Desert Financial Federal Credit Union Mortgage Rates, Fees & Info

Phoenix, AZ

LEI: 549300HFXTV55C2HHM89

Tax ID: 86-0096740

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 smaller credit union specializing in Home Improvement and Home Purchase loans. Desert Financial Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Payson, Prescott Valley, Show Low, and Flagstaff 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 an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Desert Financial Federal Credit Union is typically a low 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 7.03% 11/21/24
    30 Year Conventional Purchase 6.27% 11/21/24
    30 Year Conventional Refi 6.27% 11/21/24
    30 Year Cash-out Refi 6.27% 11/21/24
    15 Year Conventional Purchase 5.68% 11/21/24
    15 Year Conventional Refi 5.68% 11/21/24
    15 Year Cash-out Refi 5.68% 11/21/24
    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

    4,853

    Origination Dollar Volume (All Markets)

    $553,245,000

    Awards

    DESERT FINANCIAL FEDERAL CREDIT UNION 30 Year Conventional Loans silver
    Show all (1) awards

    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) 4,684 $531,260,000 $113,420 $3,840 5.55%
    Payson, AZ (FHA|USDA|VA) 62 $6,910,000 $111,452 $4,186 5.17%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 36 $5,580,000 $155,000 $3,882 5.11%
    Show Low, AZ (FHA|USDA|VA) 24 $3,610,000 $150,417 $3,775 5.08%
    FLAGSTAFF, AZ (FHA|USDA|VA) 22 $3,310,000 $150,455 $4,308 5.23%
    TUCSON, AZ (FHA|USDA|VA) 16 $1,740,000 $108,750 $4,494 5.51%
    Nogales, AZ (FHA|USDA|VA) 2 $410,000 $205,000 $3,083 4.75%
    Outside of Metro Areas 2 $190,000 $95,000 $3,162 4.56%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 2 $120,000 $60,000 $3,319 4.31%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $75,000 $75,000 $0 5.38%
    Safford, AZ (FHA|USDA|VA) 1 $25,000 $25,000 $0 6.50%
    YUMA, AZ (FHA|USDA|VA) 1 $15,000 $15,000 $0 7.00%
    Desert Financial Federal Credit Union's top markets include Phoenix, Payson, Prescott Valley, Show Low, and Flagstaff 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.

    IAPPROVE LENDING
    Similarity Rank: 816
    LOGIX FEDERAL CREDIT UNION
    Similarity Rank: 1058
    VANTAGE WEST
    Similarity Rank: 1113
    First Credit Union
    Similarity Rank: 1176
    CREDIT UNION WEST
    Similarity Rank: 1314
    Canyon State Credit Union
    Similarity Rank: 1428
    OneAZ Credit Union
    Similarity Rank: 1484
    ARIZONA
    Similarity Rank: 1539
    Arizona Bank & Trust
    Similarity Rank: 1635
    DEFINE MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 2004

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,853 $553,245,000 $114,001 $3,853 5.54%

    For 2018, Desert Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 4,853 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 2,472 $173,150,000 $70,044 $3,223 5.99%
    Other 809 $85,505,000 $105,692 $3,348 5.61%
    Home Purchase 673 $155,735,000 $231,404 $4,500 4.61%
    Refi 480 $67,790,000 $141,229 $3,136 5.17%
    Cash Out Refi 419 $71,065,000 $169,606 $3,445 4.64%

    For 2018, Desert Financial Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 2,472 originations. The 2nd most popular reason was Other, with 809 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,513 $427,005,000 $121,550 $3,994 5.63%
    Other 895 $68,995,000 $77,089 $3,180 5.54%
    15 Year 281 $33,965,000 $120,872 $3,683 4.89%
    20 Year 153 $22,095,000 $144,412 $2,963 4.61%
    10 Year 11 $1,185,000 $107,727 $3,915 4.40%

    For 2018, Desert Financial Federal Credit Union's most frequently cited loan duration was 30 Year, with 3,513 originations. The 2nd most popular length was Other, with 895 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,115 $258,155,000 $122,059
    $1k-2k 385 $64,665,000 $167,961
    $2k-3k 220 $41,780,000 $189,909
    $3k-4k 107 $23,315,000 $217,897
    $5k+ 44 $15,540,000 $353,182
    $4k-5k 42 $9,170,000 $218,333

