Credit Union West Mortgage Rates, Fees & Info

Glendale, AZ

LEI: 54930065Z1DW0CWIZQ58

Tax ID: 86-0108241

5 stars - Updated: 11/3/24 - out of 5 stars, based on 25 reviews

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

Jump to:

Mortgage Data

Review & Overview

Credit Union West is a smaller credit union specializing in Other and Home Improvement loans. Credit Union West has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Prescott Valley, Tucson, Payson, and Montrose among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Credit Union West 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. Credit Union West 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.

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
Home Equity Line of Credit (HELOC) 6.27% 11/3/24
30 Year Conventional Purchase 6.70% 11/3/24
30 Year Conventional Refi 6.40% 11/3/24
30 Year Cash-out Refi 6.58% 11/3/24
30 Year VA Purchase 6.27% 11/3/24
30 Year VA Refi 6.27% 11/3/24
15 Year Conventional Purchase 7.04% 11/3/24
15 Year Conventional Refi 5.99% 11/3/24
15 Year Cash-out Refi 5.99% 11/3/24
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.

Credit Union West Mortgage Calculator






Your Estimates

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

This is not an official calculator from Credit Union West. 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

620

Origination Dollar Volume (All Markets)

$61,530,000

Awards

CREDIT UNION WEST 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Credit Union West's average 30 year fixed mortgage rate was 6.38%.

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

This yields a difference of -0.1%.

Relative Fees (Closing Costs)

Credit Union West's average total fees/closing costs for a 30 year fixed rate mortgage were $4,186.

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
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 501 $49,375,000 $98,553 $656 8.82%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 95 $9,135,000 $96,158 $1,187 8.55%
TUCSON, AZ (FHA|USDA|VA) 6 $650,000 $108,333 $1,742 8.42%
Payson, AZ (FHA|USDA|VA) 4 $610,000 $152,500 $6,103 7.09%
Montrose, CO (FHA|USDA|VA) 1 $395,000 $395,000 $5,074 5.88%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 3 $355,000 $118,333 $529 9.67%
Show Low, AZ (FHA|USDA|VA) 3 $315,000 $105,000 $2,667 8.38%
FLAGSTAFF, AZ (FHA|USDA|VA) 2 $270,000 $135,000 $1,256 8.88%
YUMA, AZ (FHA|USDA|VA) 3 $215,000 $71,667 $446 9.42%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $105,000 $105,000 $881 10.25%
Outside of Metro Areas 1 $105,000 $105,000 $4,854 6.88%
Credit Union West's top markets include Phoenix, Prescott Valley, Tucson, Payson, and Montrose among others.

Their top states include:
  • Arizona (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Similar Lenders

    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.

    CREDIT UNION WEST
    Similarity Rank: 814
    NEST HOME LENDING, LLC
    Similarity Rank: 871
    OneAZ Credit Union
    Similarity Rank: 1020
    Canyon State Credit Union
    Similarity Rank: 1020
    ARIZONA CENTRAL
    Similarity Rank: 1166
    Bank of Colorado
    Similarity Rank: 1196
    Bankers Trust Company
    Similarity Rank: 1296
    FISHER FINANCIAL GROUP, INCORPORATED
    Similarity Rank: 1560
    Shea Mortgage Inc.
    Similarity Rank: 2128
    LHM FINANCIAL CORPORATION
    Similarity Rank: 2241

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 382 $36,630,000 $95,890 $798 8.67%
    HELOC 237 $24,595,000 $103,776 n/a 8.93%
    VA 1 $305,000 $305,000 $5,128 7.13%

    For 2023, Credit Union West's most frequently originated type of loan was Conventional, with 382 originations. Their 2nd most popular type was HELOC, with 237 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 295 $25,245,000 $85,576 $460 9.04%
    Home Improvement 268 $23,620,000 $88,134 $406 8.81%
    Home Purchase 36 $8,970,000 $249,167 $4,079 6.88%
    Cash Out Refi 21 $3,695,000 $175,952 $1,998 7.50%

    For 2023, Credit Union West's most frequently cited loan purpose was Other, with 295 originations. The 2nd most popular reason was Home Improvement, with 268 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 324 $32,490,000 $100,278 $451 9.02%
    15 Year 130 $10,460,000 $80,462 $476 9.12%
    Other 87 $6,015,000 $69,138 $352 8.45%
    10 Year 39 $2,385,000 $61,154 $396 8.51%
    30 Year 38 $10,140,000 $266,842 $4,186 6.38%
    5 Year 2 $40,000 $20,000 $551 7.75%

