Credit Union West Mortgage Rates, Fees & Info

Glendale, AZ

LEI: 54930065Z1DW0CWIZQ58

Tax ID: 86-0108241

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

    Credit Union West is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Credit Union West has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Prescott Valley, Tucson, Yuma, and Payson among others. We have data for 6 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 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% 4/18/24
    30 Year Conventional Purchase 6.70% 4/18/24
    30 Year Conventional Refi 6.40% 4/18/24
    30 Year Cash-out Refi 6.58% 4/18/24
    30 Year VA Purchase 6.27% 4/18/24
    30 Year VA Refi 6.27% 4/18/24
    15 Year Conventional Purchase 7.04% 4/18/24
    15 Year Conventional Refi 5.99% 4/18/24
    15 Year Cash-out Refi 5.99% 4/18/24
    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

    700

    Origination Dollar Volume (All Markets)

    $52,170,000
    Show all (6) 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
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 627 $44,775,000 $71,411 $828 6.68%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 64 $6,750,000 $105,469 $1,727 5.21%
    Outside of Metro Areas 5 $245,000 $49,000 $235 7.20%
    TUCSON, AZ (FHA|USDA|VA) 1 $185,000 $185,000 $3,987 4.88%
    YUMA, AZ (FHA|USDA|VA) 2 $150,000 $75,000 $2,550 7.19%
    Payson, AZ (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.24%
    Credit Union West's top markets include Phoenix, Prescott Valley, Tucson, Yuma, and Payson among others.

    Their top states include:
  • Arizona (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.

    IAPPROVE LENDING
    Similarity Rank: 816
    LOGIX FEDERAL CREDIT UNION
    Similarity Rank: 1058
    VANTAGE WEST
    Similarity Rank: 1113
    First Credit Union
    Similarity Rank: 1176
    Canyon State Credit Union
    Similarity Rank: 1428
    CREDIT UNION WEST
    Similarity Rank: 1470
    ARIZONA
    Similarity Rank: 1539
    Arizona Bank & Trust
    Similarity Rank: 1635
    OneAZ Credit Union
    Similarity Rank: 1764
    DEFINE MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 2004

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 680 $47,780,000 $70,265 $794 6.61%
    VA 20 $4,390,000 $219,500 $4,874 4.29%

    For 2018, Credit Union West's most frequently originated type of loan was Conventional, with 680 originations. Their 2nd most popular type was VA, with 20 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 305 $14,235,000 $46,672 $236 7.22%
    Other 217 $9,495,000 $43,756 $264 7.09%
    Cash Out Refi 97 $15,405,000 $158,814 $2,766 4.79%
    Home Purchase 47 $9,105,000 $193,723 $4,031 4.70%
    Refi 34 $3,930,000 $115,588 $2,010 4.63%

    For 2018, Credit Union West's most frequently cited loan purpose was Home Improvement, with 305 originations. The 2nd most popular reason was Other, with 217 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 309 $18,015,000 $58,301 $479 7.83%
    Other 171 $6,535,000 $38,216 $246 5.01%
    30 Year 105 $20,445,000 $194,714 $3,402 4.82%
    10 Year 81 $3,925,000 $48,457 $482 7.14%
    20 Year 29 $3,075,000 $106,034 $1,436 6.89%
    5 Year 5 $175,000 $35,000 $278 4.35%

    For 2018, Credit Union West's most frequently cited loan duration was 15 Year, with 309 originations. The 2nd most popular length was Other, with 171 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 557 $27,485,000 $49,345
    $1k-2k 127 $21,395,000 $168,465
    $2k-3k 11 $2,295,000 $208,636
    $3k-4k 2 $700,000 $350,000
    $4k-5k 1 $155,000 $155,000

    Credit Union West's average total fees were $3,402, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 557 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 243 $24,765,000 $101,914
    7-8% 186 $8,980,000 $48,280
    Over 8% 167 $7,815,000 $46,796
    5-6% 63 $6,455,000 $102,460
    3-4% 22 $3,380,000 $153,636
    6-7% 19 $775,000 $40,789

