Credit Union West Mortgage Rates, Fees & InfoGlendale, AZ
Tax ID: 86-0108241
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Review & OverviewCredit Union West is a smaller credit union specializing in Home Improvement, Cash Out Refi, and Refi loans. Credit Union West has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Prescott Valley, Flagstaff, Tucson, and Payson among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)
Credit Union West has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Credit Union West 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 about average rates.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.58%||3/19/23|
|30 Year Conventional Refi||6.52%||3/19/23|
|30 Year Cash-out Refi||6.68%||3/19/23|
|30 Year VA Refi||6.52%||3/19/23|
|15 Year Conventional Purchase||5.68%||3/19/23|
|15 Year Conventional Refi||6.04%||3/19/23|
|15 Year Cash-out Refi||6.04%||3/19/23|
|15 Year VA Refi||5.68%||3/19/23|
|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.|
Origination Dollar Volume (All Markets)$108,445,000
Credit Union West's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of 0.02%.
Relative Fees (Closing Costs)
Credit Union West's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,782.
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 $4,750.
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|
|PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA)||698||$88,170,000||$126,318||$1,604||4.83%|
|PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA)||103||$17,545,000||$170,340||$2,903||3.58%|
|FLAGSTAFF, AZ (FHA|USDA|VA)||5||$1,355,000||$271,000||$4,373||3.63%|
|TUCSON, AZ (FHA|USDA|VA)||13||$945,000||$72,692||$1,019||5.62%|
|Payson, AZ (FHA|USDA|VA)||1||$165,000||$165,000||$3,675||3.00%|
|Show Low, AZ (FHA|USDA|VA)||2||$110,000||$55,000||$277||4.38%|
|YUMA, AZ (FHA|USDA|VA)||2||$100,000||$50,000||$733||6.50%|
|Nogales, AZ (FHA|USDA|VA)||1||$55,000||$55,000||$781||6.25%|
We use machine learning to identify the top lenders compared against CREDIT UNION WEST based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Credit Union West's most frequently originated type of loan was Conventional, with 818 originations. Their 2nd most popular type was VA, with 7 originations.
For 2021, Credit Union West's most frequently cited loan purpose was Home Improvement, with 314 originations. The 2nd most popular reason was Other, with 207 originations.
For 2021, Credit Union West's most frequently cited loan duration was 30 Year, with 254 originations. The 2nd most popular length was 15 Year, with 236 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Credit Union West's average total fees were $3,782, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 485 originations.
During 2021, Credit Union West's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 3-4%, with 225 originations.
2021 saw Credit Union West place emphasis on $100,000 or less loans with 453 originations, totaling $23,875,000 in origination value.
Credit Union West lent most frequently to those with incomes in the $100k-150k range, with 250 originations. The second most popular income band? $50k-75k, with 165 originations.
Applicant Debt to Income Ratio
Credit Union West lent most frequently to those with DTI ratios of 20-30%, with 202 originations. The next most common DTI ratio? 30-36%, with 153 originations.
Approval RatesTotal approvals of all applications
Credit Union West has a below average approval rate.
Pick RateApprovals leading to origination
Credit Union West 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|
|Bank Name||Product||Issue||2021 CPFB Complaints||% of Total Issues|
|Credit Union Mortgage Association, Inc.||Conventional home mortgage||Trouble during payment process||1||100.0%|