Landings Credit Union Mortgage Rates, Fees & Info

Tempe, AZ

LEI: 894500SMOMUFH0UZXT46

Tax ID: 86-0133773

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    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, Sierra Vista, and Tucson among others. We have data for 3 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 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.

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    Originations

    68

    Origination Dollar Volume (All Markets)

    $7,900,000

    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
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 65 $7,755,000 $119,308 $0 6.09%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 2 $100,000 $50,000 $0 6.50%
    TUCSON, AZ (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.50%
    Landings Credit Union's top markets include Phoenix, Sierra Vista, and Tucson among others.

    Their top states include:
  • Arizona (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 68 $7,900,000 $116,176 $0 6.11%

    For 2019, Landings Credit Union's most frequently originated type of loan was Conventional, with 68 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 38 $3,100,000 $81,579 $0 6.33%
    Home Purchase 15 $2,255,000 $150,333 $0 6.10%
    Cash Out Refi 8 $1,450,000 $181,250 $0 5.33%
    Refi 4 $780,000 $195,000 $0 5.50%
    Other 3 $315,000 $105,000 $0 6.29%

    For 2019, Landings Credit Union's most frequently cited loan purpose was Home Improvement, with 38 originations. The 2nd most popular reason was Home Purchase, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 45 $3,245,000 $72,111 $0 6.59%
    30 Year 11 $3,255,000 $295,909 $0 4.16%
    15 Year 7 $755,000 $107,857 $0 6.30%
    20 Year 4 $520,000 $130,000 $0 5.63%
    10 Year 1 $125,000 $125,000 $0 6.50%

    For 2019, Landings Credit Union's most frequently cited loan duration was Other, with 45 originations. The 2nd most popular length was 30 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 57 $4,485,000 $78,684
    $2k-3k 3 $605,000 $201,667
    $5k+ 3 $1,585,000 $528,333
    $1k-2k 2 $220,000 $110,000
    $4k-5k 2 $780,000 $390,000
    $3k-4k 1 $225,000 $225,000

    Landings Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 57 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 43 $2,935,000 $68,256
    4-5% 10 $2,500,000 $250,000
    7-8% 10 $950,000 $95,000
    3-4% 4 $1,030,000 $257,500
    <2.5% 1 $485,000 $485,000

    During 2019, Landings Credit Union's average interest rate for loans was 4.16%, while their most frequently originated rate bucket for loans was 6-7%, with 43 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 42 $2,280,000 $54,286 $0 6.60%
    $100k-200k 14 $1,720,000 $122,857 $0 5.88%
    $200k-400k 8 $1,900,000 $237,500 $0 5.41%
    $400k-600k 3 $1,365,000 $455,000 $0 2.67%
    $600k-1MM 1 $635,000 $635,000 $0 4.50%

    2019 saw Landings Credit Union place emphasis on $100,000 or less loans with 42 originations, totaling $2,280,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 23 $2,685,000 $116,739 $0 6.06%
    $150k-250k 23 $2,755,000 $119,783 $0 6.44%
    $250k+ 7 $1,075,000 $153,571 $0 5.86%
    $75k-100k 7 $575,000 $82,143 $0 6.16%
    $50k-75k 5 $575,000 $115,000 $0 5.58%
    $50k or less 3 $235,000 $78,333 $0 5.33%

    Landings Credit Union lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $150k-250k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 17 $2,045,000 $120,294 $0 6.15%
    30-36% 14 $1,100,000 $78,571 $0 6.47%
    42% 7 $795,000 $113,571 $0 5.88%
    <20% 7 $635,000 $90,714 $0 5.63%
    39% 6 $640,000 $106,667 $0 6.73%
    40% 4 $760,000 $190,000 $0 5.28%
    43% 4 $280,000 $70,000 $0 6.44%
    38% 3 $615,000 $205,000 $0 5.67%
    36% 2 $320,000 $160,000 $0 5.50%
    41% 1 $55,000 $55,000 $0 6.50%
    50-60% 1 $635,000 $635,000 $0 4.50%
    44% 1 $5,000 $5,000 $0 6.50%
    46% 1 $15,000 $15,000 $0 7.13%

    Landings Credit Union lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? 30-36%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 65 $7,715,000 $118,692 $0 6.07%
    American Indian 1 $105,000 $105,000 $0 7.13%
    Not provided 1 $45,000 $45,000 $0 6.50%
    Asian 1 $35,000 $35,000 $0 7.25%

    Approval Rates

    Total approvals of all applications
    97.14%

    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 origination

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 68 $7,900,000 $116,176

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 68 $7,900,000 $116,176

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $1,715,000 $114,333 $0 6.40%
    40-60% 1 $115,000 $115,000 $0 4.50%
    60-80% 8 $2,370,000 $296,250 $0 3.89%
    80-100% 4 $1,250,000 $312,500 $0 4.28%
    Under 20% 40 $2,450,000 $61,250 $0 6.67%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    LAND HOME FINANCIAL SERVICES Conventional home mortgage Struggling to pay mortgage 3 13.6%
    LAND HOME FINANCIAL SERVICES Conventional home mortgage Trouble during payment process 8 36.4%
    LAND HOME FINANCIAL SERVICES FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 4.5%
    LAND HOME FINANCIAL SERVICES FHA mortgage Closing on a mortgage 1 4.5%
    LAND HOME FINANCIAL SERVICES FHA mortgage Struggling to pay mortgage 2 9.1%
    LAND HOME FINANCIAL SERVICES FHA mortgage Trouble during payment process 1 4.5%
    LAND HOME FINANCIAL SERVICES Home equity loan or line of credit (HELOC) Struggling to pay mortgage 3 13.6%
    LAND HOME FINANCIAL SERVICES Other type of mortgage Trouble during payment process 3 13.6%