Pima Federal Credit Union Mortgage Rates, Fees & Info

Tucson, AZ

LEI: 549300EZHVOHDWG07M20

Tax ID: 86-0124950

5 stars - out of 5 stars, based on 22 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Pima Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Pima Federal Credit Union has a high proportion of conventional loans. Their top markets include Tucson, Phoenix, Nogales, Show Low, and Yuma among others. Pima Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Pima Federal Credit Union is typically a low fee lendor.


Originations

479

Origination Dollar Volume (All Markets)

$147,095,000

Awards

PIMA Federal Credit Union 30 Year Conventional Loans gold PIMA Federal Credit Union 30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

Pima Federal Credit Union's average 30 year fixed rate mortgage of loans were 3.06%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.09%.

Relative Fees

Pima Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $2,994.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
TUCSON, AZ (FHA|USDA|VA) 429 $131,045,000 $305,466 $2,639 2.98%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 21 $7,775,000 $370,238 $2,941 3.09%
Nogales, AZ (FHA|USDA|VA) 6 $4,330,000 $721,667 $2,540 3.17%
Outside of Metro Areas 14 $2,390,000 $170,714 $2,540 2.94%
Show Low, AZ (FHA|USDA|VA) 3 $605,000 $201,667 $3,287 3.17%
YUMA, AZ (FHA|USDA|VA) 3 $585,000 $195,000 $3,587 3.00%
Payson, AZ (FHA|USDA|VA) 1 $165,000 $165,000 $4,558 3.25%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $115,000 $115,000 $3,335 3.25%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $85,000 $85,000 $2,674 2.75%

Pima Federal Credit Union's top markets include Tucson, Phoenix, Nogales, Show Low, and Yuma among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 479 $147,095,000 $307,088 $2,666 2.99%

For the 2021 period, Pima Federal Credit Union's most frequently originated loan type of loans were Conventional, with 479 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 166 $52,910,000 $318,735 $2,506 3.03%
Refi 156 $24,550,000 $157,372 $2,168 2.81%
Home Purchase 111 $61,865,000 $557,342 $4,145 3.17%
Home Improvement 41 $7,275,000 $177,439 $2,255 3.05%
Other 5 $495,000 $99,000 $1,630 2.88%

For the 2021, Pima Federal Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 166 originations. The 2nd most popular reason of loans were Refi, with 156 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 223 $49,485,000 $221,906 $2,994 3.06%
15 Year 186 $86,850,000 $466,935 $2,272 3.03%
20 Year 42 $6,740,000 $160,476 $2,437 2.91%
10 Year 26 $3,910,000 $150,385 $2,280 2.27%
Other 2 $110,000 $55,000 $0 3.13%

For the 2021, Pima Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 223 originations. The 2nd most popular length of loans were 15 Year, with 186 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 269 $50,515,000 $187,788
$1k-2k 131 $23,915,000 $182,557
$2k-3k 13 $2,645,000 $203,462
$3k-4k 2 $340,000 $170,000

$2,994 of loans were Pima Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 269 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 202 $41,650,000 $206,188
3-4% 187 $90,905,000 $486,123
<2.5% 88 $12,990,000 $147,614
4-5% 2 $1,550,000 $775,000

During 2021, Pima Federal Credit Union's average interest rate of loans were 3.06%, while their most frequently originated rate bucket of loans were 2.5-3%, with 202 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 208 $30,160,000 $145,000 $2,440 2.83%
$200k-400k 121 $32,875,000 $271,694 $3,368 3.01%
$100,000 or less 74 $5,640,000 $76,216 $1,859 2.86%
$400k-600k 31 $15,185,000 $489,839 $3,885 3.47%
$600k-1MM 28 $20,410,000 $728,929 $4,156 3.47%
$1MM+ 17 $42,825,000 $2,519,118 $0 3.71%

2021 saw Pima Federal Credit Union place emphasis on $100k-200k loans with 208 originations, totaling $30,160,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 121 $14,645,000 $121,033 $2,452 2.93%
$50k-75k 97 $15,535,000 $160,155 $2,403 2.83%
$75k-100k 82 $15,720,000 $191,707 $2,639 2.88%
$100k-150k 70 $16,710,000 $238,714 $3,136 2.88%
$150k-250k 37 $11,495,000 $310,676 $2,941 2.83%
$250k+ 7 $2,935,000 $419,286 $4,276 2.73%

Pima Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 121 originations. The second most popular income band? $50k-75k, with 97 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 110 $21,020,000 $191,091 $2,813 2.87%
30-36% 93 $16,705,000 $179,624 $2,613 2.89%
<20% 52 $7,940,000 $152,692 $2,418 2.78%
43% 22 $5,080,000 $230,909 $2,857 2.99%
37% 18 $2,970,000 $165,000 $2,115 2.90%
42% 16 $3,680,000 $230,000 $2,797 2.95%
40% 15 $2,445,000 $163,000 $2,749 2.89%
41% 14 $2,700,000 $192,857 $2,681 2.85%
44% 14 $3,010,000 $215,000 $2,927 2.88%
39% 13 $2,685,000 $206,538 $2,745 2.96%
38% 10 $1,620,000 $162,000 $2,296 2.89%
36% 9 $1,765,000 $196,111 $3,138 2.72%
48% 7 $1,095,000 $156,429 $2,386 2.95%
46% 6 $1,230,000 $205,000 $2,746 2.69%
47% 6 $1,430,000 $238,333 $2,957 3.17%
45% 5 $985,000 $197,000 $2,616 2.78%
49% 4 $690,000 $172,500 $2,342 3.00%
>60% 1 $365,000 $365,000 $2,568 2.25%

Pima Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 110 originations. The next most common DTI ratio? 30-36%, with 93 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 62 $68,860,000 $1,110,645 $0 3.73%
White 349 $64,325,000 $184,312 $2,691 2.87%
Not provided 51 $9,605,000 $188,333 $2,279 2.92%
Asian 5 $1,715,000 $343,000 $3,117 2.55%
Black 6 $1,280,000 $213,333 $2,536 2.96%
Native Hawaiian 2 $580,000 $290,000 $3,987 3.38%
American Indian 3 $545,000 $181,667 $3,826 3.25%
Chinese 1 $185,000 $185,000 $5,438 2.00%

Approval Rates

Total approvals of all applications
78.60%

Pima Federal Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
69.58%

Pima Federal 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 479 $147,095,000 $307,088

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
479 $147,095,000 $307,088

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 64 $9,110,000 $142,344 $2,055 2.79%
40-60% 130 $27,000,000 $207,692 $2,325 2.82%
60-80% 218 $76,820,000 $352,385 $2,742 3.15%
80-100% 57 $16,765,000 $294,123 $3,903 3.01%
Over 100% 1 $16,475,000 $16,475,000 $0 3.88%
Under 20% 9 $925,000 $102,778 $2,071 2.64%