First Credit Union Mortgage Rates, Fees & Info

Chandler, AZ

LEI: 54930082CRK7E43ZJ680

Tax ID: 86-0100904

5 stars - Updated: 4/5/25 - out of 5 stars, based on 8 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    First Credit Union is a smaller credit union specializing in Home Purchase loans. First Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Tucson, Flagstaff, Nogales, and Payson among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First 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. First Credit Union 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.69% 4/5/25
    30 Year Conventional Refi 5.85% 4/5/25
    30 Year Cash-out Refi 6.55% 4/5/25
    30 Year FHA Refi 6.72% 4/5/25
    15 Year Conventional Purchase 5.64% 4/5/25
    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.

    First Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from First 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

    62

    Origination Dollar Volume (All Markets)

    $9,750,000

    Awards

    First Credit Union 30 Year Conventional Loans gold First Credit Union 30 Year Conventional Loans gold First Credit Union 30 Year Conventional Loans silver
    Show all (3) awards

    Relative Rate

    First Credit Union's average 30 year fixed mortgage rate was 6.33%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.22%.

    Relative Fees (Closing Costs)

    First Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,530.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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) 49 $7,765,000 $158,469 $1,851 7.05%
    TUCSON, AZ (FHA|USDA|VA) 5 $845,000 $169,000 $2,639 6.85%
    FLAGSTAFF, AZ (FHA|USDA|VA) 2 $400,000 $200,000 $5,032 7.56%
    Nogales, AZ (FHA|USDA|VA) 3 $335,000 $111,667 $2,224 6.96%
    Payson, AZ (FHA|USDA|VA) 2 $240,000 $120,000 $2,054 7.81%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $165,000 $165,000 $5,562 6.38%
    First Credit Union's top markets include Phoenix, Tucson, Flagstaff, Nogales, 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 First 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
    PIMA Federal Credit Union
    Similarity Rank: 440
    UNIVERSAL LENDING CORPORATION
    Similarity Rank: 504
    CREDIT UNION WEST
    Similarity Rank: 648
    ARIZONA CENTRAL
    Similarity Rank: 780
    Canyon State Credit Union
    Similarity Rank: 990
    FirstBank
    Similarity Rank: 1140
    OneAZ Credit Union
    Similarity Rank: 1284
    VANTAGE WEST
    Similarity Rank: 1326

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 62 $9,750,000 $157,258 $2,101 7.06%

    For 2024, First 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 32 $1,680,000 $52,500 $0 7.78%
    Home Purchase 20 $6,480,000 $324,000 $5,154 6.26%
    Cash Out Refi 9 $1,385,000 $153,889 $2,717 6.47%
    Refi 1 $205,000 $205,000 $2,748 5.38%

    For 2024, First Credit Union's most frequently cited loan purpose was Home Improvement, with 32 originations. The 2nd most popular reason was Home Purchase, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 26 $7,290,000 $280,385 $4,530 6.33%
    15 Year 21 $1,955,000 $93,095 $596 7.46%
    10 Year 6 $190,000 $31,667 $0 7.75%
    Other 6 $180,000 $30,000 $0 7.71%
    5 Year 3 $135,000 $45,000 $0 7.92%

    For 2024, First Credit Union's most frequently cited loan duration was 30 Year, with 26 originations. The 2nd most popular length was 15 Year, with 21 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 33 $1,785,000 $54,091
    $1k-2k 24 $6,350,000 $264,583
    $3k-4k 2 $590,000 $295,000
    $5k+ 2 $680,000 $340,000
    $2k-3k 1 $345,000 $345,000

    First Credit Union's average total fees were $4,530, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 33 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 30 $2,210,000 $73,667
    6-7% 19 $4,655,000 $245,000
    5-6% 8 $2,230,000 $278,750
    Over 8% 4 $190,000 $47,500
    4-5% 1 $465,000 $465,000

    During 2024, First Credit Union's average interest rate for loans was 6.33%, while their most frequently originated rate bucket for loans was 7-8%, with 30 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 29 $1,295,000 $44,655 $97 7.75%
    $100k-200k 15 $2,145,000 $143,000 $2,336 6.70%
    $200k-400k 13 $3,785,000 $291,154 $5,072 6.47%
    $400k-600k 4 $1,840,000 $460,000 $5,464 5.56%
    $600k-1MM 1 $685,000 $685,000 $4,628 6.25%

    2024 saw First Credit Union place emphasis on $100,000 or less loans with 29 originations, totaling $1,295,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 20 $3,510,000 $175,500 $1,822 7.03%
    $75k-100k 17 $2,315,000 $136,176 $2,642 6.94%
    $50k-75k 10 $1,020,000 $102,000 $1,232 7.30%
    $150k-250k 6 $1,680,000 $280,000 $3,739 7.19%
    $50k or less 6 $450,000 $75,000 $941 7.38%
    $250k+ 3 $775,000 $258,333 $2,847 6.29%

    First Credit Union lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $75k-100k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 23 $3,485,000 $151,522 $1,854 7.22%
    <20% 14 $1,690,000 $120,714 $1,687 6.91%
    30-36% 10 $2,030,000 $203,000 $3,388 6.51%
    41% 4 $630,000 $157,500 $1,969 7.16%
    38% 4 $230,000 $57,500 $0 8.00%
    39% 3 $515,000 $171,667 $3,355 7.63%
    40% 2 $450,000 $225,000 $3,787 6.19%
    36% 1 $685,000 $685,000 $4,628 6.25%
    37% 1 $35,000 $35,000 $0 7.75%

    First Credit Union lent most frequently to those with DTI ratios of 20-30%, with 23 originations. The next most common DTI ratio? <20%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 26 $6,620,000 $254,615 $4,060 6.40%
    White 30 $2,050,000 $68,333 $292 7.73%
    Black 3 $495,000 $165,000 $3,432 6.71%
    Asian Indian 1 $465,000 $465,000 $5,679 4.88%
    Asian 2 $120,000 $60,000 $0 7.38%

    Approval Rates

    Total approvals of all applications
    80.85%

    First Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    79.03%

    First Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 62 $9,750,000 $157,258

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    62 $9,750,000 $157,258

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $1,325,000 $147,222 $1,772 6.86%
    40-60% 6 $1,110,000 $185,000 $4,355 6.17%
    60-80% 12 $3,750,000 $312,500 $4,657 6.28%
    80-100% 5 $2,055,000 $411,000 $5,893 6.35%
    Under 20% 30 $1,510,000 $50,333 $95 7.73%