Desert Financial Federal Credit Union Mortgage Rates, Fees & Info

Phoenix, AZ

LEI: 549300HFXTV55C2HHM89

Tax ID: 86-0096740

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Mortgage Data

Review & 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 low ratio of conventional loans. Their top markets by origination volume include: Phoenix, Flagstaff, Prescott Valley, Payson, and Show Low among others. We have data for 11 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% 11/3/24
30 Year Conventional Purchase 6.27% 11/3/24
30 Year Conventional Refi 6.27% 11/3/24
30 Year Cash-out Refi 6.27% 11/3/24
15 Year Conventional Purchase 5.68% 11/3/24
15 Year Conventional Refi 5.68% 11/3/24
15 Year Cash-out Refi 5.68% 11/3/24
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.

Desert Financial 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 Desert Financial 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

6,806

Origination Dollar Volume (All Markets)

$728,830,000

Relative Rate

Desert Financial Federal Credit Union's average 30 year fixed mortgage rate was 5.82%.

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

This yields a difference of -0.66%.

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) 6,532 $695,300,000 $106,445 $0 5.82%
FLAGSTAFF, AZ (FHA|USDA|VA) 52 $9,990,000 $192,115 $0 5.61%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 83 $9,625,000 $115,964 $0 5.78%
Payson, AZ (FHA|USDA|VA) 53 $5,265,000 $99,340 $0 5.69%
Show Low, AZ (FHA|USDA|VA) 34 $3,950,000 $116,176 $0 5.95%
TUCSON, AZ (FHA|USDA|VA) 24 $2,460,000 $102,500 $0 5.62%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 10 $950,000 $95,000 $0 6.14%
Safford, AZ (FHA|USDA|VA) 5 $405,000 $81,000 $0 5.99%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 5 $345,000 $69,000 $0 5.89%
Outside of Metro Areas 4 $290,000 $72,500 $0 5.49%
YUMA, AZ (FHA|USDA|VA) 4 $250,000 $62,500 $0 5.74%
Desert Financial Federal Credit Union's top markets include Phoenix, Flagstaff, Prescott Valley, Payson, and Show Low 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.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 6,799 $720,275,000 $105,938 n/a 5.82%
    Conventional 7 $8,555,000 $1,222,143 $0 6.18%

    For 2023, Desert Financial Federal Credit Union's most frequently originated type of loan was HELOC, with 6,799 originations. Their 2nd most popular type was Conventional, with 7 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 4,152 $422,200,000 $101,686 $0 5.66%
    Other 1,537 $148,515,000 $96,627 $0 5.62%
    Refi 600 $99,550,000 $165,917 $0 7.20%
    Home Purchase 513 $51,825,000 $101,023 $0 6.10%
    Cash Out Refi 4 $6,740,000 $1,685,000 $0 5.87%

    For 2023, Desert Financial Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 4,152 originations. The 2nd most popular reason was Other, with 1,537 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 6,799 $720,275,000 $105,938 $0 5.82%
    10 Year 7 $8,555,000 $1,222,143 $0 6.18%

    For 2023, Desert Financial Federal Credit Union's most frequently cited loan duration was 30 Year, with 6,799 originations. The 2nd most popular length was 10 Year, with 7 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 3,875 $407,855,000 $105,253
    4-5% 2,349 $241,065,000 $102,625
    Over 8% 501 $63,715,000 $127,176
    7-8% 75 $10,795,000 $143,933
    6-7% 4 $4,700,000 $1,175,000

    During 2023, Desert Financial Federal Credit Union's average interest rate for loans was 5.82%, while their most frequently originated rate bucket for loans was 5-6%, with 3,875 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 3,931 $218,965,000 $55,702 $0 5.75%
    $100k-200k 2,041 $258,275,000 $126,543 $0 5.91%
    $200k-400k 694 $180,340,000 $259,856 $0 5.92%
    $400k-600k 134 $63,110,000 $470,970 $0 5.82%
    $600k-1MM 4 $2,930,000 $732,500 $0 6.36%
    $1MM+ 2 $5,210,000 $2,605,000 $0 5.79%

    2023 saw Desert Financial Federal Credit Union place emphasis on $100,000 or less loans with 3,931 originations, totaling $218,965,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,942 $194,290,000 $100,046 $0 5.79%
    $150k-250k 1,570 $210,750,000 $134,236 $0 5.89%
    $75k-100k 1,179 $98,445,000 $83,499 $0 5.85%
    $50k-75k 1,110 $78,420,000 $70,649 $0 5.73%
    $250k+ 543 $112,535,000 $207,247 $0 5.80%
    $50k or less 455 $25,835,000 $56,780 $0 5.80%

    Desert Financial Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,942 originations. The second most popular income band? $150k-250k, with 1,570 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,599 $171,295,000 $107,126 $0 5.73%
    30-36% 1,222 $136,920,000 $112,046 $0 5.84%
    <20% 640 $64,930,000 $101,453 $0 5.73%
    41% 639 $61,995,000 $97,019 $0 5.85%
    46% 518 $48,790,000 $94,189 $0 5.89%
    39% 343 $36,585,000 $106,662 $0 5.87%
    42% 260 $24,160,000 $92,923 $0 5.92%
    36% 259 $30,635,000 $118,282 $0 5.90%
    40% 257 $27,245,000 $106,012 $0 5.90%
    38% 256 $29,430,000 $114,961 $0 5.81%
    37% 249 $26,465,000 $106,285 $0 5.83%
    44% 185 $19,115,000 $103,324 $0 5.87%
    45% 138 $15,650,000 $113,406 $0 5.83%
    43% 132 $16,030,000 $121,439 $0 5.73%
    47% 87 $9,115,000 $104,770 $0 5.94%
    >60% 6 $920,000 $153,333 $0 6.58%
    49% 4 $320,000 $80,000 $0 6.18%
    50-60% 4 $460,000 $115,000 $0 6.52%
    48% 1 $215,000 $215,000 $0 5.99%

    Desert Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,599 originations. The next most common DTI ratio? 30-36%, with 1,222 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 5,677 $604,165,000 $106,423 $0 5.82%
    Not provided 630 $70,450,000 $111,825 $0 5.79%
    Asian 175 $19,345,000 $110,543 $0 5.73%
    Black 204 $16,420,000 $80,490 $0 5.87%
    Not applicable 7 $8,555,000 $1,222,143 $0 6.18%
    American Indian 82 $6,980,000 $85,122 $0 5.85%
    Native Hawaiian or Islander 31 $2,915,000 $94,032 $0 5.63%

    Approval Rates

    Total approvals of all applications
    54.15%

    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
    87.06%

    Desert Financial Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 6,806 $728,830,000 $107,086

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    6,806 $728,830,000 $107,086

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2,003 $298,725,000 $149,139 $0 5.94%
    40-60% 369 $98,585,000 $267,168 $0 5.94%
    60-80% 93 $31,075,000 $334,140 $0 5.89%
    80-100% 17 $5,365,000 $315,588 $0 5.96%
    Under 20% 4,324 $295,080,000 $68,242 $0 5.75%