First Credit Union Mortgage Rates, Fees & Info

Chandler, AZ

LEI: 54930082CRK7E43ZJ680

Tax ID: 86-0100904

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Refi and Home Purchase loans. First Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Tucson, Flagstaff, Prescott Valley, and Nogales among others. We have data for 8 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.

    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 6.64% 4/18/24
    30 Year Conventional Refi 6.56% 4/18/24
    30 Year Cash-out Refi 6.64% 4/18/24
    30 Year VA Purchase 5.56% 4/18/24
    15 Year Conventional Refi 6.97% 4/18/24
    15 Year Cash-out Refi 6.97% 4/18/24
    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.

    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

    132

    Origination Dollar Volume (All Markets)

    $19,630,000

    Awards

    First Credit Union 30 Year Conventional Loans gold
    Show all (1) awards

    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) 97 $15,055,000 $155,206 $2,006 5.36%
    TUCSON, AZ (FHA|USDA|VA) 22 $3,160,000 $143,636 $2,237 5.04%
    FLAGSTAFF, AZ (FHA|USDA|VA) 2 $420,000 $210,000 $3,054 4.81%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 3 $295,000 $98,333 $2,233 5.41%
    Nogales, AZ (FHA|USDA|VA) 4 $270,000 $67,500 $1,474 5.37%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $195,000 $195,000 $2,488 5.25%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 2 $130,000 $65,000 $2,979 5.87%
    Show Low, AZ (FHA|USDA|VA) 1 $105,000 $105,000 $3,566 4.88%
    First Credit Union's top markets include Phoenix, Tucson, Flagstaff, Prescott Valley, and Nogales 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.

    IAPPROVE LENDING
    Similarity Rank: 816
    LOGIX FEDERAL CREDIT UNION
    Similarity Rank: 1058
    CITIZENS EQUITY FIRST
    Similarity Rank: 1158
    First Credit Union
    Similarity Rank: 1176
    CREDIT UNION WEST
    Similarity Rank: 1314
    Canyon State Credit Union
    Similarity Rank: 1428
    ARIZONA
    Similarity Rank: 1539
    Arizona Bank & Trust
    Similarity Rank: 1635
    VANTAGE WEST
    Similarity Rank: 1743
    DEFINE MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 2004

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 130 $19,240,000 $148,000 $2,078 5.32%
    VA 2 $390,000 $195,000 $2,184 4.63%

    For 2018, First Credit Union's most frequently originated type of loan was Conventional, with 130 originations. Their 2nd most popular type was VA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 47 $7,765,000 $165,213 $2,155 4.87%
    Home Purchase 46 $10,360,000 $225,217 $3,578 4.75%
    Home Improvement 35 $1,295,000 $37,000 $174 6.42%
    Other 4 $210,000 $52,500 $174 7.05%

    For 2018, First Credit Union's most frequently cited loan purpose was Refi, with 47 originations. The 2nd most popular reason was Home Purchase, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 70 $15,070,000 $215,286 $3,078 4.82%
    15 Year 41 $3,315,000 $80,854 $1,094 5.62%
    10 Year 10 $410,000 $41,000 $365 6.24%
    20 Year 7 $765,000 $109,286 $1,275 6.56%
    5 Year 2 $40,000 $20,000 $174 5.87%
    Other 2 $30,000 $15,000 $174 6.37%

    For 2018, First Credit Union's most frequently cited loan duration was 30 Year, with 70 originations. The 2nd most popular length was 15 Year, with 41 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 117 $17,065,000 $145,855
    $1k-2k 9 $1,405,000 $156,111
    $2k-3k 2 $370,000 $185,000
    $3k-4k 2 $660,000 $330,000
    $4k-5k 1 $85,000 $85,000

    First Credit Union's average total fees were $3,078, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 117 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 60 $13,220,000 $220,333
    5-6% 40 $3,800,000 $95,000
    6-7% 18 $820,000 $45,556
    3-4% 9 $1,535,000 $170,556
    7-8% 5 $255,000 $51,000

    During 2018, First Credit Union's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 4-5%, with 60 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 57 $2,745,000 $48,158 $824 6.04%
    $100k-200k 40 $6,210,000 $155,250 $2,730 4.83%
    $200k-400k 31 $8,405,000 $271,129 $3,335 4.67%
    $400k-600k 3 $1,305,000 $435,000 $3,088 4.46%
    $600k-1MM 1 $965,000 $965,000 $4,479 4.88%

    2018 saw First Credit Union place emphasis on $100,000 or less loans with 57 originations, totaling $2,745,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 31 $4,185,000 $135,000 $1,946 5.40%
    $100k-150k 29 $5,625,000 $193,966 $2,746 4.96%
    $50k-75k 27 $3,125,000 $115,741 $1,759 5.41%
    $50k or less 21 $2,025,000 $96,429 $2,125 5.08%
    $150k-250k 20 $2,810,000 $140,500 $1,647 5.79%
    $250k+ 4 $1,860,000 $465,000 $2,555 5.15%

    First Credit Union lent most frequently to those with incomes in the $75k-100k range, with 31 originations. The second most popular income band? $100k-150k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 50 $3,670,000 $73,400 $840 6.02%
    30-36% 24 $4,370,000 $182,083 $2,742 4.96%
    20-30% 21 $4,325,000 $205,952 $3,066 4.48%
    40% 4 $1,560,000 $390,000 $3,770 4.94%
    37% 4 $680,000 $170,000 $2,427 5.31%
    41% 3 $425,000 $141,667 $2,141 4.63%
    36% 3 $425,000 $141,667 $1,461 5.46%
    39% 3 $615,000 $205,000 $3,030 4.54%
    42% 3 $585,000 $195,000 $1,818 5.66%
    48% 3 $455,000 $151,667 $3,040 4.96%
    44% 2 $320,000 $160,000 $3,540 4.88%
    38% 2 $490,000 $245,000 $3,725 5.44%
    45% 2 $320,000 $160,000 $2,448 5.13%
    43% 2 $630,000 $315,000 $3,605 4.75%
    46% 1 $65,000 $65,000 $2,089 4.50%
    47% 1 $165,000 $165,000 $4,229 4.50%
    49% 1 $145,000 $145,000 $2,099 4.00%

    First Credit Union lent most frequently to those with DTI ratios of <20%, with 50 originations. The next most common DTI ratio? 30-36%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 104 $14,570,000 $140,096 $1,948 5.34%
    Not provided 10 $2,160,000 $216,000 $2,156 5.37%
    American Indian 7 $1,095,000 $156,429 $3,587 4.68%
    Black 6 $710,000 $118,333 $1,587 5.52%
    Asian 3 $525,000 $175,000 $2,651 5.29%
    Native Hawaiian or Islander 1 $355,000 $355,000 $4,118 4.63%
    Chinese 1 $215,000 $215,000 $3,547 4.75%

    Approval Rates

    Total approvals of all applications
    74.47%

    First Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    69.70%

    First Credit Union 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 132 $19,630,000 $148,712

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 132 $19,630,000 $148,712

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $1,215,000 $81,000 $1,232 5.88%
    40-60% 17 $2,325,000 $136,765 $2,482 4.65%
    60-80% 35 $7,345,000 $209,857 $2,959 4.75%
    80-100% 30 $7,500,000 $250,000 $3,308 4.82%
    Under 20% 35 $1,245,000 $35,571 $264 6.35%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    First Technology Federal Credit Union Other type of mortgage Trouble during payment process 1 50.0%
    First Technology Federal Credit Union Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%