Credit Union West Mortgage Rates, Fees & Info

Glendale, AZ

LEI: 54930065Z1DW0CWIZQ58

Tax ID: 86-0108241

5 stars - Updated: 2/25/24 - out of 5 stars, based on 31 reviews

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

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Mortgage Data

Review & Overview

Credit Union West is a smaller credit union specializing in Home Improvement and Other loans. Credit Union West has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Prescott Valley, Tucson, Flagstaff, and Show Low among others. We have data for 10 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.

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% 2/25/24
30 Year Conventional Purchase 6.70% 2/25/24
30 Year Conventional Refi 6.40% 2/25/24
30 Year Cash-out Refi 6.58% 2/25/24
30 Year VA Purchase 6.27% 2/25/24
30 Year VA Refi 6.27% 2/25/24
15 Year Conventional Purchase 7.04% 2/25/24
15 Year Conventional Refi 5.99% 2/25/24
15 Year Cash-out Refi 5.99% 2/25/24
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

954

Origination Dollar Volume (All Markets)

$103,780,000

Relative Rate

Credit Union West's average 30 year fixed mortgage rate was 4.66%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

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 $5,332.

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.

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) 800 $86,330,000 $107,913 $1,253 6.02%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 131 $13,955,000 $106,527 $1,649 5.64%
TUCSON, AZ (FHA|USDA|VA) 10 $1,110,000 $111,000 $412 7.20%
FLAGSTAFF, AZ (FHA|USDA|VA) 2 $770,000 $385,000 $5,194 5.50%
Show Low, AZ (FHA|USDA|VA) 4 $570,000 $142,500 $860 4.81%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $290,000 $145,000 $186 6.25%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $265,000 $265,000 $11,367 5.25%
Payson, AZ (FHA|USDA|VA) 2 $230,000 $115,000 $1,442 4.38%
Quincy, IL-MO (FHA|USDA|VA) 1 $195,000 $195,000 $3,497 5.63%
Nogales, AZ (FHA|USDA|VA) 1 $65,000 $65,000 $440 7.00%
Credit Union West's top markets include Phoenix, Prescott Valley, Tucson, Flagstaff, and Show Low among others.

Their top states include:
  • Arizona (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Missouri (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.

    First Credit Union
    Similarity Rank: 210
    ARIZONA CENTRAL
    Similarity Rank: 1166
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1170
    UNITED SECURITY FINANCIAL CORP
    Similarity Rank: 1170
    PIMA Federal Credit Union
    Similarity Rank: 1404
    Western State Bank
    Similarity Rank: 1710
    ALL WESTERN MORTGAGE, INC.
    Similarity Rank: 2168
    AERO Federal Credit Union
    Similarity Rank: 2856
    Chicago Financial Services, Inc.
    Similarity Rank: 3131
    OneAZ Credit Union
    Similarity Rank: 3393

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 555 $58,995,000 $106,297 $1,304 6.10%
    HELOC 397 $44,355,000 $111,725 n/a 5.79%
    VA 2 $430,000 $215,000 $8,028 5.13%

    For 2022, Credit Union West's most frequently originated type of loan was Conventional, with 555 originations. Their 2nd most popular type was HELOC, with 397 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 442 $40,770,000 $92,240 $511 6.16%
    Other 388 $35,530,000 $91,572 $641 6.13%
    Cash Out Refi 75 $16,465,000 $219,533 $4,216 4.77%
    Home Purchase 41 $9,595,000 $234,024 $5,910 5.06%
    Refi 8 $1,420,000 $177,500 $3,177 3.34%

    For 2022, Credit Union West's most frequently cited loan purpose was Home Improvement, with 442 originations. The 2nd most popular reason was Other, with 388 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 460 $48,200,000 $104,783 $622 5.95%
    15 Year 205 $16,885,000 $82,366 $515 6.69%
    Other 138 $11,380,000 $82,464 $345 5.91%
    30 Year 95 $24,245,000 $255,211 $5,332 4.66%
    10 Year 52 $2,960,000 $56,923 $463 5.90%
    5 Year 4 $110,000 $27,500 $212 5.44%

