NM (FHA|USDA|VA) 2 $380,000 $190,000 $3,077 3.63%
    Ruidoso, NM (FHA|USDA|VA) 2 $300,000 $150,000 $1,409 3.25%
    Deming, NM (FHA|USDA|VA) 5 $285,000 $57,000 $2,350 2.88%
    Grants, NM (FHA|USDA|VA) 1 $35,000 $35,000 $1,631 2.63%
    First Financial Credit Union's top markets include Albuquerque, Santa Fe, Farmington, Gallup, and Silver City 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.

    RIO GRANDE
    Similarity Rank: 135
    SANDIA LABORATORY
    Similarity Rank: 168
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 299
    STATE EMPLOYEES
    Similarity Rank: 370
    First Financial Credit Union
    Similarity Rank: 429
    Del Norte Credit Union
    Similarity Rank: 549
    First American Bank
    Similarity Rank: 760
    SANDIA AREA
    Similarity Rank: 1341
    Kirtland Federal Credit Union
    Similarity Rank: 2133
    NUSENDA
    Similarity Rank: 2448

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 271 $43,245,000 $159,576 $2,003 3.38%

    For 2020, First Financial Credit Union's most frequently originated type of loan was Conventional, with 271 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 140 $21,810,000 $155,786 $2,046 3.01%
    Home Purchase 78 $14,850,000 $190,385 $2,015 3.78%
    Cash Out Refi 37 $4,495,000 $121,486 $1,832 3.95%
    Home Improvement 16 $2,090,000 $130,625 $1,965 3.30%

    For 2020, First Financial Credit Union's most frequently cited loan purpose was Refi, with 140 originations. The 2nd most popular reason was Home Purchase, with 78 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 137 $26,595,000 $194,124 $2,415 3.23%
    15 Year 110 $13,740,000 $124,909 $1,457 3.61%
    20 Year 15 $1,965,000 $131,000 $2,360 3.02%
    10 Year 8 $550,000 $68,750 $1,600 3.30%
    Other 1 $395,000 $395,000 $3,479 4.50%

    For 2020, First Financial Credit Union's most frequently cited loan duration was 30 Year, with 137 originations. The 2nd most popular length was 15 Year, with 110 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 266 $42,430,000 $159,511
    $1k-2k 5 $815,000 $163,000

    First Financial Credit Union's average total fees were $2,415, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 266 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 102 $16,550,000 $162,255
    2.5-3% 76 $13,430,000 $176,711
    <2.5% 49 $7,645,000 $156,020
    4-5% 26 $3,860,000 $148,462
    5-6% 13 $1,395,000 $107,308
    6-7% 4 $280,000 $70,000
    7-8% 1 $85,000 $85,000

    During 2020, First Financial Credit Union's average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 3-4%, with 102 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 131 $19,115,000 $145,916 $2,096 3.17%
    $100,000 or less 74 $4,610,000 $62,297 $1,391 3.83%
    $200k-400k 56 $14,400,000 $257,143 $2,315 3.22%
    $400k-600k 9 $4,075,000 $452,778 $3,358 3.56%
    $1MM+ 1 $1,045,000 $1,045,000 $5,480 4.00%

    2020 saw First Financial Credit Union place emphasis on $100k-200k loans with 131 originations, totaling $19,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 68 $9,340,000 $137,353 $2,112 3.22%
    $50k or less 48 $4,760,000 $99,167 $2,002 3.14%
    $75k-100k 47 $8,245,000 $175,426 $2,293 3.17%
    $100k-150k 40 $6,960,000 $174,000 $2,103 3.19%
    $150k-250k 39 $7,965,000 $204,231 $1,648 3.65%
    $250k+ 29 $5,975,000 $206,034 $1,618 4.35%

    First Financial Credit Union lent most frequently to those with incomes in the $50k-75k range, with 68 originations. The second most popular income band? $50k or less, with 48 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 75 $13,295,000 $177,267 $2,138 3.24%
    30-36% 50 $7,540,000 $150,800 $2,063 3.32%
    <20% 38 $4,790,000 $126,053 $2,074 3.02%
    43% 17 $2,805,000 $165,000 $1,721 3.79%
    41% 13 $1,555,000 $119,615 $1,607 3.35%
    42% 11 $2,145,000 $195,000 $2,354 3.26%
    38% 11 $1,995,000 $181,364 $1,902 3.49%
    44% 10 $1,270,000 $127,000 $1,839 3.64%
    47% 8 $1,160,000 $145,000 $1,734 4.06%
    36% 8 $1,050,000 $131,250 $1,520 4.06%
    39% 8 $1,010,000 $126,250 $1,571 3.45%
    37% 6 $850,000 $141,667 $2,154 3.10%
    40% 4 $710,000 $177,500 $1,924 3.00%
    46% 3 $775,000 $258,333 $2,259 5.54%
    45% 3 $1,335,000 $445,000 $3,334 3.46%
    48% 2 $290,000 $145,000 $2,169 2.63%
    50-60% 2 $80,000 $40,000 $260 5.50%
    49% 1 $405,000 $405,000 $2,034 2.88%
    >60% 1 $185,000 $185,000 $2,219 3.25%

    First Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 75 originations. The next most common DTI ratio? 30-36%, with 50 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 199 $32,085,000 $161,231 $2,055 3.39%
    Not provided 57 $9,025,000 $158,333 $1,852 3.27%
    American Indian 5 $765,000 $153,000 $2,209 3.48%
    Black 4 $700,000 $175,000 $2,181 4.44%
    Asian 6 $670,000 $111,667 $1,428 3.25%

    Approval Rates

    Total approvals of all applications
    89.29%

    First Financial Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.51%

    First Financial Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 271 $43,245,000 $159,576

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $405,000 $405,000
    Single Family (1-4 Units):Manufactured 13 $1,335,000 $102,692
    Single Family (1-4 Units):Site-Built 257 $41,505,000 $161,498

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $3,080,000 $96,250 $1,684 3.29%
    40-60% 32 $4,420,000 $138,125 $2,275 2.93%
    60-80% 92 $17,780,000 $193,261 $2,415 3.13%
    80-100% 66 $12,620,000 $191,212 $2,393 3.20%
    Under 20% 19 $1,235,000 $65,000 $588 4.34%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    First Technology Federal Credit Union Home equity loan or line of credit (HELOC) Closing on a mortgage 1 25.0%
    First Technology Federal Credit Union Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    First Technology Federal Credit Union Conventional home mortgage Incorrect information on your report 1 25.0%
    First Technology Federal Credit Union Conventional home mortgage Trouble during payment process 1 25.0%