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

Review & Overview

Credit 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 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%	11/17/24
30 Year Conventional Purchase	6.70%	11/17/24
30 Year Conventional Refi	6.40%	11/17/24
30 Year Cash-out Refi	6.58%	11/17/24
30 Year VA Purchase	6.27%	11/17/24
30 Year VA Refi	6.27%	11/17/24
15 Year Conventional Purchase	7.04%	11/17/24
15 Year Conventional Refi	5.99%	11/17/24
15 Year Cash-out Refi	5.99%	11/17/24
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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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

825

Origination Dollar Volume (All Markets)

$108,445,000

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)	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%

Credit Union West's top markets include Phoenix, Prescott Valley, Flagstaff, Tucson, 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.

First Credit Union
Similarity Rank: 378

ARIZONA CENTRAL
Similarity Rank: 1166

AERO Federal Credit Union
Similarity Rank: 1428

LOANFLIGHT LENDING, LLC
Similarity Rank: 1950

PIMA Federal Credit Union
Similarity Rank: 2106

Western State Bank
Similarity Rank: 2520

OneAZ Credit Union
Similarity Rank: 3132

VANTAGE WEST
Similarity Rank: 3180

WINNPOINTE CORPORATION
Similarity Rank: 3266

Arizona Bank & Trust
Similarity Rank: 3430

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	818	$106,290,000	$129,939	$1,742	4.70%
VA	7	$2,155,000	$307,857	$5,076	2.80%

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.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Improvement	314	$23,900,000	$76,115	$668	5.75%
Other	207	$15,365,000	$74,227	$657	5.41%
Cash Out Refi	161	$37,265,000	$231,460	$3,792	3.19%
Refi	117	$24,085,000	$205,855	$3,230	2.92%
Home Purchase	26	$7,830,000	$301,154	$4,925	3.25%

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.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	254	$61,800,000	$243,307	$3,782	3.17%
15 Year	236	$20,760,000	$87,966	$1,053	5.49%
20 Year	189	$18,075,000	$95,635	$959	5.82%
Other	75	$3,515,000	$46,867	$435	4.27%
10 Year	65	$4,065,000	$62,538	$544	4.88%
5 Year	6	$230,000	$38,333	$275	4.17%

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
$<1k	485	$30,945,000	$63,804
$1k-2k	191	$43,525,000	$227,880
$2k-3k	89	$17,945,000	$201,629
$3k-4k	34	$8,170,000	$240,294
$5k+	14	$4,520,000	$322,857
$4k-5k	12	$3,340,000	$278,333

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.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	225	$43,345,000	$192,644
6-7%	223	$13,835,000	$62,040
2.5-3%	158	$32,550,000	$206,013
5-6%	66	$4,140,000	$62,727
4-5%	50	$3,280,000	$65,600
7-8%	44	$2,790,000	$63,409
<2.5%	39	$7,025,000	$180,128
Over 8%	20	$1,480,000	$74,000

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.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	453	$23,875,000	$52,704	$464	5.71%
$100k-200k	181	$26,715,000	$147,597	$2,645	3.70%
$200k-400k	161	$44,085,000	$273,820	$3,899	3.19%
$400k-600k	30	$13,770,000	$459,000	$4,827	3.12%

2021 saw Credit Union West place emphasis on $100,000 or less loans with 453 originations, totaling $23,875,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	250	$30,670,000	$122,680	$1,482	5.16%
$50k-75k	165	$22,225,000	$134,697	$2,374	4.08%
$75k-100k	160	$22,840,000	$142,750	$1,774	4.55%
$150k-250k	117	$16,325,000	$139,530	$1,200	5.57%
$50k or less	109	$12,495,000	$114,633	$2,317	3.64%
$250k+	21	$3,355,000	$159,762	$823	5.54%

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

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	202	$25,840,000	$127,921	$1,859	4.45%
30-36%	153	$20,145,000	$131,667	$1,824	4.77%
<20%	67	$8,575,000	$127,985	$2,030	3.76%
42%	52	$6,760,000	$130,000	$1,410	5.11%
41%	47	$6,165,000	$131,170	$1,534	5.22%
43%	44	$5,120,000	$116,364	$1,448	5.01%
36%	43	$7,325,000	$170,349	$2,335	4.40%
37%	35	$4,755,000	$135,857	$1,870	4.55%
44%	34	$3,720,000	$109,412	$1,418	4.87%
38%	34	$2,860,000	$84,118	$761	5.57%
39%	27	$3,825,000	$141,667	$1,850	4.84%
40%	23	$3,135,000	$136,304	$1,981	4.80%
45%	17	$2,325,000	$136,765	$1,282	5.78%
46%	15	$2,335,000	$155,667	$2,489	4.75%
47%	11	$1,645,000	$149,545	$1,952	4.26%
49%	8	$1,830,000	$228,750	$2,772	4.23%
48%	5	$945,000	$189,000	$2,285	4.55%
50-60%	5	$565,000	$113,000	$1,386	4.85%
>60%	1	$95,000	$95,000	$61	5.25%

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.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	633	$81,105,000	$128,128	$1,746	4.65%
Not provided	133	$19,175,000	$144,173	$2,007	4.67%
Black	30	$3,880,000	$129,333	$1,204	5.27%
Asian	14	$2,270,000	$162,143	$1,706	4.88%
American Indian	13	$1,555,000	$119,615	$1,819	4.74%
Filipino	1	$425,000	$425,000	$4,022	3.38%
Native Hawaiian or Islander	1	$35,000	$35,000	$623	7.25%

Approval Rates

Total approvals of all applications
77.11%

Credit Union West has a below average approval rate.

Pick Rate

Approvals leading to origination
49.82%

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	825	$108,445,000	$131,448

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	825	$108,445,000	$131,448

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	128	$13,780,000	$107,656	$1,438	4.89%
40-60%	134	$24,310,000	$181,418	$3,224	3.00%
60-80%	140	$39,330,000	$280,929	$3,894	3.22%
80-100%	33	$10,935,000	$331,364	$5,031	3.11%
Under 20%	390	$20,090,000	$51,513	$346	5.86%

Complaints

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%