Credit Union West Mortgage Rates, Fees & Info
Glendale, AZLEI: 54930065Z1DW0CWIZQ58
Tax ID: 86-0108241
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Mortgage Data
Review & Overview
Credit Union West is a smaller credit union specializing in Home Improvement, Refi, 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, Flagstaff, and Riverside 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 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 6.70% | 4/21/24 |
| 30 Year Conventional Refi | 6.40% | 4/21/24 |
| 30 Year Cash-out Refi | 6.58% | 4/21/24 |
| 30 Year VA Purchase | 6.27% | 4/21/24 |
| 30 Year VA Refi | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 7.04% | 4/21/24 |
| 15 Year Conventional Refi | 5.99% | 4/21/24 |
| 15 Year Cash-out Refi | 5.99% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
900Origination Dollar Volume (All Markets)
$114,100,000Top 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) | 781 | $93,505,000 | $119,725 | $1,550 | 5.26% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 93 | $17,795,000 | $191,344 | $3,186 | 3.68% |
| TUCSON, AZ (FHA|USDA|VA) | 13 | $865,000 | $66,538 | $600 | 6.26% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 4 | $680,000 | $170,000 | $3,486 | 2.94% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,026 | 3.38% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,294 | 3.50% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,611 | 3.25% |
| Safford, AZ (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $806 | 6.63% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $617 | 6.13% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,795 | 3.13% |
| Outside of Metro Areas | 1 | $25,000 | $25,000 | $1,011 | 3.75% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 891 | $111,835,000 | $125,516 | $1,698 | 5.11% |
| VA | 9 | $2,265,000 | $251,667 | $3,768 | 3.40% |
For 2020, Credit Union West's most frequently originated type of loan was Conventional, with 891 originations. Their 2nd most popular type was VA, with 9 originations.
Loan Reason
For 2020, Credit Union West's most frequently cited loan purpose was Home Improvement, with 413 originations. The 2nd most popular reason was Refi, with 176 originations.
Loan Duration/Length
For 2020, Credit Union West's most frequently cited loan duration was 15 Year, with 358 originations. The 2nd most popular length was 30 Year, with 261 originations.
Origination Fees/Closing Costs
Credit Union West's average total fees were $3,783, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 558 originations.
Interest Rates
During 2020, Credit Union West's average interest rate for loans was 3.39%, while their most frequently originated rate bucket for loans was 6-7%, with 303 originations.
Loan Sizing
2020 saw Credit Union West place emphasis on $100,000 or less loans with 507 originations, totaling $25,865,000 in origination value.
Applicant Income
Credit Union West lent most frequently to those with incomes in the $100k-150k range, with 288 originations. The second most popular income band? $150k-250k, with 185 originations.
Applicant Debt to Income Ratio
Credit Union West lent most frequently to those with DTI ratios of 20-30%, with 229 originations. The next most common DTI ratio? 30-36%, with 194 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications70.30%
Credit Union West has a below average approval rate.
Pick Rate
Approvals leading to origination39.44%
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 | 900 | $114,100,000 | $126,778 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 5 | $605,000 | $121,000 |
| Single Family (1-4 Units):Site-Built | 895 | $113,495,000 | $126,810 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Credit Plus Inc | Conventional home mortgage | Improper use of your report | 1 | 50.0% |
| Credit Plus Inc | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |