Hughes Federal Credit Union Mortgage Rates, Fees & Info
Tucson, AZLEI: 549300HPQK71BCBQVT93
Tax ID: 86-0107651
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Hughes Federal Credit Union is a smaller credit union specializing in Home Improvement and Other loans. Their top markets by origination volume include: Tucson, Phoenix, Sierra Vista, Safford, and Prescott Valley 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 about average rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 7.33% | 11/23/24 |
| 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
450Origination Dollar Volume (All Markets)
$31,820,000Top 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 |
|---|---|---|---|---|---|
| TUCSON, AZ (FHA|USDA|VA) | 273 | $18,175,000 | $66,575 | $0 | 5.12% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 139 | $11,135,000 | $80,108 | $0 | 5.10% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 13 | $695,000 | $53,462 | $0 | 5.12% |
| Safford, AZ (FHA|USDA|VA) | 5 | $405,000 | $81,000 | $0 | 5.25% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 4 | $340,000 | $85,000 | $0 | 5.19% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $0 | 5.17% |
| YUMA, AZ (FHA|USDA|VA) | 4 | $260,000 | $65,000 | $0 | 5.38% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 5.00% |
| Show Low, AZ (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $0 | 5.08% |
| Nogales, AZ (FHA|USDA|VA) | 3 | $145,000 | $48,333 | $0 | 5.08% |
| Payson, AZ (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 450 | $31,820,000 | $70,711 | n/a | 5.12% |
For 2021, Hughes Federal Credit Union's most frequently originated type of loan was HELOC, with 450 originations.
Loan Reason
For 2021, Hughes Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 217 originations. The 2nd most popular reason was Other, with 213 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 309 | $27,055,000 | $87,557 | $0 | 5.12% |
| Other | 141 | $4,765,000 | $33,794 | $0 | 5.12% |
For 2021, Hughes Federal Credit Union's most frequently cited loan duration was 30 Year, with 309 originations. The 2nd most popular length was Other, with 141 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 281 | $19,305,000 | $68,701 |
| 5-6% | 161 | $12,135,000 | $75,373 |
| 6-7% | 7 | $365,000 | $52,143 |
| Over 8% | 1 | $15,000 | $15,000 |
During 2021, Hughes Federal Credit Union's average interest rate for loans was 5.12%, while their most frequently originated rate bucket for loans was 4-5%, with 281 originations.
Loan Sizing
2021 saw Hughes Federal Credit Union place emphasis on $100,000 or less loans with 365 originations, totaling $20,155,000 in origination value.
Applicant Income
Hughes Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 127 originations. The second most popular income band? $75k-100k, with 109 originations.
Applicant Debt to Income Ratio
Hughes Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 87 originations. The next most common DTI ratio? 30-36%, with 79 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications70.78%
Hughes Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination27.78%
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 | 450 | $31,820,000 | $70,711 |