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 Home Improvement, Cash Out Refi, and Home Purchase loans. First Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Tucson, Nogales, Lake Havasu City, and Flagstaff among others. We have data for 5 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 6.64% 4/21/24
    30 Year Conventional Refi 6.56% 4/21/24
    30 Year Cash-out Refi 6.64% 4/21/24
    30 Year VA Purchase 5.56% 4/21/24
    15 Year Conventional Refi 6.97% 4/21/24
    15 Year Cash-out Refi 6.97% 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.

    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

    117

    Origination Dollar Volume (All Markets)

    $18,115,000

    Awards

    First Credit Union 30 Year Conventional Loans gold First Credit Union 30 Year Conventional Loans bronze First Credit Union 30 Year Conventional Loans silver
    Show all (3) 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) 99 $15,785,000 $159,444 $1,407 4.72%
    TUCSON, AZ (FHA|USDA|VA) 12 $1,800,000 $150,000 $2,136 4.51%
    Nogales, AZ (FHA|USDA|VA) 4 $330,000 $82,500 $767 4.84%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $185,000 $185,000 $3,035 3.25%
    FLAGSTAFF, AZ (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.75%
    First Credit Union's top markets include Phoenix, Tucson, Nogales, Lake Havasu City, and Flagstaff 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.

    PIMA Federal Credit Union
    Similarity Rank: 252
    First Credit Union
    Similarity Rank: 450
    AERO Federal Credit Union
    Similarity Rank: 894
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 1598
    THE ANDERSON FINANCIAL GROUP, INC.
    Similarity Rank: 1768
    DEFINE MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 2255
    OneAZ Credit Union
    Similarity Rank: 2275
    ARIZONA CENTRAL
    Similarity Rank: 2354
    CREDIT UNION WEST
    Similarity Rank: 2440
    SUBURBAN MORTGAGE, INC.
    Similarity Rank: 2600

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 116 $17,890,000 $154,224 $1,430 4.69%
    VA 1 $225,000 $225,000 $5,108 4.75%

    For 2022, First Credit Union's most frequently originated type of loan was Conventional, with 116 originations. Their 2nd most popular type was VA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 62 $4,000,000 $64,516 $73 5.20%
    Cash Out Refi 27 $6,305,000 $233,519 $2,374 3.85%
    Home Purchase 18 $6,600,000 $366,667 $4,827 4.75%
    Refi 10 $1,210,000 $121,000 $1,551 3.73%

    For 2022, First Credit Union's most frequently cited loan purpose was Home Improvement, with 62 originations. The 2nd most popular reason was Cash Out Refi, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 46 $3,520,000 $76,522 $248 5.06%
    30 Year 45 $12,635,000 $280,778 $3,335 4.21%
    10 Year 12 $620,000 $51,667 $50 5.04%
    5 Year 5 $175,000 $35,000 $120 5.00%
    Other 5 $335,000 $67,000 $120 5.15%
    20 Year 3 $815,000 $271,667 $2,464 3.58%
    3 Year 1 $15,000 $15,000 $300 4.75%

    For 2022, First Credit Union's most frequently cited loan duration was 15 Year, with 46 originations. The 2nd most popular length was 30 Year, with 45 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 80 $6,800,000 $85,000
    $1k-2k 32 $9,680,000 $302,500
    $2k-3k 3 $1,045,000 $348,333
    $3k-4k 1 $295,000 $295,000
    $5k+ 1 $295,000 $295,000

    First Credit Union's average total fees were $3,335, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 80 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 43 $5,645,000 $131,279
    5-6% 32 $3,540,000 $110,625
    3-4% 26 $6,950,000 $267,308
    6-7% 9 $1,105,000 $122,778
    2.5-3% 7 $875,000 $125,000

    During 2022, First Credit Union's average interest rate for loans was 4.21%, while their most frequently originated rate bucket for loans was 4-5%, with 43 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 53 $2,485,000 $46,887 $103 5.18%
    $100k-200k 31 $4,255,000 $137,258 $1,501 4.01%
    $200k-400k 23 $6,115,000 $265,870 $3,341 4.66%
    $400k-600k 8 $3,980,000 $497,500 $4,115 4.38%
    $600k-1MM 2 $1,280,000 $640,000 $4,635 4.19%

    2022 saw First Credit Union place emphasis on $100,000 or less loans with 53 originations, totaling $2,485,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 34 $4,200,000 $123,529 $1,080 4.84%
    $75k-100k 24 $3,100,000 $129,167 $1,054 5.06%
    $50k or less 21 $2,955,000 $140,714 $1,803 4.29%
    $50k-75k 20 $3,460,000 $173,000 $1,961 4.31%
    $150k-250k 13 $2,765,000 $212,692 $1,838 4.71%
    $250k+ 5 $1,635,000 $327,000 $1,607 5.13%

    First Credit Union lent most frequently to those with incomes in the $100k-150k range, with 34 originations. The second most popular income band? $75k-100k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 38 $6,140,000 $161,579 $1,561 4.66%
    <20% 21 $2,055,000 $97,857 $932 4.64%
    30-36% 19 $3,875,000 $203,947 $1,654 5.01%
    42% 9 $675,000 $75,000 $417 5.01%
    41% 9 $1,555,000 $172,778 $1,578 4.28%
    40% 5 $1,385,000 $277,000 $2,350 4.43%
    39% 4 $640,000 $160,000 $1,678 4.25%
    43% 4 $310,000 $77,500 $75 5.31%
    38% 2 $180,000 $90,000 $1,510 4.38%
    36% 1 $215,000 $215,000 $2,105 3.13%
    47% 1 $225,000 $225,000 $2,119 4.13%
    37% 1 $35,000 $35,000 $0 4.75%
    45% 1 $295,000 $295,000 $7,770 5.00%
    46% 1 $225,000 $225,000 $5,108 4.75%
    44% 1 $305,000 $305,000 $3,845 4.88%

    First Credit Union lent most frequently to those with DTI ratios of 20-30%, with 38 originations. The next most common DTI ratio? <20%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 47 $10,405,000 $221,383 $2,527 4.50%
    White 57 $5,325,000 $93,421 $529 4.89%
    Asian 6 $1,430,000 $238,333 $2,233 4.52%
    Black 3 $765,000 $255,000 $1,928 4.38%
    American Indian 4 $190,000 $47,500 $724 4.63%

    Approval Rates

    Total approvals of all applications
    86.96%

    First Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.34%

    First Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 117 $18,115,000 $154,829

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    117 $18,115,000 $154,829

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $2,715,000 $142,895 $1,417 3.77%
    40-60% 16 $4,400,000 $275,000 $2,763 4.02%
    60-80% 16 $4,970,000 $310,625 $3,708 4.30%
    80-100% 8 $2,770,000 $346,250 $4,469 5.02%
    Under 20% 58 $3,260,000 $56,207 $83 5.25%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST GUARANTY MORTGAGE CORP Conventional home mortgage Struggling to pay mortgage 1 100.0%