Landings Credit Union Mortgage Rates, Fees & Info
Tempe, AZLEI: 894500SMOMUFH0UZXT46
Tax ID: 86-0133773
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Mortgage Data
Review & Overview
Landings Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. Landings Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Prescott Valley, Tucson, and Payson among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Landings Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Landings Credit Union is typically an average 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.
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Originations
99Origination Dollar Volume (All Markets)
$10,455,000Top 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) | 94 | $10,000,000 | $106,383 | $1,449 | 6.06% |
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,809 | 5.69% |
TUCSON, AZ (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $425 | 6.50% |
Payson, AZ (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $425 | 6.50% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 99 | $10,455,000 | $105,606 | $1,445 | 6.07% |
For 2018, Landings Credit Union's most frequently originated type of loan was Conventional, with 99 originations.
Loan Reason
For 2018, Landings Credit Union's most frequently cited loan purpose was Home Improvement, with 49 originations. The 2nd most popular reason was Home Purchase, with 27 originations.
Loan Duration/Length
For 2018, Landings Credit Union's most frequently cited loan duration was Other, with 77 originations. The 2nd most popular length was 30 Year, with 12 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 73 | $5,105,000 | $69,932 |
4-5% | 14 | $3,050,000 | $217,857 |
3-4% | 7 | $935,000 | $133,571 |
5-6% | 4 | $1,340,000 | $335,000 |
During 2018, Landings Credit Union's average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 6-7%, with 73 originations.
Loan Sizing
2018 saw Landings Credit Union place emphasis on $100,000 or less loans with 65 originations, totaling $3,835,000 in origination value.
Applicant Income
Landings Credit Union lent most frequently to those with incomes in the $150k-250k range, with 34 originations. The second most popular income band? $100k-150k, with 25 originations.
Applicant Debt to Income Ratio
Landings Credit Union lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? 30-36%, with 19 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.33%
Landings Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination96.97%
Landings Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 99 | $10,455,000 | $105,606 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Single Family (1-4 Units):Site-Built | 99 | $10,455,000 | $105,606 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
Landmark Mortgage LLC | FHA mortgage | Closing on a mortgage | 1 | 100.0% |