Desert Financial Federal Credit Union Mortgage Rates, Fees & Info

Phoenix, AZ

LEI: 549300HFXTV55C2HHM89

Tax ID: 86-0096740

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Desert Financial Federal Credit Union is a small credit union specializing in Home Improvement and Home Purchase loans. Desert Financial Federal Credit Union has a low ratio of conventional loans.Their top markets by origination volume include: Phoenix, Prescott Valley, Payson, Flagstaff, and Tucson among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Desert Financial Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. 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
    Home Equity Line of Credit (HELOC) 7.03% 3/28/23
    30 Year Conventional Purchase 6.27% 3/28/23
    30 Year Conventional Refi 6.27% 3/28/23
    30 Year Cash-out Refi 6.27% 3/28/23
    15 Year Conventional Purchase 5.68% 3/28/23
    15 Year Conventional Refi 5.68% 3/28/23
    15 Year Cash-out Refi 5.68% 3/28/23
    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.


    Originations

    9,071

    Origination Dollar Volume (All Markets)

    $1,040,285,000

    Relative Rate

    Desert Financial Federal Credit Union's average 30 year fixed mortgage rate was 5.72%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.96%.

    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) 8,750 $1,000,830,000 $114,381 $0 5.71%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 126 $16,760,000 $133,016 $0 5.92%
    Payson, AZ (FHA|USDA|VA) 55 $5,495,000 $99,909 $0 5.87%
    FLAGSTAFF, AZ (FHA|USDA|VA) 35 $4,835,000 $138,143 $0 6.01%
    TUCSON, AZ (FHA|USDA|VA) 31 $4,285,000 $138,226 $0 6.13%
    Show Low, AZ (FHA|USDA|VA) 38 $4,000,000 $105,263 $0 5.43%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 18 $1,930,000 $107,222 $0 5.81%
    YUMA, AZ (FHA|USDA|VA) 7 $955,000 $136,429 $0 6.52%
    Safford, AZ (FHA|USDA|VA) 3 $755,000 $251,667 $0 6.03%
    Outside of Metro Areas 6 $320,000 $53,333 $0 5.79%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.50%
    Nogales, AZ (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.13%
    Desert Financial Federal Credit Union's top markets include Phoenix, Prescott Valley, Payson, Flagstaff, and Tucson among others.

    Their top states include:
  • Arizona (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against DESERT FINANCIAL FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    First Credit Union
    Similarity Rank: 210
    ARIZONA CENTRAL
    Similarity Rank: 1166
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1170
    UNITED SECURITY FINANCIAL CORP
    Similarity Rank: 1170
    PIMA Federal Credit Union
    Similarity Rank: 1404
    Western State Bank
    Similarity Rank: 1710
    ALL WESTERN MORTGAGE, INC.
    Similarity Rank: 2168
    OneAZ Credit Union
    Similarity Rank: 2574
    AERO Federal Credit Union
    Similarity Rank: 2856
    Chicago Financial Services, Inc.
    Similarity Rank: 3131

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 9,059 $1,031,895,000 $113,908 n/a 5.72%
    Conventional 12 $8,390,000 $699,167 $0 5.20%

    For 2022, Desert Financial Federal Credit Union's most frequently originated type of loan was HELOC, with 9,059 originations. Their 2nd most popular type was Conventional, with 12 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 5,788 $650,040,000 $112,308 $0 5.67%
    Home Purchase 2,849 $333,905,000 $117,201 $0 5.88%
    Other 232 $22,580,000 $97,328 $0 4.57%
    Refi 199 $32,825,000 $164,950 $0 6.09%
    Cash Out Refi 3 $935,000 $311,667 $0 4.22%

    For 2022, Desert Financial Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 5,788 originations. The 2nd most popular reason was Home Purchase, with 2,849 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 9,059 $1,031,895,000 $113,908 $0 5.72%
    10 Year 8 $6,970,000 $871,250 $0 5.05%
    5 Year 3 $915,000 $305,000 $0 4.50%
    1 Year 1 $505,000 $505,000 $0 8.50%