    For 2023, Credit Union West's most frequently cited loan duration was 20 Year, with 324 originations. The 2nd most popular length was 15 Year, with 130 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 343 $26,865,000 $78,324
    $1k-2k 27 $7,545,000 $279,444
    $3k-4k 7 $1,595,000 $227,857
    $2k-3k 4 $550,000 $137,500
    $5k+ 1 $305,000 $305,000

    Credit Union West's average total fees were $4,186, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 343 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 458 $41,330,000 $90,240
    7-8% 115 $9,475,000 $82,391
    6-7% 30 $6,250,000 $208,333
    5-6% 17 $4,475,000 $263,235

    During 2023, Credit Union West's average interest rate for loans was 6.38%, while their most frequently originated rate bucket for loans was Over 8%, with 458 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 405 $22,235,000 $54,901 $404 8.95%
    $100k-200k 157 $21,165,000 $134,809 $1,183 8.60%
    $200k-400k 47 $12,385,000 $263,511 $2,733 8.25%
    $400k-600k 9 $4,165,000 $462,778 $4,156 6.38%
    $600k-1MM 2 $1,580,000 $790,000 $7,062 6.94%

    2023 saw Credit Union West place emphasis on $100,000 or less loans with 405 originations, totaling $22,235,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 177 $16,245,000 $91,780 $671 8.94%
    $150k-250k 147 $18,145,000 $123,435 $616 8.93%
    $50k-75k 99 $7,465,000 $75,404 $1,095 8.65%
    $75k-100k 91 $7,575,000 $83,242 $1,059 8.62%
    $50k or less 60 $4,070,000 $67,833 $1,071 8.45%
    $250k+ 46 $8,030,000 $174,565 $517 8.51%

    Credit Union West lent most frequently to those with incomes in the $100k-150k range, with 177 originations. The second most popular income band? $150k-250k, with 147 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 119 $11,575,000 $97,269 $1,107 8.48%
    30-36% 113 $11,325,000 $100,221 $824 8.71%
    <20% 41 $3,555,000 $86,707 $582 8.40%
    40% 41 $5,225,000 $127,439 $694 8.89%
    38% 32 $2,900,000 $90,625 $331 9.13%
    41% 30 $3,020,000 $100,667 $987 8.93%
    39% 28 $2,790,000 $99,643 $759 8.77%
    37% 26 $1,960,000 $75,385 $667 8.93%
    42% 25 $2,295,000 $91,800 $1,015 8.60%
    50-60% 25 $2,375,000 $95,000 $374 8.43%
    36% 22 $2,420,000 $110,000 $398 9.36%
    >60% 22 $2,070,000 $94,091 $406 9.16%
    43% 20 $2,370,000 $118,500 $853 9.15%
    44% 20 $1,930,000 $96,500 $391 9.24%
    45% 17 $1,235,000 $72,647 $358 9.22%
    46% 16 $1,300,000 $81,250 $600 9.21%
    47% 10 $1,180,000 $118,000 $729 8.17%
    48% 8 $1,020,000 $127,500 $2,684 8.03%
    49% 5 $985,000 $197,000 $2,713 8.55%

    Credit Union West lent most frequently to those with DTI ratios of 20-30%, with 119 originations. The next most common DTI ratio? 30-36%, with 113 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 510 $48,760,000 $95,608 $834 8.75%
    Not provided 65 $7,515,000 $115,615 $664 8.85%
    Black 25 $2,665,000 $106,600 $664 8.94%
    Asian 13 $1,935,000 $148,846 $1,085 8.72%
    American Indian 5 $345,000 $69,000 $110 8.55%
    Native Hawaiian or Islander 2 $310,000 $155,000 $434 9.13%

    Approval Rates

    Total approvals of all applications
    68.01%

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

    Pick Rate

    Approvals leading to origination
    66.77%

    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
    NA 620 $61,530,000 $99,242

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    620 $61,530,000 $99,242

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 136 $19,600,000 $144,118 $829 8.92%
    40-60% 25 $6,105,000 $244,200 $3,235 7.97%
    60-80% 14 $4,030,000 $287,857 $4,671 6.48%
    80-100% 11 $3,975,000 $361,364 $3,745 6.47%
    Under 20% 434 $27,820,000 $64,101 $373 8.89%