Desert Financial Federal Credit Union Mortgage Rates, Fees & Info
Phoenix, AZLEI: 549300HFXTV55C2HHM89
Tax ID: 86-0096740
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Overview
Desert Financial Federal Credit Union is a smaller credit union specializing in Home Improvement and Other loans. Desert Financial Federal Credit Union has a high proportion of conventional loans. Their top markets include Phoenix, Prescott Valley, Show Low, Flagstaff, and Payson among others. Desert Financial Federal Credit Union has a below average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.Originations
5,601Origination Dollar Volume (All Markets)
$552,345,000Relative Rate
Desert Financial Federal Credit Union's average 30 year fixed rate mortgage of loans were
3.15%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0%.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 5,465 | $538,735,000 | $98,579 | $0 | 3.15% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 44 | $4,470,000 | $101,591 | $0 | 3.14% |
| Show Low, AZ (FHA|USDA|VA) | 24 | $2,780,000 | $115,833 | $0 | 3.33% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 20 | $2,500,000 | $125,000 | $0 | 3.12% |
| Payson, AZ (FHA|USDA|VA) | 28 | $2,350,000 | $83,929 | $0 | 3.17% |
| TUCSON, AZ (FHA|USDA|VA) | 10 | $690,000 | $69,000 | $0 | 3.13% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 5 | $305,000 | $61,000 | $0 | 2.99% |
| Outside of Metro Areas | 2 | $260,000 | $130,000 | $0 | 2.99% |
| YUMA, AZ (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 3.75% |
| Safford, AZ (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 2.99% |
Desert Financial Federal Credit Union's top markets include Phoenix, Prescott Valley, Show Low, Flagstaff, and Payson among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 5,601 | $552,345,000 | $98,615 | $0 | 3.15% |
For the 2021 period, Desert Financial Federal Credit Union's most frequently originated loan type of loans were Conventional, with 5,601 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Improvement | 3,943 | $374,405,000 | $94,954 | $0 | 3.12% |
| Other | 1,206 | $111,840,000 | $92,736 | $0 | 3.08% |
| Refi | 434 | $63,810,000 | $147,028 | $0 | 3.63% |
| Home Purchase | 18 | $2,290,000 | $127,222 | $0 | 3.03% |
For the 2021, Desert Financial Federal Credit Union's most frequently cited loan purpose of loans were Home Improvement, with 3,943 originations. The 2nd most popular reason of loans were Other, with 1,206 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 5,600 | $552,240,000 | $98,614 | $0 | 3.15% |
| 20 Year | 1 | $105,000 | $105,000 | $0 | 4.13% |
For the 2021, Desert Financial Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 5,600 originations. The 2nd most popular length of loans were 20 Year, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 4,829 | $456,775,000 | $94,590 |
| 4-5% | 378 | $38,090,000 | $100,767 |
| 3-4% | 368 | $56,540,000 | $153,641 |
| 5-6% | 25 | $925,000 | $37,000 |
| 6-7% | 1 | $15,000 | $15,000 |
During 2021, Desert Financial Federal Credit Union's average interest rate of loans were 3.15%, while their most frequently originated rate bucket of loans were 2.5-3%, with 4,829 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 3,508 | $195,280,000 | $55,667 | $0 | 3.13% |
| $100k-200k | 1,511 | $192,855,000 | $127,634 | $0 | 3.16% |
| $200k-400k | 514 | $130,450,000 | $253,794 | $0 | 3.20% |
| $400k-600k | 64 | $30,040,000 | $469,375 | $0 | 3.23% |
| $600k-1MM | 3 | $2,215,000 | $738,333 | $0 | 3.46% |
| $1MM+ | 1 | $1,505,000 | $1,505,000 | $0 | 2.99% |
2021 saw Desert Financial Federal Credit Union place emphasis on $100,000 or less loans with 3,508 originations, totaling $195,280,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 1,571 | $152,965,000 | $97,368 | $0 | 3.13% |
| $150k-250k | 1,141 | $134,825,000 | $118,164 | $0 | 3.14% |
| $50k-75k | 1,067 | $88,595,000 | $83,032 | $0 | 3.15% |
| $75k-100k | 997 | $85,005,000 | $85,261 | $0 | 3.15% |
| $50k or less | 521 | $37,825,000 | $72,601 | $0 | 3.21% |
| $250k+ | 304 | $53,130,000 | $174,770 | $0 | 3.14% |
Desert Financial Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,571 originations. The second most popular income band? $150k-250k, with 1,141 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 1,536 | $144,700,000 | $94,206 | $0 | 3.15% |
| 30-36% | 1,063 | $101,475,000 | $95,461 | $0 | 3.16% |
| <20% | 848 | $85,290,000 | $100,578 | $0 | 3.14% |
| 46% | 245 | $24,435,000 | $99,735 | $0 | 3.14% |
| 43% | 188 | $17,630,000 | $93,777 | $0 | 3.14% |
| 41% | 178 | $17,920,000 | $100,674 | $0 | 3.11% |
| 39% | 172 | $17,880,000 | $103,953 | $0 | 3.15% |
| 36% | 169 | $15,905,000 | $94,112 | $0 | 3.18% |
| 44% | 167 | $17,925,000 | $107,335 | $0 | 3.14% |
| 47% | 165 | $17,325,000 | $105,000 | $0 | 3.12% |
| 40% | 163 | $14,085,000 | $86,411 | $0 | 3.16% |
| 37% | 163 | $15,385,000 | $94,387 | $0 | 3.15% |
| 38% | 149 | $14,265,000 | $95,738 | $0 | 3.11% |
| 45% | 142 | $14,740,000 | $103,803 | $0 | 3.12% |
| 42% | 136 | $14,460,000 | $106,324 | $0 | 3.15% |
| 48% | 43 | $6,125,000 | $142,442 | $0 | 3.05% |
| 50-60% | 41 | $7,575,000 | $184,756 | $0 | 3.18% |
| 49% | 28 | $4,390,000 | $156,786 | $0 | 3.23% |
| >60% | 4 | $780,000 | $195,000 | $0 | 2.99% |
Desert Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,536 originations. The next most common DTI ratio? 30-36%, with 1,063 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 4,822 | $476,970,000 | $98,915 | $0 | 3.15% |
| Black | 342 | $32,180,000 | $94,094 | $0 | 3.09% |
| Asian | 161 | $19,245,000 | $119,534 | $0 | 3.18% |
| Not provided | 192 | $16,660,000 | $86,771 | $0 | 3.19% |
| American Indian | 58 | $4,890,000 | $84,310 | $0 | 3.08% |
| Native Hawaiian | 26 | $2,400,000 | $92,308 | $0 | 3.10% |
Approval Rates
Total approvals of all applications67.33%
Desert Financial Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination76.25%
Desert Financial Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 5,601 | $552,345,000 | $98,615 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5,601 | $552,345,000 | $98,615 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 1,705 | $221,145,000 | $129,704 | $0 | 3.19% |
| 40-60% | 347 | $77,055,000 | $222,061 | $0 | 3.24% |
| 60-80% | 143 | $40,835,000 | $285,559 | $0 | 3.25% |
| 80-100% | 14 | $3,560,000 | $254,286 | $0 | 3.20% |
| Under 20% | 3,391 | $209,695,000 | $61,839 | $0 | 3.11% |
