Aero Federal Credit Union Mortgage Rates, Fees & Info
Glendale, AZLEI: 54930072H82Z2RZW3210
Tax ID: 86-1039547
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
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, Prescott Valley, Tucson, and Show Low 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. They have an above 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.
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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.09% | 12/16/24 |
| 30 Year Cash-out Refi | 6.54% | 12/16/24 |
| 15 Year Conventional Purchase | 6.02% | 12/16/24 |
| 15 Year Conventional Refi | 7.01% | 12/16/24 |
| 15 Year Cash-out Refi | 7.01% | 12/16/24 |
| 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
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Aero Federal Credit Union. 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
75Origination Dollar Volume (All Markets)
$4,265,000Top 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) | 71 | $4,025,000 | $56,690 | $457 | 5.27% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $375 | 5.00% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $585 | 5.00% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $765 | 5.00% |
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.
Similarity Rank: 825
Similarity Rank: 1034
Similarity Rank: 1054
Similarity Rank: 1056
Similarity Rank: 1136
Similarity Rank: 1218
Similarity Rank: 2387
Similarity Rank: 2900
Similarity Rank: 3105
Similarity Rank: 3456
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 75 | $4,265,000 | $56,867 | $461 | 5.26% |
For 2020, Aero Federal Credit Union's most frequently originated type of loan was Conventional, with 75 originations.
Loan Reason
For 2020, Aero Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 51 originations. The 2nd most popular reason was Cash Out Refi, with 18 originations.
Loan Duration/Length
For 2020, Aero Federal Credit Union's most frequently cited loan duration was 15 Year, with 48 originations. The 2nd most popular length was 10 Year, with 18 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1 | $75,000 | $75,000 |
| $2k-3k | 1 | $165,000 | $165,000 |
Aero Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 47 | $2,555,000 | $54,362 |
| 5-6% | 16 | $780,000 | $48,750 |
| 6-7% | 8 | $610,000 | $76,250 |
| Over 8% | 2 | $80,000 | $40,000 |
| 2.5-3% | 1 | $75,000 | $75,000 |
| 3-4% | 1 | $165,000 | $165,000 |
During 2020, Aero Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 47 originations.
Loan Sizing
2020 saw Aero Federal Credit Union place emphasis on $100,000 or less loans with 67 originations, totaling $2,995,000 in origination value.
Applicant Income
Aero Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 22 originations. The second most popular income band? $150k-250k, with 19 originations.
Applicant Debt to Income Ratio
Aero Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 31 originations. The next most common DTI ratio? 30-36%, with 21 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.77%
Aero Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination97.33%
Aero Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 75 | $4,265,000 | $56,867 |