Pima Federal Credit Union Mortgage Rates, Fees & Info

Tucson, AZ

LEI: 549300EZHVOHDWG07M20

Tax ID: 86-0124950

5 stars - Updated: 3/28/24 - out of 5 stars, based on 19 reviews

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

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Mortgage Data

Review & Overview

Pima Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Pima Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Tucson, Phoenix, Safford, Sierra Vista, and Nogales among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

Pima Federal 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. Pima Federal Credit Union is typically an average 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 relatively high 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 6.33% 3/28/24
30 Year Conventional Refi 6.40% 3/28/24
30 Year Cash-out Refi 6.44% 3/28/24
15 Year Conventional Purchase 5.87% 3/28/24
15 Year Conventional Refi 5.88% 3/28/24
15 Year Cash-out Refi 5.88% 3/28/24
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.

Pima 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 Pima 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

348

Origination Dollar Volume (All Markets)

$91,770,000

Awards

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

Relative Rate

Pima Federal Credit Union's average 30 year fixed mortgage rate was 5.74%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.74%.

Relative Fees (Closing Costs)

Pima Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,897.

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 $9,089.

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
TUCSON, AZ (FHA|USDA|VA) 304 $76,220,000 $250,724 $4,649 8.95%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 24 $11,200,000 $466,667 $5,234 8.27%
Safford, AZ (FHA|USDA|VA) 1 $1,155,000 $1,155,000 $0 5.88%
Outside of Metro Areas 9 $1,085,000 $120,556 $3,463 9.22%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 2 $660,000 $330,000 $3,320 7.69%
Nogales, AZ (FHA|USDA|VA) 3 $455,000 $151,667 $2,705 8.04%
Show Low, AZ (FHA|USDA|VA) 1 $335,000 $335,000 $5,103 6.00%
Payson, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $4,096 5.88%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $0 8.50%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $150,000 $75,000 $0 12.88%
Pima Federal Credit Union's top markets include Tucson, Phoenix, Safford, Sierra Vista, 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 PIMA Federal 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: 110
    CREDIT UNION WEST
    Similarity Rank: 814
    NEST HOME LENDING, LLC
    Similarity Rank: 871
    TruHome Solutions, LLC
    Similarity Rank: 962
    Canyon State Credit Union
    Similarity Rank: 1020
    ARIZONA CENTRAL
    Similarity Rank: 1166
    Bankers Trust Company
    Similarity Rank: 1296
    OneAZ Credit Union
    Similarity Rank: 1380
    FISHER FINANCIAL GROUP, INCORPORATED
    Similarity Rank: 1560
    Shea Mortgage Inc.
    Similarity Rank: 1729

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 259 $17,895,000 $69,093 n/a 9.89%
    Conventional 89 $73,875,000 $830,056 $4,553 5.97%

    For 2023, Pima Federal Credit Union's most frequently originated type of loan was HELOC, with 259 originations. Their 2nd most popular type was Conventional, with 89 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 155 $10,255,000 $66,161 $3,257 9.66%
    Other 80 $5,680,000 $71,000 $3,007 10.16%
    Home Purchase 62 $42,400,000 $683,871 $5,415 6.40%
    Cash Out Refi 44 $26,460,000 $601,364 $2,470 7.76%
    Refi 7 $6,975,000 $996,429 $2,287 6.29%

    For 2023, Pima Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 155 originations. The 2nd most popular reason was Other, with 80 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 210 $72,290,000 $344,238 $4,081 9.16%
    Other 106 $9,040,000 $85,283 $0 9.31%
    30 Year 29 $9,965,000 $343,621 $4,897 5.74%
    10 Year 2 $200,000 $100,000 $2,352 5.56%
    20 Year 1 $275,000 $275,000 $6,538 5.38%

    For 2023, Pima Federal Credit Union's most frequently cited loan duration was 15 Year, with 210 originations. The 2nd most popular length was Other, with 106 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 23 $6,555,000 $285,000
    $1k-2k 15 $4,495,000 $299,667
    $5k+ 4 $1,850,000 $462,500
    $3k-4k 3 $835,000 $278,333
    $2k-3k 2 $660,000 $330,000
    $4k-5k 1 $365,000 $365,000