    For 2022, Credit Union West's most frequently cited loan duration was 20 Year, with 460 originations. The 2nd most popular length was 15 Year, with 205 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 445 $31,925,000 $71,742
    $1k-2k 49 $11,865,000 $242,143
    $5k+ 20 $7,030,000 $351,500
    $2k-3k 19 $3,555,000 $187,105
    $3k-4k 12 $2,710,000 $225,833
    $4k-5k 12 $2,340,000 $195,000

    Credit Union West's average total fees were $5,332, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 445 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 245 $28,295,000 $115,490
    5-6% 208 $22,900,000 $110,096
    6-7% 203 $21,525,000 $106,034
    7-8% 113 $8,635,000 $76,416
    Over 8% 105 $9,565,000 $91,095
    3-4% 74 $12,010,000 $162,297
    2.5-3% 5 $795,000 $159,000
    <2.5% 1 $55,000 $55,000

    During 2022, Credit Union West's average interest rate for loans was 4.66%, while their most frequently originated rate bucket for loans was 4-5%, with 245 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 588 $32,610,000 $55,459 $433 6.15%
    $100k-200k 226 $30,220,000 $133,717 $1,595 5.94%
    $200k-400k 122 $32,660,000 $267,705 $4,654 5.28%
    $400k-600k 18 $8,290,000 $460,556 $7,529 4.96%

    2022 saw Credit Union West place emphasis on $100,000 or less loans with 588 originations, totaling $32,610,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 293 $27,755,000 $94,727 $1,041 6.35%
    $150k-250k 188 $24,680,000 $131,277 $946 6.12%
    $50k-75k 177 $16,205,000 $91,554 $1,664 5.50%
    $75k-100k 163 $16,835,000 $103,282 $1,612 5.92%
    $50k or less 77 $6,365,000 $82,662 $1,817 5.17%
    $250k+ 56 $11,940,000 $213,214 $1,290 6.15%

    Credit Union West lent most frequently to those with incomes in the $100k-150k range, with 293 originations. The second most popular income band? $150k-250k, with 188 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 203 $21,035,000 $103,621 $957 5.70%
    30-36% 201 $21,875,000 $108,831 $1,508 6.08%
    <20% 74 $7,790,000 $105,270 $1,677 5.33%
    40% 53 $5,735,000 $108,208 $1,053 6.27%
    43% 50 $5,550,000 $111,000 $1,555 5.92%
    42% 47 $6,165,000 $131,170 $2,278 5.95%
    41% 46 $4,550,000 $98,913 $621 6.05%
    38% 41 $4,185,000 $102,073 $607 6.26%
    36% 39 $3,815,000 $97,821 $631 6.32%
    37% 38 $3,900,000 $102,632 $1,278 6.22%
    39% 37 $4,685,000 $126,622 $766 6.35%
    44% 29 $3,325,000 $114,655 $1,413 6.41%
    50-60% 27 $2,465,000 $91,296 $1,075 6.35%
    45% 19 $1,675,000 $88,158 $526 6.46%
    46% 13 $1,265,000 $97,308 $1,699 5.59%
    >60% 13 $1,185,000 $91,154 $338 7.10%
    48% 9 $1,265,000 $140,556 $2,578 4.83%
    47% 8 $1,430,000 $178,750 $3,255 4.70%
    49% 7 $1,885,000 $269,286 $6,206 4.80%

    Credit Union West lent most frequently to those with DTI ratios of 20-30%, with 203 originations. The next most common DTI ratio? 30-36%, with 201 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 767 $79,895,000 $104,166 $1,171 5.99%
    Not provided 101 $13,875,000 $137,376 $2,062 5.99%
    Black 50 $5,690,000 $113,800 $1,671 5.91%
    Asian 27 $3,405,000 $126,111 $2,094 5.40%
    American Indian 8 $810,000 $101,250 $1,364 5.52%
    Other Asian 1 $105,000 $105,000 $388 5.25%

    Approval Rates

    Total approvals of all applications
    73.55%

    Credit Union West has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    64.47%

    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 954 $103,780,000 $108,784

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    954 $103,780,000 $108,784

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 206 $30,930,000 $150,146 $1,162 6.08%
    40-60% 51 $10,995,000 $215,588 $3,600 4.89%
    60-80% 51 $15,935,000 $312,451 $5,610 4.84%
    80-100% 20 $5,420,000 $271,000 $7,011 4.59%
    Under 20% 626 $40,500,000 $64,696 $378 6.15%