    Desert Financial Federal Credit Union's average total fees were $3,994, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,115 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 1,995 $196,285,000 $98,388
    4-5% 1,396 $271,340,000 $194,370
    6-7% 1,023 $47,615,000 $46,544
    7-8% 281 $5,355,000 $19,057
    3-4% 156 $32,530,000 $208,526
    Over 8% 1 $15,000 $15,000

    During 2018, Desert Financial Federal Credit Union's average interest rate for loans was 5.63%, while their most frequently originated rate bucket for loans was 5-6%, with 1,995 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 2,761 $133,275,000 $48,271 $3,007 6.00%
    $100k-200k 1,230 $172,270,000 $140,057 $3,570 5.04%
    $200k-400k 770 $200,170,000 $259,961 $4,185 4.77%
    $400k-600k 79 $35,995,000 $455,633 $5,126 4.61%
    $600k-1MM 10 $7,300,000 $730,000 $6,417 4.64%
    $1MM+ 3 $4,235,000 $1,411,667 $14,394 4.63%

    2018 saw Desert Financial Federal Credit Union place emphasis on $100,000 or less loans with 2,761 originations, totaling $133,275,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,260 $131,110,000 $104,056 $3,768 5.53%
    $50k or less 1,045 $91,075,000 $87,153 $3,457 5.46%
    $100k-150k 1,033 $125,905,000 $121,883 $4,028 5.58%
    $75k-100k 937 $109,265,000 $116,612 $4,009 5.57%
    $150k-250k 474 $69,700,000 $147,046 $4,539 5.61%
    $250k+ 104 $26,190,000 $251,827 $5,689 5.26%

    Desert Financial Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 1,260 originations. The second most popular income band? $50k or less, with 1,045 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,167 $123,395,000 $105,737 $3,811 5.57%
    30-36% 1,037 $115,815,000 $111,683 $3,873 5.59%
    <20% 500 $50,980,000 $101,960 $3,475 5.46%
    40% 201 $23,405,000 $116,443 $4,111 5.57%
    39% 189 $23,825,000 $126,058 $4,169 5.53%
    38% 183 $21,125,000 $115,437 $3,567 5.57%
    44% 182 $21,070,000 $115,769 $4,026 5.50%
    41% 182 $21,500,000 $118,132 $3,791 5.58%
    42% 178 $22,430,000 $126,011 $4,353 5.55%
    37% 178 $18,990,000 $106,685 $3,702 5.51%
    36% 172 $17,070,000 $99,244 $3,350 5.70%
    43% 171 $16,545,000 $96,754 $4,024 5.78%
    45% 145 $16,255,000 $112,103 $3,879 5.59%
    46% 115 $13,835,000 $120,304 $3,704 5.62%
    47% 81 $15,155,000 $187,099 $4,090 5.06%
    49% 80 $15,870,000 $198,375 $4,035 4.65%
    48% 71 $14,245,000 $200,634 $3,777 4.85%
    50-60% 4 $420,000 $105,000 $3,327 5.34%
    >60% 3 $385,000 $128,333 $2,554 5.08%

    Desert Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,167 originations. The next most common DTI ratio? 30-36%, with 1,037 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,375 $479,745,000 $109,656 $3,791 5.57%
    Not provided 193 $37,985,000 $196,813 $4,114 4.69%
    Asian 111 $15,195,000 $136,892 $3,931 5.46%
    Black 102 $12,610,000 $123,627 $4,697 5.63%
    American Indian 53 $5,065,000 $95,566 $3,469 5.66%
    Native Hawaiian or Islander 18 $2,510,000 $139,444 $4,825 5.44%
    Samoan 1 $135,000 $135,000 $0 3.75%

    Approval Rates

    Total approvals of all applications
    73.79%

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

    Pick Rate

    Approvals leading to origination
    58.09%

    Desert Financial 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 4,853 $553,245,000 $114,001

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 41 $4,625,000 $112,805
    Single Family (1-4 Units):Site-Built 4,812 $548,620,000 $114,011

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,156 $103,220,000 $89,291 $2,895 5.58%
    40-60% 524 $79,870,000 $152,424 $3,049 4.98%
    60-80% 767 $160,225,000 $208,898 $3,879 4.79%
    80-100% 536 $131,970,000 $246,213 $4,458 4.64%
    Under 20% 1,868 $76,600,000 $41,006 $3,774 6.23%