    Pima Federal Credit Union's average total fees were $4,897, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 23 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 231 $14,965,000 $64,784
    5-6% 53 $47,015,000 $887,075
    6-7% 31 $23,395,000 $754,677
    7-8% 30 $4,390,000 $146,333
    4-5% 2 $1,320,000 $660,000
    3-4% 1 $685,000 $685,000

    During 2023, Pima Federal Credit Union's average interest rate for loans was 5.74%, while their most frequently originated rate bucket for loans was Over 8%, with 231 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 202 $9,970,000 $49,356 $2,607 10.06%
    $100k-200k 56 $6,830,000 $121,964 $3,249 8.74%
    $200k-400k 40 $11,000,000 $275,000 $4,801 6.78%
    $1MM+ 22 $45,300,000 $2,059,091 $0 6.07%
    $600k-1MM 18 $13,520,000 $751,111 $5,152 5.99%
    $400k-600k 10 $5,150,000 $515,000 $5,700 5.91%

    2023 saw Pima Federal Credit Union place emphasis on $100,000 or less loans with 202 originations, totaling $9,970,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 76 $8,910,000 $117,237 $4,388 9.40%
    $50k-75k 66 $4,640,000 $70,303 $3,067 9.71%
    $150k-250k 54 $9,830,000 $182,037 $5,960 8.51%
    $75k-100k 52 $4,570,000 $87,885 $4,696 9.56%
    $50k or less 44 $2,070,000 $47,045 $3,085 9.46%
    $250k+ 15 $2,635,000 $175,667 $3,881 7.53%

    Pima Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 76 originations. The second most popular income band? $50k-75k, with 66 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 63 $7,185,000 $114,048 $4,955 8.64%
    30-36% 48 $5,560,000 $115,833 $6,247 8.92%
    49% 24 $2,540,000 $105,833 $4,961 9.74%
    44% 19 $1,675,000 $88,158 $2,697 9.86%
    48% 16 $1,430,000 $89,375 $4,997 10.20%
    47% 16 $1,360,000 $85,000 $3,114 10.35%
    42% 16 $2,290,000 $143,125 $3,688 8.23%
    45% 15 $1,305,000 $87,000 $2,705 9.11%
    <20% 13 $1,505,000 $115,769 $4,172 8.15%
    40% 13 $2,005,000 $154,231 $6,601 9.02%
    43% 13 $1,085,000 $83,462 $3,315 8.87%
    36% 11 $1,265,000 $115,000 $2,321 10.94%
    46% 11 $765,000 $69,545 $0 9.86%
    39% 8 $480,000 $60,000 $0 9.81%
    41% 8 $980,000 $122,500 $0 9.50%
    38% 6 $270,000 $45,000 $0 11.29%
    37% 6 $930,000 $155,000 $4,229 8.71%
    50-60% 1 $25,000 $25,000 $0 8.75%

    Pima Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 63 originations. The next most common DTI ratio? 30-36%, with 48 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 40 $58,360,000 $1,459,000 $0 6.14%
    Not provided 243 $18,845,000 $77,551 $5,957 9.84%
    White 57 $12,795,000 $224,474 $4,289 7.04%
    American Indian 3 $765,000 $255,000 $6,605 7.08%
    Black 3 $575,000 $191,667 $5,790 7.25%
    Asian 1 $305,000 $305,000 $4,096 5.88%
    Asian Indian 1 $125,000 $125,000 $2,875 6.25%

    Approval Rates

    Total approvals of all applications
    86.91%

    Pima Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.76%

    Pima Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 348 $91,770,000 $263,707

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    348 $91,770,000 $263,707

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 76 $11,520,000 $151,579 $2,808 9.38%
    40-60% 26 $15,610,000 $600,385 $3,647 7.03%
    60-80% 51 $50,045,000 $981,275 $4,004 6.06%
    80-100% 15 $5,475,000 $365,000 $6,445 6.26%
    Under 20% 180 $9,120,000 $50,667 $2,639 9.97%