Truwest Credit Union Mortgage Rates, Fees & Info
Tempe, AZLEI: 549300XYLNCM8KWF7B15
Tax ID: 86-6050959
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Mortgage Data
Review & Overview
Truwest Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Truwest Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Austin, Tucson, Flagstaff, and Dallas among others. We have data for 37 markets. (Some data included below & more in-depth data is available with an active subscription.)Truwest Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Truwest 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 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) | 7.62% | 5/4/24 |
| 30 Year Conventional Purchase | 6.43% | 5/4/24 |
| 30 Year Conventional Refi | 6.37% | 5/4/24 |
| 30 Year Cash-out Refi | 6.76% | 5/4/24 |
| 15 Year Conventional Purchase | 6.39% | 5/4/24 |
| 15 Year Conventional Refi | 6.11% | 5/4/24 |
| 15 Year Cash-out Refi | 6.11% | 5/4/24 |
| 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. | ||
Truwest 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
1,801Origination Dollar Volume (All Markets)
$290,295,000Top 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) | 1,535 | $239,955,000 | $156,322 | $3,389 | 5.44% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 127 | $26,855,000 | $211,457 | $4,171 | 5.08% |
| TUCSON, AZ (FHA|USDA|VA) | 38 | $5,690,000 | $149,737 | $3,775 | 5.53% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 13 | $2,165,000 | $166,538 | $4,804 | 5.93% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 16 | $1,810,000 | $113,125 | $2,790 | 5.55% |
| Payson, AZ (FHA|USDA|VA) | 8 | $1,730,000 | $216,250 | $2,187 | 5.20% |
| Show Low, AZ (FHA|USDA|VA) | 7 | $1,455,000 | $207,857 | $3,012 | 5.02% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 8 | $1,390,000 | $173,750 | $3,495 | 5.39% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $1,295,000 | $431,667 | $2,875 | 5.63% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $1,100,000 | $550,000 | $5,896 | 5.12% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 10 | $760,000 | $76,000 | $1,552 | 5.95% |
| Outside of Metro Areas | 5 | $685,000 | $137,000 | $3,362 | 4.43% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $5,850 | 5.06% |
| LAS CRUCES, NM (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $3,213 | 4.31% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,443 | 4.38% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,455 | 4.25% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 5.50% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 5.49% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 6.13% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 6.00% |
| WACO, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,972 | 4.75% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,610 | 4.00% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,565 | 3.75% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,818 | 4.75% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 5.50% |
| MANKATO, MN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,389 | 4.38% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 5.99% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,857 | 4.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,659 | 3.13% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 5.88% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 6.50% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 5.63% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,754 | 4.38% |
| Rockport, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.50% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 5.50% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.25% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 6.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against TRUWEST 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 |
|---|---|---|---|---|---|
| HELOC | 946 | $113,610,000 | $120,095 | n/a | 6.14% |
| Conventional | 855 | $176,685,000 | $206,649 | $3,436 | 4.60% |
For 2019, Truwest Credit Union's most frequently originated type of loan was HELOC, with 946 originations. Their 2nd most popular type was Conventional, with 855 originations.
Loan Reason
For 2019, Truwest Credit Union's most frequently cited loan purpose was Cash Out Refi, with 1,219 originations. The 2nd most popular reason was Home Purchase, with 416 originations.
Loan Duration/Length
For 2019, Truwest Credit Union's most frequently cited loan duration was 30 Year, with 1,497 originations. The 2nd most popular length was 15 Year, with 248 originations.
Origination Fees/Closing Costs
Truwest Credit Union's average total fees were $3,714, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 511 originations.
Interest Rates
During 2019, Truwest Credit Union's average interest rate for loans was 5.49%, while their most frequently originated rate bucket for loans was 5-6%, with 682 originations.
Loan Sizing
2019 saw Truwest Credit Union place emphasis on $100,000 or less loans with 782 originations, totaling $44,170,000 in origination value.
Applicant Income
Truwest Credit Union lent most frequently to those with incomes in the $100k-150k range, with 423 originations. The second most popular income band? $150k-250k, with 423 originations.
Applicant Debt to Income Ratio
Truwest Credit Union lent most frequently to those with DTI ratios of 20-30%, with 436 originations. The next most common DTI ratio? 30-36%, with 369 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.67%
Truwest Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination77.57%
Truwest Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,801 | $290,295,000 | $161,185 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 5 | $8,875,000 | $1,775,000 |
| Single Family (1-4 Units):Site-Built | 1,796 | $281,420,000 | $156,693 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| TRUSTMARK CORPORATION | Conventional home mortgage | Trouble during payment process | 5 | 45.5% |
| TRUSTMARK CORPORATION | FHA mortgage | Struggling to pay mortgage | 1 | 9.1% |
| TRUSTMARK CORPORATION | FHA mortgage | Trouble during payment process | 1 | 9.1% |
| TRUSTMARK CORPORATION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 9.1% |
| TRUSTMARK CORPORATION | Other type of mortgage | Closing on a mortgage | 1 | 9.1% |
| TRUSTMARK CORPORATION | Other type of mortgage | Trouble during payment process | 2 | 18.2% |