    During 2018, Credit Union West's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 4-5%, with 243 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 537 $22,185,000 $41,313 $372 6.94%
    $100k-200k 118 $16,940,000 $143,559 $2,318 5.49%
    $200k-400k 40 $10,870,000 $271,750 $3,808 4.64%
    $400k-600k 5 $2,175,000 $435,000 $3,387 4.77%

    2018 saw Credit Union West place emphasis on $100,000 or less loans with 537 originations, totaling $22,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 206 $14,400,000 $69,903 $669 7.03%
    $50k-75k 141 $10,805,000 $76,631 $1,088 6.20%
    $75k-100k 138 $9,760,000 $70,725 $951 6.56%
    $50k or less 128 $9,470,000 $73,984 $1,392 5.63%
    $150k-250k 81 $7,055,000 $87,099 $452 7.34%
    $250k+ 6 $680,000 $113,333 $556 6.88%

    Credit Union West lent most frequently to those with incomes in the $100k-150k range, with 206 originations. The second most popular income band? $50k-75k, with 141 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 152 $10,460,000 $68,816 $918 6.21%
    30-36% 149 $10,125,000 $67,953 $839 6.47%
    42% 41 $3,225,000 $78,659 $884 7.26%
    <20% 39 $2,535,000 $65,000 $1,013 5.28%
    43% 38 $2,350,000 $61,842 $515 7.48%
    37% 34 $2,120,000 $62,353 $780 6.69%
    38% 32 $2,760,000 $86,250 $944 6.53%
    40% 31 $2,825,000 $91,129 $1,046 6.53%
    41% 29 $1,565,000 $53,966 $457 7.56%
    45% 27 $3,145,000 $116,481 $1,054 6.68%
    39% 26 $2,020,000 $77,692 $666 7.32%
    44% 22 $1,350,000 $61,364 $766 6.56%
    36% 19 $1,665,000 $87,632 $807 6.73%
    46% 17 $1,645,000 $96,765 $1,521 6.11%
    47% 16 $1,400,000 $87,500 $1,257 6.62%
    48% 12 $810,000 $67,500 $1,224 7.05%
    49% 8 $980,000 $122,500 $1,627 6.19%
    50-60% 7 $1,165,000 $166,429 $4,098 5.50%
    >60% 1 $25,000 $25,000 $209 4.50%

    Credit Union West lent most frequently to those with DTI ratios of 20-30%, with 152 originations. The next most common DTI ratio? 30-36%, with 149 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 565 $40,675,000 $71,991 $879 6.63%
    Not provided 78 $6,860,000 $87,949 $1,098 6.37%
    Black 32 $2,690,000 $84,063 $1,353 5.72%
    Asian 15 $1,465,000 $97,667 $748 6.02%
    American Indian 4 $260,000 $65,000 $247 8.06%
    Filipino 4 $130,000 $32,500 $222 6.50%
    Native Hawaiian or Islander 2 $90,000 $45,000 $218 5.50%

    Approval Rates

    Total approvals of all applications
    65.31%

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

    Pick Rate

    Approvals leading to origination
    62.57%

    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 700 $52,170,000 $74,529

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $530,000 $66,250
    Single Family (1-4 Units):Site-Built 692 $51,640,000 $74,624

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 114 $8,550,000 $75,000 $672 6.78%
    40-60% 40 $4,890,000 $122,250 $2,159 5.10%
    60-80% 75 $14,275,000 $190,333 $3,029 4.80%
    80-100% 37 $8,135,000 $219,865 $3,714 4.64%
    Over 100% 2 $550,000 $275,000 $7,054 4.06%
    Under 20% 432 $15,770,000 $36,505 $238 7.10%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Credit Union Mortgage Association, Inc. Conventional home mortgage Closing on a mortgage 1 50.0%
    Credit Union Mortgage Association, Inc. Conventional home mortgage Trouble during payment process 1 50.0%