Aero Federal Credit Union Mortgage Rates, Fees & Info

Glendale, AZ

LEI: 54930072H82Z2RZW3210

Tax ID: 86-1039547

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Aero Federal Credit Union is a smaller credit union specializing in Other and Home Improvement loans. Aero Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Tucson, Prescott Valley, Albuquerque, and Show Low among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Aero Federal Credit Union 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.

    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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    Originations

    206

    Origination Dollar Volume (All Markets)

    $16,860,000

    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) 198 $16,350,000 $82,576 $461 6.77%
    TUCSON, AZ (FHA|USDA|VA) 3 $215,000 $71,667 $565 6.58%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 2 $120,000 $60,000 $396 9.75%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $65,000 $65,000 $1,367 6.50%
    Show Low, AZ (FHA|USDA|VA) 1 $65,000 $65,000 $546 6.50%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $45,000 $45,000 $311 6.75%
    Aero Federal Credit Union's top markets include Phoenix, Tucson, Prescott Valley, Albuquerque, and Show Low among others.

    Their top states include:
  • Arizona (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against AERO Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    First Credit Union
    Similarity Rank: 180
    Bankers Trust Company
    Similarity Rank: 380
    UNIVERSAL LENDING CORPORATION
    Similarity Rank: 504
    CREDIT UNION WEST
    Similarity Rank: 648
    OneAZ Credit Union
    Similarity Rank: 732
    ARIZONA CENTRAL
    Similarity Rank: 780
    VANTAGE WEST
    Similarity Rank: 850
    Canyon State Credit Union
    Similarity Rank: 990
    FirstBank
    Similarity Rank: 1140
    Shea Mortgage Inc.
    Similarity Rank: 1452

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 206 $16,860,000 $81,845 $466 6.79%

    For 2024, Aero Federal Credit Union's most frequently originated type of loan was Conventional, with 206 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 136 $11,080,000 $81,471 $455 6.92%
    Home Improvement 70 $5,780,000 $82,571 $488 6.54%

    For 2024, Aero Federal Credit Union's most frequently cited loan purpose was Other, with 136 originations. The 2nd most popular reason was Home Improvement, with 70 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 170 $14,860,000 $87,412 $474 6.80%
    5 Year 16 $760,000 $47,500 $417 6.83%
    Other 13 $815,000 $62,692 $435 6.69%
    10 Year 7 $425,000 $60,714 $434 6.75%

    For 2024, Aero Federal Credit Union's most frequently cited loan duration was 15 Year, with 170 originations. The 2nd most popular length was 5 Year, with 16 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 180 $15,230,000 $84,611
    7-8% 22 $1,340,000 $60,909
    Over 8% 4 $290,000 $72,500

    During 2024, Aero Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 180 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 144 $7,600,000 $52,778 $434 6.82%
    $100k-200k 48 $6,020,000 $125,417 $513 6.80%
    $200k-400k 14 $3,240,000 $231,429 $636 6.54%

    2024 saw Aero Federal Credit Union place emphasis on $100,000 or less loans with 144 originations, totaling $7,600,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 75 $8,075,000 $107,667 $485 6.72%
    $100k-150k 54 $3,340,000 $61,852 $463 6.96%
    $75k-100k 32 $1,650,000 $51,563 $431 6.86%
    $50k-75k 19 $955,000 $50,263 $408 6.75%
    $250k+ 18 $2,470,000 $137,222 $525 6.56%
    $50k or less 8 $370,000 $46,250 $459 6.75%

    Aero Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 75 originations. The second most popular income band? $100k-150k, with 54 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 64 $5,200,000 $81,250 $454 6.82%
    30-36% 46 $3,770,000 $81,957 $508 6.90%
    <20% 27 $2,405,000 $89,074 $516 6.52%
    40% 12 $1,100,000 $91,667 $467 6.65%
    37% 10 $530,000 $53,000 $416 6.65%
    39% 8 $620,000 $77,500 $421 6.91%
    42% 7 $545,000 $77,857 $436 6.75%
    38% 7 $425,000 $60,714 $425 6.75%
    36% 6 $770,000 $128,333 $442 6.63%
    44% 5 $495,000 $99,000 $462 6.70%
    41% 5 $365,000 $73,000 $378 7.10%
    45% 4 $280,000 $70,000 $442 8.13%
    43% 3 $235,000 $78,333 $356 6.50%
    47% 1 $45,000 $45,000 $311 6.50%
    46% 1 $75,000 $75,000 $495 6.50%

    Aero Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 64 originations. The next most common DTI ratio? 30-36%, with 46 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 194 $15,720,000 $81,031 $467 6.78%
    Asian 8 $750,000 $93,750 $484 6.69%
    Black 4 $390,000 $97,500 $402 7.69%

    Approval Rates

    Total approvals of all applications
    84.67%

    Aero Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.04%

    Aero Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 206 $16,860,000 $81,845

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    206 $16,860,000 $81,845

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 34 $5,160,000 $151,765 $559 6.60%
    40-60% 3 $665,000 $221,667 $600 6.50%
    Under 20% 169 $11,035,000 $65,296 $445 6.84%