Hughes Federal Credit Union Mortgage Rates, Fees & Info
Tucson, AZLEI: 549300HPQK71BCBQVT93
Tax ID: 86-0107651
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Mortgage Data
Review & Overview
Hughes Federal Credit Union is a smaller credit union specializing in Other and Home Improvement loans. Their top markets by origination volume include: Tucson, Phoenix, Lake Havasu City, Nogales, and Safford among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Hughes 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 7.33% | 11/17/24 |
| 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. | ||
Hughes 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
443Origination Dollar Volume (All Markets)
$33,705,000Relative Rate
Hughes Federal Credit Union's average 30 year fixed mortgage rate was
9.11%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 2.63%.
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 |
|---|---|---|---|---|---|
| TUCSON, AZ (FHA|USDA|VA) | 311 | $23,155,000 | $74,453 | $0 | 8.87% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 102 | $8,580,000 | $84,118 | $0 | 8.88% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 7 | $535,000 | $76,429 | $0 | 9.29% |
| Nogales, AZ (FHA|USDA|VA) | 5 | $345,000 | $69,000 | $0 | 8.55% |
| Safford, AZ (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $0 | 9.50% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 4 | $250,000 | $62,500 | $0 | 9.38% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 5 | $225,000 | $45,000 | $0 | 9.45% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 10.50% |
| Payson, AZ (FHA|USDA|VA) | 3 | $105,000 | $35,000 | $0 | 9.58% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 8.75% |
| Outside of Metro Areas | 1 | $35,000 | $35,000 | $0 | 9.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 443 | $33,705,000 | $76,084 | n/a | 8.90% |
For 2023, Hughes Federal Credit Union's most frequently originated type of loan was HELOC, with 443 originations.
Loan Reason
For 2023, Hughes Federal Credit Union's most frequently cited loan purpose was Other, with 220 originations. The 2nd most popular reason was Home Improvement, with 174 originations.
Loan Duration/Length
For 2023, Hughes Federal Credit Union's most frequently cited loan duration was 30 Year, with 254 originations. The 2nd most popular length was Other, with 125 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 344 | $25,480,000 | $74,070 |
| 7-8% | 99 | $8,225,000 | $83,081 |
During 2023, Hughes Federal Credit Union's average interest rate for loans was 9.11%, while their most frequently originated rate bucket for loans was Over 8%, with 344 originations.
Loan Sizing
2023 saw Hughes Federal Credit Union place emphasis on $100,000 or less loans with 337 originations, totaling $17,985,000 in origination value.
Applicant Income
Hughes Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 138 originations. The second most popular income band? $150k-250k, with 85 originations.
Applicant Debt to Income Ratio
Hughes Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 108 originations. The next most common DTI ratio? 20-30%, with 88 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications68.90%
Hughes Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination42.44%
Hughes 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 | 443 | $33,705,000 | $76,084 |