Aero Federal Credit Union Mortgage Rates, Fees & Info
Glendale, AZLEI: 54930072H82Z2RZW3210
Tax ID: 86-1039547
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Mortgage Data
Review & Overview
Aero Federal Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Aero Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Payson, Tucson, and Prescott Valley among others. We have data for 4 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.
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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.09% | 4/21/24 |
| 30 Year Cash-out Refi | 6.54% | 4/21/24 |
| 15 Year Conventional Purchase | 6.02% | 4/21/24 |
| 15 Year Conventional Refi | 7.01% | 4/21/24 |
| 15 Year Cash-out Refi | 7.01% | 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. | ||
Aero Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
62Origination Dollar Volume (All Markets)
$3,420,000Top 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) | 59 | $3,235,000 | $54,831 | $403 | 5.77% |
| Payson, AZ (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $525 | 5.00% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $280 | 5.00% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $675 | 5.50% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 62 | $3,420,000 | $55,161 | $407 | 5.74% |
For 2019, Aero Federal Credit Union's most frequently originated type of loan was Conventional, with 62 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 43 | $2,105,000 | $48,953 | $384 | 5.68% |
| Cash Out Refi | 13 | $805,000 | $61,923 | $434 | 6.00% |
| Refi | 6 | $510,000 | $85,000 | $514 | 5.58% |
For 2019, Aero Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 43 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.
Loan Duration/Length
For 2019, Aero Federal Credit Union's most frequently cited loan duration was 15 Year, with 51 originations. The 2nd most popular length was 10 Year, with 6 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 45 | $2,565,000 | $57,000 |
| 4-5% | 9 | $525,000 | $58,333 |
| 6-7% | 6 | $260,000 | $43,333 |
| Over 8% | 2 | $70,000 | $35,000 |
During 2019, Aero Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 45 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 52 | $2,280,000 | $43,846 | $391 | 5.80% |
| $100k-200k | 10 | $1,140,000 | $114,000 | $491 | 5.43% |
2019 saw Aero Federal Credit Union place emphasis on $100,000 or less loans with 52 originations, totaling $2,280,000 in origination value.
Applicant Income
Aero Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 17 originations. The second most popular income band? $100k-150k, with 16 originations.
Applicant Debt to Income Ratio
Aero Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? 30-36%, with 10 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 60 | $3,360,000 | $56,000 | $408 | 5.75% |
| Black | 2 | $60,000 | $30,000 | $365 | 5.25% |
Approval Rates
Total approvals of all applications89.86%
Aero Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 62 | $3,420,000 | $55,161 |