Firstlight Federal Credit Union Mortgage Rates, Fees & Info

El Paso, TX

LEI: 549300SGEJUQK4Q7ZY34

Tax ID: 74-1259391

5 stars - Updated: 4/5/25 - out of 5 stars, based on 16 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Firstlight Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Firstlight Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: El Paso, Las Cruces, Dallas, Odessa, and Alamogordo among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Firstlight 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. Firstlight 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 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.

    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
    30 Year Conventional Purchase 6.90% 4/5/25
    30 Year Conventional Refi 7.22% 4/5/25
    30 Year Cash-out Refi 7.45% 4/5/25
    30 Year FHA Purchase 6.67% 4/5/25
    30 Year VA Purchase 6.14% 4/5/25
    15 Year Conventional Purchase 6.53% 4/5/25
    15 Year Conventional Refi 6.05% 4/5/25
    15 Year Cash-out Refi 6.05% 4/5/25
    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.

    Firstlight 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 Firstlight 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

    265

    Origination Dollar Volume (All Markets)

    $35,865,000

    Awards

    FirstLight Federal Credit Union 30 Year Conventional Loans gold FirstLight Federal Credit Union 30 Year Conventional Loans gold FirstLight Federal Credit Union 30 Year Conventional Loans silver FirstLight Federal Credit Union 30 Year Conventional Loans bronze
    Show all (4) awards

    Relative Rate

    Firstlight Federal Credit Union's average 30 year fixed mortgage rate was 6.7%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.15%.

    Relative Fees (Closing Costs)

    Firstlight Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,857.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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
    EL PASO, TX (FHA|USDA|VA) 176 $22,890,000 $130,057 $2,659 6.93%
    LAS CRUCES, NM (FHA|USDA|VA) 83 $11,955,000 $144,036 $2,924 7.04%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 4 $740,000 $185,000 $3,912 7.00%
    ODESSA, TX (FHA|USDA|VA) 1 $195,000 $195,000 $6,286 4.25%
    Alamogordo, NM (FHA|USDA|VA) 1 $85,000 $85,000 $4,333 7.50%
    Firstlight Federal Credit Union's top markets include El Paso, Las Cruces, Dallas, Odessa, and Alamogordo among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against FirstLight Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    NUSENDA
    Similarity Rank: 154
    Rocky Mountain Mortgage Company
    Similarity Rank: 156
    EL PASO AREA TEACHERS
    Similarity Rank: 168
    FirstLight Federal Credit Union
    Similarity Rank: 200
    First American Bank
    Similarity Rank: 234
    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 260
    CADENCE LENDING GROUP, INC.
    Similarity Rank: 447
    SUN AMERICAN MORTGAGE COMPANY
    Similarity Rank: 504
    Citizens Bank of Las Cruces
    Similarity Rank: 517
    GECU
    Similarity Rank: 1008

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 252 $32,780,000 $130,079 $2,598 7.01%
    VA 8 $1,900,000 $237,500 $5,751 6.04%
    FHA 5 $1,185,000 $237,000 $7,182 5.72%

    For 2024, Firstlight Federal Credit Union's most frequently originated type of loan was Conventional, with 252 originations. Their 2nd most popular type was VA, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 180 $18,940,000 $105,222 $2,418 7.20%
    Home Purchase 82 $16,280,000 $198,537 $3,610 6.44%
    Refi 3 $645,000 $215,000 $1,913 6.42%

    For 2024, Firstlight Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 180 originations. The 2nd most popular reason was Home Purchase, with 82 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 139 $12,285,000 $88,381 $2,222 6.96%
    30 Year 88 $19,600,000 $222,727 $3,857 6.70%
    20 Year 38 $3,980,000 $104,737 $2,369 7.53%

    For 2024, Firstlight Federal Credit Union's most frequently cited loan duration was 15 Year, with 139 originations. The 2nd most popular length was 30 Year, with 88 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 187 $24,245,000 $129,652
    $1k-2k 52 $5,020,000 $96,538
    $2k-3k 15 $2,755,000 $183,667
    $3k-4k 5 $955,000 $191,000
    $5k+ 4 $2,280,000 $570,000
    $4k-5k 2 $610,000 $305,000