    For 2022, Desert Financial Federal Credit Union's most frequently cited loan duration was 30 Year, with 9,059 originations. The 2nd most popular length was 10 Year, with 8 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 2,687 $318,885,000 $118,677
    6-7% 2,102 $244,140,000 $116,147
    5-6% 1,721 $191,995,000 $111,560
    7-8% 1,316 $137,710,000 $104,643
    3-4% 815 $115,585,000 $141,822
    Over 8% 429 $31,795,000 $74,114
    2.5-3% 1 $175,000 $175,000

    During 2022, Desert Financial Federal Credit Union's average interest rate for loans was 5.72%, while their most frequently originated rate bucket for loans was 4-5%, with 2,687 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 4,747 $276,575,000 $58,263 $0 5.88%
    $100k-200k 3,114 $404,860,000 $130,013 $0 5.53%
    $200k-400k 1,036 $268,930,000 $259,585 $0 5.59%
    $400k-600k 155 $72,465,000 $467,516 $0 5.46%
    $600k-1MM 15 $10,285,000 $685,667 $0 4.59%
    $1MM+ 4 $7,170,000 $1,792,500 $0 4.67%

    2022 saw Desert Financial Federal Credit Union place emphasis on $100,000 or less loans with 4,747 originations, totaling $276,575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 2,390 $232,170,000 $97,142 $0 7.04%
    $100k-150k 2,014 $225,990,000 $112,210 $0 5.24%
    $150k-250k 1,586 $224,320,000 $141,438 $0 5.20%
    $75k-100k 1,272 $122,830,000 $96,564 $0 5.26%
    $50k-75k 1,232 $105,480,000 $85,617 $0 5.29%
    $250k+ 567 $122,235,000 $215,582 $0 5.26%

    Desert Financial Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 2,390 originations. The second most popular income band? $100k-150k, with 2,014 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 2,052 $234,410,000 $114,235 $0 5.57%
    30-36% 1,627 $188,845,000 $116,069 $0 5.69%
    <20% 965 $107,725,000 $111,632 $0 5.48%
    46% 682 $79,750,000 $116,935 $0 5.90%
    47% 540 $53,880,000 $99,778 $0 5.76%
    44% 383 $43,455,000 $113,460 $0 5.99%
    43% 373 $40,975,000 $109,853 $0 5.84%
    39% 314 $34,300,000 $109,236 $0 5.78%
    42% 305 $35,405,000 $116,082 $0 5.93%
    41% 294 $34,880,000 $118,639 $0 5.82%
    45% 294 $37,990,000 $129,218 $0 5.81%
    37% 292 $33,900,000 $116,096 $0 5.84%
    38% 292 $31,890,000 $109,212 $0 5.71%
    36% 280 $31,800,000 $113,571 $0 5.72%
    40% 270 $29,610,000 $109,667 $0 6.04%
    48% 76 $9,180,000 $120,789 $0 6.09%
    49% 10 $1,610,000 $161,000 $0 5.65%
    50-60% 6 $1,440,000 $240,000 $0 5.73%
    >60% 4 $850,000 $212,500 $0 4.16%

    Desert Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 2,052 originations. The next most common DTI ratio? 30-36%, with 1,627 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 7,601 $867,255,000 $114,097 $0 5.71%
    Not provided 829 $95,225,000 $114,867 $0 5.75%
    Asian 263 $35,485,000 $134,924 $0 5.84%
    Black 249 $23,555,000 $94,598 $0 5.74%
    American Indian 84 $7,690,000 $91,548 $0 6.02%
    Not applicable 10 $7,260,000 $726,000 $0 4.88%
    Native Hawaiian or Islander 35 $3,815,000 $109,000 $0 5.75%

    Approval Rates

    Total approvals of all applications
    68.02%

    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 origination
    82.33%

    Desert Financial Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 9,071 $1,040,285,000 $114,683

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    9,071 $1,040,285,000 $114,683

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2,850 $444,440,000 $155,944 $0 5.54%
    40-60% 496 $132,750,000 $267,641 $0 5.45%
    60-80% 165 $54,855,000 $332,455 $0 5.26%
    80-100% 10 $3,900,000 $390,000 $0 5.38%
    Under 20% 5,550 $404,340,000 $72,854 $0 5.85%