Desert Financial Federal Credit Union Mortgage Rates, Fees & Info
Phoenix, AZLEI: 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 loans. Desert Financial Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Prescott Valley, Payson, Flagstaff, and Show Low among others. We have data for 10 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 about average 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
3,446Origination Dollar Volume (All Markets)
$297,040,000Top 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) | 3,352 | $288,980,000 | $86,211 | $0 | 4.68% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 21 | $2,195,000 | $104,524 | $0 | 4.53% |
| Payson, AZ (FHA|USDA|VA) | 32 | $2,080,000 | $65,000 | $0 | 4.70% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 18 | $1,950,000 | $108,333 | $0 | 4.30% |
| Show Low, AZ (FHA|USDA|VA) | 11 | $1,005,000 | $91,364 | $0 | 4.27% |
| TUCSON, AZ (FHA|USDA|VA) | 4 | $340,000 | $85,000 | $0 | 4.16% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 5 | $335,000 | $67,000 | $0 | 4.28% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 5.13% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $0 | 6.00% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 5.63% |
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 |
|---|---|---|---|---|---|
| Conventional | 3,446 | $297,040,000 | $86,198 | $0 | 4.68% |
For 2020, Desert Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 3,446 originations.
Loan Reason
For 2020, Desert Financial Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 2,491 originations. The 2nd most popular reason was Other, with 613 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 3,436 | $296,290,000 | $86,231 | $0 | 4.67% |
| 20 Year | 10 | $750,000 | $75,000 | $0 | 6.04% |
For 2020, Desert Financial Federal Credit Union's most frequently cited loan duration was 30 Year, with 3,436 originations. The 2nd most popular length was 20 Year, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 1,584 | $133,700,000 | $84,407 |
| 5-6% | 827 | $55,655,000 | $67,297 |
| 3-4% | 793 | $98,805,000 | $124,596 |
| 6-7% | 207 | $8,225,000 | $39,734 |
| 7-8% | 35 | $655,000 | $18,714 |
During 2020, Desert Financial Federal Credit Union's average interest rate for loans was 4.67%, while their most frequently originated rate bucket for loans was 4-5%, with 1,584 originations.
Loan Sizing
2020 saw Desert Financial Federal Credit Union place emphasis on $100,000 or less loans with 2,388 originations, totaling $120,650,000 in origination value.
Applicant Income
Desert Financial Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 852 originations. The second most popular income band? $50k-75k, with 753 originations.
Applicant Debt to Income Ratio
Desert Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 941 originations. The next most common DTI ratio? 30-36%, with 661 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications61.49%
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 origination80.64%
Desert Financial Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,446 | $297,040,000 | $86,198 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 3,446 | $297,040,000 | $86,198 |