Hughes Federal Credit Union Mortgage Rates, Fees & InfoTucson, AZ
Tax ID: 86-0107651
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewHughes Federal Credit Union is a smaller credit union specializing in Other and Home Improvement loans. Their top markets by origination volume include: Tucson, Phoenix, Prescott Valley, Safford, and Nogales 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 an 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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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||7.33%||9/25/23|
|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.|
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.
Origination Dollar Volume (All Markets)$69,790,000
Hughes Federal Credit Union's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.68%.
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)||545||$44,805,000||$82,211||$0||5.48%|
|PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA)||204||$20,160,000||$98,824||$0||5.40%|
|PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA)||16||$1,500,000||$93,750||$0||5.47%|
|Safford, AZ (FHA|USDA|VA)||14||$810,000||$57,857||$0||5.98%|
|Nogales, AZ (FHA|USDA|VA)||8||$680,000||$85,000||$0||6.09%|
|SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA)||10||$530,000||$53,000||$0||5.13%|
|LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA)||5||$325,000||$65,000||$0||5.60%|
|YUMA, AZ (FHA|USDA|VA)||6||$310,000||$51,667||$0||5.42%|
|Show Low, AZ (FHA|USDA|VA)||3||$305,000||$101,667||$0||5.83%|
|FLAGSTAFF, AZ (FHA|USDA|VA)||2||$280,000||$140,000||$0||5.63%|
|Payson, AZ (FHA|USDA|VA)||1||$85,000||$85,000||$0||5.00%|
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Hughes Federal Credit Union's most frequently originated type of loan was HELOC, with 814 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||61||$7,185,000||$117,787||$0||5.61%|
For 2022, Hughes Federal Credit Union's most frequently cited loan purpose was Other, with 434 originations. The 2nd most popular reason was Home Improvement, with 315 originations.
|Loan Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
For 2022, Hughes Federal Credit Union's most frequently cited loan duration was 30 Year, with 597 originations. The 2nd most popular length was Other, with 214 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Hughes Federal Credit Union's average interest rate for loans was 5.44%, while their most frequently originated rate bucket for loans was 4-5%, with 458 originations.
|Loan Size||Originations||Total Value||Average Loan||Average Fees||Average Rate|
|$100,000 or less||549||$30,305,000||$55,200||$0||5.51%|
2022 saw Hughes Federal Credit Union place emphasis on $100,000 or less loans with 549 originations, totaling $30,305,000 in origination value.
Hughes Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 237 originations. The second most popular income band? $75k-100k, with 166 originations.
Applicant Debt to Income Ratio
Hughes Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 192 originations. The next most common DTI ratio? 30-36%, with 157 originations.
Approval RatesTotal approvals of all applications
Hughes Federal Credit Union has a below average approval rate.
Pick RateApprovals leading to origination
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|