    Firstlight Federal Credit Union's average total fees were $3,857, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 187 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 117 $17,845,000 $152,521
    7-8% 67 $8,395,000 $125,299
    5-6% 40 $6,150,000 $153,750
    Over 8% 39 $3,045,000 $78,077
    4-5% 2 $430,000 $215,000

    During 2024, Firstlight Federal Credit Union's average interest rate for loans was 6.70%, while their most frequently originated rate bucket for loans was 6-7%, with 117 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 129 $8,165,000 $63,295 $1,833 7.21%
    $100k-200k 86 $12,730,000 $148,023 $3,078 6.82%
    $200k-400k 45 $11,785,000 $261,889 $4,260 6.52%
    $400k-600k 3 $1,475,000 $491,667 $6,207 6.75%
    $1MM+ 1 $1,085,000 $1,085,000 $14,410 6.49%
    $600k-1MM 1 $625,000 $625,000 $11,230 7.00%

    2024 saw Firstlight Federal Credit Union place emphasis on $100,000 or less loans with 129 originations, totaling $8,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 66 $10,140,000 $153,636 $2,766 7.11%
    $50k-75k 61 $6,585,000 $107,951 $2,469 6.89%
    $75k-100k 51 $6,655,000 $130,490 $2,878 6.95%
    $50k or less 49 $4,445,000 $90,714 $2,069 6.66%
    $150k-250k 26 $4,590,000 $176,538 $3,773 7.22%
    $250k+ 9 $3,105,000 $345,000 $5,517 7.08%

    Firstlight Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 66 originations. The second most popular income band? $50k-75k, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 36 $4,350,000 $120,833 $2,424 7.10%
    20-30% 30 $4,350,000 $145,000 $2,764 6.55%
    44% 29 $3,715,000 $128,103 $3,132 7.23%
    43% 23 $2,925,000 $127,174 $2,957 7.28%
    42% 22 $2,520,000 $114,545 $2,715 7.36%
    41% 19 $2,605,000 $137,105 $2,765 6.96%
    <20% 16 $1,900,000 $118,750 $2,694 6.45%
    39% 13 $2,355,000 $181,154 $3,446 6.81%
    40% 12 $1,620,000 $135,000 $2,291 6.79%
    45% 11 $1,325,000 $120,455 $2,500 7.05%
    36% 10 $1,130,000 $113,000 $2,312 6.79%
    38% 10 $1,070,000 $107,000 $2,022 6.77%
    49% 7 $915,000 $130,714 $2,684 6.88%
    46% 7 $1,355,000 $193,571 $2,909 6.52%
    48% 7 $1,005,000 $143,571 $3,488 7.30%
    37% 6 $1,550,000 $258,333 $4,742 6.85%
    47% 5 $805,000 $161,000 $2,515 6.80%
    50-60% 2 $370,000 $185,000 $2,577 6.81%

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

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 231 $30,465,000 $131,883 $2,718 6.99%
    Not provided 20 $2,350,000 $117,500 $2,624 6.78%
    Asian 6 $1,790,000 $298,333 $5,185 6.15%
    Black 6 $820,000 $136,667 $2,932 7.06%
    American Indian 2 $440,000 $220,000 $5,261 7.38%

    Approval Rates

    Total approvals of all applications
    65.81%

    Firstlight Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    -113.58%

    Firstlight 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 265 $35,865,000 $135,340

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    265 $35,865,000 $135,340

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 82 $6,710,000 $81,829 $2,047 7.40%
    40-60% 33 $4,145,000 $125,606 $2,623 6.36%
    60-80% 58 $10,320,000 $177,931 $3,513 6.92%
    80-100% 50 $12,530,000 $250,600 $4,434 6.49%
    Under 20% 42 $2,160,000 $51,429 $1,357 7.17%